TIDMALS
RNS Number : 6131G
Altus Strategies PLC
05 March 2018
Altus Strategies Plc / Index: AIM / EPIC: ALS / Sector:
Mining
NOT FOR DISTRIBTUION TO US NEWSWIRE SERVICES NOR FOR
DISSEMINATION IN THE UNITED STATES OF AMERICA
05 March 2018
Altus Strategies Plc
("Altus" or the "Company")
Gold Exploration Licence Granted in Cote d'Ivoire
Altus Strategies Plc (AIM: ALS), the Africa focused exploration
project generator, announces that its 100% owned subsidiary Aeos
Gold Ltd has been granted the Prikro gold exploration licence
("Prikro" or the "Licence") in the Prikro and Koun-Fao Departments
in eastern Côte d'Ivoire, West Africa. The Licence targets Birimian
meta-sedimentary greenstone gold deposits.
Highlights:
-- Altus enters sixth African country with new 369.5km(2)
exploration licence in Côte d'Ivoire
-- Historical gold occurrences reported on the Licence
-- Licence targets 10km long fold hinge with axial planar faults in meta-sedimentary host
-- Small-scale artisanal mining licences located directly along
strike of and adjacent to Licence
-- Initial reconnaissance mapping and sampling to commence shortly
Steven Poulton, Chief Executive of Altus, commented:
"We are delighted to have been awarded the Prikro gold
exploration licence in eastern Côte d'Ivoire, which reportedly
contains a number of gold occurrences. Strategically, as a project
generator business, this marks our sixth country of operation in
Africa and the Prikro licence is our tenth gold project within our
current portfolio of 16 distinct exploration projects.
"Côte d'Ivoire is proven to be prospective for the discovery and
development of world class gold mines and has excellent
infrastructure. Several major gold projects are in production or
coming on stream in the near future, including Tongon (Randgold
Resources), Yaoure (Perseus Mining) and Bonikro (Newcrest Mining).
However, while Côte d'Ivoire reportedly contains over 35% of the
Birimian greenstone belts of West Africa, the country remains
relatively underexplored.
"Our field teams are now making preparations to commence the
first phase reconnaissance programme of mapping and sampling, and
we look forward to updating shareholders in due course."
Prikro Exploration licence
The Prikro licence has been granted to Aucrest Sarl, a 100%
owned subsidiary of Aeos Gold Ltd which is a 100% subsidiary of
Altus Strategies Plc. The Licence is for gold and covers an area of
369.50 km(2) in the Prikro and Koun-Fao Departments of eastern Côte
d'Ivoire. The Licence is awarded for an initial four-year term,
after which it can be renewed for two further terms of three years
each and a further two years under an exceptional renewal. Each
renewal requires a 50% reduction in the licence area.
Prikro was selected by Altus following a geological assessment
of the Birimian meta-sedimentary units of eastern Côte d'Ivoire.
The Licence contains granites and diorites that are 15km in length
and up to 6km wide, that have intruded through the nose of an
anticlinal fold into meta-sedimentary units. Historical gold
occurrences are reported on the Licence and active artisanal
small-scale mining for gold reportedly occurs along strike of
structures which transect the Licence.
An initial first phase of reconnaissance exploration will now be
undertaken by the Company's technical team. This programme will
include initial mapping and sampling of high priority targets as
defined from the Company's satellite imagery analysis and remote
sensing work.
The following figures have been prepared and relate to the
disclosures in this announcement and are visible in the version of
this announcement on the Company's website
(www.altus-strategies.com) or in PDF format by using the following
link:
http://altus-strategies.com/site/assets/files/4351/prikro.pdf
1. The location of the Prikro licence is shown in Figure 1
2. The regional geology and small-scale mining licences is shown in Figure 2
http://www.rns-pdf.londonstockexchange.com/rns/6131G_-2018-3-4.pdf
Figure 1. The location of the Prikro licence in Côte
d'Ivoire
http://www.rns-pdf.londonstockexchange.com/rns/6131G_1-2018-3-4.pdf
Figure 2. Regional geology and small scale mining licences
Prikro Project: Location
The Prikro project comprises a single exploration licence in the
Prikro and Koun-Fao Departments in eastern Côte d'Ivoire, located
approximately 240 km from the capital of Abidjan. The Licence is
located north-west of the town of Agnibilekrou and 25km west of the
town of Koun-Fao, both of which can be accessed by asphalt roads
from Abidjan. From Agnibilekrou and Koun-Fao, the licence area is
accessible all year round via a series of secondary tracks. Travel
time from Abidjan to the project area is approximately five
hours.
Prikro Project: Geological setting
The Birimian greenstones are a collection of Paleoproterozoic
meta-sedimentary and meta-volcanic units with associated intrusive
complexes that are the dominant hosts for gold deposits in West
Africa. The larger gold deposits in the Birimian are located within
structural corridors that may extend for up to 100km along strike.
Birimian gold mineralisation is often concentrated along the
margins of volcanic belts, with mesothermal and hypothermal gold
deposits localised along faults and shear zones that cut through
the greenstone sequences, and are often defined by zones of
alteration and quartz +/- carbonate veining. The Licence is located
within a large meta-sedimentary package comprising psammites and
metamorphosed siltstones which have been intruded by granite and
diorite bodies along the axis and in the nose of a regional-scale
fold structure.
