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Altus Strategies defines 2.3-kilometer gold prospect in Mali

Altus Strategies Plc defined a new gold prospect measuring 2.3 kilometers in length within its Sebessounkoto Sud license in western Mali.

The company said March 13 that the new Soa prospect was defined during a recent exploration program that included mapping, prospecting, spoil and termite mound sampling, and investigating recently opened artisanal workings.

The prospect is approximately 22 kilometers from AngloGold Ashanti Ltd. and IAMGOLD Corp.'s Sadiola gold mine.

According to the company, mapping, outcrop and sampling of artisanal spoil coincident with a historical gold-in-soil anomaly measuring 2 kilometers long yielded results including 5.18 g/t, 3.98 g/t and 2.4 g/t of gold.

Historical rock chip samples from Soa included 18.5 g/t of gold and 12 g/t of gold, with a highlighted channel sample result of 61.4 meters at 0.68 g/t of gold.

"From this first program, tens of artisanal mining pits and shafts have been mapped within Soa," Altus CEO Steven Poulton said. "The largest working observed to date has been mapped along 150 meters of strike and has shafts which reportedly extend to 40 meters in depth."

The company will undertake a second phase of exploration at Soa, including pitting and trenching, to better define the interpreted 2.3-kilometer trend.

Earlier in March, Altus announced plans to raise up to C$5 million for exploration and generative work in Africa and for general corporate purposes.