Ethiopia going for gold

2019-06-11T11:31:29+00:00 June 11th, 2019|News|

Altus Strategies’ Ethiopian subsidiary Altau Resources, has been granted the Zager exploration license in the Tigray National Regional State in northern Ethiopia. 

The Zager exploration license covers an area of about 285km2 in northern Ethiopia. The license targets the Nakfa terrane of the Neoproterozoic Arabian Nubian Shield, which is considered highly prospective for polymetallic and gold-rich Volcanogenic Massive Sulfide (VMS) mineralisation, as well as orogenic lode gold deposits.

According to Steven Poulton, CEO of Altus, a first phase reconnaissance exploration programme will include a field assessment of numerous remote sensing targets and a license-wide stream sediment sampling survey to prioritise areas of interest.

Zager is underlain by an almost identical geological terrane to that of Altus’ Daro project, located 80km to the east. The geology of this region hosts the Bisha mine owned by Zinjin Mining and the Asmara project owned by Sichuan Road & Bridge Mining Investment Development Corporation in Eritrea, about 135km north and north-east of Zager respectively. Zager is also just 10km northwest of the Harvest VMS project, which is being advanced by TSX-V listed East Africa Metals.