- Profound mineralogical and geochemical alteration halo recognised in new drilling at Windy Hill
- Outer polymetallic zone of Zn+Ag+Cu+/-Pb, transitioning to Au+Cu+Ag+/-Zn+/-Pb, with internal core copper-bearing core; confirmed in soil sampling and drilling results
- Large, sulphide-rich intrusion-related breccia pipe identified;
o PDD018 intersected a 235m width of = 10% pyrite-mineralised breccia and diorite interpreted as late pyrite-rich hydrothermal venting of major intrusionrelated system
- EL8266 at the Paupong Project (Windy Hill) has been relinquished, and the same ground approved by the NSW Department of Resources and Energy for a new exploration licence
- The Programme of Works for the 200 RC hole resource and exploration drilling program at Mt Roberts has been approved by the Department of Mines and Petroleum, WA
New diamond drilling at Windy Hill has revealed a profound mineralogical and geochemical alteration halo associated with magnetic and IP targets (see Note below). These zones are interpreted as halos above a cluster of buried intrusions and represent the influx of substantial sulphide-bearing, albeit low-gold fluids into the country rock. A pyrite-mineralised diatreme breccia, interpreted as a venting structure associated with cooling and de-gassing of the intrusion, was intersected in recent drilling. This hole (PDD018) revealed a 235m downhole width of pyrite-rich breccia with pyrite-rich diorite matrix. This signifies that the overall system is sulphur-rich, and therefore has high potential to contain concentrations of precious metals such as gold, silver, copper, lead and zinc.
During the coming months, Alt plans to focus on resource and exploration drilling at the Mt Roberts project in WA. Ahead of planned drilling, a Programme of Works (POW) has been approved by the West Australian Department of Mines and Petroleum for a 200 RC hole drilling campaign.
See ARS Announcement, 24th May 2016: http://abnnewswire.net/lnk/6U77E4OI
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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.
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FINANCE VIDEO: ALT Resources Ltd (ASX:ARS) Bottle Creek Flyover and Interview with CEO James Anderson