- 8,000m RC resource drilling planned for the Emu Deposit, Bottle Creek
- Plan of Works application submitted to the WA Govt
- Program scheduled to commence in March 2018
- Program to undertake approximately 91 resource drillholes
- Validation of historical drillholes to be undertaken
- Resource modelling will commence on completion of the resource drilling program
The Company will undertake a minimum of 8,000m of reverse circulation (RC) drilling at the previously un-mined Emu deposit to validate historical intercepts, increase confidence in historical data and expand the known zones of mineralisation immediately along strike. Grades up to 34.2 g/t Au were reported from historical drilling (see Note 1 below), alongside broad, consistent intercepts such as 38m @ 3.6 g/t Au. Reported intercepts are shallow, hosted within an ~80m deep lateritic zone.
Drilling is scheduled to commence in March 2018, and will be phased to progressively bring the Bottle Creek resource into JORC compliance, beginning with the Emu deposit. The second phase of activity will include close-spaced resource drilling at the Southwark deposit (POW currently in preparation), 3km north of the VB pit (see Figure 2 in link below).
Alt entered into a legally binding Option to Purchase Agreement in November 2017 to acquire 100% of the Bottle Creek Gold Mine (see Note 2 below).
1 See ARS Announcement, 22nd November, 2017; http://abnnewswire.net/lnk/D5NQHG4E
2 See ARS Announcement, 8th November, 2017; http://abnnewswire.net/lnk/QCE95126
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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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