TIDMALS
RNS Number : 0563G
Altus Strategies PLC
22 July 2021
Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS)
OTCQX (ALTUF) / Sector: Mining
22 July 2021
Altus Strategies Plc
("Altus" or the "Company")
New Silver & Copper Projects Granted in Morocco
Moroccan portfolio expanded to 14 projects, covering more than
800 km(2)
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF)
announces the grant of four new exploration projects as well as an
extension to the Agdz project (the "Projects") totalling 148.5
km(2) in the Kingdom of Morocco ("Morocco"). The Projects were
awarded to the Company's 100% owned subsidiary, Aterian Resources
Limited, as part of a competitive tender process.
Highlights:
-- New projects totalling 148.5 km(2) granted in the Anti-Atlas of central Morocco
-- Projects considered to be highly prospective for silver and copper
-- Moroccan portfolio enlarged to 14 projects covering 824.3 km(2)
-- The Tazoult project is located 13 km east of the Zgounder silver mine
-- The Agoudim project is located 30 km east of the Imiter silver mine
-- In-house remote sensing underway across the Projects to prioritise exploration targets
Steven Poulton, Chief Executive of Altus, commented:
"We are delighted with the award of four further projects which
target silver and copper in Morocco. The new projects, totalling
148.5 km(2) , were granted as part of a tender process and expand
our Moroccan portfolio to 14 projects, covering more than 800 km(2)
.
"The projects are strategically well located. The Tazoult
project is located just 13 km east of the Zgounder silver mine
(operated by TSXV-listed Aya Gold & Silver Inc), while the
Agoudim project is located approximately 30 km east of, and
potentially in the same fault zone which hosts, the Imiter silver
mine (operated by the Managem Group). Mineralisation hosted at
Tazoult and Agoudim is not necessarily indicative of mineralisation
hosted at Zgounder or Imiter.
"Our team is currently undertaking a systematic in-house remote
sensing and mineral prospectivity programme on the Projects, which
incorporates the synthesis of satellite imagery with extensive
historical exploration datasets. Our field teams will then follow
up on the highest priority targets that are generated. I look
forward to updating shareholders on the results of these programmes
in due course."
Project Summary:
-- Agoudim Silver Project (29.0 km(2) ):
o Hosts reported lead occurrences
o Sits in a key mineralised fault zone within Neoproterozoic
volcano-sediments
o Located 30 km east of the Imiter silver mine, operated by the
Managem Group, (mineralisation hosted at Imiter is not necessarily
indicative of mineralisation at Agoudim)
-- Assif Silver & Gold Project (26.0 km(2) ):
o Hosts Neoproterozoic volcanics and overlaying sediments
o Proximal to major regional structures and associated
mineralised splays
o Located 11 km southwest of the historical Tiouit gold mine
(mineralisation hosted at Tiouit is not necessarily indicative of
mineralisation at Assif)
-- Anezal Base Metal Project (64.0 km(2) ):
o Hosts Neoproterozoic volcano-sediments and overlaying
Adoudounian sediments
o Proximal to major regional structures and associated
mineralised splays
o Located 40 km northwest of the Bou Azzer cobalt mine, operated
by the Managem Group (mineralisation hosted at Bou Azzer is not
necessarily indicative of mineralisation at Anezal)
-- Tazoult Silver Project (13.5 km(2) ):
o Hosts Neoproterozoic volcano-sediments overlaying Cenozoic
volcanics
o Proximal to major regional structures and associated
mineralised splays
o Located 13 km east of the Zgounder silver mine, operated by
TSX-V listed Aya Gold and Silver Inc (mineralisation hosted at
Zgounder is not necessarily indicative of mineralisation at
Tazoult)
-- Agdz II Copper-Silver Project (16.0 km(2) expanding Agdz to 75.7 km(2) ):
o Hosts Neoproterozoic volcano-sediments and overlaying
Adoudounian sediments
o Proximal to a major northerly structure and historically
mapped copper occurrences
o Located 12 km northwest of the Agdz project and 31.5 km west
of the Bouskour copper mine, operated by the Managem Group
(mineralisation hosted at Bouskour is not necessarily indicative of
mineralisation at Agdz)
Agoudim Silver Project (29.0 km(2) ) - Geology
Located in the eastern Anti-Atlas mountains, at the intersection
of an east-west trending strike-slip fault zone, which hosts the
Imiter silver mine 30 km to the west, and a major northeast
striking fault zone. The faults occur primarily within
Neoproterozoic volcano-sediments. Numerous reported mineral
occurrences of copper, lead and silver are located along strike to
the southwest and west, with an apparent association with
strike-slip fault zones.
Assif Silver & Gold Project (26.0 km(2) ) - Geology
Located in the eastern Anti-Atlas mountains, on and between two
major northeast trending fault zones and north-northeast striking
potential splays, within a zone of increased structural complexity.
The faults occur within Neoproterozoic volcano-sediments.
