Altus Strategies: High grade gold bearing quartz veins at Laboum project, Cameroon
Thursday, Oct 05, 2017
Altus Strategies Plc (AIM: ALS), the Africa focused exploration project generator, announces the discovery of multiple high grade gold bearing quartz veins at the Company’s Laboum gold project (“Laboum” or the “Project”) in northern Cameroon.

Highlights:

• 995m of quartz veins mapped to date with veins up to 250m long and 40m wide
• Grab samples including elevated gold grades of 24.50 g/t, 16.15 g/t and 3.04 g/t Au
• Hosted within silicified and sheared metasedimentary rocks with grades up to 6.86 g/t Au
• High resolution ground magnetic data indicates potential for further vein discoveries
• Systematic channel sampling programme to commence in October

Steven Poulton, Chief Executive of Altus, commented:

“The discovery of this quartz vein system with grades up to 24.5 g/t gold from reconnaissance grab sampling is encouraging given its potential scale. Approximately 1km of outcropping veins has been mapped to date with exposed widths varying between 1m and 40m. Prior to this discovery, the primary gold target at Laboum has been the highly sheared and silicified metasedimentary units, which host a number of kilometre scale gold in soil anomalies and hard rock artisanal workings. Grab samples from the sheared host rocks have returned grades up to 6.86 g/t Au.

“The discovery was made by our field teams while undertaking the recent 1,028 line km high resolution ground magnetic survey. Interpretation of the ground magnetic data indicates that a number of the veins potentially continue beneath soil cover and form part of one or more connected veins extending along a strike length of approximately 2.8 km, as well as the potential existence of further veins that have yet to be discovered. In addition to mapping, we will now undertake a systematic channel and grab sampling programme across the veins to determine the gold grade distribution within individual veins and across the system.”

Gold bearing quartz vein discovery

Coincident with the ground magnetic and infill soil sampling programmes, the Company undertook a programme of geological mapping and reconnaissance sampling on a series of quartz veins discovered across a portion of the Landou prospect. A total of 24 veins have been mapped, cropping out along a discontinuous strike length of approximately 3km within a 750m wide corridor. Individual veins have mapped strike lengths of up to 250m and exposed widths of between 1m to 40m.

Fifty reconnaissance vein samples were collected from the quartz veins and the highest three returned elevated gold grades of 24.5 g/t, 16.15 g/t and 3.04 g/t. The gold-bearing veins are typically milky-white in colour, contain weakly disseminated pyrite and exhibit varying degrees of weathering in the form of box-works and secondary iron oxide surface staining. The veins dip sub-vertically and are orientated broadly parallel to the overall NE-SW trend of the Laboum shear zone. They are hosted within a sequence of silicified metasedimentary rocks and situated proximal to a sheared contact with a granitic unit which has been mapped for over 4km. The lithological competency contrast between the two rock types is considered to represent a prospective target with veins occurring within dilational structures. The veins occur approximately 3km along strike from a previously sampled highly sheared and silicified metasedimentary host rock, where grab samples graded up to 6.86 g/t Au.

Laboum Project: Next phase of work

The next phase of exploration will commence immediately and include a systematic channel sampling programme across the veins and further mapping to discover potential new veins, guided by the ground geophysical survey data. The channels will be cut at regularly spaced intervals of between 25m and 50m along the strike length of the veins, with 1m composite samples being collected. Further grab samples will also be collected from previously sampled quartz veins and any new veins that are discovered, to assess the grade distribution and variability across each target.

For more information, please visit: http://aminex-plc.com

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