Altus Strategies is encouraged by the discovery of hard rock artisanal copper workings at the Asagara prospect at its Tigray-Afar project in northern Ethiopia.

It said geological mapping at Asagara had identified semi-continuous oxide copper mineralisation over a strike length of 2.0km over widths of up to 20 and a parallel zone of 0.6km strike length which is up to 15m wide.

It said previous work at the Agamat prospect has identified a zone of shearing, from which rock chip samples have included grades of 13.5 g/t Au, 9.5 g/t Au and 7.7 g/t Au have been returned.

It said further mapping and sampling was planned at Agamat.

Chief executive Steven Poulton said: 'The discovery of hard rock artisanal copper workings at the Asagara prospect is highly encouraging, with sampling returning grades up to 5.58% Cu.

'Further channel sampling will be undertaken across the outcrop to assess the potential widths of mineralisation in order to direct a trenching programme planned for Q1 2018.

'The gold potential of the Agamat prospect (located 8km southwest of Asagara) has not yet been systematically explored, despite high grade gold grab samples up to 13.5 g/t Au and the presence of shearing.

'The next phases of work will include mapping of the mineralised structures to define targets for channel sampling. We look forward to updating shareholders with the progress from these programmes in due course.'


At 9:31am: (LON:ALS) Altus Strategies Plc Ord 1p share price was +0.25p at 8.25p