Additional High Grade Results Emu Deposit
Additional High Grade Results Emu Deposit
Canberra, April 11, 2018 AEST (ABN Newswire) - Alt Resources Ltd (ASX:ARS) (Alt or 'the Company') has received a further 900m of assay results from RC drilling at the Emu Deposit, Bottle Creek, WA. Gold assays have been received from drillholes EMRC021 to EMRC033 with results up to 53.0 and 50.4 g/t Au (see Note 1 below). Significant results are listed in detail in Table 1 (see link below). These zone of high gold grades occur within and alongside broad, consistently graded zones such as 27m @ 5.6 g/t Au (see Note 2 below). These broad zones are a positive feature for potential future mining operations, ensuring a minimal 'nugget' effect and a more easily extracted bulk target.

HIGHLIGHTS:

- Latest assays received from RC drilling at Bottle Creek return more outstanding high-grade gold intercepts at Emu Deposit

- Grades up to 53.0 g/t Au intercepted

- Significant intercepts include:

o 6m @ 19.3 g/t Au, including 2m @ 51.7 g/t Au

o 7m @ 9.9 g/t Au (EOH), including 1m @ 23.8 g/t Au

o 11m @ 8.2 g/t Au, including 4m @ 12.6 g/t Au

o 27m @ 5.6 g/t Au, including 3m @ 10.5 g/t Au and 1m @ 15.2 g/t Au

o 15m @ 5.6 g/t Au, including 1m @ 17.6 g/t Au

o 19m @ 5.0 g/t Au, including 4m @ 11.8 g/t Au

o 24m @ 4.0 g/t Au, including 2m @ 16.2 g/t Au

o 19m @ 3.0 g/t Au

o 9m @ 2.9 g/t Au, including 1m @ 10.9 g/t Au

o 13m @ 1.7 g/t Au

- Drilling continues at Emu with rig commencing at South Emu

- Additional holes to be drilled at Emu testing deeper ore shoots

- Multiple holes have ended in mineralisation with additional intercepts near surface

- Drilling has also been completed at the Southwark deposit with assays pending over coming weeks

RC drilling is planned to continue to the end of April 2018. Further results will be released to the market as they come to hand. Since drilling commenced at Bottle Creek on the 12th March, over 8,000m of RC drilling has been undertaken, including recent completion of the planned drill program at the un-mined Southwark deposit. Assays are pending for the Southwark deposit, which lies 1,000m along strike to the north of Emu (see Figure 6 in link below for site layout). Resource drilling for Emu is ongoing, with the rig having moved back to the southern end of the deposit. To date, Alt has delivered 7,200m of samples to the ALS laboratory in Kalgoorlie. Assay results will continue to be reported over the coming months.

DDH1 Drilling will be onsite by the 7th May 2018 to commence the initial phase of diamond drilling across Emu and Southwark. The aim of this program will be to collect metallurgical samples and conduct initial geotechnical studies for resource development.

Alt CEO James Anderson said; "These are outstanding results coming from the drilling at Emu with all holes intercepting gold. The results continue to support the Board's faith that the Bottle Creek Project and Mt Ida in general will move irrevocably from abandoned gold mine to a revitalised area for gold exploration. Bottle Creek is an ideal location to establish a production hub in the Mt Ida Belt, and we intend to fast track the project accordingly. The initial phases of RC drilling is well on the way to completion and ahead of schedule, and we expect to deliver the first stage of a JORC resource by mid-year. This will move us one step closer to development."

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:

- EMRC021: 3m @ 1.5 g/t Au from 57m
o and 4m @ 1.11 g/t Au from 64m

- EMRC022: 1m @ 1.7 g/t Au from 1m
o and 5m @ 5.2 g/t Au from 19m

- EMRC023: 24m @ 4.0 g/t Au from 22m
o including 2m @ 16.2 g/t Au from 42m

- EMRC024: 4m @ 1.8 g/t Au from 33m
o and 2m @ 1.3 g/t Au from 63m
o and 6m @ 19.3 g/t Au from 73m
o including 2m @ 51.7 g/t Au from 73m

- EMRC025: 27m @ 5.6 g/t Au from 34m
o including 3m @ 10.5 g/t Au from 35m
o including 1m @ 15.2 g/t Au from 40m

- EMRC026: 19m @ 3.0 g/t Au from 38m

- EMRC027: 4m @ 8.5 g/t Au from 39m
o and 7m @ 9.9 g/t Au from 49m to EOH
o including 1m @ 23.8 g/t Au from 52m

- EMRC028: 3m @ 2.5 g/t Au from 52m
o and 13m @ 1.7 g/t Au from 104m

- EMRC029: 1m @ 2.3 g/t Au from 42m
o and 11m @ 8.2 g/t Au from 46m
o including 4m @ 12.6 g/t Au from 49m

- EMRC030: 9m @ 2.9 g/t Au from 12m
o including 1m @ 10.9 g/t Au from 16m
o and 1m @ 1.8 g/t Au from 24m
o and 1m @ 1.8 g/t Au from 30m
o and 1m @ 1.0 g/t Au from 50m

- EMRC031: 4m @ 2.9 g/t Au from 18m
o and 1m @ 5.7 g/t Au from 25m

- EMRC032: 1m @ 1.0 g/t Au from 31m
o and 19m @ 5.0 g/t Au from 59m
o including 4m @ 11.8 g/t Au from 63m

- EMRC033: 15m @ 5.6 g/t Au from 76m
o Including 1m @ 17.6 g/t Au from 76m

Figure 1 - 2 (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 and the possibility for continuity of mineralisation at depth in some cases (see Figure 2 in link below). High grade cores are evident within broader moderate grade intersections, such as 6m @ 19.31 g/t Au including 2m @ 51.70 g/t Au in drillhole EMRC024, section D-D' (see Figure 2 in link below).

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.

Notes:

1 From drillhole EMRC024, 73-74m and 74-75m, respectively

2 From drillhole EMRC025, 34-61m

To view tables and figures, please visit:
http://abnnewswire.net/lnk/3HL5M9J7


About Alt Resources Ltd

Alt Resources LtdAlt 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

James Anderson
CEO Alt Resources Ltd
E: james.anderson@altresources.com.au

Peter Taylor
Investor Relations
E: peter@nwrcommunications.com.au
M: +61-412-036-231



Related Companies

Alt Resources Ltd

ABN Newswire This Page Viewed:  (Last 7 Days: 49) (Last 30 Days: 196) (Since Published: 2184) 
ANALYTICS: LOGIN HERE

Alt Resources Ltd NEWS: RECENT VISITS (17149)