Alt Resources Ltd.: Bottle Creek Processing Hub Strategy
Canberr - The Board of Directors of Alt Resources Ltd. (ASX:ARS) ('Alt' or 'the Company') is pleased to provide shareholders with an overview of strategic planning for the future development of the Bottle Creek Project as a Mining Hub for the Mt Ida gold belt. The Bottle Creek Project is located 95 kilometres north-west of Menzies in South Central WA.As part of strategic planning for the development of the Bottle Creek Mining Hub Project, Alt has had an initial meeting with GR Engineering Services. GR Engineering is a leading engineering contractor specialising in providing process engineering design and construction solutions in mineral processing.
The Company is planning to fast track Bottle Creek to a Pre Feasibility Study (PFS) at the completion of the current resource drilling and validation of the historical Bottle Creek results. These activities will bring the project into JORC 2012 compliance. The current RC drilling underway at Bottle Creek is well ahead of schedule with significant results being announced to the market over the past 3 weeks.
Diamond coring is scheduled to commence early May 2018 with DDH1 Drilling confirmed to be onsite by 7 May. Initial coring will be undertaken across the Emu and Southwark mineralised zones, twinning key RC holes to undertake new metallurgical studies and completing geotechnical holes for pit design.
Alt is in an unusual position with regard to fast tracking to the PFS stage as we have in hand all the historical data from the entire previous exploration and operational mining cycle. This encompasses all the Post Mine Assessments, including but not limited to;
1. Pre-Feasibility Studies
2. Original Metallurgical Studies
3. Geotechnical Studies
4. Operational Reports
5. Comprehensive Final Feasibility Study
6. Post Mine Assessment Reports - including Operational Mining Reports:
- Plant Design
- Crusher and Ore Conveying
- Milling and Thickening
- CIP Circuit and In Situ Leaching
- Tailings and Disposal
- Carbon Strip Plant
- Gold Room and Laboratory
- Borefields
- Power Station
- Stores and Purchasing
- Engineering and Equipment
- Staff, Training and Administration
- Review of Design Procedures, Costs and Flow Sheet
- Feasibility Conclusions
We consider the existing historical records to be very important assets. They have the potential to provide significant cost savings to Alt as we move forward with the planning and development stages of the Bottle Creek Operation and surrounding areas.
The available data provides the Company a clear pathway to designing and costing the production facility for the Bottle Creek Mining Hub Project whilst also clearly identifying the historical and operational problems encountered by the previous miner.
Bottle Creek was discovered by Electrolytic Zinc Company of Australasia (EZ) in 1983, who passed management of the project to Norgold Limited (Norgold) in 1985. Norgold managed the project through to the mining cycle. Ore was treated onsite in a CIP Circuit, producing 93,000 oz Au over an 18-month period from 1988-1989 from two open pits; Boags and VB. The Emu and Southwark ore zones remain unmined and are the current focus of the Company's RC drilling programs, which will be completed by the end of April 2018.
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, 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 James.anderson@altresources.com.au Peter Taylor Investor Relations Peter@nwrcommunications.com.au T: 0412 036 231