TIDMALS
RNS Number : 1714K
Altus Strategies PLC
12 December 2018
Altus Strategies Plc / Index: AIM / EPIC: ALS / Sector:
Mining
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR
DISSEMINATION IN THE UNITED STATES OF AMERICA
12 December 2018
Altus Strategies Plc
("Altus" or the "Company")
Discovery of Zinc, Cobalt & Copper at Takzim Project,
Central Morocco
Altus Strategies Plc (AIM: ALS & TSX-V: ALTS), the Africa
focused exploration project generator, announces the discovery of
further zinc, cobalt and copper prospects at its 100% owned 71.8
km(2) Takzim project ("Takzim" or the "Project") located in central
Morocco.
Highlights:
-- Surface samples include 4.64% Zn, 7.78% Cu & 0.15% Co
-- Copper bearing quartz-carbonate veins mapped discontinuously for 1.2km
-- Coherent 600m long zinc and lead anomaly from soil sampling programme
-- Further artisanal workings discovered across the Project
Steven Poulton, Chief Executive of Altus, commented:
"Exploration at our Takzim project, including the recently
granted Takzim Est licences, has returned encouraging copper,
cobalt and zinc results. These include 7.78% Cu, 1.96% Cu and 1.36%
Cu from outcrop and grab samples across a series of veins, which
have been mapped discontinuously for over 1.2km in strike length.
Rock chip sampling of narrow hematite-rich lenses within these
veins has returned highly anomalous cobalt, with grades of 0.15%
Co, 0.14% Co, 0.14% Co.
Elsewhere at Takzim, outcrop and grab sampling from
quartz-carbonate veins has returned encouraging zinc grades,
including 4.64% Zn, 2.22% Zn and 1.39% Zn. Notably a number of
these veins lie within a 600m long northeast trending zinc and lead
soil anomaly, as defined by an orientation soil sampling programme
completed by the Company.
Although at an early stage, we are encouraged by these further
discoveries at Takzim. The next phase of exploration is currently
being planned and will focus on establishing the potential source
and scale of the copper, cobalt and zinc mineralisation discovered
to date."
Reconnaissance Exploration Results
Mapping and reconnaissance exploration have been completed over
the Takzim project, including the recently granted Takzim Est
licences. In total 59 rock chip and grab samples were collected
from a number of quartz-carbonate veins that crop out across the
Project. Highly anomalous cobalt has been discovered to occur
within narrow haematitic nodules and lenses hosted within the
veins. The veins have been mapped as being up to 15m wide and
invariably copper oxide mineralisation can be observed. Anomalous
zinc grades (above 0.5% Zn) have also been returned from rock chip
sampling of the veins. These include results of 4.64% Zn from grab
sampling and 2.22% Zn from outcrop sampling in a small historic
excavation.
Soil Sampling Programme
The Company has completed an orientation soil sampling programme
at Takzim covering an area of approximately 1.6km by 1km. The
results have identified a coherent 600m long by 150m wide northeast
trending Zn-Pb anomaly. In total, 162 samples were collected on
100m spaced lines with samples collected at 50m intervals along
each line. Soil samples were analysed using ALS Global's Ionic
Leach method and interpreted by Globe-Ex Solutions who are pioneers
of the Ionic Leach technique. The method aims to identify an
anomalous signature which can be linked directly to the primary
rocks below. The anomaly remains open along strike and an extended
soil sampling programme is currently being planned.
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/4512/altus_nr_-_takzim_update_12_dec_2018.pdf
1. Location of the Takzim Project in Central Morocco is shown in Figure 1
2. Soil sampling results are shown in Figure 2
3. An overview map of the Takzim project is shown in Figure 3
4. A selection of project photos are shown in Figure 4
Takzim Project: Location
The 71.8 km(2) Takzim project is comprised of five licence
blocks situated in Eastern Jebilet province of central Morocco,
approximately 200 km south of the capital Rabat, 35 km northeast of
Marrakech, and approximately 6.5 km east of the historic Bir n Hass
copper mine. The Project is accessible via asphalt roads and a
network of smaller tracks and is within 7 km of an operating rail
line.
Takzim Project: Geological setting
The geology of Takzim is dominated by Palaeozoic metamudstone
and quartzites which are proximal to a Hercynian age granitic
intrusion. Mineralisation to date has been observed in veins which
have been mapped discontinuously for up to 4km in strike length and
up to 15m in width. The veins are comprised variably of quartz and
carbonate and are commonly massive to brecciated with a vuggy
texture.
Sampling Methodology & Analysis
A total of 59 outcrop and grab samples were collected in the
programmes described in this release. Of the 59 samples:
Cobalt: 6 of 59 assayed above 1,000 ppm (0.1%) Co, ranging from
less than 2 ppm to 1,515 ppm.
Of the 59 samples 9 were collected from outcrop and grab samples
at the Takzim Est licence. Of these 9 samples:
Copper: 4 of 9 assayed above 10,000 ppm (1.0%) Cu, ranging from
less than 77 ppm to 77,800 ppm (7.78% Cu)
A total of 162 soil samples were collected during the
orientation soil sampling programme described in this release.
These samples were analysed using the Ionic Leach Method.
All sample preparation and assaying was undertaken by ALS Global
at their laboratories in Seville (Spain) for sample preparation and
Loughrea (Republic of Ireland) for analysis. Given the early stage
nature of these programmes, no Quality Assurance and Quality
Control ("QA-QC") samples were sent for assay.
Rock samples were crushed with 70% passing -2mm. The less than
2mm fraction was pulverized with 85% of the sample passing <75
microns. The fine fraction of each sample underwent a four-acid
digestion with ICP-AES analysis for a suite of 33 elements. All
samples were analysed for their Au content by 50g Fire Assay
method.
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 has over 19 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 511 767
Steven Poulton, Chief Executive E: info@altus-strategies.com
SP Angel (Nominated Adviser) Tel: +44 (0) 20 3470 0470
Richard Morrison / Soltan Tagiev
SP Angel (Broker) Tel: +44 (0) 20 3470 0471
Richard Parlons / Jonathan Williams
Blytheweigh (Financial PR) Tel: +44 (0) 20 7138 3204
Tim Blythe / Camilla Horsfall / James
Husband
About Altus Strategies Plc
Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed,
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 and royalties,
diversified by commodity and by country. Altus currently has
eighteen projects in six 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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release contain forward-looking
information. 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 programs on
schedule and the success of exploration programs. Readers are
cautioned not to place undue reliance on the forward-looking
information, which speak only as of the date of this news
release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Glossary of Terms
"Co" means cobalt
"Cu" means copper
"km" means kilometre
"m" means metres
"Pb" means lead
"Quartz-carbonate vein" means a fracture containing quartz and
other minerals which have crystallised from mineralised fluids
"Zn" means zinc
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contact rns@lseg.com or visit www.rns.com.
END
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