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) 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