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Alt Resources Ltd.
Summary
| Project: | Paupong | |
|---|---|---|
| Deposit: | Windy Hill | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc-Bismuth-Tellurium | |
| Date: | 6/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-6-2017: Alt Resources Ltd. announces an Exploration/Drilling Update report for its Windy Hill deposit at the Paupong project. Drilling results incl. 2.8m @ 65.57g/t Ag, 1.39% Pb, 0.43% Zn from 242.0m. Continuing research and exploration activities by A | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dr Helen Degeling (Internal) | |
| ABSTRACT: | Continuing research and exploration activities by Alt Resources Ltd (ASX:ARS; “Alt” or “the Company”) at the Paupong Project near Jindabyne in southern NSW, support the existence of a cluster of intrusion-related mineralisation systems across a large, 4+ km area within the Company’s tenure. Furthermore, ongoing research has enabled a whole system view to be developed for the entire Paupong Project for the first time. As a result, exploration vectoring and targeting can be further refined, with a new generation of targets to be tested. New diamond drilling at Windy Hill has revealed a profound mineralogical and geochemical alteration halo associated with magnetic and IP targets1 . These zones are interpreted as halos above a cluster of buried intrusions and represent the influx of substantial sulphide-bearing, albeit low-gold fluids into the country rock. A pyrite-mineralised diatreme breccia, interpreted as a venting structure associated with cooling and de-gassing of the intrusion, was intersected in recent drilling. This hole (PDD018) revealed a 235m downhole width of pyrite-rich breccia with pyrite-rich diorite matrix. This signifies that the overall system is sulphur-rich, and therefore has high potential to contain concentrations of precious metals such as gold, silver, copper, lead and zinc. In order to understand the new data and drilling results, the Company has undertaken a whole-system, multidisciplinary analysis, incorporating geophysics, geochemistry, geology, petrology as well as spectral and isotopic analysis. This research is ongoing and will be described in detail on completion. Testing of the intrusion-related exploration targets at Paupong has been supported by two rounds of the NSW Government New Frontiers Cooperative Drilling Funding Program. Drilling at Windy Hill, co-funded by the second round of the grant program (up to 75% of direct drilling costs) was completed in March 2017. In further support of the innovative exploration approach taken by the Company at the Paupong Project, Alt received approval from AusIndustry for a Research and Development Tax Rebate of AUD$512,400. | |
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