Myalla Project

Prospects

The Myalla Prospect (EL 8164) lies 15 kilometres to the north east of Dalgety in NSW and is 30 kilometres from the Paupong Project covering 54 square kilometres.

Drilling in two holes by previous explorers intersected ~25m below surface a zone of a sulphide veining, massive sulphides and stinger zones; 3 contiguous samples together assayed 1.2 g/t Au over ~6m true thickness (12 m apparent thickness).

  1. SGDH8   12m @ 1.2g/t Au from 39m incl 2.7m @ 4.3g/t Au, 35g/t Ag and .73% Cu from 42m;
  2. SGDH 3   7.4m @ 1.10g/t Au from 9m in oxidised zone; and,
  3. SGDH 2   1m 13.5% Zn, 0.44% Pb, 0.17g/t Au and 6.6g/t Ag, from 74m

Grab sampling by previous explorers of the veins from outcrops has gold assays ranging from less than detection up to 11.1 g/t Au. Veins are also variably anomalous in arsenic, lead, zinc and barium. At Myalla, the strongly folded and weakly metamorphosed Ordovician Adaminaby group shales/siltstones and Gungoandra Siltstones have been mineralised by preferentially oriented epigenetic sulphide and quartz-sulphide veins (pyrite, arsenopyrite, chalcopyrite and galena, +/- gold). The more graphitic shales also exhibit syngenetic sulphide (pyrite, +/- chalcopyrite) mineralisation.

The Alt Resources Ltd intent at Myalla is to investigate the possibility of gold-base metal bearing massive sulphide mineralisation at depth, initially focused on the geophysical IP anomalies, one of which was incompletely tested by previous explorers.

Geophysics

Myalla Rock Lodge shows potential of gold-base metal bearing massive sulphide mineralisation at depth, initially focused on the geophysical IP anomalies, one of which was incompletely tested by previous explorers. The Company has completed a dipole-dipole IP survey over the know VMS intercept at the Rock Lodge prospect at the Myalla tenement with results shown below.

Myalla IP chargeability plan view at RL 880-the plan view is 100 metres from surface taken from the 3D model. The Company has planned drilling based on previous locations of drill holes, geochemistry and using the newly acquired dipole-dipole IP section to target the VMS intercept. IP section for planned drill holes at the Myalla Rock Lodge prospect- the section is cut through the line of drill holes represented in the plan view above. The depth penetration of the IP survey is 160 metres.

Planned Exploration

The proposed  Drilling Program will entail a 6 hole programme for a total of 1000m. Hole depths are between 50m and 200m, and will be drilled as RC initially and possible diamond-only holes after review of results. The holes will target massive sulphides identified from previous drilling data sets.

The Company interprets the exploration target at Rock Lodge to be a structurally hosted and controlled gold rich massive sulphide vein system, possibly related to the Buckleys Lake Monzogranite which outcrops about 5 km south west of the tenement area.
The initial exploration plan for the area is to re-drill the historic massive sulphide intercepts from DDH 2 and 9 with angled diamond drill holes to establish the true grades and widths of mineralization, followed by down-hole EM surveys to map the sulphide bodies and generate additional drill targets, with the initial program comprising approximately 400m of diamond drilling and follow up EM surveys.
Address
ALT Resources Limited

PO Box 787
Jindabyne NSW 2627
Phone: 1300 66 00 01
Fax: 02 6451 4611
Email: info@altresources.com.au