Paupong Project

Prospects

The Company’s Paupong Project is a major new Intrusion-Related (IRG) system discovery in the south eastern Lachlan Orogen of NSW. The intercepts of high grade Au-Cu-Ag-Pb and Zn shown in drilling results provides continuing evidence for a large polymetallic IRG style mineralisation.

The Paupong prospects lies within a N-NE trending belt of Ordovician Adaminaby Group sediments. The area has been subject to numerous orogenic and magmatic events, with crustal scale fault systems locally telescoping the emplacement of numerous (up to 15) porphyritic Intrusions.

Mineralisation occurs in prospect areas covering 60 square kilometres of exploration ground including  Kidman, Toms Vein, Telegraph and Windy Hill, Dons Hill and the newly discovered Lone Ranger . The Company has undertaken drilling in 2015,  2016 and 2017 with high grade intercepts from deeper diamond drilling for Au, Cu, Ag, Pb and Zn up to;

2.90g/t Au, 3.9% Cu, 184g/t Ag, 4.09% Pb and 1.03% Zn 

The Company has defined a strong pipeline of substantial exploration targets which it will test commencing in November.  Exploration at the Paupong IRG system discovery has been strongly supported by the NSW Geological Survey, ANU university and the Federal Government through various grants, studies and research and development incentives.

Geophysics

The Company recently completed a 5,000 line kilometre high resolution aeromagnetic and radiometric survey across the Paupong Project area. Interpretation of the newly acquired detailed aeromagnetic survey data indicates the presence of a number of late stage stocks intruding to shallow depths. The interpreted stocks occur as a cluster, and appear to postdate and penetrate a larger intrusive body located at a depth of about 400m below surface.

The magnetic anomalies occur beneath zones of known quartz-sulphide and quartz stockwork veining, and associated breccia zones mapped at the Telegraph Hill prospect. This extends the Telegraph Hill zone by about 2km to the east where the expanded prospect is now renamed Windy Hill. The Company considers the younger stocks as a possible source of intrusion-related gold mineralisation at Paupong.

IP plans with mag and geoDipole Dipole IP (at right) and resistivity model (below) slices for Windy Hill at 800m RL (50-100m below surface), with mapped geology and location of the magnetic anomalies outlined in dashed white lines with M1-M5 labels. Note the strong correlation between M1 and M2 magnetic anomalies, and the very high chargeability doughnut surrounding the magnetic anomalies. The background image is aerial photography of the Windy Hill area. 3D model with mag IP and soils

3D image of the magnetic model at the left (green shell at 143 Si units) and IP model (red shells at 37 mv/V). The view in the top image is to the south-west, looking obliquely upwards towards the ground surface. The bottom image is looking directly down. These images clearly demonstrate the close relationship between the M1 and M2 magnetic anomalies and enveloping IP anomalism.

Recent IP survey at the newly discovered Lone Ranger prospect indicate a new structural corridor circled by magnetic intrusive bodies.

Results

recent deep diamond drilling at the Paupong project has confirmed the presence of a major IRG system of quartz-sulphide hydrothermal veins, and the primary vein geochemistry is consistent with an intrusive source for the mineralising fluids.

The large size of the vein system defined to date and its spatial association with multiple high level intrusions opens the possibility for discovery of economic intrusion related porphyry style gold, copper and silver mineralisation.

The 2015-17 drilling success demonstrates that mineralisation is open along strike and at depth, with significant exploration potential.

 

Planned Exploration

The Company is a recipient under the NSW Government New Frontiers Drilling Initiative in 2016 and has received the maximum $200,000 grant. Drilling will recommence at Paupong in January 2017 with DDH1 Drilling as the selected drilling contractor

Planned exploration in 2016-17 showing areas the drilling targets at Windy Hill prospects. The Company intends to vigorously pursue the Windy Hill targets. An amended drilling permission has been approved by the NSW Government to allow drilling in the Windy Hill area.

Ground geophysical dipole-dipole IP surveys along with airborne magnetics and soil geochemical analysis have been used to target the potential source of mineralisation at Paupong.

Address
ALT Resources Limited

PO Box 1054
Jindabyne NSW 2627
Phone: 1300 66 0001
Email: info@altresources.com.au