High Grade Gold Intercepts at Final RC Holes at Emu Deposit
High Grade Gold Intercepts at Final RC Holes at Emu Deposit
Canberra, June 21, 2018 AEST (ABN Newswire) - Alt Resources Ltd (ASX:ARS), (Alt or 'the Company') is pleased to announce the results from the final 30 RC holes drilled at the Emu deposit, Bottle Creek Gold Project, WA. Emu lies approximately 4 km to the north of the VB pit Figure 1 (see link below) and the final results indicate continuity of the broad gold zones encountered at Emu (see Note 1 below). Gold assays have been received from drillholes EMRC034 to 038 and EMRC072 to 096 with individual assays up to 55.6 g/t Au (see Note 2 below). Significant results are listed in detail in Table 1 (see link below). High grade gold zones occur within and alongside broad, consistently graded zones such as 24m @ 5.8 g/t Au (see Note 3 below). These broad zones of Au mineralisation are a positive feature for potential future mining operations, ensuring a minimal 'nugget' effect and a more easily extracted bulk target.

HIGHLIGHTS:

- Results from the final 30 RC drillholes at the northern end of Emu intercept high grade gold across broad zones

- 8,500m of RC drilling completed for 96 holes at Emu with final results reported today

- Significant intercepts from the north end of Emu include:

o 11m @ 11.7 g/t Au from 82m, including 6m @ 18.4 g/t Au

o 24m @ 5.8 g/t Au from 56m, including 2m @ 27.5 g/t Au

o 18m @ 4.8 g/t Au from 58m, including 1m @ 31.8 g/t Au and 5m @ 5.8 g/t Au

o 10m @ 4.4 g/t Au from 39m, including 4m @ 7.8 g/t Au

o 7m @ 4.3 g/t Au from 65m, including 2m @ 11.7 g/t Au

o 18m @ 3.8 g/t Au from 53m, including 3m @ 8.4 g/t Au

o 9m @ 3.4 g/t Au from 95m

o 11m @ 2.6 g/t Au from 94m

o 13m @ 2.4 g/t Au from 39m, including 4m @ 6.7 g/t Au

- Broad high grade gold zones continue at the north end of the Emu deposit indicating mineralisation is open along strike and at depth

The final results from north Emu demonstrate that mineralisation is open to the north, with the northern most line of drilling including 9m @ 3.95 g/t Au (EMRC086) and 11m @ 2.57 g/t Au (EMRC087; Figure 2 and Table 1) (see link below). This zone of gold mineralisation at north Emu has not been closed off by either modern or historical drilling along strike towards the Southwark deposit, which lies 600m to the north.

Drilling at the un-mined Emu deposit was completed on the 10th May, 2018, for a total of 8,500m. The program was achieved well ahead of schedule and within budget.

Alt CEO James Anderson said; "The final results from this RC program clearly indicate that the Emu deposit is very robust. We have 600 metres of infill drilling planned between the north end of the Emu deposit and the south end of the Southwark deposit. This is scheduled to commence in July 2018 with POWs recently approved. We are expecting the maiden resource for Bottle Creek to be completed and announced on schedule in August."

Significant gold intercepts from Alt's new drilling at the un-mined Emu deposit are listed in detail in Table 1 (see link below), and include:

