Exploration activities at Altus Strategies’ 97.3%-owned 400 km2 Bikoula and Ndjele high-grade colluvial iron-ore licences in southern Cameroon have confirmed additional supergene haematite.
Reconnaissance pitting and mapping have confirmed additional supergene haematite; while the drilling results include 57.8 m at 51.4% Fe.
“High-grade iron-ore products are currently yielding significant premiums to general market prices,” notes Altus CEO Steven Poulton.
The project is located within a strategic iron-ore corridor in southern Cameroon and hosts a high-grade unconsolidated colluvial and haematite weathered blanket, above a primary magnetite orebody.
Previous reports on preliminary metallurgical testwork on representative samples from Bikoula yielded a 62.7% iron concentrate from gravity separation alone.
A programme of reconnaissance geological mapping and pitting has been completed over two previously untested magnetic anomalies at Bikoula.
The pitting programme has successfully confirmed the presence of clasts of supergene oxidised banded iron, indicating that the colluvial iron-ore body continues along strike into these areas, indicates Poulton.
Surface mapping has identified oxidised supergene magnetite banded iron formation, as well as haematite colluvium.
A high-resolution airborne magnetic survey completed by the company identified three priority prospect areas.
Forty-eight diamond drill holes, totalling about 3 900 m, have been drilled to date at Bikoula. Over half of the holes have intersected at least 20 m of greater than 40% iron.
The 200 km2 Bikoula licence and contiguous 200 km2 Ndjele licence were selected based on the presence of significant magnetic geophysical signatures.