31st May 2022 11:00
Altus Strategies PLC - Oxfordshire, England-based mining royalty company - Announces several gold discoveries across all four of the company's projects in Egypt, with more than 100 hard rock artisanal gold workings mapped with grades up to 100 grams per tonne of gold.
These results indicate that there is potential for the presence of several multi-kilometre long prospective structures.
In addition, Altus was awarded two new licences in Egypt under a recent competitive bid round, which comprise two blocks covering 349 square kilometres.
Looking ahead, Altus will undertake an aggressive exploration campaign, including rock chip sampling, channel sampling and geological mapping to define potential drill targets.
"There are few gold opportunities globally today that are as exciting as those presented in the world-renowned Nubian Shield geology of the Eastern Desert of Egypt. I am delighted to report that Altus has not only established a robust portfolio of highly prospective projects in this province, now totalling almost 2,000 km2, but that our maiden exploration results indicate that we may already be on the tail of a number of potentially significant hard rock gold discoveries," says Chief Executive Steven Poulton.
Current stock price: 49.60 pence, up 6.7%
12-month change: down 21%
By Dayo Laniyan; [email protected]
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