Annual Report to shareholders
Mt Ida and Bottle Creek are located 85 kilometres to the north west of Menzies in the northern gold fields of WA. Alt commenced drilling in March 2018, drilling in excess of 20,000 metres of reverse circulation (RC) drilling enabling the Company to deliver the current JORC compliant resource at Bottle Creek is 5.6Mt @ 1.72g/t Au, for 309,000oz Au and 3.78Moz Ag.
When compiled with the existing Mt Ida Gold Projects resource inventory the combined Mt Ida and Bottle Creek Gold Projects resource stands at 6.8 Mt @ 1.85g/t Au for 406,000oz Au and 3.78Moz Ag. More importantly 78% of the Bottle Creek and Mt Ida Gold Projects resource now stands at 316,000oz Au and 2.7Moz Ag in the JORC categories of Measured + Indicated with the project wide discovery cost for the resources being less that $10.00 per resource ounce.
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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 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.
Alt Resources Ltd