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Altus takes next steps at Bikoula development

17th March 2021

By: Marleny Arnoldi

Deputy Editor Online

     

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TSX-V- and Aim-listed Altus Strategies has completed a strategic review process, undertaken by independent consultants Mining Plus, on the company’s 97%-owned Bikoula iron project, in Cameroon.

The strategic review was intended to inform the next steps of development for the project, including a review of the processing, product specification, development and shipment options.

Bikoula hosts a deposit with a historic mineral resource estimate of 46-million tonnes, grading 44% iron. The company says that at least 75% of the 13-km-long priority target area remains untested.

The project hosts a substantial colluvial iron weathered blanket, which rests above a primary iron deposit.

Altus CE Steven Poulton points out that recent infrastructure improvements in the region, including a containerised deep-water port at Kribi, as well as significant road improvements, are expected to further enhance the economics of the project, as will the price of iron-ore, which has been trading above $100/t since June 2020.

The company is now considering undertaking a resource expansion drilling programme.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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