ARS - Alt Resources Limited today closed up 17% to finish at 2.1c on $120k stock traded. There was no news in the market today but yesterday they announced a resource for Alt’s Mt Ida and Bottle Creek Gold Project Resource to 10.46Mt @ 1.54g/t Au, for 519,000oz or just 519k ounces of Gold including 5.6M tonne @ 21.1 g/t Ag for 3.78Moz Ag. So they got gold and they got grade from what I can see.....I do know the guys from ALT and I am hoping to catch up with Andrew and Jimmy (don't think he likes Jimmy) pretty soon and give you a far more detailed note on what these guys are up to.Some details on yesterday's news are listed below:
MT IDA AND BOTTLE CREEK RESOURCE UPGRADE ADDS 113,000oz Au BRINGS TOTAL RESOURCE TO 519,000 OUNCES Au AND 3.8M OUNCES
HIGHLIGHTS:
RC drilling at Mt Ida and Bottle Creek Project delivers 4th resource upgrade with 22% increase in global resource
Mt Ida and Bottle Creek Project 2012 JORC global resource estimate now stands at 10.5M tonne @ 1.54g/t Au, for 519,000oz Au and 5.6M tonne @ 21.1g/t Ag 3.78Moz Ag
Measured + Indicated resource for the Mt Ida and Bottle Creek Project now stands at 5.3M tonne @ 1.89g/t for 322,200oz Au and 4.4M tonne @ 21.1g/t for 2.7Moz Ag
The average project wide discovery cost per resource ounce Au now stands at $9.30
Resource upgrade includes additional 6,768 metres of new RC drilling defining extensions to the Tim’s Find, VB North and the new Shepherds Bush deposit Alt Resources Ltd is pleased to provide this update to the Mineral Resource estimate for the Mt Ida and Bottle Creek Gold Project. The Company recently completed Resource Estimations based on the drilling programs completed in Q3 and Q4 of 2019.The Company completed a total of 6,768 metres of RC drilling at Mt Ida South and Bottle Creek project areas confirming mineralisation extensions to the Tim’s Find, Shepherds Bush and VB North deposits. The drilling programs completed in Q3 and Q4 2019 adding an additional 113,000oz Au. Bringing the total for Alt’s Mt Ida and Bottle Creek Gold Project Resource to 10.46Mt @ 1.54g/t Au, for 519,000oz Au, including 5.6M tonne @ 21.1 g/t Ag for 3.78Moz Ag. The current Resource Upgrade further supports the Company’s project development strategy for the Mt Ida and Bottle Creek Gold Project. The project area has multiple additional exploration and mining targets identified within the Company’s landholding.The upgraded Resource Estimate incorporates results of 6768 metres new RC drilling undertaken at VB North, Tim’s Find and the Shepherds Bush deposits with all results announced to the market1. The Tim’s Find extension has expanded the Tim’s Find deposits north and south of the historical resource and remains open north and south, with drilling at VB North and Shepherds Bush delivering additional resource ounces with further drilling at Shepherds Bush scheduled to commence in Q1 2020.
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ARS Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
