Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) announces the granting of three new distinct exploration projects as well as exploration licences adjacent to existing projects (the “Projects”) totalling 221 km2 in the Kingdom of Morocco (“Morocco”). The Projects were awarded to the Company’s 100% owned subsidiary, Aterian Resources Limited, as part of a competitive tender process.
- New projects granted totalling 221 km2 in central Morocco
- Projects considered highly prospective for copper, tin and zinc
- Morocco portfolio enlarged to ten projects totalling 675 km2
- Further project applications submitted across key mineralised belts in Morocco
- Exploration programmes on new projects to commence shortly
Steven Poulton, Chief Executive of Altus, commented:
“We are delighted with the award of three new base metal projects and two extensions to existing projects in Morocco totalling 221 km2. The projects were awarded as part of a competitive tender process and increase our Moroccan portfolio to ten projects totalling 675 km2. In addition to the new projects we have also been granted licence blocks contiguous with our existing Takzim and Zaer Copper projects.
‘’The new projects are all located in the Central Moroccan Hercynian Massif, a region that is highly prospective for copper, tin, tungsten, lead and zinc and hosts numerous active and historical mines, as well as development-stage projects. The 67 km2 Amsa project is located approximately 8.5 km southwest of the Achmmach tin project which is being advanced by Kasbah Resources Limited.
“Our field team will commence exploration shortly, focusing on the priority targets defined by satellite image interpretations. Altus has applied for a number of further projects across Morocco through the tender process and we look forward to providing an update on the results of these submissions in due course.”
New Project Summary:
- Amsa Tin Project (67 km2):
- Hosts a folded sequence of turbidite beds and intruded by magmatic sills
- Along strike of historically mapped tin, zinc and lead occurrences
- Located 8.5 km southwest of the Achmmach tin project being advanced by Kasbah Resources Limited (mineralisation hosted at Achmmach is not necessarily indicative of mineralisation at Amsa)
- Tiddas Copper-Lead Project (64 km2):
- Hosts six historically mapped lead and copper-lead occurrences
- Structurally complex area between two Hercynian granites
- Located 7 km and 10 km northwest of the historical El Karit tin and Zguit tungsten mines respectively (mineralisation hosted at El Karit and Zguit is not necessarily indicative of mineralisation at Tiddas)
- Jafra Copper-Zinc Project (29 km2):
- Hosts a historically mapped lead occurrence and potential historical workings
- Situated on the eastern margin of a Hercynian age granite
- Located 35 km east of the former Roc Blanc silver mine, situated towards the western margin of the Hercynian age granite (mineralisation hosted at Roc Blanc is not necessarily indicative of mineralisation at Jafra)
Project Extension Summary:
- Zaer Copper Project (32 km2 extension):
- Enlarges the Zaer copper project to 96 km2
- Hosts two historically mapped copper occurrences, associated with an east-west striking structure on the northern flank of the Zaer pluton
- Focused on the metamorphic aureole surrounding a Hercynian granite
- Takzim Zinc Project (29 km2 extension):
- Enlarges the Takzim Zinc project to 77 km2
- Hosts a historically mapped copper occurrence
- Focused on Palaeozoic mudstones & quartzites proximal to a Hercynian granite
Amsa Tin Project (67 km2) - Geology
The Project is located on the eastern margin of the Oulmes granite within the highly prospective Central Moroccan Hercynides, 105 km southeast from Morocco’s capital, Rabat. The host geology is represented by turbiditic sediments of the Namurian aged Fourhal Formation consisting of deformed, interbedded mudstones and sandstones of lower carboniferous age, intruded by magmatic sills. The metamorphic aureoles of Hercynian age granites are known to host base metal deposits and occurrences within the region.
Tiddas Copper-Lead Project (64 km2) - Geology
The Project is situated within a structurally complex area between the Zaer and Oulmes granites, within the highly prospective Central Moroccan Hercynides, 75 km southeast from Morocco’s capital, Rabat. The host geology comprises strongly foliated metasedimentary rocks, including quartzites, phyllites and schists. The Project is located at the intersection of historically mapped northeast and north striking structures with copper-lead occurrences reported proximal to a Hercynian age granite.
Jafra Copper-Zinc Project Project (29 km2) - Geology
The Project is situated at the eastern flank of a Hercynian aged granitic pluton within the highly prospective Jebilet Massif, 36 km from the city of Marrakech and 32 km from a rail line to port. The host geology comprises the Namurian aged Sarhelf schists series and a Hercynian granite pluton. The project is located at the eastern margin of the pluton within the metamorphic aureole and hosts a historically mapped lead occurrence, coincident with apparent former artisanal mining associated with a reportedly 1.75 km long quartz-carbonate vein system.
