High-Grade Gold Intercepts at Boags South
High-Grade Gold Intercepts at Boags South
Canberra, May 7, 2019 AEST (ABN Newswire) - Alt Resources Ltd (ASX:ARS) (Alt or 'the Company') is pleased to provide details of the recent review of historical drilling data at the Bottle Creek Gold Project. Broad high-grade intercepts at the un-mined southern end of the Bottle Creek Gold Project, south of the Boags pit, indicate continued potential to expand the growing Bottle Creek gold resource. Grades up to 28.2 g/t Au are reported from historical drilling, alongside broad, consistently graded intercepts such as 14m @ 2.81 g/t Au. Reported intercepts are shallow and hosted within an ~80m deep oxide zone; similar to that of the Emu and Southwark deposits and consistent with Bottle Creek mineralisation.

HIGHLIGHTS:

- The area lies along strike of the Boags open pit at the southern end of the Bottle Creek mining leases

- Significant historical intercepts include;

o 7m @ 9.03g/t Au, including 2m @ 28.2g/t from 58 metres

o 6m @ 8.75g/t Au from 32 metres

o 14m @ 2.81g/t Au from 20 metres

o 9m @ 2.66g/t Au from 25 metres

o 5m @ 2.35g/t Au from 38 metres

o 10m @ 1.87g/t Au from 36 metres

- The historical drilling falls outside the current Resource and extends mineralisation by 1,200 metres

- Drilling planned to validate and infill historic drilling is scheduled to commence in Q3, 2019

- Boags South is one of a number of priority targets with potential to grow the Mt Ida resource

The Bottle Creek gold mine included production of 93,000oz Au from the VB and Boags pits between 1988 and 1989. Historical exploration drilling undertaken by EZ and Norgold resulted in the delineation of historical resources at the Emu, VB and Boags deposits with the Company undertaking sporadic step out drilling immediately to the south of the Boags open pit. Drilling was to a nominal depth of around 80m, and targeted oxide mineralisation with drill fences ranging between 100 to 200 metre spacing shown in Figure 1(see link below).

The historical intercepts contained in this report are listed in Table 2(see link below). The significant intercepts described in this release are representative, and do not include all of the significant intercepts included in historical data from Boags South. In this release, the Company is illustrating to shareholders the gold grades present at Boags South and their continuity between the widely spaced drill sections. The Company has validated the historical work by EZ and Norgold and consider it to be of generally high standard and reliability.

Mt Ida and Bottle Creek Resource

The total Resource for Alt's Bottle Creek Gold Project currently stands at 5.5Mt @ 1.72g/t Au, for 309,000oz Au (see Table 1 in link below), including 5.5Mt @ 21.1 g/t Ag for 3.78Moz Ag. Alt's combined mineral resource Inventory now stands at 6.8Mt @ 1.85 g/t for 406,000oz Au and 3.78Moz Ag consisting of the Bottle Creek Project combined with the existing resources on the Mt Ida Project, which includes Quinn's and Mt Ida South Projects.(see Note below)

The VB and Boags pits resource currently stands at ~130,000oz Au and 2.5Moz Ag with an additional 93,000oz Au mined from the two pits during the 1987-88 mining cycle with the Emu and Southwark deposits containing 179,000oz Au as seen in Figure 4(see link below).

The Company considers Boags South represents ~1200 metres of mineralised strike where drilling to expand on positive historic results will have the potential to add significantly to the projects resource base. This drilling is scheduled to commence in Q3 2019. Additionally the Company has selected the parallel magnetic lineament located to the east of the Bottle Creek magnetic lineament and running north from Piantos Find (see Figure 4 in link below) as a future drilling target. There has been minimal shallow RAB drilling undertaken testing this magnetic lineament.

Regional Setting and Exploration History

The Mt Ida and Bottle Creek gold projects lie 100 km north east of Menzies in the Mt Ida gold belt (see Figure 5 in link below). The gold project is located on the northern extremity of the Mt Ida-Ularring greenstone belt extending from Davyhurst to Mt Alexander. 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 6(see link below). Locally, gold and silver mineralisation is hosted in carbonaceous, sulphidic shales, within a larger package of interbedded basaltic volcanics, sediments and ultramafic rocks. The area is tightly folded and metamorphosed, with intrusion of younger dolerite dykes (Robertson, 2003). Mineralisation at Bottle Creek occurs over a strike length of 11km, running north-west-south east and is interpreted to be nearly vertical, to steeply west-dipping.

Bottle Creek was discovered by Electrolytic Zinc Company of Australasia (EZ) in 1983, who passed management of the project to EZ subsidiary Norgold Limited (Norgold) in 1985. Norgold managed the project through to production. Ore was treated onsite in a CIP Circuit, producing 93,000 oz Au over an 18-month period from 1988-1989 from two open pits. Significant drilling was undertaken by EZ and later by Norgold along a 9.8 km strike length from 1984 to 1989. RC drill fences at 100m spacing were carried out, with infill drill line spacing at 50m and 25m at various locations. The majority of drilling targeted oxide mineralisation, to 80m vertical below surface.

Mineralisation at Bottle Creek is strongly weathered, with a regolith profile to a depth of ~85m. Gold mineralisation is enriched through supergene processes in the oxide zone, and this oxide ore was the target of previous miners.

Note:
http://www.abnnewswire.net/press/en/96566/

To view tables and figures, please visit:
http://abnnewswire.net/lnk/9892R290


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 in South Central WA 95km north west of Menzies, 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 Nesveda
Investor Relations & Corporate Affairs
E: peter@intuitiveaustralia.com.au
M: +61-412-357-375



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