Alt Resources Ltd.: Drilling Commences at Bottle Creek Gold Project, WA Camp Construction Completed on Budget
Canberra - Alt Resources Ltd. (ASX:ARS) ('Alt' or 'the Company') is very pleased to advise that installation and construction of the Bottle Creek Gold Project camp has been executed in 14 days. Completion of the camp construction now enables Alt to proceed with the accelerated development of the Project. The establishment of the camp in this remote location now provides the Company with capacity to accommodate staff and drillers onsite for the extended drilling programmes.HIGHLIGHTS:
- Camp construction and installation of all facilities at the Bottle Creek Gold Project completed on budget in 14 days
- 10,000m drilling programme commenced on schedule Monday 12th March
- First assays to be delivered to ALS laboratories in Kalgoorlie with initial results anticipated end March 2018
Alt CEO James Anderson commented, "It has been an outstanding effort by the Alt staff putting this camp together in such a short time frame. Bottle Creek is quite a remote location to manage an extended drill programme and the camp now gives us the capacity to run operations not only for Bottle Creek but for the newly acquired Mt Ida and Quinns projects. We consider Bottle Creek to be an emerging development project and the camp is now a key asset for the Company as it moves into the next stage of resource drilling."
Alt executed a binding Option to Purchase Agreement for the Bottle Creek Gold Mine on 3rd November, 2017 (see Note below). Drilling is scheduled to commence imminently to validate historical drilling results and progressively bring the Bottle Creek resource into current JORC compliance. The Company will undertake a minimum of 8,000m of reverse circulation (RC) drilling, with a focus on the un-mined Emu, Southwark and XXXX deposits, located north of the VB and Boags pits (see figures 1 and 2 in link below). Exploration drilling will also include extensions to high grade shoots below the mined pits with the view towards future resource development.
The Strike Drilling team has commenced at the first drill holes on the Emu ore body, with first assays expected to be delivered to the Kalgoorlie assay laboratories by 18th March. The initial stage of the 10,000 metre RC drill programme planned at Bottle Creek is already ahead of schedule and camp construction has been delivered on budget.
Note: See ARS announcement, 8th November, 2017: http://abnnewswire.net/lnk/QCE95126
To view figures, please visit:
http://abnnewswire.net/lnk/RSN32M4T
About Alt Resources Ltd:
Alt Resources Ltd. (ASX:ARS) operates in the secure jurisdictions of Western Australia and New South Wales, focusing on gold and base metals. The Company's objectives are to continue aggressive exploration activities to develop the existing projects and define new JORC compliant mineral resources. Key focus for the Company is the Mt Ida Gold Belt region which includes several high value drill and project targets.
The Company also owns a 70% interest in the Paupong and Myalla gold and base metal projects in the Lachlan Orogen, NSW. An aggressive exploration program was undertaken throughout 2016 at the Paupong intrusion-related Au-Cu-Ag system, over an area of 60 square kilometres.
The Board considers the portfolio of assets to represent excellent potential for the discovery of economic gold and copper deposits. Exploration by the Company is ongoing with drilling programs planned and underway at Bottle Creek, Paupong, Myalla and the Mt Roberts project.
Contact:
James Anderson CEO
Alt Resources Ltd.
E: james.anderson@altresources.com.au
Peter Taylor Investor Relations
E: peter@nwrcommunications.com.au
M: +61-412-036-231