Alt Resources Ltd: Shepherds Bush Intercepts Multiple Broad Gold Zones
Canberra, Australia - Alt Resources Ltd. (ASX:ARS) is pleased to provide the latest exploration results from the 18 RC holes drilled at the Shepherd's Bush prospect located at the Mt Ida South project during December 2019 with significant intercepts shown in Table 1*.The Company completed an 11-hole RC drilling program in July 2019 for a total of 1140 metres at the Shepherds Bush prospect, validating historical holes drilled by La Mancha Resources with results of the drill program announced to the market on 6th August 2019.
As a follow up to the July 2019 Shepherds Bush program Alt completed a further 18-hole RC, 1960 metre, RC drill program at the prospect in December 2019. This additional drilling infilled and extended, south, the previous drilling (Figure 2*). The significant results from both the July and December RC programs are shown in Table 1* with holes SBRC001 through SBRC011 having previously been reported in August 2019. The total number of metres drilled to date is 3,100. The location of all RC holes drilled at the Shepherds Bush prospect can be seen in Figure 2*. Figures 3-5* are cross sections showing the geology along with gold intercepts, the section locations are included below on Figure 2*.
Gold mineralization at Shepherds Bush appears structurally controlled striking north-east with a moderate dip to the south-east. Recent drilling has confirmed the majority of gold mineralisation at Shepherds Bush is associated with banded shale and chert beds with minor BIF. The shale and chert units in the oxide display multiphase veining and brecciation and variable amounts of carbonate and chlorite alteration with little sulphides contained in these units. Bands of massive to semi massive sulphides have been intercepted further downhole. Surface outcrop appears as an iron rich gossan and together with the chert forms the dominant topographic feature in the area. The zones of massive to semi massive sulphide mineralisation are dominantly pyrite, pyrrhotite with minor chalcopyrite and sphalerite and is hosted below at least two shale/chert horizons.
The results from the two RC programs indicate Shepherds Bush has the potential to develop as a bulk tonnage low-grade gold deposit. The Company will model the results and expects to deliver a maiden inferred resource for Shepherds Bush in Q1 2020 and will continue to expand the drilling programs in 2020.
Shepherds Bush is along strike to the south of Tim's Find deposit as seen in Figure 6*. The prospect area sits on the east side of a significant fold, likely the eastern limb of the regionally significant Kurrajong Anticline and current interpretation of the project scale geological mapping and existing magnetic survey data indicate complex faulting and folding sequences at Shepherds Bush (Figure 7*). The interpreted anticline axis, southwest of the Shepherd's Bush drill area is seen as a prospective target area, as shown on Figure 6*.
Mt Ida South - Regional Geology
The Mt Ida South Project area hosts the Tim's Find, Shepherds Bush and the Spotted Dog prospect areas and is located approximately 90 kilometres west of Leonora. The exploration target is gold mineralisation associated with subsidiary structures adjacent to the Ballard and Mt Ida Shears within the Kurrajong Anticline. The Mt Ida South Project is located within the Mt Ida Greenstone Belt on the Kurrajong anticline directly south of the Copperfield granite (Figure 8*).
Mineral Resource
In May 2019 Alt announced its updated gold and silver JORC 2012 estimates of the Mineral Resource at the Mt Ida Gold Project made by two independent geological consulting services. The Mineral Resource totals 6.8Mt at 1.9g/t gold for 406,000oz of contained gold and 3.78Moz of silver (5.57Mt at 21.1g/t silver).
Resource Upgrades
During the December quarter Alt completed additional resource drilling at the Tim's Find, VB North and Shepherds Bush project areas with all assayed results now received and the resource geologist is currently finalising the block models and the resource upgrades which will be delivered in Q1 2020 as planned.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/QTVY2E52
About Alt Resources Ltd:
Alt Resources Ltd. (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.
Source:
Alt Resources Ltd.
Contact:
James Anderson Chief Executive Officer Email: james.anderson@altresources.com.au Peter Nesveda Investor Relations & Corporate Affairs Mob: +61 (0) 412 357375 Email: peter@intuitiveaustralia.com.au
