https://www.engineeringnews.co.za

Altus subsidiary secures exploration licence for copper/gold zone in Ethiopia

3rd June 2019

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

A subsidiary of Aim- and TSX-V-listed Altus Resources has been granted a three-year exploration licence for the Zager copper/gold prospect in Ethiopia’s Tigray state.

The exploration licence, awarded to Altus subsidiary Altau Resources, covers 285 km2, which hosts 27 km of ophiolite belt within the Arabian Nubian Shield.

"The grant of [the Zager exploration licence] increases our strategic exploration holdings across the highly prospective Arabian Nubian Shield of northern Ethiopia to more than 877 km2.

“Altau selected the licence based on an in-house remote sensing study, which included an extensive review of historical geological data. These highlighted Zager's geological prospectivity and identified numerous artisanal alluvial gold workings,” said Altus CE Steven Poulton.

The Zager prospect is underlain by an almost identical geological terrane to that of Altau's Daro project, located 80 km to the east, where the company has rapidly discovered a number of encouraging copper and gold targets.

The geology of this region hosts the Bisha mine owned by Zijin Mining and the Asmara project owned by Sichuan Road & Bridge Mining Investment Development Corporation, in Eritrea, about 135 km north and northeast of Zager, respectively.

Zager is also just 10 km northwest of the Harvest project, which is being advanced by TSX-V-listed East Africa Metals.

Altau had identified priority exploration targets and artisanal gold workings and confirmed that first phase reconnaissance and sampling programmes would start imminently.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Roytec Global (Pty) Ltd
Roytec Global (Pty) Ltd

Roytec Global is an international company specializing in liquid / solid and mineral separation technologies for the Mining and Industrial sectors.

VISIT SHOWROOM 
Virtual Gas Network (Pty) Ltd
Virtual Gas Network (Pty) Ltd

Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.053 1.017s - 140pq - 2rq
Subscribe Now