TIDMALS
RNS Number : 5046I
Altus Strategies PLC
19 April 2022
Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS)
OTCQX (ALTUF) / Sector: Mining
19 April 2022
Altus Strategies Plc
("Altus" or the "Company")
Gold Mining Licence Granted at the Diba Project in Western
Mali
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF)
announces that the Ministry of Mines, Energy and Water of the
Republic of Mali ("Ministry") has issued a small-scale gold mining
licence ("Mining Licence") in respect of the Company's 100% owned
83.1 square kilometre ("km(2) ") Korali Sud licence, containing the
Diba gold project ("Diba") located in western Mali. Diba hosts the
Diba Deposit, Diba NW and Diba Far East prospects and is located
approximately 5km west of the Company's 100% owned 24km(2) Lakanfla
gold exploration licence ("Lakanfla"). The Company has commissioned
independent consulting firm Mining Plus UK Ltd ("Mining Plus") of
Bristol, United Kingdom to update the Mineral Resource Estimate
("MRE") and Preliminary Economic Assessment ("PEA") for the
combined Diba & Lakanfla project.
Highlights:
-- Mining Licence granted on the Diba gold project located in western Mali
-- Current MRE for the Diba Deposit (see Altus' news release
dated 6 July 2020 "Significant Gold Resource at Diba Project,
Western Mali") comprises:
o 4,834,000 tonnes at 1.39 g/t Au for 217,000 ounces in the
Indicated category
o 5,479,000 tonnes at 1.06 g/t Au for 187,000 ounces in the
Inferred category
-- Mining Licence granted for initial four year period, renewable until the deposit is depleted
-- Mining Licence is transferable to third parties with approval from the Ministry
-- Update of MRE and PEA for combined Diba & Lakanfla project underway by Mining Plus
-- Diba is strategically located in a world-famous gold belt that hosts numerous open-pit mines
Steven Poulton, Chief Executive of Altus, commented:
"We are delighted to have been granted a Mining Licence at our
Diba gold project in western Mali. This endorses our royalty
generation strategy of adding value to our project portfolio
through de-risking and technical validation before transacting with
third party developers. With the expiry of the current exploration
licence, the Mining Licence provides the Company with long-term
security of tenure for the project. This is especially important as
an updated MRE and PEA for the combined Diba and Lakanfla project
is underway and is due to be published in the next three months. I
look forward to updating shareholders on these studies in due
course".
Diba Mining Licence
The Mining Licence is dated 15 April 2022 and was granted to the
Company's 100% owned Mali incorporated subsidiary LGC Exploration
Mali SARL in accordance with Mali's mining code. It covers the full
83.1 km(2) extent of the former Diba exploration licence and is
valid for an initial four year period, renewable for successive
four year periods until the deposit is depleted. The Company's
application for the Mining Licence included various studies and
files, including an environmental permit, a mine closure and
rehabilitation plan and a community development plan. There are no
statutory minimum expenditure commitments under the Mining Licence.
The Company retains the option to apply for a full-scale mining
licence at a later date, subject to the delineation of a larger
MRE. The Mining Licence includes requirements for quarterly and
annual operational reports to be submitted to the Ministry. The
Company is required to pay an annual surface royalty of 100,000 CFA
francs (approximately US$170) per square kilometre. The Mining
Licence can be transferred to third parties in accordance with
certain conditions set out in Mali's mining code.
Illustrations
The following figures 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 following this link:
https://altus-strategies.com/site/assets/files/5591/altus_nr_-_diba-_19_apr_2022.pdf
-- Location of the Diba & Lakanfla gold project in western Mali is shown in Figure 1.
-- Location of the key prospects at the Diba & Lakanfla gold project is shown in Figure 2.
-- Selection of photos from Diba & Lakanfla is shown in Figure 3.
Figure 1: Location of the Diba & Lakanfla gold project in
western Mali
Figure 2: Location of the key prospects at the Diba &
Lakanfla gold project
Figure 3: Selection of photos from Diba & Lakanfla
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 Corporate Finance LLP (Nominated
Adviser) Tel: +44 (0) 20 3470 0470
Richard Morrison / Adam Cowl
SP Angel Corporate Finance LLP (Broker)
Grant Barker Tel: +44 (0) 20 3470 0471
Rob Rees Tel: +44 (0) 20 3470 0535
Shard Capital Partners LLP (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. Its 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. Altus
has established a global portfolio comprising 33 royalty interests
and 27 project interests across nine countries and nine metals. The
Company continues to assess royalty acquisition opportunities as
well as actively advancing its portfolio of gold and base metal
projects across Africa, as part of its 'boots on the ground'
royalty generation strategy. Altus 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 Company
or estimates of future performance, may 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.
**END**
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