Transcription of Finance News Network Interview with Alt Resources Limited (ASX:ARS) CEO, James Anderson
Carolyn Herbert: Hello I’m Carolyn Herbert for the Finance News Network and joining me from soon-to-be listed copper and gold explorer, Alt Resources Limited (ASX:ARS) is its CEO, James Anderson. James, welcome back.
James Anderson: Hi Carolyn, it’s nice to be back, thanks for having me.
Carolyn Herbert: Could you start by giving us an update on how the projects are progressing?
James Anderson: The Paupong project is progressing pretty well, we’ve just finished our first pass drilling that completed in August this year. And we hit some fairly significant intercepts across a fairly large quartz sulphide vein system, gold, copper and silver. So yeah, we’re very happy with that outcome.
Carolyn Herbert: What potential do these projects have?
James Anderson: I think that our projects have a lot of potential going forward. This is a brand new system, it’s newly discovered in New South Wales, there hasn’t been one discovered for probably ten years. It’s fairly large, it’s extensive over about 6.5 square kilometres. So we’ve got a very big imprint there and it looks like it’s going to bear fruit.
Carolyn Herbert: You’re currently in the middle of undertaking a drilling program. What have the drill results revealed so far?
James Anderson: The drill program actually finished in August. So we’ll recommence drilling in probably end of November this year, but the first pass drilling was 2700 metres. We had fairly significant gold, copper and silver results, fairly shallow holes we drilled. I think the deepest hole was about 230 metres, so most of our holes intercepted mineralisation over a 1500 metre strike length. So we’re very happy with those results at this stage.
Carolyn Herbert: What are you planning in terms of exploration going forward?
James Anderson: I think after the listing, we’ve got to look at an immediate aeromag survey, a high-resolution aeromag survey. That particular survey will give us a very good look at the faults of the structure there. And it’ll give us some deeper targeting profiles that we’ll look for with our next drill campaign.
Carolyn Herbert: Now to your IPO James. How much have you raised so far and what are your expectations?
James Anderson: We’ve raised $1.9 million as of Friday, with a minimum capital raise of $1.75 million so we’re exceeding our minimums at the moment and it looks like we may get a little bit more as we progress over the next two weeks.
Carolyn Herbert: Finally James, what’s your focus for the next six to 12 months?
James Anderson: I think the focus Carolyn will be to continue developing the Paupong project and do an REF (Review of Environmental Factors) at our Myalla project, to get that exploration underway there with some drilling. But primarily, we want to just well define our drill targets and get some of our deeper holes started in the Paupong area. I mean this is an intrusive related system and we think it may be porphyry style. So we want to get a couple of deeper holes drilled into this system, to see what’s going on with the geology.
Carolyn Herbert: James Anderson, thanks for the update and good luck with the IPO.
James Anderson: Thanks Carolyn, thanks for having me.
