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Alt Resources hits bonanza-grade gold of up to 34.2 g/t at Mt Ida Gold Project in WA

Once drilling is completed at Tim’s Find the rig is scheduled to move north to the Quinn’s mining area with drilling designed to test the interpreted Forrest Belle and Boudie Rat ore shoot extensions.
Drilling at Tim's Find
Drilling at the Tim's Find project area of Mt Ida

Alt Resources Ltd (ASX:ARS) has received bonanza-grade gold results from recent reverse circulation (RC) drilling at the Tim’s Find area within the Mt Ida Gold Project in Western Australia.

Results have been received from 3,000 metres of the first 20 holes within a 72-hole program designed to confirm grade and continuity of the gold mineralisation at Tim’s Find.

Notable results include:

9 metres at 7 g/t gold, including 2 metres at 21.5 g/t from 14 metres;
5 metres at 12.6 g/t, including 2 metres at 28.5 g/t from 26 metres;
5 metres at 8.1 g/t, including 1 metre at 23.6 g/t from 12 metres;
5 metres at 5.6 g/t, including 2 metres at 11.5 g/t from 44 metres; and
4 metres at 17.8 g/t, including 2 metres 34.2 g/t from 5 metres.

Shares up 40%

Shares surged by as much as 40% to an intra-day high of 2.1 cents.

A total of 102 RC holes have been drilled across the great Mt Ida Project at Tim’s Find, Shepherds Bush and the Quinns mining areas.

The company has also undertaken additional drilling down strike to the south outside the current resource model area and will provide results as they come to hand.

Alt Resources expects to establish strike extensions from the drilling program.

Drilling shows the Tim’s Find mineralisation is hosted by ultramafic talc chlorite schist and the adjacent mafic schist with a north to south striking shear zone.

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Alt Resources Ltd Timeline

January 15 2018

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