Altus identifies numerous high-priority gold targets at Egyptian properties
Aim-listed Altus Strategies has identified numerous high-priority gold targets from remote sensing across all four of its projects covering 1 565 km2 in the Eastern Desert of Egypt.
The projects were recently awarded to the company's 100%-owned subsidiary Akh Gold as part of a competitive international bid round undertaken by the Egyptian Mineral Resource Authority.
CE Steven Poulton said on March 10 that the remote sensing programme had defined over 100 interpreted historical hard rock gold workings, including at least two major historical mining camps, one of which is at Bakriyah, where historical reports indicate that mining activities extended discontinuously across a significant area.
Some of the interpreted hard rock gold workings are visible in satellite imagery as arrays of pits and trenches, which can be up to 375 m long, he adds.
Altus is establishing a technical team in Egypt and intends to start fieldwork shortly before the start of systematic exploration by the second quarter of 2021.
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