Alt Resources’ Bottle Creek produces more shallow high-grade gold intersections
Alt Resources’ (ASX: ARS) Bottle Creek gold asset in Western Australia has continued to give up the goods, with drilling returning numerous shallow high-grade gold intersections.
Alt Resources has intercepted 7m at 3.83g/t gold from 32m, including 1m at 18.5g/t gold.
More than 1,700m of drilling was completed across the project’s Southwark, Pianto’s Find and Single Fin prospects, with all areas returning shallow intersections comprising high-grade gold intervals.
Better results were 7m at 3.83 grams per tonne gold from 32m, including 1m at 18.5g/t gold; 25m at 1.85g/t gold from 60m, including 1m at 11.30g/t gold and 1m at 9.21g/t gold; and 8m at 2.92g/t gold from 78m, including 1m at 16.75g/t gold.
The assays are from 23 drill holes undertaken during the February to March program which targeted several areas which had limited exploration to-date.
Of that nine holes for 758m were carried out at Southwark, five holes for 468m at Pianto’s Find, and nine holes for 476m were completed at Single Fin.
According to Alt, the rationale behind drilling these areas was to test areas that could potentially deliver further ounces in the future.
Mt Ida and Bottle Creek gold project
Southwark, Pianto’s Find and Single Fin make up the wider Mt Ida and Bottle Creek gold project, which underwent a resource update earlier this month.
Global resources at the wider project now total 11.55 million tonnes at 1.54g/t gold for 571,000 ounces gold and almost 4.38Moz silver.
Alt is looking to begin mining at the more advanced Tim’s Find deposit during the September quarter of this year.
The deposit already lies on an existing mining lease and has resources of 770,600t at 1.94g/t gold for 48,400oz. Within that are measured and indicated resources of 535,600t at 2.11g/t gold for 36,375oz.
As part of its strategy to fast-track Tim’s Find into mining and early cash flow, Alt lodged a stage one mining plan for the deposit earlier this week with the Western Australian Department of Mines Industry Regulation and Safety.
Additionally, Alt has completed mine optimisation, design, scheduling and economic evaluations for the stage one operation.
A maiden ore reserve and pre-feasibility study are due for delivery before the end of the current quarter.
Article by Lorna Nicholas for SmallCaps – 16 April 2020