ADDIS ABEBA – Altus Strategies Plc., the Africa focused project and royalty generator, announces it has discovered of gold workings discovered at its recently acquired Ethiopian license.
The gold workings were discovered at its wholly-owned 285 square kilometer Zager exploration license in the Tigray National Regional State, said the United Kingdom-based firm in a statement on Thursday.
The deposit has been discovered in Semien Mi’irabawi Zone, approximately 175km northwest of the Tigray state capital of Mekelle and 610km north of Addis Ababa.
Hard rock gold workings discovered at recently granted Zager license, said the company in a statement.
“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,” said Steven Poulton, Chief Executive of Altus.
He said, “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 27km long ophiolite belt which transects the license, which we are now in the process of following upon.
Zager is located in the heart of a highly prospective region for the discovery of gold-rich VMS deposits and I look forward to updating shareholders on the results from these programs in due course.”
The Company’s field teams have completed a maiden program of prospecting and ground truthing on the recently granted Zager exploration license in northern Ethiopia.
The Company’s geologists have also identified copper sulphide minerals in hand specimen, including chalcopyrite and bornite.