Progress Report-Windy Hill
Canberra, Nov 22, 2016 AEST (ABN Newswire) - Alt Resources Ltd (
ASX:ARS) ("Alt") is pleased to announce that drilling has commenced at the Company's flagship Paupong Gold-Base Metals project in the southern Lachlan Orogen, NSW (see Figure 1 in the link below). 7 diamond holes have been planned across the prospective Windy Hill area, for a minimum of 2,000m. Windy Hill has been defined as a significant Intrusion-Related Gold (IRG) target through comprehensive geophysical, geochemical and geological investigation.
Key Points:
- Drilling commenced at the Paupong Gold-Base Metals Project, NSW
- Targets comprise combined geophysical and geochemical anomalies at Windy Hill
- 7 holes planned for a minimum of 2,000m
- Drilling program supported by funding from the NSW Government Cooperative Drilling New Frontiers initiative
The Windy Hill program is supported by the maximum drill funding of $200,000 for Round 2 of the NSW Government's New Frontiers Co-operative Drilling Program. The grant will cover 75% of per metre drilling costs. The Paupong Project is the only project to receive the maximum amount of funding in both rounds of the NSW Cooperative Drilling program.
Windy Hill Project
Windy Hill lies within Alt Resources' Paupong Project in the southern Lachlan Fold Belt, NSW. Prior to GFM Exploration's initial activities in the area from 2012, little or no mineral exploration had occurred beyond first pass stream sediment sampling in the 1970s. This historical sampling did not include gold analyses. Alt flew a 5,000line km aerial magnetic survey over the Paupong Project in January 2016, identifying possible buried intrusions, particularly beneath Windy Hill. These modelled intrusions have coincident soil geochemical anomalies (arsenic, lead and copper; pathfinder elements for IRG systems) and IP anomalies.
The Windy Hill anomalies are new targets that have not been drilled. As part of the New Frontiers funding award, Alt plans to test the geochemical, IP and deeper magnetic targets at Windy Hill. Drilling commenced on the 17th November, 2016.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/WA6S5X36
About Aurenne Alt Resources Pty Ltd
Aurenne Alt Resources Pty Ltd is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders.
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