AMN - LIBERIA: Altus identifies 50-plus alluvial gold sites

Results from Altus Strategies PLC’s recently completed first phase exploration program at its Zolowo Gold Project in Liberia have shown more than 50 alluvial gold mining sites. The largest mine site mapped to date is 250 metres long and 50 metres wide.

The Zolowo licence hosts a 33km-long Archaean greenstone belt, which is a likely gold source.

The company says the next step is to systematically sample stream sediment.

Altus has visited more than 50 separate workings to date, clustered within the central part of the licence. Of these, 35 were found to be active, and the largest extended for approximately 250 metres.

At each working up to 25 artisanal miners were found to be selectively mining gold-bearing gravels, often at the boundary between saprolite and bedrock.

Altus said it was reported that gold has been mined in this way from the Zolowo area since the 1930s.

As part of the reconnaissance program a number of hard rock samples have been collected for assaying.

Altus chief executive Steven Poulton said, "We are very encouraged by the significant number and scale of the artisanal alluvial gold mining operations discovered at Zolowo.

“It seems likely that the primary source for the gold is associated with the Archaean age greenstone belt that transects the licence for approximately 33km. The belt sits on the same regional geological trend as the New Liberty Gold Mine which is owned and operated by Avesoro Resources.

“The Archaean greenstones of western Liberia are still relatively unexplored. This is despite their geological setting being analogous to many famous gold mines and camps such as at Kerr-Addison in Ontario, the Golden Mile in Kalgoorlie, and Homestake in the United States.

“A follow up systematic stream sediment program is now being planned."

Altus is a project generator focused on Africa. Its aim is to cost-efficiently discover multiple projects simultaneously, prior to entering joint ventures with third parties who fund the next phases of exploration and development.

Altus has a portfolio of projects in Cameroon, Ethiopia, Liberia and Morocco, targeting gold, bauxite, copper, iron ore, zinc and silver.

www.altius-strategies.com