Alt Resources Ltd: Mt Ida - Quinns Mining Area Returns Shallow High-Grade Gold
- RC Drilling Program completed at Mt Ida and Bottle Creek gold project
- 48 RC holes for 3,726 metres of drilling completed across multiple targets
- Quinn's Mining Area returns shallow intersections of high-grade gold from 13 RC holes for 550 metres of drilling
- Significant intersections include:
o 6m @ 11.06g/t Au from 36 metres, including 1m @ 39.9g/t Au
o 26m @ 4.63g/t Au from 28 metres, including 3m @ 9.11g/t Au and 1m @ 13.10g/t Au
o 6m @ 4.50g/t Au from 22 metres, including 1m @ 13.4g/t Au
o 5m @ 3.61g/t Au from 12 metres, including 1m @ 9.44g/t Au
o 10m @ 3.47g/t Au from 17 metres, including 1m@ 17.39g/t Au
o 8m @ 2.96g/t Au from 29 metres, including 1m @ 8.64g/t Au
Alt has completed a 3,726 metre RC drilling program which commenced Friday 21st February 2020 at the Mt Ida and Bottle Creek Gold Project. The Company completed the drilling program in 18 days with Company staff and Challenge Drilling delivering a consistent 207 metres of RC drilling per day.
The Company drilled several deposits and prospects during the recently completed RC program including 550 metres of RC at the Belvidere and Boudie prospects at the Quinn's Mining Area, 1702 metres of RC at the Bottle Creek project including the Southwark, Piantos Find, and Single Fin deposits plus an additional 1474 metres of RC drilling having been completed at the Shepherds Bush deposit (Figure 2*).
Quinn's Mining Area comprises the Boudie Rat and Forrest Belle shallow open pits with additional historical prospects Boudie West, Boudie Beach and Belvidere. Numerous workings exist along the Quinns mineralised trend with recent drilling results indicating the mineralised shears extend south along strike from the Boudie Rat open pit. Limited modern drilling has been conducted at the Quinns project area. Prospects drilled during this RC program can be seen in Figure 3* with cross sections AA - CC showing gold intersections can be seen in Figures 4-6*.
MT IDA AND BOTTLE CREEK RESOURCE ESTIMATE
The Mt Ida and Bottle Creek Gold Project now has a JORC 2012 global resource estimate of 10.5M tonne @ 1.54g/t Au, for 519,000oz Au and 5.6M tonne @ 21.1g/t Ag 3.78Moz Ag with a Measured and Indicated resource estimate of 5.3M tonne @ 1.89g/t for 322,200oz Au and 4.4M tonne @ 21.1g/t for 2.7Moz Ag. The Mt Ida and Bottle Creek resource estimate is shown in Table 2* and the location of the various Mt Ida and Bottle Creek gold project resource estimates can be seen in Figure 7*.
The final assays from the RC drilling program have been received this week and the Company expects to deliver the results for drill programs from Bottle Creek and Shepherds Bush areas over the coming weeks.
*To view tables and figures, please visit:
About Alt Resources Ltd:
Alt Resources Ltd. (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.
Andrew Sparke Executive Director Email: email@example.com Peter Nesveda Investor Relations & Corporate Affairs Mob: +61 (0) 412 357375 Email: firstname.lastname@example.org