Alt Resources Ltd: Exploration Continues to Deliver Shallow High-Grade Gold
- Bottle Creek RC exploration drilling program completed 15 March 2020
- 23 exploration RC holes for 1,702 metres of drilling completed across Southwark, Pianto's Find and Single Fin areas
- All areas return shallow intersections of high-grade gold
- Significant intersections include:
o 4m @ 3.92 g/t Au from 65 metres
o 7m @ 3.83 g/t Au from 32 metres, including 1m @ 18.5 g/t Au
o 14m @ 2.94 g/t Au from 62 metres, including 4m @ 5.45 g/t Au
o 8m @ 2.92 g/t Au from 78 metres, including 1m @ 16.75 g/t Au
o 5m @ 2.73 g/t Au from 30 metres
oo 25m @ 1.85 g/t Au from 60 metres, including 1m @ 11.30 g/t Au and 1m @ 9.21 g/t Au
o 6m @ 1.82 g/t Au from 56 metres, including 1m @ 8.81 g/t Au
o 14m @ 1.46 g/t Au from 53 metres, including 2m @ 4.91 g/t Au
All drill hole and significant results from the Bottle
Creek RC drilling program can be seen in Table 1*. The Company released drilling results from the March 2020 drill program from the Quinns Mining Area on 26 March 2020.
Alt completed a 1,702 metre RC drilling program on 15 March 2020 at the Bottle Creek Gold Project. During the February - March program the Company drilled several prospect areas which have had minimal exploration drilling undertaken by previous explorers, including 9 holes for 758 metres at Southwark, 5 holes for 468 metres at Pianto's Find, and 9 holes for 476 metres at the Single Fin prospect (Figure 2*).
The drilling undertaken at Bottle Creek during the February - March program was designed as exploration, not resource drilling, testing areas with potential to deliver further resource ounces. An overview of the Bottle Creek mining leases and the prospects drilled during the March 2020 RC program can be seen in Figure 3* showing the locations of the Southwark, Pianto's Find and Single Fin prospects with cross sections AA - DD also identified in Figure 3*.
The drilling undertaken at Southwark was designed to test the area between the main Southwark deposit and the Cascade deposit which lies one kilometre to the north of Southwark, where an interpreted strike/slip fault visible as a magnetic lineament (Figure 5*) has intersected the Emu Formation, possibly causing the Emu Formation to rotate. Past drilling by the Company across areas where cross cutting faults intercept the Emu Formation at Bottle Creek have delivered wider intersections of mineralisation.
All 9 RC holes drilled at Southwark during this RC program intersected anomalous Au grades and results from the various drill holes can be seen in Figure 4*. The area between the main Southwark deposit and the Cascade deposit has seen minimal drilling and represents a significant opportunity to deliver further resource ounces at Bottle Creek.
The location of cross sections AA-DD can be seen in plan view in Figure 3 and show significant gold intersections from Southwark, Pianto's Find and Single Fin prospects, the Southwark intersections can be seen as cross sections in Figures 5 and 6*. The RC drilling at Southwark in sections AA - BB suggests the Emu Formation has been rotated and the ore zone has a flatter orientation than the Emu deposit which is predominantly sub-vertical in orientation. The Au mineralisation seen in the laterite cap at the surface of Southwark appears consistent with the laterite mineralisation found at the main Southwark and Emu deposits.
The Company originally drilled 3 RC holes at Pianto's Find in July 2019 with the results reported to the market on 26 August 20192. Drill hole PFRC002 intersected 2m @ 1.5g/t Au and 14m @ 2.58g/t Au with a peak grade of 28.90g/t Au. Follow up exploration drilling at Pianto's Find during the February - March 2020 RC drilling program has delivered further intersections as seen in Figure 8*: Section DD, including 4m @ 3.92g/t Au and 4m @ 1.92g/t Au from RC holes PFRC004 and PFRC005.
Historical drilling at the Pianto's Find area consisted of broadly spaced RAB and Aircore holes, drilled on a 50m centers, with a 400m gridline spacing, to average approximated depth of 49m at. When the drill hole density at Pianto's find is compared to Bottle Creek it appears that Pianto's find has not been adequately tested by the historical drilling. Au and Ag mineralisation modelled in the Bottle Creek "Emu Formation" is consistently subvertical to steeply west dipping, the limited drilling to date at Pianto's Find also suggests a similar model to that seen at Bottle creek.
The Pianto's Find prospect remains of significant interest to the Company, it shares a similar magnetic response to that seen at Bottle Creek (NNW-SSE magnetic lineament) and it has the potential to be defined as a sub-parallel mineralised corridor. The drilling undertaken to date at Pianto's Find continues to support this view, with the most recent exploration drilling providing further encouraging results. The Company will now undertake a comprehensive auger soil program on a 20m X 50m grid. This auger program is expected to delineate significant soil anomalies that may warrant testing with future RC drilling programs.
*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