- 8,000m RC resource drilling planned for the Emu Deposit, Bottle Creek
- Plan of Works application submitted to the WA Govt
- Program scheduled to commence in March 2018
- Program to undertake approximately 91 resource drillholes
- Validation of historical drillholes to be undertaken
- Resource modelling will commence on completion of the resource drilling program
The Company will undertake a minimum of 8,000m of reverse circulation (RC) drilling at the previously un-mined Emu deposit to validate historical intercepts, increase confidence in historical data and expand the known zones of mineralisation immediately along strike. Grades up to 34.2 g/t Au were reported from historical drilling (see Note 1 below), alongside broad, consistent intercepts such as 38m @ 3.6 g/t Au. Reported intercepts are shallow, hosted within an ~80m deep lateritic zone.
Drilling is scheduled to commence in March 2018, and will be phased to progressively bring the Bottle Creek resource into JORC compliance, beginning with the Emu deposit. The second phase of activity will include close-spaced resource drilling at the Southwark deposit (POW currently in preparation), 3km north of the VB pit (see Figure 2 in link below).
Alt entered into a legally binding Option to Purchase Agreement in November 2017 to acquire 100% of the Bottle Creek Gold Mine (see Note 2 below).
1 See ARS Announcement, 22nd November, 2017; http://abnnewswire.net/lnk/D5NQHG4E
2 See ARS Announcement, 8th November, 2017; http://abnnewswire.net/lnk/QCE95126
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About Alt Resources Ltd
Alt Resources Limited (ASX:ARS) operates in the secure jurisdictions of Western Australia and New South Wales, focusing on gold and base metals. The Company's objectives are to continue aggressive exploration activities to develop the existing projects and define new JORC compliant mineral resources. Key focus for the Company is the Mt Ida Gold Belt region which includes several high value drill and project targets.
The Company also owns a 70% interest in the Paupong and Myalla gold and base metal projects in the Lachlan Orogen, NSW. An aggressive exploration program was undertaken throughout 2016 at the Paupong intrusion-related Au-Cu-Ag system, over an area of 60 square kilometres.
The Board considers the portfolio of assets to represent excellent potential for the discovery of economic gold and copper deposits. Exploration by the Company is ongoing with drilling programs planned and underway at Bottle Creek, Paupong, Myalla and the Mt Roberts project.
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Alt Resources Ltd (ASX:ARS) Drilling Commences at Bottle Creek Gold Project, WA Camp Construction Completed on Budget