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Alt Resources Ltd.
Summary
| Project: | Bottle Creek | |
|---|---|---|
| Deposit: | Emu, Southwark | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 16-8-2018: Alt Resources Ltd. announces a Resource Estimation report for its Emu, Southwark deposit at the Bottle Creek project. Initial mineral resource at Emu and Southwark. Alt Resources Ltd (ASX: ARS, Alt or ‘the Company’) is pleased to advise a maide | |
| Resources: | (Resource, I+I): 1.645Mt @ 2.07g/t Au , 1.55Mt @ 13.03g/t Ag at Emu and Southwark | |
| CP/QP: | [Resources]: Stephen Godfrey (Jorvik Resources Pty Ltd.) | |
| ABSTRACT: | Alt Resources Ltd (ASX: ARS, Alt or ‘the Company’) is pleased to advise a maiden JORC compliant Mineral Resource estimate for the Emu and Southwark deposits, at Alt’s Bottle Creek Gold Project of 1.65Mt @ 2.1 g/t Au, for 109,500 oz gold (Table 1), including 1.55Mt @ 13.0 g/t Ag for 0.65 Moz silver. This constitutes the first modern resource for the Bottle Creek Project, and the first resource estimate undertaken by Alt Resources within its larger Mt Ida Gold Project. The Mt Ida Gold Project is rapidly evolving into a promising gold hub, with multiple exploration and mining targets throughout the vicinity. In combination with existing Mineral Resources within the Mt Ida Gold Project, at the Quinns and Mt Ida South projects, Alt’s combined Mineral Resource Inventory now stands at 2.8 Mt @ 2.25 g/t Au, for 206,800 oz Au1 . See Appendix 1 for a summary of the existing Mt Ida Project resources. The Emu and Southwark Mineral Resources are based in an area measuring 9.96 ha, with a strike length of 1.4 km (Figure 1). There is significant growth potential outside of these zones based on known gold mineralised extensions to the north, south and at depth. Further potential exists between the Emu and Southwark deposits, which are 500m apart along strike. The Maiden Emu and Southwark Mineral Resource delivers approximately 12,000 oz Au per 100m of ground along the defined mineralised trend. Of this trend, only 900m of strike length has been covered thus far, therefore significant exploration potential remains. The resource includes 11,692 m of Alt’s new drilling as well as 11,887 m of historical drilling. 65 % of the resource estimate is in the higher confidence Indicated category (70,000 oz Au), with the remainder classified as Inferred. The cut-off grade for the Mineral Resource calculation was 0.5 g/t Au. | |
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