The company said that reconnaissance pitting and mapping confirms additional supergene haematite.
Altus Strategies (LSE:ALS,TSXV:ALTS) has released an update on exploration activities at its 97.3-percent owned 400km2 Bikoula and Ndjele high grade colluvial iron ore project in southern Cameroon.
As highlighted in the press release:
- Reconnaissance pitting and mapping confirms additional supergene haematite
- Historic drilling results include 57.8m at 51.4 percent iron (incl. 30.8m at 57.9 percent iron from 3.8m)
- Previous metallurgical testing by SGS has yielded a 62.7 percent iron concentrate from gravity separation
- Project strategically located close to existing road and potential rail line to Kribi deep sea port
CEO of Altus, Steven Poulton said:
High-grade iron ore products are currently yielding significant premiums to general market prices. Our Bikoula project is located within a strategic iron ore corridor in southern Cameroon and hosts a high grade unconsolidated colluvial and haematite weathered blanket, above a primary magnetite orebody. As previously reported, preliminary metallurgical test-work on representative samples from Bikoula have yielded a 62.7 percent iron concentrate from gravity separation alone.