- First 750m of assays received from RC drilling at Bottle Creek returns multiple high-grade gold intercepts at Emu Deposit
- Grades up to 21.8 g/t Au intercepted
- Significant intercepts include:
o 20m @ 4.1 g/t Au, including 7m @ 7.8 g/t Au
o 23m @ 4.0 g/t Au
o 21m @ 3.1 g/t Au, including 9m @ 5.4 g/t Au
o 26m @ 2.3 g/t Au, including 7m @ 7.1 g/t Au
o 8m @ 4.7 g/t Au
o 7m @ 3.0 g/t Au
o 16m @ 2.8 g/t Au
o 9m @ 2.8 g/t Au
o 14m @ 1.4 g/t Au
o 13m @ 1.5 g/t Au
o 12m @ 1.1 g/t Au
- Results demonstrate continuity and width of gold grade at Bottle Creek
- 3,000m of 7,000m RC program completed, ahead of schedule and on budget
- Resource modelling to proceed concurrently as results received
Alt CEO James Anderson commented; "It is fantastic to get these results coming out of Bottle Creek after the many months of preparation. I think our shareholders will be impressed especially when all your initial drillholes from an RC program intercept gold grades and widths like this. Bottle Creek is a quality project and we are confident it will continue to provide similar results as we progress the drilling programs over the next few months".
This drilling represents the first modern exploration to be undertaken at the Bottle Creek Gold Project since 1988, and provides further confirmation of the historical data compiled and reviewed by the Company over the past 6 months.
Alt aims to provide a JORC compliant resource for the Bottle Creek Project on the completion of current drilling programs.
Strike Drilling have been onsite at Bottle Creek since the 12th March 2018, drilling continuously and are ahead of schedule (see Figure 1 in link below). Alt has a further 1,000m of assays pending from ALS Laboratories in Kalgoorlie, with an additional 1,000m of samples to be delivered this week.
Figure 2 (see link below) shows the location of new drillholes discussed in this release, with newly interpreted geology based on Alt's recent activities and drilling. Relevant sections are given in Figure 2 and 3 (see link below), showing the broad intercepts through the mineralised zone and a strong association between mineralisation and a distinctive black shale unit (also noted by historical explorers) within the host quartz porphyry.
Significant intercepts from Alt's drilling to date at the un-mined Emu deposit are listed in detail in Table 1 (see link below), and include:
o EMAC001: 20m @ 4.1 g/t Au from 40m
-- including 7m @ 7.8 g/t Au from 47m
o EMAC002: 14m @ 1.4 g/t Au from 19m
o EMRC003: 23m @ 4.0 g/t Au from 31m
-- including 1m @ 10.2 g/t Au, 55 g/t Ag from 71m
o EMRC004: 16m @ 2.9 g/t Au from 58m
o EMRC005: 12m @ 1.1 g/t Au from 5m
-- and 1m @ 5.2 g/t Au from 33m
o EMRC006: 7m @ 3.0 g/t Au from 28m
-- and 8m @ 4.7 g/t Au from 41m
o EMRC007: 21m @ 3.1 g/t Au from 43m
-- and 9m @ 5.4 g/t Au from 46m
o EMRC008: 13m @ 1.5 g/t Au from 17m
o EMRC009: 26m @ 2.3 g/t Au from 33m
-- including 7m @ 7.1 g/t Au from 45m
-- including 1m @ 21.8 g/t Au from 48m
o EMRC010: 9m @ 2.8 g/t Au from 69m
Regional Setting and Exploration History
The Bottle Creek gold mine lies 100 km north east of Menzies in the Mt Ida gold belt (see Figure 4 in link below). The gold mine is located on the northern extremity of the Mt Ida-Ularring greenstone belt extending from Davyhurst to Mt Alexander (see Figure 4 in link below). The Ularring greenstone belt forms the western part of the Norseman-Wiluna Province of the Yilgarn Craton. The location of mineralisation and local geology, is shown in Figure 5 (see link below).
During historical operation from 1988-1989, 90,000 oz Au was produced from two open pits (Boags and VB; see Figure 6 in link below). Significant historical drilling along a 9.8 km strike outlined the Emu, Southwark and XXXX deposits. However these were never mined. The historical RC drill fences were spaced at 100m, with infill drill line spacing at 50m and 25m at various locations. The majority of drilling targeted oxide mineralisation and reached no deeper than 80m vertically below surface.
Alt's new drilling provides confirmation of historical intercepts, improves confidence in historical data, proves the continuity and grade of mineralisation in key parts of the Emu deposit and will ultimately target untested extensions to known mineralisation.
1 From drillhole EMRC009, 48-49m
2 From drillhole EMRC003, 31-54m
To view tables and 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.
CEO Alt Resources Ltd
FINANCE VIDEO: ALT Resources Ltd (ASX:ARS) Bottle Creek Flyover and Interview with CEO James Anderson