The Mt Ida Gold Project encompasses the Mt Ida South and the Quinn’s Mining Centre projects. These projects lie on the Ballard Fault which is host to a near-continuous mineralised sequence, including the known JORC resources contained at the Matisse and Quinn Hills deposits in the north, and the Mount Ida South Project including the Spotted Dog, Tim’s Find and Shepherds Bush deposits in the south.
The Mt Ida South and Quinn’s Projects contain 97,000 ounces JORC 2012 compliant resource in satellite ore bodies. The contained resource comprises a total of 1.24 Mt grading at 2.5g/t Au with multiple historical prospects and workings along the mineralised trend which represent excellent shallow, walk-up drill targets.
Very little drilling has been conducted across the Mt Ida projects and the current resources remain under explored and open at depth. The Ballard Fault located in the Mt Ida gold belt is one of the more significant under-exploited gold belts of the northern goldfields.
The expansion of Alt’s portfolio through the acquisition of the Mt Ida Gold Project is in-line with the Company’s strategy to become a near term gold producer.
Consolidation of the Mt Ida tenements has provided a scale that warrants further development of these known resources. The northern Mt Ida gold belt has been held back from development because there is no processing plant in the area. Toll treatment is not an option due to haulage and the peripheral costs associated with ore haulage.
Alt considers the Bottle Creek Mine site to be the ideal location to establish a CIP plant to process the Bottle Creek and the surrounding Mt Ida satellite ore bodies.