Quarterly Activities Report March 2018
Alt Resources' recent acquisitions of the Bottle Creek Gold Project and neighbouring Mt Ida projects in Western Australia are part of the Company's strategy to make new discoveries and expand existing resources using modern exploration techniques.
Alt commenced reverse circulation (RC) drilling at Bottle Creek during the quarter as part of fast-tracking a pre-feasibility study for the project. Alt is aiming to establish a central gold production hub at Bottle Creek, where it could process ore from multiple open-pit operations at Bottle Creek, Mt Ida South and Quinns.
Alt also continued exploration of its Myalla and Paupong projects in NSW.
Bottle Creek, WA
- 8,000m of RC drilling completed at Bottle Creek
- First modern exploration at the project since 1988
- Results from Emu deposit included
o 23m @ 4.0 g/t Au from 31m including 1m @ 10.2 g/t Au, 55 g/t Ag from 71m
o 26m @ 2.3 g/t Au from 33m including 7m @ 7.1 g/t Au from 45m including 1m
@ 21.8 g/t Au from 48m
o 22m @ 6.3 g/t Au from 52m including 5m @ 10.6 g/t Au from 60m
o 29m @ 4.0 g/t Au from 39m including 5m @ 7.2 g/t Au from 60m
o 6m @ 19.3 g/t Au, including 2m @ 51.7 g/t Au
o 27m @ 5.6 g/t Au, including 3m @ 10.5 g/t Au and 1m @ 15.2 g/t Au
o 7m @ 9.9 g/t Au (EOH), including 1m @ 23.8 g/t Au
- Assays pending for drilling at Southwark
- RC drilling at Emu to continue until end of April
- Diamond drilling to commence in May
- Strategy for development of Bottle Creek as a mining hub for the Mt Ida gold belt
- Alt is fast-tracking a PFS for Bottle Creek
Mt Ida Projects, WA
- Acquisition of Mt Ida South, Quinns and Mt Ida JV projects nearing completion
- Combined existing JORC resource estimate of 1.23 Mt @ 2.46 g/t Au, for 97,037 oz Au
- Review underway to generate new targets for exploration across these projects
Myalla Project, NSW
- Six holes completed targeting mineralisation beneath historical workings and confirmation of previous exploration
- Results included
o 3m @ 2.1 g/t Au, 3.7 g/t Ag and 174 g/t Bi from 17m and
o 2m @ 2.7 g/t Au, 11.8 g/t Ag, 300 g/t Bi and 0.48% Cu from 62m
o 1m @ 5.4 g/t Au, 55.6 g/t Ag and 212 g/t Bi from 40m
- Results confirmed the system as polymetallic and similar to the Paupong system nearby
- Diamond drilling is planned for late in 2018
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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