Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS) OTCQX (ALTUF) / Sector: Mining
Altus Strategies Plc
(“Altus” or the “Company”)
Grant of Projects doubles Altus’ land holding and increases portfolio to seven base and precious metals projects in Morocco
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) announces the granting of three new copper and silver exploration projects (the “Projects”) totalling 252 km2 in the western Anti-Atlas of the Kingdom of Morocco (“Morocco”). The Projects were awarded to the Company’s 100% owned subsidiary, Aterian Resources Limited, following a competitive tender process.
- Three new copper and silver projects totalling 252 km2 granted in central Morocco
- Projects considered highly prospective for sediment-hosted mineralisation
- Izougza copper-silver project is located 20 km southeast of the Zgounder silver mine
- At least four historically recorded copper occurrences within the Projects
- Strategic land holding in Morocco enlarged to seven base and precious metal projects
- Remote sensing underway with exploration programmes commencing shortly
- Further licence applications submitted across key mineralised belts in Morocco
Steven Poulton, Chief Executive of Altus, commented:
“We are delighted to be awarded three new copper and silver projects in Morocco as part of a competitive tender process. The Projects total 252 km2 and target sedimentary copper-silver mineralisation, within the prospective western Anti-Atlas belt of Morocco. Altus has also applied for a number of further projects across Morocco and awaits the results of these submissions.
“Significantly, we have been granted the 24 km2 Izougza Project, located approximately 20 km southeast of the Zgounder silver mine, operated by TSX-listed Aya Gold & Silver Inc. We have also been granted the 85 km2 Azrar and 143 km2 Tata Projects, located approximately 43 km and 50 km east and southeast respectively of the Tizert copper mine, operated by the Managem Group. With the grant of these Projects we have approximately doubled our land holding to 511 km2 and increased our portfolio to seven base and precious metals projects in Morocco.
“Our field team will commence exploration shortly, focusing on a number of priority targets defined from our remote sensing programmes. In the meantime we look forward to the potential grant of further projects that we have applied for in Morocco.”
- Izougza Copper-Silver Project (24 km2):
- Prospective for vein hosted silver and copper mineralisation
- Located on a strike-slip structure separating Proterozoic granites and volcanics
- Along strike of historical mapped copper, silver, cobalt and gold occurrences
- Located 20 km from the Zgounder silver mine, operated by Aya Gold and Silver Inc. (TSX: AYA) (mineralisation hosted at Zgounder is not necessarily indicative of mineralisation at Izougza)
- Azrar Copper Project (85 km2):
- Hosts several mapped historical copper occurrences
- Sedimentary copper potential in Neoproterozoic to Ediacaran sediments
- Located 45 km east of the Tizert copper mine (mineralisation hosted at Tizert is not necessarily indicative of mineralisation at Azrar)
- Tata Copper Project (143 km2):
- Hosts a mapped historical copper-gold and gold occurrence
- Sedimentary copper potential in Adoudounian sediments on the flank of an inlier
- 50 km southeast of the Tizert copper mine (mineralisation hosted at Tizert is not necessarily indicative of mineralisation at Tata)
Izougza Copper-Silver Project (24 km2) - Geology
The Project is located on a major regional east-west trending strike-slip fault zone between Proterozoic granite-migmatite terrain and Neoproterozoic volcano-sediments overlain unconformably by Cenozoic volcano-sediments. Numerous copper, silver, gold and cobalt mineral occurrences are located along strike to the east and west with an apparent association with the major strike-slip fault zone.
Azraz Copper Project (85 km2) - Geology
The Project is located on the flank of the Agadir-Melloul inlier in the Western Anti-Atlas and is composed of terminal Neoproterozoic volcano-sediments overlain unconformably by Adoudounian sediments. These sedimentary sequences are known to host copper deposits in the Western and Central Anti-Atlas. A series of north to northeast striking faults and fold hinges traverse the project and are cut by a series of west-northwest interpreted structures.
Tata Copper Project (143 km2) - Geology
The Project is located in the Tata inlier of the western Anti-Atlas and is composed of Palaeoproterozoic flysch sequences deposited in a tectonic basin, intruded by a granitic complex and complexly deformed during successive Eburnean, Pan-African and Hercynian orogenies. The Palaeoproterozoic metasediments are unconformably overlain by Neoproterozoic volcano-sediments, in turn unconformably overlain by Adoudounian sediments that are known host to major sedimentary copper deposits in the Western and Central Anti-Atlas.
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/5036/altus_nr_-_morocco_15_march_2021.pdf
- Location of the Projects in Morocco are shown in Figure 1
- Location of key deposits and Projects within the western Anti-Atlas is shown in Figure 2
- Priority targets within the Izougza Copper-Silver is shown in Figure 3
- Priority targets within the Azraz Copper Project is shown in Figure 4
- Priority targets within the Tata Copper Project is shown in Figure 5
Figure 1: Location of the Projects in Morocco
Figure 2: Location of the Projects and key deposits in the western Anti-Atlas
Figure 3: Priority targets within the Izougza Copper-Silver Project
Figure 4: Priority targets within the Azraz Copper Project
Figure 5: Priority targets within the Tata Copper Project
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
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.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organisation of Canada accepts responsibility for the adequacy or accuracy of this release.
Market Abuse Regulation Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR") until the release of this announcement.
Glossary of Terms
The following is a glossary of technical terms:
“Ag” means silver
“Cu” means copper
“g/t” means grams per tonne
“km” means kilometres
“NI 43-01” means National Instrument 43-101 Standards of Disclosure of Mineral Projects of the Canadian Securities Administrators”
“Mt” means millions of tonnes
“Qualified Person” means a person that has the education, skills and professional credentials to act as a qualified person under NI 43-101