o EMRC034: 13m @ 1.8 g/t Au from 35m

o EMRC035: 11m @ 4.5 g/t Au from 60m

o EMRC036: 12m @ 2.0 g/t Au from 20m

o EMRC037: 10m @ 1.8 g/t Au from 39m

o EMRC038: 5m @ 4.3 g/t Au from 88m

o EMRC072: 9m @ 1.2 g/t Au from 104m

o EMRC073: 2m @ 4.8 g/t Au from 87m

o EMRC074: 11m @ 11.7 g/t Au from 82m

-- including 6m @ 18.4 g/t Au from 82m

o EMRC075: 5m @ 1.2 g/t Au from 31m

-- and 7m @ 2.0 g/t Au from 100m

o EMRC076: 7m @ 1.6 g/t Au from 19m

o EMRC077: 13m @ 2.4 g/t Au from 39m

-- including 4m @ 6.7 g/t Au from 43m

o EMRC078: 15m @ 1.1 g/t Au from 94m

o EMRC079: 18m @ 3.8 g/t Au from 53m

-- including 3m @ 8.4 g/t Au from 53m

o EMRC081: 8m @ 2.2 g/t Au from 17m

o EMRC082: 18m @ 4.8 g/t Au from 58m

-- including 1m @ 31.8 g/t Au from 58m

-- and including 5m @ 5.8 g/t Au from 64m

o EMRC083: 24m @ 5.8 g/t Au from 56m

-- including 2m @ 27.5 g/t Au from 57m

o EMRC084: 4m @ 1.3 g/t Au from 53m

-- and 9m @ 3.4 g/t Au from 95m

o EMRC085: 10m @ 4.4 g/t Au from 39m

-- including 4m @ 7.8 g/t Au from 41m

-- and 7m @ 4.3 g/t Au from 65m

-- including 2m @ 11.7 g/t Au from 66m

o EMRC086: 9m @ 4.0 g/t Au from 37m

-- and 3m @ 3.0 g/t Au from 85m

o EMRC087: 11m @ 2.6 g/t Au from 94m

o EMRC090: 6m @ 1.2 g/t Au from 119m

o EMRC093: 17m @ 1.3 g/t Au from 1m

-- including 2m @ 7.1 g/t Au from 7m

o EMRC094: 11m @ 1.4 g/t Au from 5m

-- Including 2m @ 4.5 g/t Au from 12m

o EMRC095: 11m @ 1.5 g/t Au from 3m

Figure 2 and 3 (see link below) show cross-sections with new drilling and significant intercepts through the north end of the Emu deposit. These sections are located approximately 4 km north of the VB pit and 600m south of the Southwark deposit. The location of new drillholes discussed in this release is given in plan view in Figure 4 (see link below). The potential for continuity of mineralisation along strike towards the Southwark deposit is evident, given these results are encountered at the northern margin of established mineralisation at Emu. Further potential is evident at depth, where gold mineralisation has not yet been closed out by current drilling.

Boags, VB, Emu and Southwark are all situated on a NNW trending magnetic lineament as illustrated in Figure 1 (see link below). This lineament parallels a shear zone observed in the pit walls at both Boags and VB. Evidence for this shear zone has also been observed in both RC chips and diamond core at Emu and Southwark during Alt's recent drilling.

This shear appears to have formed along a NNW striking carbonaceous shale which likely acts as a rheological contrast to the surrounding mafic metavolcanics ("greenstones"). A porphyritic felsic unit occurs along this zone and appears to be the primary source for gold mineralisation at both Emu and Southwark. Gold intercepts are commonly but not always on the shale/felsic contact but largely hosted in the shale. Weathering and later stage remobilisation of gold away from this contact has added some complexity to the above.

Most recently Alt have completed a 1,100m diamond drillhole program. This program along with petrographic analysis of lithologic units will provide further understanding of the Bottle Creek geology.

Regional Setting and Exploration History

The Bottle Creek gold mine lies 100 km north east of Menzies in the Mt Ida gold belt (see Figure 5 in link below). The gold mine is located on the northern extremity of the Mt Ida-Ularring greenstone belt extending from Davyhurst to Mt Alexander (see Figure 5 in link below). The Ularring greenstone belt forms the western part of the Norseman-Wiluna Province of the Yilgarn Craton. The location of mineralisation and local geology, is shown in Figure 6 (see link below).

During historical operation from 1988-1989, 90,000 oz Au was produced from two open pits (Boags and VB; see Figure 7 in link below). Significant historical drilling along a 9.8 km strike outlined the Emu, Southwark and XXXX deposits. However these were never mined. The historical RC drill fences were spaced at 100m, with infill drill line spacing at 50m and 25m at various locations. The majority of drilling targeted oxide mineralisation and reached no deeper than 80m vertically below surface.

Alt's new drilling results continue to provide confirmation of historical intercepts, improve confidence in historical data, proves the continuity and grade of mineralisation in key parts of the Emu deposit. Further, gold mineralisation appears to continue at depth, with several drillholes ending in mineralisation. Additional drillholes are being planned at Emu and other areas of the Bottle Creek Project to test the continuity of gold mineralisation at depth. RC drilling for resource definition is ongoing.

Notes:

1 e.g. See ARS announcement, 27th March, 2018: http://www.abnnewswire.net/press/en/92549/

2 From drillhole EMRC074, 83-84m downhole

3 From drillhole EMRC083, from 56m downhole

To view tables and figures, please visit:
http://abnnewswire.net/lnk/W550U4UH


About Alt Resources Ltd

Alt Resources LtdAlt 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.

    


Contact

James Anderson
CEO Alt Resources Ltd
E: james.anderson@altresources.com.au

Peter Taylor
Investor Relations
E: peter@nwrcommunications.com.au
M: +61-412-036-231



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