UK-based mining company Altus Strategies has secured the exploration licence for the Zolowo area in Lofa County, north-western Liberia.
Through the 732km² exploration licence, the company expects to target Archaean greenstone-hosted gold deposits in the region.
According to the company, the licence comprises numerous and extensive artisanal alluvial workings.
Altus Strategies chief executive Steven Poulton said: “The licence targets a significant 33km-long Archaean greenstone gold belt, some of the drainages from which host numerous and extensive alluvial workings.
“The Archaean geology of Western Liberia is prospective for the discovery of significant gold deposits, with the New Liberty mine located 190km SW of Zolowo being testimony to this.”
The company is engaged in preparations to begin the first phase reconnaissance programme of mapping and sampling.
Alongside gold, the licence also allows the company to undertake the exploration of gold, diamond, base metals, and silver in Lofa County.
Initially, the company will hold the licence for three years, with an option to renew it for a further two years twice.
Each renewal requires a 50% reduction in the licence size.
Under the planned reconnaissance exploration programme, the company will take up mapping and sampling of high-priority hard rock targets and artisanal workings.
Once the process is completed, a licence-wide stream sediment survey is expected to be conducted to define the primary sources of the alluvial goldfields.