Exploration Update Bottle Creek Mt Ida
The second phase of RC drilling conluded on 31st July. Alt drilled 45 RC holes for a total of ~2,400m, including 29 holes at the Emu deposit and 16 holes at the Cascade prospect (previously XXXX). Holes were designed to validate historical drilling, test mineralisation extensions south of Emu and infill existing drill fences between Emu and Southwark (see Figure 1 in link below).
All sampling from the second stage of the RC program has been delivered to the ALS laboratory in Kalgoorlie. Initial results from the first 800 metres are expected to be received over the coming weeks. All analyses should be completed within the next 4-5 weeks. ALS has reported a backlog of assay work due to the current high volume of drilling being undertaken in the West Australian goldfields.
Consistent with the Corporate Strategy to fast track the Bottle Creek Project, Alt will commence Metallurgical and Flowsheet Development to establish an operation capable of processing an initial ~500ktpa ore with potential to expand in the future. The Company has engaged METS Engineering to review all historical documentation from the Bottle Creek gold plant and cost the Metallurgical Testwork and Flowsheet development.
The Company has engaged Minecomp Kalgoorlie to commence the Mine Plan and Pit Optimisations for the pre-stripped Emu deposit and the Southwark deposit. On completion, the Mine Plan will be submitted to the Department to commence the approval process.
Alt has focused on realising the Company's vision of expanding existing Mt Ida JORC Resources and making new discoveries in the Mt Ida Gold Belt. Alt is moving towards its goal of establishing a central gold production hub at the Bottle Creek mine site.
The Company is planning to release the maiden JORC resource for the Bottle Creek project in August with a second resource upgrade to follow the maiden resource once Alt is in receipt of the second stage of RC drilling results and the resource modelling is completed.
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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