Alt Resources unlocks base metal potential at Mt Ida gold project
In addition to gold, Alt Resources (ASX: ARS) has uncovered base metal sulphides at two primary deposits within its Mt Ida gold project in Western Australia, with Alt planning to follow up these discoveries with an airborne electromagnetic survey this month.
Further analysis of the previously reported thick intersection of 80m at 1.49 grams per tonne gold at Shepherds Bush has revealed 19m at 0.31g/t gold, 0.93g/t silver, 0.15% copper and 0.56% manganese from 119m.
The company noted there was an elevated copper zone at the top of the interval which returned 2m at 0.79g/t gold, 1.5g/t silver and 0.67% copper.
Meanwhile, a diamond core hole drilled at Bottle Creek last year unveiled 4.26m at 2.06g/t gold, 26.6g/t silver, 0.33% zinc, 0.15% lead and 0.14% manganese from 193m.
Commenting on the discovery, Alt chief executive officer James Anderson said the district around the wider Mt Ida project hosts several massive sulphide systems.
He pointed out a private company Cobre Pty Ltd had recently drilled into a volcanogenic massive sulphide (VMS) system at the neighbouring Perrinvale Station.
“The best assays from the Perrinvale project demonstrate the potential value of these VMS systems with 5m at 9.8% copper, 3.2g/t gold, 34g/t silver, and 3.1% zinc from 50m, including 3m at 12.6% copper, 4.7g/t gold, 43.7g/t silver and 3.6% zinc.”
“VMS deposits typically occur in regional camps and we are quite interested in these base metal results from Shepherds Bush and Bottle Creek.”
Mr Anderson said the upcoming helicopter time domain electromagnetic survey will be flown in conjunction with another company – providing a cost-effective method of firming up drill targets.
Additionally, to further understand the base metal potential at Shepherds Bush, Alt is resubmitting samples from previous reverse circulation drill holes at the deposit for further analysis.
Alt is also re-examining core from the Bottle Creek diamond hole.
Article from Smallcaps (August 19, 2019) – Lorna Nicholas