Zaer Copper Project (Enlarged to 96 km2) - Geology
The Project is situated within the metamorphic aureole at the margin of the Hercynian age Zaer granite within the highly prospective Central Moroccan Hercynides, 75 km south from Morocco’s capital, Rabat. The host geology comprises highly foliated and contact metamorphosed metasedimentary rocks, including quartzites, phyllites and schists that host a number of copper, lead, zinc, tungsten and tin occurrences. Quartz vein hosted copper mineralisation is reportedly present within the granite at Zaer.
Takzim Zinc Project (Enlarged to 77 km2) - Geology
The Project is situated within Palaeozoic metamudstones and quartzites proximal to a Hercynian-age granite and mafic intrusives in the highly prospective Jebilet Massif, 32 km from the city of Marrakech and 7 km from a rail line to port. The host geology comprises a Visean flysch sequence, predominantly schists and metasandstones that host numerous quartz-carbonate veins. Previous work on the Takzim project by Altus has identified multiple parallel quartz-carbonate veins with an east-northeast orientation, observed across the licences with the largest vein and mapped up to 15 m wide, striking discontinuously for over 3 km. Assays from rock-chips collected along these veins have yielded results including 4.68 % Zn, 0.69 % Zn, 9.18 % Cu and 4.53 % Cu. A number of artisanal workings have also been discovered including small exploratory pits, where anomalous zinc has been recorded, through to a large 3 m diameter adit excavated into a cliff face which is estimated to be up to 40 m long. The Project is located approximately 6.5 km east of the historic Bir n Hass copper mine. Mineralisation hosted at Bir n Hass is not necessarily indicative of mineralisation at Takzim.
The following figures have been prepared by Altus and relate to the disclosures in this announcement and are visible in the version of this announcement on the Company's website (www.altus-strategies.com) or in PDF format by following this link: https://altus-strategies.com/site/assets/files/5288/altus_nr_-_morocco_20_may_2021.pdf
- Location of the Projects in Morocco are shown in Figure 1
- Central Moroccan Hercynides mining district is shown in Figure 2
- Priority targets within the Zaer, Tiddas and Amsa Projects are shown in Figure 3
- Jebilet Massif mining district is shown in Figure 4
- Priority targets within the Takzim and Jafra Projects are shown in Figure 5
Figure 1: Location of the Projects in Morocco
Figure 2: Central Moroccan Hercynides mining district
Figure 3: Priority targets within the Zaer, Tiddas and Amsa Projects
Figure 4: Jebilet Massif mining district
Figure 5: Priority targets within the Takzim and Jafra Projects
The technical disclosure in this regulatory announcement has been approved by Steven Poulton, Chief Executive of Altus. A graduate of the University of Southampton in Geology (Hons), he also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 20 years of experience in mineral exploration and is a Qualified Person under the AIM rules and NI 43-101.
For further information you are invited to visit the Company’s website www.altus-strategies.com or contact:
Altus Strategies Plc
Steven Poulton, Chief Executive
Tel:+44 (0) 1235 511 767
SP Angel (Nominated Adviser)
Richard Morrison / Adam Cowl
Tel: +44 (0) 20 3470 0470
SP Angel (Broker)
Grant Barker / Richard Parlons
Tel: +44 (0) 20 3470 0471
Shard Capital (Broker)
Isabella Pierre / Damon Heath
Tel: +44 (0) 20 7186 9927
Yellow Jersey PR (Financial PR & IR)
Charles Goodwin / Henry Wilkinson
Tel: +44 (0) 20 3004 9512
About Altus Strategies Plc
Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a mining royalty company generating a diversified and precious metal focused portfolio of assets. The Company’s focus on Africa and differentiated approach, of generating royalties on its own discoveries as well as through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit www.altus-strategies.com.
Cautionary Note Regarding Forward-Looking Statements
Certain information included in this announcement, including information relating to future financial or operating performance and other statements that express the expectations of the Directors or estimates of future performance constitute "forward-looking statements". These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programmes on schedule and the success of exploration programmes. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this announcement and the forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary statement.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. The forward-looking statements contained in this announcement are made as at the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking information or any forward-looking statements contained in any other announcements whether as a result of new information, future events or otherwise, except as required under applicable law or regulations.
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Market Abuse Regulation Disclosure
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Glossary of Terms
The following is a glossary of technical terms:
“Cu” means Copper
“km” means kilometres
“m” means metres
“NI 43-101” means National Instrument 43-101 Standards of Disclosure of Mineral Projects of the Canadian Securities Administrators”
“Qualified Person” means a person that has the education, skills and professional credentials to act as a qualified person under NI 43-101
“Zn” means Zinc