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Altus Strategies PLC

Altus Strategies Plc Drill targets defined at Diba gold project, Mali

Steven Poulton, Chief Executive of Altus, commented:

“The Diba gold project is a highly strategic asset, located just 13km from the multi-million ounce Sadiola gold mine in western Mali. Our project hosts a near surface, shallow dipping, historic oxide resource with a number of exceptional drill intersects, including 5.02 g/t Au over 20.0m and 1.85 g/t Au over 51.8m. The adjacent Sadiola mine is reportedly for sale and is expected to have exhausted its oxide feed in the coming months. However, while we recognise that Diba may be a potential source of future oxide feed for Sadiola, we also consider it has significant standalone oxide potential.”

“Our detailed review of the historic data from Diba has defined a number of priority drill targets, which when tested have the potential to increase the existing historic resource. One of the targets, at Diba Northwest, is located within a 2.6km2 soil anomaly immediately along strike and northwest of the current historic resource. Systematic air core drilling of this area only tested to an average depth of 14.7m. However, a number of the holes terminated in gold mineralisation. A second, 2km2 target at Diba East is located immediately to the east of the historic resource and is defined by the results from geophysics, air core and reverse circulation drilling.”

“Altus is currently in discussion with a number of potential joint venture partners and other groups to advance the Diba project, as well as our other projects in western and southern Mali. We look forward to updating shareholders on these discussions in due course.”

Altus Strategies Plc (LON: ALS & TSX-V: ALTS), the Africa focused exploration project generator, announced that it has defined a series of drill targets to test the potential of expanding the Diba gold project. Diba is strategically located 13km south of the multi-million ounce Sadiola gold mine in the world renowned ‘Kenieba Window’ gold belt in the west of the Republic of Mali .

Highlights:

· Excellent historic drill intersections of 5.02g/t Au over 20.0m and 1.85g/t Au over 51.8m

· Further drill targets defined along strike, down dip and in new zones

· Diba has the potential to provide oxide feed to the adjacent Sadiola gold mine

· Diba hosts a historic near surface gold resource (see “Diba Project: Historic resource” and “Cautionary note regarding historic data”):

o 6,348,000 tonnes at 1.35 g/t for 275,200 ounces in the Indicated category

o 720,000 tonnes at 1.40 g/t for 32,500 ounces in the Inferred category

o Based on a 0.5 g/t cut off and gold price of US$1,200/oz

· Discussions are underway with a number of potential counterparties in respect of Diba

 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.