(MENAFN- ABN Newswire)
Alt Resources Ltd (ASX:ARS) is pleased to provide an exploration update and initial positive results from Tim's Find project area. Tim's Find is one of the areas currently being drilled by the Company in the Mt Ida
Gold Project RC
drilling program.
The Company has recently completed approximately 3000 metres of RC drilling at Tim's Find from approximately 72 RC holes drilled to date. Positive
gold results have now been received from the first 20 holes drilled Tim's Find with significant results from the first 20 holes displayed in Table 1 in link below.
102 RC drillholes have been drilled across the greater Mt Ida Project at the Tim's Find, Shepherds Bush and the Quinns mining areas. The Company will complete aproximately 5,200 metres of RC in this program once completed.
The current drill program has been designed to confirm both grade and continuity of the gold mineralisation at Tim's Find confirming the mining potential of the project area. The Company has undertaken additional drilling down strike to the south outside the current resource model area and will provide the results as they come to hand.
The Company expects to establish strike extensions from this current drilling program. Figures 2 and 3 in link below above show mineralisation on recent drill sections, which compare favourably with the mineralisation defined by previous drilling. Figure 4 shows recent hole collar positions and the location of the drill setions (figure 2 and 3) while figure 5 shows recent hole positions relative to historic drilling and the outline of the previously established resource area.
Recent drilling shows the Tim's Find mineralisation to be hosted by an ultramafic talc chlorite schist and the adjacent mafic schist within a ~N-S striking shear zone. A review of the historic drilling shows broadly spaced drill sections, to the north and south of the resource which have intersected the shear position with significant gold mineralisation.
While indicating potential to the north and ~500m to the south of the resource, this drilling is too broadly spaced to incorporate in to JORC (2012) Reported Resources. Alt has now completed an initial program of infill drilling in these areas (Figure 6) with assays pending.
Once drilling is completed at Tim's Find the rig is scheduled to move north to the Quinn's mining area (figure 6) with the RC drilling program designed to test the interpreted Forrest Belle and Boudie Rat ore shoot extensions.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/5JPLZX37
Alt Resources Limited( ASX:ARS ) is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders. The Company's portfolio of assets includes the newly acquired Bottle Creek gold mine located in the Mt Ida gold belt in South Central WA 95km north west of Menzies, the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, Myalla polymetallic Au-Cu-Zn project east of Dalgety in NSW and the Mt Roberts gold project located near the town of Leinster in WA.
Alt Resources, having acquired historical and under-explored tenements in the Mt Ida Gold Belt, aims to consolidate the historical resources, mines and new gold targets identified within the region. Potential at Mt Ida exists for a centralised production facility to service multiple mines and to grow the Mt Ida Gold Belt project to be a sustainable and profitable mining operation.
James AndersonCEO Alt Resources LtdE: ter NesvedaInvestor Relations & Corporate AffairsE: : +61-412-357-375
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