African focused exploration company Altus Strategies has made a significant silver discovery in northern Ethiopia.
AIM listed Altus’ CEO Steve Poulton announced that silver grades at the Simret prospect at its Daro project, in the Tigray regional state, include 944 grams per tonne (g/t) of silver (Ag) and 540g/t Ag. These results were obtained from rock chip samples.
Gold and lead are also present at Simret.
Poulton says that geological mapping and stream sampling indicate the potential strike length of the Simret prospect to be about 2.8km and 0.5km in width. The prospect is located about 3km south of the existing Teklil prospect.
“At Teklil we have mapped copper oxide mineralisation and discontinuous gossanous outcrop for over 900m in strike length,” says Poulton.
“Coincident with this field programme, we have engaged remote sensing consultancy Geosense (Netherlands) to complete a multi-spectral remote sensing analysis of the Daro licence using Sentinel satellite data. This work has generated numerous iron oxide occurrences across the Daro licence, which may represent key Volcanogenic massive sulfide (VMS) markers,” Poulton adds.