AIM-listed Altus Strategies, the Africa focused project and royalty generator, has discovered multiple hard rock gold workings at its 100% owned Zager exploration licence in northern Ethiopia.
Ethiopia – Altus Resources is targeting volcanogenic massive sulphide (VMS) gold deposits in the Tigray National Regional State of Ethiopia.
The company’s field teams have completed a maiden programme of prospecting and ground truthing on the recently granted Zager exploration, which has resulted in the discovery of five hard rock artisanal gold workings, two of which have shafts estimated to be up to 15m deep.
These workings primarily target steeply dipping northeast trending quartz veins and veinlets hosted within highly foliated slate units.
The company’s geologists have also identified copper sulphide minerals in hand specimen, including chalcopyrite and bornite.
Zager is located contiguous with the Adyabo licence, operated by East Africa Metals and which hosts the Da Tambuk and Mato Bula gold rich polymetallic VMS deposits.
The workings are broadly coincident with an anomaly defined by a historic helicopter-borne ‘AeroTEM’ electromagnetic survey, which was undertaken by previous operators in 2007.
Zager was selected by Altus Strategies 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 285 km2licence contains two northeast trending ophiolite belts and an overlaying tuffaceous volcano-sedimentary sequence, in addition to two syn-tectonic granitoid intrusions.
The licence is accessed by a network of maintained surfaced and graded roads and is crossed by a high voltage hydroelectric power line. The town of Shire which has a population of 71 000 and a regional airport offering daily flights to Addis Ababa is located 30 km to the southeast. A railway is being planned to connect Shire with the Red Sea port of Tadjoura in Djibouti.
Altus Strategies CEO commented:
“We are very encouraged to be reporting on such rapid discoveries of hard rock gold workings from what is our first exploration campaign at Zager. We are also excited that some of these workings are coincident with a historic airborne geophysical target.
“The historic geophysical data has defined a number of additional targets within a 27 km long ophiolite belt which transects the licence, which we are now in the process of following up on.”