Director Appointment and Metallurgical Test Work Update
The Company would like to advise it has recently appointed Mr Andrew Sparke to the Board of Alt Resources Limited. Mr Sparke is Managing Director of Olive Capital Pty Ltd and former Chair of Torian Resources Limited. Mr Sparke takes up the role as Executive Director, Corporate and is a specialist advisor in corporate services for small and mid-capitalised ASX listed companies with a strong track record in building medium and longer-term share registers for emerging companies.
The Company recognises the need to add additional skill sets to the Board as it moves forward with development plans for the Mt Ida and Bottle Creek Gold Project's and the addition of Mr Sparke as Executive Director Corporate strengthens the Alt Board as the Company moves towards development stages of Bottle Creek.
In line with Alt's intention to fast track the Mt Ida and Bottle Creek Gold Project's resource definition the Company will re-commence its RC drilling programs at the Emu, Southwark, VB and Cascade deposits. Drilling is scheduled to start later in September 2018 with the Company drilling known historical ore shoots beneath the VB pit, infill drilling between the Emu and Southwark deposits and an extensive 150 hole shallow RC program covering the known mineralised laterite zones at Southwark and Emu.
Assays from the recently completed RC program undertaken at Emu and Cascade deposits are currently being received from ALS Laboratories and results will be announced to the market in the coming weeks with a resource upgrade expected to be announced once all results are modelled.
The Mt Ida Gold Project is rapidly evolving into a promising emerging development project with multiple exploration and mining targets. In combination with existing Mineral Resources within the Mt Ida Gold Project, at the Quinns and Mt Ida South Projects, Alt has undertaken extensive resource drilling at the Bottle Creek Gold Project recently announcing the maiden resource at Bottle Creek(see Note below).
Alt Resources is committed to advancing the Mt Ida and Bottle Creek Gold Project's towards development. A number of technical studies are currently underway to facilitate this goal, including mine planning and pit optimisation. The Company has recently completed a review of the historical Post Mine Assessment and Review of Metallurgical Operations completed by METS Engineering and will now commence new metallurgical test work and consider plant design and operational factors based on the METS review.
The METS Engineering review of the historical processing operations at Bottle Creek will be available for shareholders to review in coming weeks on the Company website.
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