Half Yearly Report
The principal activity of the Company during the half year was to continue exploration and advance the development to mine plans at the Mt Ida and Bottle Creek Gold projects located in Western Australia. The Company holds 100% of the Mt Ida gold project and an Option to Buy the Bottle Creek gold mine project. During the half year to December 2018 the Company has delivered new gold resource statements and JORC compliant resource upgrades and continued exploration and target generation on the Company's tenements. All results have been disclosed to shareholders and to the ASX.
The advancement of the mine plans at the and Mt Ida and Bottle Creek mining tenements is a significant change in the nature of the Company's activities with a shift in focus from exploration to planning for gold production. Development is progressing with the project moving into the pre-feasibility stage, with treatment plant preliminary plans being developed in conjunction with other scoping studies.
Additionally, the Company retains a 51% interest in the Mt Roberts gold project located in Leinster Western Australia under a joint venture with Mt Roberts Mining Pty Ltd and a 70% interest in the Paupong Intrusion Related Gold system with joint venture partner GFM Exploration Pty Ltd.
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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