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.