{"id":546899,"date":"2022-06-01T03:45:24","date_gmt":"2022-06-01T03:45:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/altus-strikes-gold\/"},"modified":"2022-06-01T03:45:24","modified_gmt":"2022-06-01T03:45:24","slug":"altus-strikes-gold","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/altus-strikes-gold\/","title":{"rendered":"Altus strikes gold"},"content":{"rendered":"

<\/a> Sawiris-backed Altus Strategies has made multiple \u201chigh grade\u201d gold discoveries <\/strong>across the four projects held by its Egypt subsidiary Akh Gold, it said in a statement<\/a> yesterday. The company has mapped more than 100 hard artisanal gold workings with grades of up to 100g of gold per ton, it said, adding that samples show a prospect of multiple multi-km long prospective structures.<\/p>\n

Further discoveries coming soon?<\/strong> \u201cMaiden exploration results indicate that we may already be on the tail of a number of potentially significant hard rock gold discoveries,\u201d said Altus CEO Steven Poulton.<\/p>\n

The company just won new exploration licenses:<\/strong> Altus was awarded two gold exploration licenses<\/a> in the Eastern Desert earlier this month in the government\u2019s recent bid round. The company said the two blocks cover 349 sq km, bringing the company\u2019s total land holding to 1.9k sq km.<\/p>\n

The announcement comes as the Oil Ministry <\/strong>bids farewell to competitive bid rounds<\/a><\/strong> following low interest in the recent tender. Going forward, the ministry will rely on direct contracts for new gold exploration licenses, source from the ministry told Bloomberg Asharq earlier this week.<\/p>\n

Four miners landed licenses to explore for gold in the Eastern Desert in the latest bid round as we reported last week<\/strong>, including Ankh Resources, Akh Gold, Canadian miner Lotus Gold, and Marine Logistic.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sawiris-backed Altus Strategies has made multiple \u201chigh grade\u201d gold discoveries across the four projects held by its Egypt subsidiary Akh Gold, it said in a statement yesterday. The company has mapped more than 100 hard artisanal gold workings with grades of up to 100g of gold per ton, it said, adding that samples show a […]<\/p>\n","protected":false},"author":1,"featured_media":546900,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8008],"tags":[1945,1988,372,72,7093,373],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining","tag-akh-gold","tag-altus-strategies","tag-eastern-desert","tag-enterpriseam","tag-gold","tag-mining","wpautop","entry"],"acf":{"mongo_id":"835c2807-5ca0-4c12-9758-0b940dc729eb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/98.jpg","photo_position":"above","related_issue":[546882],"teaser":"","voice_url":""},"yoast_head":"\nAltus strikes gold - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/altus-strikes-gold\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Altus strikes gold\" \/>\n<meta property=\"og:description\" content=\"Sawiris-backed Altus Strategies has made multiple \u201chigh grade\u201d gold discoveries across the four projects held by its Egypt subsidiary Akh Gold, it said in a statement yesterday. 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The UK-based mining firm was one of 11 companies to land exploration rights to 82 concession blocks in the Eastern\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/327.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558834,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/29\/sawiris-likes-chilean-copper\/","url_meta":{"origin":546899,"position":3},"title":"Sawiris likes Chilean copper","author":"enterpriseam admin","date":"29 August 2021","format":false,"excerpt":"Sawiris\u2019 Altus to take a stake in Chilean copper mine: Naguib Sawiris-backed mining firm Altus Strategies has completed the first close on an agreement that would see it take a 0.42% stake in the net smelter return royalty of Chile\u2019s Caserones Copper Mine, the company said in a statement today.\u2026","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/288.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547272,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/an-all-sawiris-mining-merger\/","url_meta":{"origin":546899,"position":4},"title":"An all-Sawiris mining merger","author":"enterpriseam admin","date":"15 June 2022","format":false,"excerpt":"Sawiris-backed Altus Strategies is merging with Toronto-listed gold royalty company Elemental Royalties in an all-stock transaction, the companies said in an LSE disclosure(pdf) yesterday. 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