Aim- and TSX-V-listed Altus Strategies has significantly increased its joint venture (JV) landholding at the Tabakorole gold project, in southern Mali, by 56%.
Altus holds a 49% equity interest and 2.5% net smelter return royalty on the project, and exploration activities at Tabakorole are being funded by ASX-listed Marvel Gold.
Altus CEO Steven Poulton says "Tabakorole is shaping up to be a significant gold discovery not just in southern Mali, but in the West African context”.
The 100 km2 increase in the JV project area is strategically significant as the new licence area hosts a potential north-westerly extension of the 5-km-long Asgard trend, which is defined by strong, and often coincident, geochemical and geophysical anomalies.
Marvel Gold is aggressively advancing the project, with drilling currently targeting near-surface, high-grade intercepts which fall outside of the previously modelled mineralisation, as well as undertaking regional surveys to define further drill targets.
These programmes are expected to contribute to an updated mineral resource estimate later this year.