- Alt Resources successful in WA Exploration Incentive Scheme drill funding
- Successful grant application for $32,500 to cover 50% of direct drilling costs
- 3 x 400m diamond holes planned to test structural controls on gold mineralisation in the Mt Roberts area
The Company made application under the Scheme to implement diamond drilling at the Mt Roberts Gold Project located in the Agnew-Wiluna greenstone belt near Leinster. The grant of $32,500 is the full amount applied for by the Company and is designated as a contribution for up to 50% of direct drilling costs. The diamond drilling program at Mt Roberts is planned to commence in 2018.
The successful application was granted for 3 x 400m diamond holes at the Mt Roberts and Rum Punch prospects. The drill program aims to establish the first real understanding of structural and stratigraphic controls on gold mineralisation within the Leinster Anticline, which is a neighbouring structure to the well-endowed Lawlers Anticline to the south-west (see Figure 1 in link below).
The Mount Roberts area has been under-explored for gold, especially given the significant gold endowment of nearby areas (Agnew Gold Camp), with an historical focus on nickel. Limited geological information is available from historical drilling at Mt Roberts and therefore controls on mineralisation and a mineral deposit model have remained poorly constrained. Away from the main Mt Roberts workings, data is limited to historical soil sampling and a small reconnaissance RC program by WMC. No diamond drilling has been conducted whatsoever at the project. The drilling to be conducted by Alt under the EIS will represent the first structural and metallogenic analysis of the Mt Roberts Project.
In 2016 and 2017, Alt successfully intersected high grade gold mineralisation in RC drilling at Mt Roberts and Rum Punch (see Notes 1, 2 below). Highlights included:
- 3m @ 28 g/t Au, including 1m @ 67.4 g/t Au
- 1m @ 20.3 g/t Au
- 1m @ 24.4 g/t Au, and
- 4m @ 7.96 g/t Au, including 2m @ 13.75 g/t Au
- 1m @ 9.84 g/t Au
1 See ARS Announcement, 16th November, 2016: http://abnnewswire.net/lnk/KQJ6UJ73
2 See ARS Announcement, 6th November, 2017: http://abnnewswire.net/lnk/7Z87NPE7
To view figures, please visit:
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