Canberra, May 10, 2017 AEST (ABN Newswire) - Alt Resources Ltd (ASX:ARS) (the Company) has been successful in its application for DMP approval for the planned resource and exploration drilling programs at the Mt Roberts Gold project near Leinster, WA (see Figure 1 in the link below). The next phase of activity will include a close-spaced resource drilling program at the Mt Roberts Workings, as well as testing satellite exploration targets elsewhere within the tenements.

Key Points

- RC resource drilling program at Mt Roberts approved by the WA Department ofMines & Petroleum (DMP)

- Program now scheduled to commence in July 2017

- Program to undertake approximately 125 resource drillholes

- New exploration drilling to be undertaken at recently discovered shear zones

- Follow up drilling at the Rum Punch prospect to proceed

- Resource modelling will commence on completion of the resource drillingprogram

Alt Resources conducted a successful RC drilling campaign in October-November 2016, completing 2,088m at the Mt Roberts project. High grade gold was intersected during this drilling program, confirming a 200m strike length for mineralisation at the Mt Roberts Workings. Some of the more significant intercepts included:

MRRC0003: 3m @ 28 g/t Au, including
1m @ 67.4 g/t Au
MRRC0004: 1m @1.73 g/t Au from 42m
MRRC0006: 3m @ 1.95 g/t Au from 17m
MRCC0007: 1 m @ 5.59 g/t Au from 29m
MRRC0008: 2m @ 1.20 g/t Au from 39m
1m @ 1.28 g/t Au from 43m, and
1m @ 20.3 g/t Au from 49m
MRRC0009: 1m @ 24.4 g/t Au from 64m, and
4m @ 7.96 g/t Au from 78m, including
2m @ 13.75 g/t Au from 82m
MRC0011: 1m @ 1.43 g/t Au from 5m, and
1m @ 1.39 g/t Au from 39m, and
2m @ 1.20 g/t Au from 46m, and
1m @ 2.7 g/t Au from 89m
MRRC0014: 1m @ 1.20 g/t Au from 33m, and
1m @ 3.57 g/t Au from 51m
MRRC0015: 1m @ 0.97 g/t Au from 3m
MRRC0021: 1m @ 0.99 g/t Au from 18m
MRRC0032: 18m @ 0.88g/t Au from 34m, and
7m @ 1.66 g/t Au from 35m

The project area is characterised by a tightly folded sequence of altered komatiites, basalts, felsic volcanics, and fine sediments. Mt Roberts is located on the eastern limb of the Mt White Syncline and the western limb of the Leinster Anticline. Major NNW-striking shears are located to the east and west with secondary mineralised splays occurring within the licence area. Gold mineralisation at Mt Roberts occurs within shear zones near the ultramafic-mafic contact. It forms a steeply west-dipping lens approximately 200m along strike based on drilling intercepts, and remains open at depth.

The Mount Roberts area was recently re-mapped in detail as part of Alt Resources' evaluation of the Project, held in Joint Venture with Mount Roberts Mining. Mapping has shown that the mineralised shear zone at the Mt Roberts Workings is more continuous than previously thought. It now appears that shear-hosted mineralisation at the Screen Workings (330m north of Mt Roberts) and at Rum Punch (800m south of Mt Roberts) is located within the same structure as that at Mt Roberts itself (see Figure 2 in the link below). This major, high grade mineralised structure is displaced by minor, later, dextral faults which may act to concentrate oxide mineralisation where the structures intersect. The latter structures reveal extensional quartz veins and have also acted as intrusive pathways for younger pegmatite dykes.

A new zone of parallel, sheeted, mineralised quartz veins has been defined in the nose of the regional Leinster Anticline, and appears to lie along strike from known mineralisation at the historical Kathleen Workings. Samples collected from the fold nose quartz veins returned up to 1.25 g/t Au (see Figure 2 in the link below). Quartz veins in this location are narrow, sheeted and are associated with extensive wall-rock alteration of the host gabbros and basalts. Additional rock chip samples were collected from Screen and Kathleen. The Kathleen rock chip samples returned up to 17.05 and 23.6 g/t Au, whilst the Screen workings samples returned up to 3.36 g/t Au.

A key aspect of the Company's Corporate Strategy is to develop a small toll treatment gold project with the aim of generating cash flow to fund exploration programs without the need for additional capital raising and shareholder dilution. The Mt Roberts project meets the Company's criteria for implementing this strategy and is well located near Leinster, in close proximity to treatment plants. The project is accessed via the sealed Goldfields Highway and is approximately 19 km northeast of the operating Agnew gold mine (Gold Fields Ltd) shown in Figure 1 (see the link below).

The Company will mobilise the drilling rig to Leinster in July to undertake the drilling program, which is estimated will take 5-6 weeks to complete.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/EW9598V4


About Alt Resources Ltd

Alt Resources LtdAlt Resources Limited (ASX:ARS) is an Australian based mineral exploration company. The Company portfolio of assets include the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, the Myalla polymetallic Au-Cu-Zn deposit, the Mt Roberts gold project and the newly acquired Mt Ida South gold project incorporating the Bottle Creek gold mine.

    


Contact

Alt Resources Ltd
T: 1300-66-00-01
M: +61-406-069-243
E: info@altresources.com.au
www.altresources.com.au



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