Altus Strategies PLC has discovered multiple high-grade gold prospects across all four of its projects in Egypt, and that it has been awarded two further gold-exploration licenses in the country.
The firm has mapped more than 100 hard-rock artisanal gold workings across its projects, with grades of up to 100 grams of gold a metric ton. The company also said it has been awarded two new licenses totaling 349 square kilometers after a competitive bid, bringing its total landholding in Egypt up to 1,914 square kilometers across six key areas. Altus said an exploration program was under way to define and prioritize potential drill targets.
“Taken together [the] results from our very first phase exploration program in Egypt are exceptional,” Chief Executive Steven Poulton said.
The London-listed mining company is an income generating mining royalty company, with a diversified portfolio of production, pre-production and discovery stage assets. The Company’s differentiated approach of generating royalties on its own discoveries in Africa and acquiring royalties globally through financings and acquisitions with third parties has attracted key institutional investor backing. Altus has established a global portfolio comprising 33 royalty interests and 27 project interests across nine countries and nine metals.
The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates.