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Alt Resources Ltd.
Summary
| Project: | Myalla | |
|---|---|---|
| Deposit: | Rock Lodge | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc-Bismuth | |
| Date: | 3/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-3-2018: Alt Resources Ltd. announces an Exploration/Drilling Update report for its Rock Lodge deposit at the Myalla project. Drilling results incl. 2m @ 2.7g/t Au, 11.8g/t Ag, 300g/t Bi, 0.48% Cu from 62m. Alt Resources (ASX: ARS, ‘Alt’ or the Company) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dr Helen Degeling (Internal) | |
| ABSTRACT: | Alt Resources (ASX: ARS, ‘Alt’ or the Company) is pleased to announce that assay results have been returned for the recent Reverse Circulation (RC) drilling program at the Rock Lodge Prospect, Myalla, in southern NSW (Figure 1). Individual assay results include up to 5.36 g/t Au, 55.6 g/t Ag, 0.12 % Bi, 0.81 % Cu, 1.56 % Pb and 1.46 % Zn across the project. Alt drilled 6 holes (MYRC001 to MYRC006) targeting mineralisation beneath historical workings and adjacent historical holes aiming to confirm significant intercepts1 from the 1980’s. Alt’s RC program represents the first modern exploration at the Rock Lodge Prospect in over 25 years. The system has been confirmed as polymetallic, with possible Intrusion-Related Gold System affinities given the presence of anomalous Bismuth in most holes (up to 0.12 % Bi in drillhole MYRC005). This is similar to Alt’s interpretation for the nearby Paupong mineralised system, which is a greenfield’s discovery by the Company with a footprint of approximately 8 x 4 km2 (Figure 1). Paupong is characterised by a surface expression of gold-silver-bismuth (± copper, lead and zinc) bearing quartz veins, which have a regional association with anomalously mineralised intrusives. Alt considers the results to be significant enough to expedite a deeper diamond drilling program to test IP and EM (induced polarisation and electro-magnetic) anomalies. These anomalies were identified in geophysical surveys undertaken in 2016-2017. Alt aims to undertake diamond drilling of these deeper targets late in 2018. | |
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