Within the Licence area, a northeast to southwest trending shear
zone has been historically mapped between granite and diorite
intrusions. Small-scale artisanal mining licences which are
contiguous with the Licence are thought to target this structure.
The Company considers that the difference in lithological
competencies between the granitoids and the meta-sedimentary units
may be favourable for the formation of mesothermal gold deposits,
as prolonged phases of deformation can lead to the inception of
brittle ductile structures through which mineralising fluids can
percolate and precipitate gold.
Qualified Person
The technical disclosure in this regulatory announcement has
been read and approved by Steven Poulton, Chief Executive of Altus.
A graduate of the University of Southampton in Geology (Hons), he
also holds a Master's degree from the Camborne School of Mines
(Exeter University) in Mining Geology. He is a Fellow of the
Institute of Materials, Minerals and Mining and a Fellow of the
Geological Society of London. He has over 18 years of experience in
mineral exploration and is a Qualified Person under the AIM rules
and National Instrument 43-101 under the rules of the TSX.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information you are invited to visit the Company's
website www.altus-strategies.com or contact:
Altus Strategies Plc Tel: +44 (0) 1235
Steven Poulton, Chief 511 767
Executive E: info@altus-strategies.com
Matthew Grainger, Executive
Director
Greg Owen, VP Corporate
Development
SP Angel (Nominated Adviser) Tel: +44 (0) 20
Richard Morrison / Soltan 3470 0470
Tagiev
SP Angel (Broker) Tel: +44 (0) 20
Elizabeth Johnson 3470 0471
Blytheweigh (Financial Tel: +44 (0) 20
PR) 7138 3204
Tim Blythe / Camilla Horsfall
/ Nick Elwes
About Altus Strategies Plc
Altus is a diversified and Africa focused mineral exploration
project generator. Through our subsidiaries we discover new
projects and attract third party capital to fund their growth,
development and ultimately exit optionality. This strategy enables
Altus to remain focused on the acquisition of new opportunities to
be fed into the project generation cycle and aims to minimise
shareholder dilution. Our business model is designed to create a
growing portfolio of well managed and high growth potential
projects, diversified by commodity and by country. Altus currently
has sixteen projects in eight commodities across six countries. We
aim to position our shareholders at the vanguard of value creation,
but with significantly reduced risks traditionally associated with
investments in the mineral exploration sector.
Forward-Looking Statements
This news release includes certain statements that may be deemed
"forward looking statements" with the meaning of applicable
securities laws. All statements in this news release, other than
statements of historical facts, that address events or developments
that Altus Strategies Plc expects to occur, are forward looking
statements and involve known and unknown risks, uncertainties and
other factors. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified
by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential", "targets" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. The Company believes the
expectations, estimates, forecasts and projections expressed in
such forward looking statements are based on reasonable
assumptions. However, investors are cautioned that such statements
are not guarantees of future performance and the Company cannot
provide assurance that actual results or performance will not
differ materially from those projected in the forward looking
statements. Factors that could cause the actual results to differ
materially from those in forward looking statements include changes
in market prices, exploration results and the
interpretation of other geological data, the ability of the
Company to obtain, maintain, renew and/or extend required licences,
permits, authorizations and/or approvals from the appropriate
regulatory authorities and other risks relating to the legal and
regulatory frameworks in jurisdictions where the Company operates,
competitive conditions in the mineral exploration sector, the
activities of artisanal miners, whose activities could delay or
hinder exploration or mining operations, the risk that third
parties to contracts may not perform as contracted or may breach
their agreements, the ability to attract and retain key management
and personnel, terrorism, civil strife, or war in the jurisdictions
in which the Company operates, or in neighbouring jurisdictions
which could impact on the Company's exploration, development and
operating activities, unanticipated costs and expenses, the
continued availability of capital and financing on acceptable terms
or at all, and general economic, market or business conditions.
Any references made in this news release to historical
information, including historical geologic and technical
information cannot be verified. A Qualified Person has not verified
the sampling, analytical, and test data underlying any such
historical information. The Company has obtained historical
information from sources that it believes to be reliable and
assumes it is accurate and complete in all material aspects. While
the Company has carefully reviewed the available historical
information, it cannot guarantee its accuracy and completeness. The
forward looking information and statements included in this
announcement are expressly qualified by this cautionary statement
and are based on the beliefs, estimates and opinions of the Company
on the date of this announcement. Except as required by securities
laws the Company does not undertake any obligation to publicly
update or revise any forward looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
Glossary of Terms
The following is a glossary of technical terms:
"Artisanal" means local people conducting mining, often with
rudimentary equipment
"Au" means gold
"Birimian" means an early part of geological time dating from
2,200 to 2,100 million years ago
"Cu" means copper
"km" means kilometre
"m" means metres
"Ma" means million years ago
"Moz" means millions of ounces
"Outcrop" means a visible exposure of rock that is in-situ and
has no covering of soil or vegetation
"Shear zone" means a zone in which rocks have been deformed by
lateral movement along parallel planes
"Quartz Vein" means a fracture which has been filled by quartz
and other minerals which have crystallised from mineralised
fluids
**ENDS**
This information is provided by RNS
The company news service from the London Stock Exchange
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