The Tabakorole gold project, a joint venture (JV) between Altus Strategies and Marvel Gold, is shaping up to be a significant potential development project, in West Africa, and now boasts a resource of more than one-million ounces.
Tabakorole hosts a deposit with an estimated indicated resource of 360 000 oz and an inferred resource of 665 000 oz at 1.2 g/t, TSX-V-listed Altus reported on Tuesday, announcing an updated independent mineral resource estimate.
Drilling by JV partner Marvel continued to demonstrate consistent thickness and grades over the project’s 3.2 km strike length, as well as the discovery of two new shallow, higher-grade zones of mineralisation adjacent to the existing deposit, said Altus CEO Steven Poulton.
These parallel zones, he added, could potentially provide some low-strip start pit options for any eventual mining operation.
"With 70% of the upgraded mineral resource estimate now within 150 m of surface, with the deposit growing to over a million ounces in all categories and with high metallurgical gold recoveries averaging 97%, Tabakorole is shaping up as a significant potential development project in West Africa with substantial upside,” said Poulton.
Marvel has the right to earn up to 80% in Tabakorole by funding exploration, culminating in a definitive feasibility study. Thereafter, Altus has the right to co-finance or dilute its 20% interest. Altus also retains a 2.5% net smelter royalty on the project.