As announced on 16th January 2018 Alt Resources Limited (ASX:ARS) (Alt, or the Company) has entered into a binding Heads of Agreement (HOA) with Latitude Consolidated Limited (LCD) to purchase tenement assets. Alt is now pleased to announce completion of the first condition of the HOA, being the cash payment of $400,000 to LCD.

The landholding encompasses the historical Quinns and Mt Ida South mining centres, and contains existing JORC resources of 1.24 Mt @ 2.5 g/t Au, for 97,300 oz Au (see Note below). The exploration package fully encompasses the Bottle Creek mining leases, thus considerably expanding Alt's landholding in this area, and opening up significant exploration and development potential for the Company and shareholders.

Note: http://abnnewswire.net/lnk/X3T1G0H0


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.

    

Contact

Alt Resources Ltd
T: 1300-66-00-01
M: +61-406-069-243
E: info@altresources.com.au
www.altresources.com.au



Link: Completion of First Milestone LCD assets



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Alt Resources Ltd


Related Industry Topics:
Financial General Mining Gold