TIDMALS
RNS Number : 6696J
Altus Strategies PLC
25 August 2021
Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS)
OTCQX (ALTUF) / Sector: Mining
25 August 2021
Altus Strategies Plc
("Altus" or the "Company")
Geophysical IP Survey at Agdz Copper-Silver Project, Morocco
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF)
announces the commencement of a 135 line km induced polarisation
("IP") and gradient array geophysical survey at the Company's 100%
owned Agdz copper ("Cu") and silver ("Ag") project ("Agdz" or the
"Project"), located 14km southwest of the Bou Skour copper and
silver mine in the eastern Anti-Atlas of the Kingdom of Morocco
("Morocco").
Highlights:
-- Geophysical IP survey underway at Agdz Cu-Ag project in central Morocco
-- Survey is designed to identify and prioritise targets for follow up trenching and drilling
-- Agdz hosts four significant Cu-Ag prospects covering an area of approximately 8km(2)
o The 2.80km long Makarn prospect, with results up to 8.00 % Cu
and 448 g/t Ag
o The 2.00km long Amzwaro prospect, with results up to 4.82 % Cu
and 189 g/t Ag
o The 0.15km long Minière prospect, with results up to 13.05 %
Cu and 12 g/t Ag
o The 0.70km long Daoud prospect, with results up to 2.71 % Cu,
152 g/t Ag
-- Further recent positive copper and silver exploration results from the Makarn prospect
-- Agdz is located 14km southwest of the Bou Skour copper and silver mine
-- Survey undertaken by specialist contractor and expected to complete in September 2021
Steven Poulton, Chief Executive of Altus, commented:
"The commencement of this high resolution, IP geophysical survey
is a notable milestone for our 100% owned Agdz copper-silver
project in the Eastern Anti-Atlas of Morocco. The survey will be
used to define, as well as prioritise, targets for trenching and
drilling within the four key prospects discovered to date. These
prospects have a combined mapped strike length of 5.6km and have
returned numerous encouraging rock chip results, including 8.00 %
Cu and 448 g/t Ag. Terratec Geophysical Services of Germany is
undertaking the survey, which should be completed in September. In
parallel to the IP survey, our field team is undertaking further
mapping and sampling across the key prospects.
"Recent rock chip sampling at the Makarn prospect has returned
further positive results, including 2.86 % Cu and 136 g/t Ag. Agdz
is located just 14km southwest of the Bou Skour copper and silver
mine, which is operated by Moroccan state mining group Managem.
While mineralisation hosted at Bou Skour is not necessarily
indicative of that at Agdz, the Project is clearly exceptionally
well located in an established and highly prospective mining
district. We look forward to updating shareholders with our
progress at Agdz in due course."
Agdz Project: Ground Geophysical Survey
Altus has contracted Terratec Geophysical Services of Germany to
complete a 134.9 line km IP and gradient array survey at Agdz. The
survey covers an area of approximately 14km(2) , prioritising the
Makarn, Amzwaro, Minière and Daoud prospects. Survey lines are
spaced 75m apart with 25m dipoles, in order to generate a potential
survey depth of 250m. Chargeability and resistivity anomalies will
be incorporated with historical data to define optimal targets,
supported by 10 line km of High Resolution IP ("HIRIP") depth
sections profiles. The HIRIP survey is designed to detect and map
zones with the highest concentrations of chargeable materials,
potentially including copper and silver-rich sulphide
mineralisation. The priority anomalies will then be targeted with
follow up trenching and, ultimately, drilling.
Agdz Project: Key Prospects
-- The Makarn Prospect: A swarm of mineralised dykes, shears and
veins which predominantly strike NNE over a distance of 2.8km.
Historical results include rock chip grades of 8.00 % Cu and 448
g/t Ag. This most recent exploration programme has discovered two
new trends of 200m and 400m length respectively, as defined by
alteration (silica, chlorite, K-feldspar and epidote) in
discontinuous outcrops with grades up to 2.86 % Cu and 136 g/t
Ag.
-- The Amzwaro Prospect: Multiple NNE and NNW trending
structures within a zone up to 2km in length and 200m wide, bound
by extensional structures. Individual alteration zones are up to
33m wide. Alteration comprises predominantly chlorite and silica in
breccia and veins. Historical results include rock chip grades of
4.82 % Cu, 189 g/t Ag and 1.91 g/t Au.
-- The Minière Prospect: A 150m long and 90m wide area of
historical underground artisanal mining, exploiting multiple
sub-parallel copper-bearing zones of alteration. Historical results
include rock chip and spoil sample grades of 13.05 % Cu, 12.90 g/t
Ag and 0.49 g/t Au.
-- The Daoud Prospect: A series of NNW striking quartz veins and
pervasive silicification, mapped discontinuously over a 700m strike
length transected by ENE striking chlorite rich alteration zones.
Historical results include rock chip grades of 2.71 % Cu, 152 g/t
Ag and 2.96 g/t Au.
