(MENAFN- ABN Newswire) Canberra, Dec 11, 2017 AEST (ABN Newswire) - Alt Resources () (Alt, or the Company) is pleased to advise that it is been granted AUD$32,500 by the West Australian Government Exploration Incentive Scheme for 2018.
Highlights
- Alt Resources successful in WA Exploration Incentive Scheme drill funding
- Successful grant application for $32,500 to cover 50% of direct drilling costs
- 3 x 400m diamond holes planned to test structural controls on gold mineralisation in the Mt Roberts area
The Company made application under the Scheme to implement diamond drilling at the Mt Roberts Gold Project located in the Agnew-Wiluna greenstone belt near Leinster. The grant of $32,500 is the full amount applied for by the Company and is designated as a contribution for up to 50% of direct drilling costs. The diamond drilling program at Mt Roberts is planned to commence in 2018.
The successful application was granted for 3 x 400m diamond holes at the Mt Roberts and Rum Punch prospects. The drill program aims to establish the first real understanding of structural and stratigraphic controls on gold mineralisation within the Leinster Anticline, which is a neighbouring structure to the well-endowed Lawlers Anticline to the south-west (see Figure 1 in link below).
The Mount Roberts area has been under-explored for gold, especially given the significant gold endowment of nearby areas (Agnew Gold Camp), with an historical focus on nickel. Limited geological information is available from historical drilling at Mt Roberts and therefore controls on mineralisation and a mineral deposit model have remained poorly constrained. Away from the main Mt Roberts workings, data is limited to historical soil sampling and a small reconnaissance RC program by WMC. No diamond drilling has been conducted whatsoever at the project. The drilling to be conducted by Alt under the EIS will represent the first structural and metallogenic analysis of the Mt Roberts Project.
In 2016 and 2017, Alt successfully intersected high grade gold mineralisation in RC drilling at Mt Roberts and Rum Punch (see Notes 1, 2 below). Highlights included:
- 3m @ 28 g/t Au, including 1m @ 67.4 g/t Au
- 1m @ 20.3 g/t Au
- 1m @ 24.4 g/t Au, and
- 4m @ 7.96 g/t Au, including 2m @ 13.75 g/t Au
- 1m @ 9.84 g/t Au
Notes:
1 See ARS Announcement, 16th November, 2016:
2 See ARS Announcement, 6th November, 2017:
To view figures, please visit:
About Alt Resources Ltd
() is an Australian based mineral exploration company. The Company portfolio of assets include the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, the Myalla polymetallic Au-Cu-Zn deposit, the Mt Roberts gold project and the newly acquired Mt Ida South gold project incorporating the Bottle Creek gold mine.
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