Alt Resources Ltd.: Quarterly Activities Report 31 March 2017
28.04.2017 | ABN Newswire
Canberra - Alt Resources Ltd. (ASX:ARS) is pleased to provide the Company's latest Quarterly Activities Report for the period ending 31 March 2017.Key Points:
- A 1,583 m, 4 hole diamond drilling program at Paupong, NSW has been completed at the Windy Hill prospect, as part of the NSW Government New Frontiers Drilling Initiative
o Assay results have been returned for the first two holes, with no significant results
o Sampling and assaying of the remaining holes is ongoing
- PDD018 intersected a 235m width of 10% + pyrite-mineralised breccia and diorite
o Preliminary rush sampling of this hole revealed no significant base or precious metals
- Dipole-dipole IP survey completed at Lone Ranger, identified coincident chargeable and resistive anomalies which may represent quartz vein-hosted sulphides
- A Programme of Works has been submitted to the Department of Mines and Petroleum, WA for approval of a 200 RC hole resource and exploration drilling program at Mt Roberts-Cottee
o RC drilling is scheduled to take place in June 2017.
OVERVIEW
Base and precious metals explorer Alt Resources Ltd. (ASX:ARS) ("Alt or the Company") has focussed on drilling activities at its New South Wales Paupong Project during the Quarter (Figure 3, see link below). A 1,583 m diamond drilling program was completed at the Windy Hill prospect, Paupong. This program tested magnetic, IP, geochemical and geological targets. Logging of the holes has identified significant zones of sulphide mineralisation including a 235m downhole intercept of 10%+ pyrite mineralised diatreme breccia and diorite (Figures 1 and 2, see link below). Preliminary assays have returned no significant base or precious metals, however sampling and assaying is ongoing and the Company is committed to taking a whole-of-system approach to understanding the metallogeny of the Paupong area.
During the coming winter months, Alt plans to focus on resource and exploration drilling at the Mt Roberts-Cottee project in WA. To facilitate this, a Programme of Works (POW) has been submitted to the West Australian Department of Mines and Petroleum for approval of 200 RC holes. Drilling is scheduled to take place in June 2017.
The Company also received a $512,000 tax incentive payment from the Federal Government, for Research and Development activities at its flagship Paupong Project in southern New South Wales. The incentive was awarded for innovations and advancement of geological knowledge in this under-explored and poorly understood geological province. The funds will be used to further exploration in the Paupong area, as well as support exploration activities at the Company's Mt Roberts gold project in Western Australia.
To view the full Quarterly Report, please visit:
http://abnnewswire.net/lnk/S11FKXGV
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 Ltd.
Contact:
Alt Resources Ltd.
T: 1300-66-00-01 M: +61-406-069-243
E: info@altresources.com.au
www.altresources.com.au