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Alt Resources Ltd.
Summary
| Project: | Bottle Creek | |
|---|---|---|
| Deposit: | Bottle Creek Tailings | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-8-2018: Alt Resources Ltd. announces an Exploration/Drilling Update report for its Bottle Creek Tailings deposit at the Bottle Creek project. Drilling results incl. 2.0m @ 1.28g/t Au, 6.0g/t Ag from 0m. Alt Resources Ltd (ASX: ARS, Alt or ‘the Company’ | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dr Helen Degeling (Internal) | |
| ABSTRACT: | Alt Resources Ltd (ASX: ARS, Alt or ‘the Company’) is pleased to announce the results from preliminary testing of the historical Bottle Creek Mine Tailings Dams, WA. 66 shallow Aircore holes were drilled for 323m. The maximum hole depth was 12m with hole spacing of 20m. Alt drilled north-south and east-west fences across each of the dams. Samples were assayed for gold and silver, with values up to 1.28 g/t Au and 18.4 g/t Ag received. Average grade for the tailings material based on limited testing thus far is 0.16 g/t Au and 6.1 g/t Ag. Bottle Creek was mined for gold by Norgold Ltd in 1988-1989. Two tailings dams endure from the previous operation, covering a combined area of 21.6 ha (Figure 1). Alt’s aim was to ascertain whether exploitable gold and silver remained within these tailings dams. Figure 1 shows the maximum Au (left) and Ag (right) in each aircore hole across the tailings material. Contained mineralisation is patchy, particularly for gold, whereas silver shows a much more uniform distribution of higher grade (Figure 1), giving an average of 6.1 g/t Ag across both tailings dams. A more comprehensive drill pattern is planned to cover the whole of each tailings area, to more effectively delineate a volume that can be incorporated in the overall Bottle Creek gold (+ silver) resource. Within the same program, planned drilling will also include testing of surficial gold-mineralised laterite1 and pre-existing low grade stockpiles which remain from the previous mining operation. Alt Resources CEO, James Anderson, stated; “Our objective with this program was to negate the cost of refurbishing the tailings dams. Given the right economics, in a future mining cycle we would strip the existing mineralised soil from the tailings dams, stockpile the soil for re-processing of the low grade gold and silver and refurbish the dams at the same time; it’s a recycling concept to cover costs associated with development of the processing plant moving forward. The Company is also progressing towards mine design and pit optimisation for Bottle Creek. Minecomp have been engaged as the consulting mining engineers for this work. We are reinforcing our strategy to bring these assets into production as quickly and as efficiently as possible and we will continue to fast track this project.” | |
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