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Alt Resources Ltd(ASX:ARS)Tax Incentive Payment and Mt Roberts Drill Plan  Join our daily free Newsletter

MENAFN - ABN Newswire - 20/04/2017
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(MENAFN - ABN Newswire) Canberra, April 20, 2017 AEST (ABN Newswire) - Alt Resources (ASX:ARS) is pleased to announce that it has received a 512,000 tax incentive payment from the Federal Government, for Research and Development activities at its flagship Paupong Project in southern New South Wales. The incentive was awarded for innovations and advancement of geological knowledge in this under-explored and poorly understood geological province. The funds will be used to further exploration in the Paupong area, as well as support exploration activities at the Company's Mt Roberts gold project in Western Australia.

Key Points

- The Company has received a 512,000 R&D tax incentive payment from the Federal Government

- Drill planning for Mt Roberts is progressing

o A Programme of Works (POW) has been lodged ahead of planned drilling

A 7,000m resource drilling program has been planned over the Mt Roberts Workings, where the Company intersected high grade gold up to 67.4 g/t Au in Novemer 2016. This included:


- MRRC0003: 3m @ 28 g/t Au, including 1m @ 67.4 g/t Au
- MRRC0008: 1m @ 20.3 g/t Au
- MRRC0009: 1m @ 24.4 g/t Au, and
4m @ 7.96 g/t Au, including 2m @ 13.75 g/t Au

An additional 3,000m of exploration drilling has been planned to test satellite targets at the Mt Roberts Project, including the Rum Punch prospect and Kathleen and Screen Workings. A Programme of Works (POW) has been lodged with the Department of Mines and Petroleum, WA, to gain approval for this activity. The drill program is planned to commence in June 2017.


About Alt Resources Ltd

Alt Resources Limited (ASX:ARS) is an Australian based mineral exploration company exploring the newly discovered Paupong IRG mineral system located in the south-east Lachlan Orogen in New South Wales. Alt retains a 70% interest in the Paupong and Myalla Projects with JV partner GFM Exploration Pty Ltd.


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