Alt Resources Limited (ASX listed 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
The Company has identified significant Intrusion Related Gold targets at the flagship Paupong Project in the south-east Lachlan Orogen NSW.
The Company is pleased to advise that it has taken an important step forward in the ongoing exploration of its flagship Paupong Project near Jindabyne in southern NSW. Alt has successfully defined a number of significant new intrusion-related gold targets in a newly identified area.
The targets have been outlined after reviewing and interpreting the results of recent extensive airborne and ground geophysical and geochemical surveys undertaken at the Paupong Project (Figure 1). These surveys were undertaken to advance the Company’s exploration targeting at Paupong, and the results have been extremely encouraging, as the new targets were not evident in regional government data. Combined with the results of aggressive IP and soil survey programs, the Company has now defined a strong pipeline of substantial exploration targets which it plans to test as a priority following the current diamond drilling program.
Alt CEO James Anderson said “We are now clearly seeing the benefits of undertaking large-scale survey work. The results of the past four months work are highly encouraging with cohesive results achieved over a large exploration area. The results indicate a potential near-surface intrusive source for the mineralization, which could be a game-changer for ongoing exploration of this project.”
Drilling at Paupong is ongoing with DDH 1 Drilling having been onsite since February 2016. Results will be announced to the market at the completion of the drill program.