Regionally, numerous mineral occurrences of copper, lead, silver
and gold are located along strike to the northeast and southwest,
with an apparent association with regional fault zones.
Anezal Base Metal Project (64.0 km(2) ) - Geology
Located in the central Anti-Atlas mountains, proximal to major
regional fault zones of east-west and northwest-southeast strike.
The faults occur primarily within Neoproterozoic volcano-sediments
and overlaying Adoudounian sedimentary cover. Regionally, numerous
mineral occurrences of copper, lead, silver, gold and manganese are
located along the strike of regional faults.
Tazoult Silver Project (13.5 km(2) ) - Geology
Located in the central Anti-Atlas mountains, proximal to major
regional fault zones of east-west and northwest-southeast strike.
The faults occur primarily within Neoproterozoic volcano-sediments
and overlaying Adoudounian sedimentary cover, which are both
overlain variably by Cenozoic volcanic and volcano-sedimentary
formations. Regionally, numerous mineral occurrences of copper,
lead, silver, gold and manganese are located along the strike of
regional faults that underlay the Cenozoic units, which include a
broadly east-west striking fault zone that hosts the Zgounder
silver mine 11 km to the west (m ineralisation hosted at Zgounder
is not necessarily indicative of mineralisation at Tazoult).
Agdz II Copper-Silver Project (16.0 km(2) ) - Geology
Located in the eastern Anti-Atlas mountains, within the Oued
Dar'a caldera, interpreted to have formed with a pull-apart
structure along a major regional strike-slip fault zone. The
caldera hosts a Neoproterozoic volcanic sequence and numerous,
predominantly north to northeast striking rhyolite dykes. A number
of copper, manganese and barite veins are located proximal and
interpreted as along strike of Agdz II.
Illustrations
The following figures have been prepared by Altus and relate to
the disclosures in this announcement. They are visible in the
version of this announcement on the Company's website (
www.altus-strategies.com ) or in PDF format by following this link:
https://altus-strategies.com/site/assets/files/5323/altus_nr_-_morocco-_22_july_2021.pdf
-- Location of the Projects in Morocco is shown in Figure 1
-- Location of key deposits and Projects in the eastern Anti-Atlas is shown in Figure 2
-- Location of key deposits and Projects in the central Anti-Atlas is shown in Figure 3
Qualified Person
The technical disclosure in this announcement has been 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 has over 20 years of experience
in mineral exploration and is a Qualified Person under the AIM
rules and NI 43-101.
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 511 767
Steven Poulton, Chief Executive E-mail: info@altus-strategies.com
SP Angel (Nominated Adviser)
Richard Morrison / Adam Cowl Tel: +44 (0) 20 3470 0470
SP Angel (Broker)
Grant Barker / Richard Parlons Tel: +44 (0) 20 3470 0471
Shard Capital (Broker)
Isabella Pierre / Damon Heath Tel: +44 (0) 20 7186 9927
Yellow Jersey PR (Financial PR & IR) Tel: +44 (0) 20 3004 9512
Charles Goodwin / Henry Wilkinson E-mail: altus@yellowjerseypr.com
About Altus Strategies Plc
Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a
mining royalty company generating a diversified and precious metal
focused portfolio of assets. The Company's focus on Africa and
differentiated approach, of generating royalties on its own
discoveries as well as through financings and acquisitions with
third parties, has attracted key institutional investor backing.
The Company engages constructively with all stakeholders, working
diligently to minimise its environmental impact and to promote
positive economic and social outcomes in the communities where it
operates. For further information, please visit
www.altus-strategies.com .
Cautionary Note Regarding Forward-Looking Statements
Certain information included in this announcement, including
information relating to future financial or operating performance
and other statements that express the expectations of the Directors
or estimates of future performance constitute "forward-looking
statements". These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements.
Such factors include, without limitation, the completion of planned
expenditures, the ability to complete exploration programmes on
schedule and the success of exploration programmes. Readers are
cautioned not to place undue reliance on the forward-looking
information, which speak only as of the date of this announcement
and the forward-looking statements contained in this announcement
are expressly qualified in their entirety by this cautionary
statement.
Where the Company expresses or implies an expectation or belief
as to future events or results, such expectation or belief is based
on assumptions made in good faith and believed to have a reasonable
basis. The forward-looking statements contained in this
announcement are made as at the date hereof and the Company assumes
no obligation to publicly update or revise any forward-looking
information or any forward-looking statements contained in any
other announcements whether as a result of new information, future
events or otherwise, except as required under applicable law or
regulations.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organisation of Canada accepts responsibility for the
adequacy or accuracy of this release.
Market Abuse Regulation Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Glossary of Terms
The following is a glossary of technical terms:
"km" means kilometres
"NI 43-01" means National Instrument 43-101 Standards of
Disclosure of Mineral Projects of the Canadian Securities
Administrators"
"Qualified Person" means a person that has the education, skills
and professional credentials to act as a qualified person under NI
43-101
**END**
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