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Altus confirms high grade discovery at Laboum

05 October 2017 07:41

Altus Strategies has announced the discovery of multiple high grade gold bearing quartz veins at the company's Laboum gold 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

Chief executive Steven Poulton said: '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.'

Story provided by StockMarketWire.com

Related Company: ALS

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