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Altus Strategies secures new copper license in Morocco

Altus Strategies Plc said Feb. 26 that it secured a new exploration license covering more than 96 square kilometers in Morocco.

The Zaer license comprises six permits and is prospective for copper, tungsten, tin and lead. It has an initial three-year period and can be renewed for four one-year periods.

Altus plans to begin initial reconnaissance mapping and sampling on the area in March.

In addition, the company noted that it relinquished its Oulmes, Ment, Tamatert and Ouarzazate exploration licenses in Morocco after they were considered not likely to host economic deposits. Altus does not expect to book any impairments following the move.

Altus continues to hold the Agdz and Takzim exploration licenses in the country.