Very impressive results and huge potential... despite the fact that it presentation was kept as low-key as possible... I hold several gold developers and some of them would "give an arm and a leg" to have such a hits in shallow and sparse drilling... some are drilling to min, depth of 200 m spending more than $33 Mln on exploration and others are spending min $170 M to build an infrastructure we already have ...to process the ore of 0.9 G/t...
I hope some serious backer will come on top of this initial offer and help us to uncover the huge potential existing here eg:
"The Mt Ida and Bottle Creek projects are rapidly developing into a promising gold project, with the Company holding dominant land positions across the Mt Ida Shear and the Ballard/Zulieka Shear in the northern goldfields with multiple deposits, exploration and mining targets contained within the various exploration, prospecting and mining leases held by the Company"
"The Company originally drilled 3 RC holes at Pianto’s Find in July 2019 with the results reported to the market on 26 August 20197 . Drill hole PFRC002 intersected 2m @ 1.5g/t Au and 14m @ 2.58g/t Au with a peak grade of 28.90g/t Au. Follow up exploration drilling at Pianto’s Find during the February – March 2020 RC drilling program has delivered further intersections including 4m @ 3.92g/t Au and 4m @ 1.92g/t Au from RC holes PFRC004 and PFRC005.
The area between the main Southwark deposit and the Cascade deposit and has seen minimal drilling and represents a significant opportunity to deliver further resource ounces at Bottle Creek.
Previous historical drilling in the Pianto’s Find area was limited to broadly spaced RAB and Aircore holes drilled at 50m holes x 400m gridline spacings, with an average depth of approximately 49m. Comparison with Bottle Creek indicates the past historical drilling at Pianto’s Find is not a complete test. Au and Ag mineralisation found in the Bottle Creek “Emu Formation” is consistently subvertical to slightly dipping west. The Pianto’s Find prospect remains of significant interest to the Company due to the similar magnetic response found at Bottle Creek, indicating potential for a parallel mineralised corridor. The drilling undertaken to date at Pianto’s continues to support this view, with the most recent exploration drilling providing further encouraging results. The Company will now undertake a comprehensive auger soil program using 20m holes X 50m gridlines prior to undertaking further RC drilling."
Alt Resources 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 greater Mt Ida and Bottle Creek Gold Projects located in the Mt Ida gold belt of Western Australia and the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW. Alt Resources, having acquired the Mt Ida and Bottle Creek Gold Projects with historical and under-explored tenements in the Mt Ida gold belt in the Northern Goldfields of WA, 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."
ARS Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
