95.8 % gold recovery at Western Mali

Diba gold project excellent results 

Altus Strategies announces excellent results from metallurgical testwork on oxide and sulphide samples from the Company’s 100 % owned Diba gold project in western Mali. The work was undertaken to test the amenability of Diba ores to carbon-in-leach and heap leach processing. The findings of the process said, Excellent gold recoveries from oxide and sulphide samples from Diba gold project in Mali.

Steven Poulton, Chief Executive of Altus, commented, “The results of the metallurgical testwork on both oxide and sulphide material from Diba are simply excellent. Heap leach amenability shows 95.8 % gold recovery at a coarse crush size. 

This recovery is significantly higher than the 80 % modelled in the current PEA which we reported on in July. More significantly, the testwork on fresh (sulphide) samples shows that CIL processing will likely be very effective, with 86.8 % gold recovery at attractive grind sizes. 

 “Diba already boasts a robust US$81M post-tax NPV for the oxide ounces alone. The significantly enhanced recoveries and addition of the sulphide resource, should add considerable economic value to the Project. We have commissioned an updated independent PEA and look forward to reporting on the results in due course. 

 “Aside from the existing resource area, Altus has defined seven priority prospects at Diba, none of which have ever been systematically drill tested. These prospects are all located within 7 km of the current mineral resource, which itself is only 13 km from the multi-million ounce Sadiola gold mine. Altus is currently planning a drill programme for Diba and we look forward to providing an update on this in due course.” 

Preliminary Economic Assessment (PEA) of the Company has engaged Mining Plus UK Ltd to update the existing Diba PEA to incorporate the higher oxide recoveries reported in this release (95.8 % compared to 80 % used in the existing PEA). 

Importantly, the PEA will be broadened to model CIL processing to incorporate the current sulphide MRE of 33,600 ounces at 1.12 g/t Au Indicated and 153,300 ounces at 1.05 g/t Au Inferred as set out. Incorporating the oxide and sulphide resource and using the higher processing recoveries is expected to have a materially positive impact on the current US$81m (post-tax) NPV10 as calculated under the existing PEA.