Embracing the cyclical nature of the mining sector
Altau Resources Ltd
Volcanogenic massive sulphide; orogenic gold
27km long ophiolite belt
Prospecting and stream sampling
Extensive alluvial gold workings
Next Phase of Work:
Mapping and rock-chip sampling
Joint Venture Partner:
The 284.9km2 Zager licence is situated in the Tigray Regional State of northern Ethiopia, approximately 75km west of the Company’s Daro Cu-Au project, 175km northwest of the Tigray state capital of Mekele and 610km north of Ethiopia’s capital, Addis Ababa. The town of Shire, which has a population of 71,000 and a regional airport offering daily flights to Addis Ababa, is located 30km to the southeast. A railway is being planned to connect Shire with the Red Sea port of Tadjoura in Djibouti. The licence is accessed by a network of well-maintained surfaced and graded roads and is crossed by a high voltage hydroelectric power line.
The licence is situated within the Neo-Proterozoic Nakfa terrane of the Arabian Nubian Shield, a highly prospective mobile belt of metasedimentary and metavolcanic rocks which stretches across northern and western Ethiopia, Eritrea, Sudan, Egypt and across the western Gulf. Zager hosts a 27km long mafic and ultramafic belt, interpreted to be an ophiolite complex of ancient oceanic crust and seafloor sediments, deposited in an island arc setting. These rocks are intruded by the Debri granitoid and the Imba Tsewa gabbroic complex. The Nakfa terrane hosts a number of significant VMS base metal and gold deposits and mines. These include Bisha, a polymetallic mine operated by Zijin Mining Group Co. Ltd. 136km northwest of Zager, the Asmara project being advanced by Sichuan Road & Bridge Mining Investment Corp Ltd 125km northeast of Zager and the Harvest and Adyabo projects, being advanced by East Africa Metals Inc. (TSX-V:EAM) 10km south and east of Zager.
Zager was selected by the company based upon an extensive process of regional targeting. This work comprised a review of available datasets, including historical mineral occurrences, geological maps and satellite-borne remote sensing data. The licence contains two northeast trending ophiolite belts and an overlaying tuffaceous volcano-sedimentary sequence, in addition to two syn-tectonic granitoid intrusions. A first phase reconnaissance exploration programme will be undertaken by the company and will include a field assessment of numerous remote sensing targets and a licence-wide stream sediment sampling survey in order to prioritise areas of interest.