Embracing the cyclical nature of the mining sector
Altau Resources Ltd
Volcanogenic massive sulphide, orogenic gold
Active artisanal gold mining
Stream sediment sampling
34.3% Cu; 81.6g/t Ag and 1.2% Pb with 0.874g/t Au
Next Phase of Work:
Mapping, rock chip & channel sampling
Joint Venture Partner:
The 412.5km2 Daro licence is situated in the Tigray Regional State of northern Ethiopia, 95 km west of the Company’s Tigray-Afar Cu-Ag project, 100km northwest of the Tigray state capital of Mekele and 570 km north of Ethiopia’s capital, Addis Ababa. Mekele has a regional airport and year-round access to the licence area is provided by a network of maintained surfaced and graded roads.
The licence targets potential Volcanogenic Massive Sulphide (“VMS”) copper and gold deposits and is situated within the Neo-Proterozoic Nakfa Terrane, at a junction between two major tectonic blocks and comprises a series of metasedimentary and metavolcanic rocks, affected by thrusting and intrusion of the Rama granite. A band of mafic to ultramafic rocks bisects the Daro licence from southwest to northeast, interpreted to be an ophiolite complex of ancient oceanic crust and seafloor sediments. Historical data compilation of Daro, undertaken by the French governmental Bureau de Recherches Géologiques et Minières, has defined a number of marker lithologies and structures that are considered prospective for VMS deposits. These include the presence of bimodal volcanics and associated sediments, mafic and ultramafic lithologies which conform to an ophiolitic sequence, as well as the presence of extensive chert horizons. The Nakfa Terrane hosts a number of significant VMS base metal and gold deposits and mines. This includes Bisha, a polymetallic mine operated by Nevsun Resources Ltd (TSX: NSU) 190km north west of Daro, the Harvest and Adyabo projects, being advanced by East Africa Metals Inc. (TSX-V:EAM) 35km west of Daro and the Asmara project being advanced by Sichuan Road & Bridge Mining Investment Corp Ltd 100km north of Daro.
Daro was selected by the Company following an extensive process of regional target definition. This work included a review of historic mineral occurrences, geological maps and structural data as well as satellite-borne remote sensing data. The licence contains a significant northeast-southwest striking ophiolite complex and hosts a number of shear zones and thrust belts. Daro contains the Teklil gold-copper prospect, a 2.5km long zone of interest that remains open along strike. Teklil hosts a series of alluvial and hard rock gold workings as well as in-situ gossans. A 2kg sample of gossanous float from Teklil has returned a grade of 34.3% Cu and also contained 0.54g/t Au, 10g/t Ag and 374ppm Zn. This suite of metals is considered to be consistent with a potential VMS system. Elsewhere at Teklil in-situ gossans have returned grades of 7.51% Cu, 3.09% Cu and 2.79% Cu as well as anomalous zinc (857 ppm) and cobalt (496 ppm).
A reconnaissance grab sample collected from an artisanal working located approximately 7km to the north and along strike of Teklil returned 81.6g/t Ag and 1.2% Pb with 0.874g/t Au. Approximately 4km southwest of Teklil, a number of zones of copper bearing metasiltstone have been identified and approximately 4.5km northwest of Teklil there is an extensive (900m by 500m) area of current and historic intensive artisanal alluvial gold mining within the Ilawit river valley.
The next phase of work at Daro will include a comprehensive stream sediment sampling programme across 165km2, with the objective of establishing which tributaries potentially host primary gold and / or copper mineralisation.