Acquires Historical Gold Mine in the Eastern Goldfields
The acquisition, under an option to purchase, was mined in the 1980s and extensive drilling took place to define the gold resources. According to CEO James Anderson, a drilling program is scheduled to begin as soon as possible to validate the historical data to JORC compliance.
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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.
Alt Resources Ltd