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Altus Strategies PLC (ALS)

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Thursday 01 July, 2021

Altus Strategies PLC

High Grade Results From New Projects in Morocco

RNS Number : 7476D
Altus Strategies PLC
01 July 2021
 

 

Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS) OTCQX (ALTUF) / Sector: Mining

 

01 July 2021

Altus Strategies Plc

("Altus" or the "Company")

 

High Grade Copper & Silver Results from Three New Projects in Morocco

 

Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) announces the discovery of high-grade copper and silver from reconnaissance exploration at the Company's recently granted Azrar, Izougza and Tata projects (the "Projects"). The Projects, which total 252 km2,  are located in the western Anti-Atlas of the Kingdom of Morocco ("Morocco") and are held by the Company's 100% owned subsidiary Aterian Resources Limited.

 

Highlights:

· High-grade copper and silver outcrop and float samples from three new projects in Morocco

· Results from initial prospecting include:

Izougza project: Up to 8.37 % Cu in breccia

Azrar project: Up to 3.41 % Cu and 56 g/t Ag in breccia

Tata project: up to 0.24 % Cu in sediments

· Several occurrences of historic hard rock artisanal mining have been mapped

· Potential for stratiform sediment-hosted and contact breccia copper-silver mineralisation

· Projects located in established current and historic copper and silver mining districts

· Exploration now underway on the recently granted Jafra, Tiddas and Amsa projects

· Altus now holds 10 highly prospective projects in Morocco, totalling 675 km2

 

Steven Poulton, Chief Executive of Altus, commented:

"These are excellent results from first pass prospecting of our recently granted Azrar, Izougza and Tata projects. The Projects are located in established copper and silver mining districts in the western Anti-Atlas of Morocco.

 

"Grades of up to 3.41 % Cu and 56 g/t Ag at Azrar, up to 8.57 % Cu from Izougza and up to 0.24% Cu at Tata are highly encouraging. Perhaps more significantly is the confirmation of prospective geological formations for stratiform sediment-hosted deposits, as well as contact breccias, along with the presence of multiple historic artisanal workings. Our field teams have generated numerous targets for follow up exploration. In the meantime, reconnaissance exploration is now underway at the Jafra, Tiddas and Amsa projects, which total 221 km2 and were also recently granted to the Company. We look forward to updating shareholders with the results from these programmes in due course.''

 

Project Summary:

· Azrar Copper Project (85 km2):

Hosts several mapped historical copper occurrences

Sedimentary copper potential in Adoudounian sediments on the flank of an inlier

Results include up to 3.41 % Cu and 56 g/t Ag from breccia outcrop over 50 m strike and 1 % Cu and 16 g/t Ag from a ferruginous stratiform bed of 1 m width

Located 45 km east of the Tizert copper mine (mineralisation hosted at Tizert is not necessarily indicative of mineralisation at Azrar)

 

· Izougza Copper-Silver Project (24 km2):

Prospective for vein hosted copper and silver mineralisation

Targets a strike-slip structure separating Proterozoic granites and volcanics

Results include up to 8.57 % Cu from a highly weathered, ferruginous breccia

Located along strike of historical mapped copper, silver, cobalt and gold occurrences and  20 km from the Zgounder silver mine, operated by Aya Gold and Silver Inc. (TSX: AYA) (mineralisation hosted at Zgounder is not necessarily indicative of mineralisation at Izougza)

 

· Tata Copper Project (143 km2):

Hosts a mapped historical copper-gold and gold occurrence

Sedimentary copper potential in Adoudounian sediments on the flank of an inlier

Results include 0.24 % Cu from a 1 m wide silty dolomite unit

Located 50 km southeast of the Tizert copper mine (mineralisation hosted at Tizert is not necessarily indicative of mineralisation at Tata)

 

Sampling Methodology and Analysis

A total of 78 rock samples were collected from outcrop and 16 grab samples from float for the programmes described in this release. Of the samples collected, 13 samples (14 %) were >1 % Cu, 11 (12 %) were between 0.5 % Cu and 1 % Cu, and 70 samples (74 %) were less than 0.5 % Cu. 30 samples (32 %) were >10 g/t Ag and 64 samples (68 %) <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 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/5316/altus_nr_-_morocco-_01_july_2021.pdf  

 

· Location of the Projects in Morocco are shown in Figure 1

· Location of key deposits and Projects within the western Anti-Atlas are shown in Figure 2

· Priority targets within the Azrar Copper-Silver Project are shown in Figure 3

· Priority targets within the Izougza Copper Project are shown in Figure 4

· Priority targets within the Tata Copper Project are shown in Figure 5

· A selection of photos from the Projects is shown in Figure 6

 

Figure 1: Location of the Projects in Morocco

 

 

Figure 2: Location of the Projects and key deposits in the western Anti-Atlas

 

 

Figure 3: Priority targets within the Azrar Copper-Silver Project

 

 

Figure 4: Priority targets within the Izougza Copper-Silver Project

 

 

Figure 5: Priority targets within the Tata Copper Project

 

 

Figure 6: A selection of photo from the Projects

 

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

Steven Poulton, Chief Executive

Tel: +44 (0) 1235 511 767

E-mail: [email protected]

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)

Charles Goodwin / Henry Wilkinson

Tel:  +44 (0) 20 3004 9512

E-mail: [email protected]

 

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 .

 

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:

"Ag" means silver

"Au" means gold

"Breccia" means rock consisting of angular fragments of stones cemented by finer materials

"Cu" means copper

"Ferruginous" means containing iron oxides

"g/t" means grams per tonne

"km" means kilometres

"mm" means millimetres

"Mt" means millions of tonnes

"NI 43-01" means National Instrument 43-101 Standards of Disclosure of Mineral Projects of the Canadian Securities Administrators"

"Outcrop" means a rock formation that is visible on the surface

"Qualified Person" means a person that has the education, skills and professional credentials to act as a qualified person under NI 43-101

"Stratiform" means parallel to the bedding planes of the surrounding rock

 

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