EXPLORATION & DEVELOPMENT

Altus up on silver hits

Project generator Altus Strategies (AIM:ALS) has trumpeted silver findings of almost a kilogram per tonne at its Daro project in Ethiopia.

Staff reporter
Altus is an early-mover in Ethiopia, with the new prime minister making it much more appealing for investors

Altus is an early-mover in Ethiopia, with the new prime minister making it much more appealing for investors

Investors responded, sending the little-traded Altus' share price up 6.8% to 3.8p (US4.85c).

The boost came from rock chip sampling at the Simret prospect, which is part of the Daro VMS project.

The highest numbers from the 31-sample programme were 944g/t and 540g/t silver, and 3.55g/t gold.

Altus CEO Steve Poulton said the numbers showed the possibilities of the region's copper-gold-silver mineralisation.

"We are delighted to announce the discovery of the Simret prospect," he said.

"Our exploration has returned very high silver grades including 944g/t Ag, 540g/t Ag, 277g/t Ag and 191g/t Ag from rock chip sampling of quartz veins."

Altus was drawn to a 2.8km by 500m area through stream sampling, which showed anomalous copper, lead and zinc.

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