Canberra, Australia -
Alt Resources Ltd. (ASX:ARS) ('the Company') is pleased to report that ongoing collation and review of historical data over the Mt Ida Project has confirmed consistent wide gold intercepts at the Shepherds Bush Prospect shown in Figure 1 in link below.
HIGHLIGHTS:
- Technical review of La Mancha Resources historical drilling has revealed historic wide gold intercepts at Shepherds Bush prospect Mt Ida South
- Same mineralized structure as Tim's Find and Spotted Dog deposits1
- Shepherds Bush lies 2 kilometres south of Spotted Dog on the Ballard fault
- Significant historic RAB and RC intercepts from Shepherds Bush prospect include:
o 12m @ 1.65 g/t Au from 72m
o 20m @ 1.37 g/t Au from 28m
o 12m @ 0.99 g/t Au from 52m
o 32m @ 0.91 g/t Au from 48m
o 32m @ 0.82 g/t Au from 72m
o 16m @ 0.79 g/t Au from 60m
o 16m @ 0.78 g/t Au from 28m
The Shepherds Bush prospect was identified as a gold in soil anomaly by La Mancha Resources in 2006 and is located 2km south of Alts' Spotted Dog South Resources. Shepherds Bush occurs at the intersection of the regional scale north-south orientated Ballard Shear and an oblique north-east cross cutting structure as illustrated in Figure 1. The gold in soil anomaly appears to be controlled by the north east orientated structure which indicates there is potential to undertake follow up drilling along strike expanding the mineralised footprint.
The geochemical anomaly was drilled by La Mancha Resources in 2006 with an initial eight-hole AC and RAB program and was then followed by a 7 hole RC program. Drilling was completed on two 200 metre spaced lines with no follow up drilling undertaken, despite reasonably significant assayed gold results generated by the RC drilling program.
RC drilling results suggests a potential broad zone of low-level supergene anomalism associated with hematite alteration and silicification. The RC logging indicates weathering penetrates to ~80 metres below surface. The gold mineralisation intersected by this drilling suggests gold bearing fluids may have been introduced into the sulphide-rich host horizon, along the intersection with the NE-SW striking fault shown on Figure 2.
The location of Shepherds Bush prospect is favourable, being 2km south of the Company's Spotted Dog South and Tim's Find existing gold resources (Figure1), which are within 10km of the Bottle Creek resources2. Alt has lodged a Program of Work (POW) to expand exploration drilling at Shepherds Bush, with RC drilling and, when approvals are received from the DMIRS, is scheduled to commence later in 2019.
Along with desktop review of historical datasets Alt has been carrying out field reconnaissance over the entire Mt Ida Project, which will help prioritize work going forward in 2019.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/93GQFA37
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, 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.
Source:
Alt Resources Ltd.
Contact:
James Anderson CEO Alt Resources Ltd. E: james.anderson@altresources.com.au Peter Nesveda Australian and International Investor Relations E: peter@intuitiveaustralia.com.au M: +61-412-357-375
