Altus Strategies said a subsidiary had been granted new exploration licences, targeting zinc and copper in Morocco.

The Ammas, Takzim Est and Arfa licences covered a combined 87.55 square kilometers in the north African nation, the company said.

Chief executive Steven Poulton said a field team had immediately commenced exploration at Ammas, which is about 30km south of Marrakech.

'Encouragingly our geologists are reporting the discovery of quartz stockworks and gossanous material in outcropping meta-volcanics and meta-siltstones at Ammas,' he said.

'Once this initial reconnaissance phase of exploration is complete, the field team will move on to Takzim Est and Arfa.'

'We look forward to updating shareholders on the results from these programmes in due course.'

At 2:14pm: (LON:ALS) Altus Strategies Plc Ord 1p share price was +0.38p at 7.5p