Sampling Methodology and Analysis
A total of 28 rock samples were collected from outcrop during an
ongoing mapping programme at Agdz. Of the samples collected, seven
samples (25 %) were >1 % Cu, 10 samples (36 %) were between 0.5
% Cu and 1 % Cu, and 11 samples (39 %) were less than 0.5 % Cu. Of
the 28 samples, 14 samples (50 %) were >10 g/t Ag and 14 samples
(50 %) <10 g/t Ag. All sample preparation and analysis was
undertaken by AfriLab, an independent SGS accredited laboratory in
Marrakech, Morocco. Given the early stage nature of these
programmes, no QAQC samples were included.
Rock samples were crushed with 70 % passing -2 mm. The less than
2 mm fraction was pulverised with 85 % of the sample passing <75
microns. All samples were analysed for a multi-element suite of 21
metals by Inductively Coupled Plasma Atomic Emission Spectroscopy
(ICP-AES). In addition, all samples were analysed for their Au and
Ag content by 50 g Fire Assay method with a gravimetric finish.
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/5347/altus_nr_-_agdz-_25_aug_2021.pdf
-- Location of the Projects in Morocco are shown in Figure 1.
-- Recent copper-silver assay results at Agdz are shown in Figure 2.
-- Planned IP / gradient array lines at Agdz are shown in Figure 3.
-- A selection of photos from Agdz is shown in Figure 4.
Agdz Project: Location
The Company's wholly owned subsidiary, Aterian Resources
Limited, has a 100% interest in the 59.7 km(2) Agdz Project. The
Project comprises four contiguous licence blocks in the
Souss-Massa-Drâa region of the Anti-Atlas mountains of central
Morocco, approximately 350km south of the capital, Rabat. The
Project is approximately 14km southwest of the Bou Skour
copper-silver mine and 80km southwest of the world-renowned Imiter
silver mine, both operated by the Moroccan mining group Managem.
Mineralisation hosted on those properties is not necessarily
indicative of mineralisation hosted at Agdz.
The Project is located approximately 35km east of the city of
Ouarzazate, where infrastructure and services are of a high
standard, including a regional airport. The 'Noor 1' solar station,
which is the world's largest concentrated solar power plant with a
planned output of 580 MW is located approximately 40km northwest of
Agdz. The Project is accessed via a paved road and a network of
unpaved roads and vehicle tracks close to and within the
licence.
Agdz Project: Geological setting
Agdz is proximal to the Oued Dar'a Caldera, which formed within
a brittle pull apart structure along a northeast trending regional
fault zone in the eastern Anti-Atlas. The caldera is located within
the highly prospective Neoproterozoic Sidi Flah-Bou Skour inlier of
the Saghro Massif, which developed during Pan-African tectonic
events. This massif is comprised of a lower, tightly folded
volcano-sedimentary sequence formed from arc-related metagreywacke
and metavolcanics lithologies deposited approximately 650Ma. The
lower complex was intruded by diorite, granodiorite and lesser
gabbro and monzogranite between 615 Ma and 575 Ma. The upper
complex is comprised predominantly of felsic metavolcaniclastics
related to the development of several calderas emplaced typically
between 575 Ma and 540 Ma, and is intruded by granitic plutons. The
upper complex is gently folded, sitting unconformably on the lower
complex. Regionally, ore deposits are commonly associated with the
upper complex and are typically spatially related to magmatic
emplacement.
The geology at Agdz comprises meta-sedimentary and meta-volcanic
sequences. These belong to the upper complex and are cut by a
series of sub-parallel NE to NW striking brittle faults and
alteration zones, a number of which have been historically mined
for copper. The alteration (comprising variably of chlorite, iron,
silica, k-feldspar, actinolite, carbonate and barite) is generally
located within brittle pull apart fault breccias and fracture
zones, between (and oblique to) the mapped lineaments.
Mapping, sampling, trenching and ground magnetic surveys
undertaken by the Company to date have defined four priority
prospects at Agdz, namely Makarn, Amzwaro, Minière and Daoud. The
Company has completed a series of 13 reconnaissance trenches at
Agdz, totalling 576m in length and excavated to a depth of up to
1m. The trenches have revealed a number of NNE trending alteration
zones in packages which are up to 33m wide, beneath a thin cover of
soil and float material. Previously reported assay results from
five of the 13 trenches have been received and reported to date,
and include 0.65 % Cu and 36.54 g/t Ag over 14.12m and 0.36 % Cu
and 13.26 g/t Ag over 13.70m.
Qualified Person
The technical disclosure in this regulatory 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 differentiated approach
of generating royalties on its own discoveries in Africa and
acquiring royalties globally 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
"Ag" means silver
"Au" means gold
"Cu" means copper
"g/t" means grams per tonne
"grade(s)" means the quantity of ore or metal in a specified
quantity of rock
"IP" means Induced Polarisation
"HIRIP" means High Resolution Induced Polarisation
"ICP-AES" means Inductively coupled plasma atomic emission
spectroscopy analytical technique
"km" means kilometres
"m" means metres
"Ma" means Mega-annum which is equal to one million years
"NI 43-101" means National Instrument 43-101 "Standards of
Disclosure for Mineral Projects" of the Canadian Securities
Administrators
"QAQC" means Quality Assurance and Quality Control
"Qualified Person" means a person that has the education, skills
and professional credentials to qualify as a qualified person under
NI 43-101
**END**
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