Quarterly Activities Report
- A 1,583 m, 4 hole diamond drilling program at Paupong, NSW has been completed at the Windy Hill prospect, as part of the NSW Government New Frontiers Drilling Initiative
o Assay results have been returned for the first two holes, with no significant results
o Sampling and assaying of the remaining holes is ongoing
- PDD018 intersected a 235m width of 10% + pyrite-mineralised breccia and diorite
o Preliminary rush sampling of this hole revealed no significant base or precious metals
- Dipole-dipole IP survey completed at Lone Ranger, identified coincident chargeable and resistive anomalies which may represent quartz vein-hosted sulphides
- A Programme of Works has been submitted to the Department of Mines and Petroleum, WA for approval of a 200 RC hole resource and exploration drilling program at Mt Roberts-Cottee
o RC drilling is scheduled to take place in June 2017.
Base and precious metals explorer Alt Resources Ltd (ASX:ARS) ("Alt or the Company") has focussed on drilling activities at its New South Wales Paupong Project during the Quarter (Figure 3, see link below). A 1,583 m diamond drilling program was completed at the Windy Hill prospect, Paupong. This program tested magnetic, IP, geochemical and geological targets. Logging of the holes has identified significant zones of sulphide mineralisation including a 235m downhole intercept of 10%+ pyrite mineralised diatreme breccia and diorite (Figures 1 and 2, see link below). Preliminary assays have returned no significant base or precious metals, however sampling and assaying is ongoing and the Company is committed to taking a whole-of-system approach to understanding the metallogeny of the Paupong area.
During the coming winter months, Alt plans to focus on resource and exploration drilling at the Mt Roberts-Cottee project in WA. To facilitate this, a Programme of Works (POW) has been submitted to the West Australian Department of Mines and Petroleum for approval of 200 RC holes. Drilling is scheduled to take place in June 2017.
The Company also received a $512,000 tax incentive payment from the Federal Government, for Research and Development activities at its flagship Paupong Project in southern New South Wales. The incentive was awarded for innovations and advancement of geological knowledge in this under-explored and poorly understood geological province. The funds will be used to further exploration in the Paupong area, as well as support exploration activities at the Company's Mt Roberts gold project in Western Australia.
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About Alt Resources Ltd
Alt Resources Limited (ASX:ARS) 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. The Company's portfolio of assets includes the newly acquired Bottle Creek gold mine located in the Mt Ida gold belt, the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, Myalla polymetallic Au-Cu-Zn project east of Dalgety in NSW and the Mt Roberts gold project located near the town of Leinster in WA.
Alt Resources, having acquired historical and under-explored tenements in the Mt Ida Gold Belt, aims to consolidate the historical resources, mines and new gold targets identified within the region. Potential at Mt Ida exists for a centralised production facility to service multiple mines and to grow the Mt Ida Gold Belt project to be a sustainable and profitable mining operation.
Alt Resources Ltd