Myalla Drilling Completed
- First pass RC drilling completed at the Myalla Project, NSW
- 6 holes of 9 hole program completed
- Massive sulphide intercepted in 4 holes
- Samples have been dispatched to ALS laboratories in Brisbane
- Assay results expected in March
The 6 holes were targeted to confirm historical intercepts at the Rock Lodge gold and base metals prospect, within the Myalla Project. Historical drilling at Rock Lodge by Southern Gold NL in 1985 intercepted massive sulphides with recorded grades up to 4.28 g/t Au, 35 g/t Ag, 0.79 % Cu and 13.5 % Zinc (see Note below). New drilling by Alt Resources has visually confirmed these results.
Sulphide mineralisation is strongly associated with silica alteration and minor quartz veining, indicating that a significant volume of mineralising fluid has passed through the rock. Significant sulphide mineralisation was observed in 4 holes, of the 6 hole program.
Samples have been dispatched to the ALS laboratory in Brisbane for assay, with results expected in March 2018.
Two of the 6 RC holes were deflected from the target due to strong silicification and a lack of rod stabilising equipment on the rig. Alt will undertake re-drilling of the Myalla project later in the year pending the outcomes of these initial assays.
Note: Sourced from NSW Geological Survey Open File Report GS1984_166.
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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