Africa focused exploration project generator Altus Strategies has entered its sixth African country having been granted an exploration licence in Côte d’Ivoire, West Africa.
Côte d’Ivoire – AIM-listed Altus Strategies’ 100%-owned subsidiary Aeos Gold has been granted the 369.5 km2 Prikro gold exploration licence in the Prikro and Koun-Fao Departments in eastern Côte d’Ivoire, approximately 240 km from the capital of Abidjan.
The licence has been awarded for an initial four-year term, after which it can be renewed for two further terms of three years each and a further two years under an exceptional renewal. Each renewal requires a 50% reduction in the licence area.
Prikro was selected by Altus following a geological assessment of the Birimian meta-sedimentary units of eastern Côte d’Ivoire. The licence contains granites and diorites that are 15 km in length and up to 6 km wide, which have intruded through the nose of an anticlinal fold into meta-sedimentary units.
Historical gold occurrences have been reported on the licence and active artisanal small-scale mining for gold reportedly occurs along strike of structures which transect the licence.
An initial first phase of reconnaissance exploration will now be undertaken by Altus Strategies’ technical team. This programme will include initial mapping and sampling of high priority targets as defined from the Company’s satellite imagery analysis and remote sensing work.
“Strategically, as a project generator business, this marks our sixth country of operation in Africa and the Prikro licence is our tenth gold project within our current portfolio of 16 distinct exploration projects,” says Altus Strategies CEO Steven Poulton.
Côte d’Ivoire has proven to be prospective for the discovery and development of world class gold mines and has excellent infrastructure. Several major gold projects are in production or coming on stream in the near future, including Tongon (Randgold Resources), Yaoure (Perseus Mining) and Bonikro (Newcrest Mining).
However, while Côte d’Ivoire reportedly contains over 35% of the Birimian greenstone belts of West Africa, the country remains relatively underexplored.