Alt Receives R&D Tax Incentive
- The Company has received a $546,000 R&D tax incentive payment from the Federal Government
- Second stage of RC exploration drilling to commence at Mt Roberts
o Drilling to commence 13 September 2017
o ~2000m exploration RC drilling at Mt Roberts outlier prospects
The Company has approval from the WA Department of Mines and Petroleum for 7,000m of drilling at Mt Roberts. The current 2,000m program, commencing 13th September 2017, is designed to test regional greenfields targets on the Mt Roberts mining leases and expand the areas of known prospectivity. This will ensure the Company meets the requirement to earn 51% of the Mt Roberts project, as per the agreement with Mount Roberts Mining Pty Ltd (see Note 1 below). An additional 5,000m resource drilling program has been planned to commence early next year to define a maiden resource at the Mt Roberts workings.
The Company intersected high-grade gold at Mt Roberts up to 67.4 g/t Au in November 2016 (see Note 2 below). This included:
- MRRC0003: 3m @ 28 g/t Au, including 1m @ 67.4 g/t Au
- MRRC0008: 1m @ 20.3 g/t Au
- MRRC0009: 1m @ 24.4 g/t Au, and
4m @ 7.96 g/t Au, including 2m @ 13.75 g/t Au
1 See ARS announcement, 30th August, 2016: http://abnnewswire.net/lnk/7868340D
2 See ARS announcement, 16th November, 2016: http://abnnewswire.net/lnk/KQJ6UJ73
About Alt Resources Ltd
Alt Resources Limited (ASX:ARS) is an ASX-listed resources company currently focussed on exploration and development of its Western Australian and NSW based precious and base metals projects including the Bottle Creek Gold Mine, the Mt Roberts gold project, the Paupong IRG mineral system and the Myalla massive sulphide project. Alt is strategically expanding its portfolio of assets in Australia with a mandate to become a gold producer generating increased shareholder value.
Alt Resources Ltd