Alt Resources Ltd.: Windy Hill Update
20.12.2016 | ABN Newswire
Canberra - Alt Resources Ltd. (ASX:ARS) is pleased to announce that the first diamond drillhole at Windy Hill has been completed to a depth of 401.5m. Windy Hill has been defined as a significant Intrusion-Related Gold (IRG) target through comprehensive geophysical, geochemical and geological investigation and represents the highest ranked targets at the Company's flagship Paupong Gold-Base Metals project in the southern Lachlan Orogen, NSW. (Figure 1 in link below). 7 diamond holes have been planned across the prospective Windy Hill area, for a minimum of 2,000m.Key Points:
- First diamond drillhole completed at Windy Hill ahead of schedule
- Second diamond hole commenced
- Core logging and sampling will be ongoing in January
- Assays expected in February 2017
- Drilling program supported by funding from the NSW Government Cooperative Drilling New Frontiers initiative
The Windy Hill program is supported by the maximum drill funding of $200,000 for Round 2 of the NSW Government's New Frontiers Co-operative Drilling Program. The grant will cover 75% of per metre drilling costs. The Paupong Project is the only project to receive the maximum amount of funding in both rounds of the NSW Cooperative Drilling program. Logging and sampling of the first hole, PDD015, are ongoing, with results expected by February, 2017.
Windy Hill Project
Windy Hill lies within Alt Resources' Paupong Project in the southern Lachlan Fold Belt, NSW. Prior to GFM Exploration's initial activities in the area from 2012, little or no mineral exploration had occurred beyond first pass stream sediment sampling in the 1970s. This historical sampling did not include gold analyses. Alt flew a 5,000line km aerial magnetic survey over the Paupong Project in January 2016, identifying possible buried intrusions, particularly beneath Windy Hill. These modelled intrusions have coincident soil geochemical anomalies (arsenic, lead and copper; pathfinder elements for IRG systems) and IP anomalies.
The Windy Hill anomalies are new targets that have not previously been drilled. As part of the New Frontiers funding award, Alt plans to test the geochemical, IP and deeper magnetic targets at Windy Hill.
To view figures, please visit:
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About Alt Resources Ltd:
Alt Resources Ltd. (ASX:ARS) is an Australian based mineral exploration company exploring the newly discovered Paupong IRG mineral system located in the south-east Lachlan Orogen in New South Wales. Alt retains a 70% interest in the Paupong and Myalla Projects with JV partner GFM Exploration Pty
Contact:
Alt Resources Ltd.
T: 1300-66-00-01
M: +61-406-069-243
E: info@altresources.com.au
www.altresources.com.au