EXPLORATION & DEVELOPMENT

Altus receives Morocco exploration licences

Project generator Altus Strategies (AIM:ALS) has been granted new exploration licences in Morocco to start zinc and copper exploration.

Staff reporter
Altus' exploration licenses in Morocco

Altus' exploration licenses in Morocco

The Ammas, Takzim Est and Arfa licences cover 87.55sq.km and are all valid for an initial three-year term, which could be renewed for a further four years thereafter.

Altus CEO Steven Poulton said the licences were strategically located and had been selected on the basis of the company's remote sensing programmes across terrains considered to be prospective for zinc, copper and other base metals.

He said the company's field team had already started exploration at the Ammas licence, which comprised two three-year exploration licences covering 31.75sq.km and was located 30km south of Marrakech in an active mining district and 3km along strike of the Hajjar VMS zinc-copper mine.

"Encouragingly our geologists are reporting the discovery of quartz stockworks and gossanous material in outcropping meta-volcanics and meta-siltstones at Ammas. Once this initial reconnaissance phase of exploration is complete, the field team will move on to Takzim Est and Arfa," Poulton said.

The Takzim Est licence, comprising three exploration licences covering 39.8sq.km, is situated 6km east of Altus' Takzim zinc project in eastern Jebilet, while the Arfa licence in the country's Oriental province consisted of one exploration licence over an area of 16sq.km.

Altus' shares were trading at 7.5p (US9.9c) Tuesday, 5.26% higher than the previous close.  

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.