- A second round of assays received from RC drilling at Bottle Creek has returned additional high-grade gold intercepts at Emu Deposit
- Grades up to 23.4 g/t Au intercepted
- Significant intercepts include:
o 22m @ 6.3 g/t Au, including 5m @ 10.6 g/t Au and 1m @ 23.4 g/t Au
o 29m @ 4.0 g/t Au, including 5m @ 7.2 g/t Au
o 35m @ 1.3 g/t Au, including 4m @ 4.3 g/t Au
o 5m @ 5.1 g/t Au
o 7m @ 2.4 g/t Au
o 8m @ 2.4 g/t Au
o 7m @ 2.0 g/t Au
o 7m @ 1.8 g/t Au
- Several holes ended in mineralisation, indicating possible further depth extensions
- Shallow mineralisation present close to surface, from 7m depth
- Results continue to support consistency and width of gold grade
- Multi-element assays reveal silver and lead mineralisation up to 29 g/t Ag and 0.57 % Pb in drillhole EMAC001
- Drilling is ahead of schedule, with 5,000m of the RC program completed
Gold mineralisation is present close to surface, with most results commencing above 50m depth. Furthermore, several drillholes ended in gold mineralisation (e.g. EMRC015, 016 and 020; see Figure 1 and 2 in link below), therefore the true width of these intercepts has not been determined. This demonstrates that gold mineralisation may have greater depth extent than previously thought, with possible repetitions of mineralised zones at depth. Alt is currently planning a series of deeper drillholes to test these concepts.
In addition to the new results reported here, a further 3,000m of samples have been delivered to the ALS laboratory in Kalgoorlie for assay, with results expected in the coming weeks.
Alt CEO James Anderson said; "Our results from drilling at Emu continue to demonstrate the widths and grades of gold mineralisation that we want to see in moving Bottle Creek towards resource definition and modernisation of the Project in general. This is a fantastic project, with tremendous scope for development of a processing hub at Bottle Creek. The Mt Ida Shear and associated structures form part of a very under-explored area that we see as an emerging gold district. Historical exploration of outlying prospects has been fragmented, with little time or effort spent in understanding the structure and controls on gold mineralisation in the area."
Significant gold intercepts from Alt's new drilling at the un-mined Emu deposit are listed in detail in Table 1 (see link below), and include:
o EMRC010: 1m @ 1.2 g/t Au from 85m
o EMRC011: 7m @ 2.4 g/t Au from 14m
o EMRC012: 2m @ 1.2 g/t Au from 28m
-- and 8m @ 2.4 g/t Au from 34m
-- and 1m @ 1.3 g/t Au from 59m to EOH
o EMRC013: 2m @ 1.1 g/t Au from 43m
-- and 22m @ 6.3 g/t Au from 52m
-- including 5m @ 10.6 g/t Au from 60m
o EMRC014: 2m @ 1.3 g/t Au from 38m
o EMRC015: 3m @ 1.3 g/t Au from 105m to EOH
o EMRC016: 35m @ 1.3 g/t Au from 107m to EOH
-- including 4m @ 4.3 g/t Au from 109m
o EMRC017: 1m @ 1.7 g/t Au from 7m
-- and 7m @ 2.0 g/t Au from 10m
o EMRC018: 5m @ 5.1 g/t Au from 23m
-- and 1m @ 1.3 g/t Au from 43m
o EMRC019: 29m @ 4.0 g/t Au from 39m
-- including 5m @ 7.2 g/t Au from 60m
o EMRC020: 1m @ 1.6 g/t Au from 34m
-- and 7m @ 1.8 g/t Au from 57m
-- and 1m @ 2.2 g/t Au from 101m to EOH
Figure 1 - 3 (see link below) show cross-sections with new drilling and significant intercepts through the Emu Deposit. The location of new drillholes discussed in this release is given in plan view in Figure 3 (see link below). The cross-sections show the broad intercepts through the mineralised zone. Strong continuity is evident, particularly in sections A-A' and E-E'.
Two previous drillholes (EMAC001 and EMRC004, described in Alt's announcement of the 27th March, 2018) (see Note 4 below), were re-analysed for additional metals and other elements. These assays revealed anomalous silver and lead mineralisation associated with gold-rich zones. Significant results are listed in Table 2 (see link below) and include:
o EMAC001: 44m @ 3.2 g/t Ag from 32m
-- including 11m @ 5.8 g/t Ag from 50m
-- and 5m @ 0.3 % Pb from 55m
-- including 1m @ 0.6 % Pb from 56m
o EMRC004: 44m @ 5.3 g/t Ag from 37m
-- including 14m @ 0.2 % Pb from 39m
-- and 6m @ 0.3 % Pb from 66m
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 results continue to provide confirmation of historical intercepts, improve confidence in historical data, proves the continuity and grade of mineralisation in key parts of the Emu deposit. Further, gold mineralisation appears to continue at depth, with several drillholes ending in mineralisation. Additional drillholes are being planned at Emu and other areas of the Bottle Creek Project to test the continuity of gold mineralisation at depth. RC drilling for resource definition is ongoing.
1 From drillhole EMRC013, 68-69m
2 From drillhole EMAC001, 81-82m and 56-57m, respectively
3 From drillhole EMRC016, 107-142m
4 See ARS announcement, 27th March, 2018: http://abnnewswire.net/lnk/7YK222BC
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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.
CEO Alt Resources Ltd
FINANCE VIDEO: ALT Resources Ltd (ASX:ARS) Bottle Creek Flyover and Interview with CEO James Anderson