Alt Receives R&D Tax Incentive
Alt Receives R&D Tax Incentive
Canberra, Aug 31, 2017 AEST (ABN Newswire) - Alt Resources (ASX:ARS) is pleased to announce that it has received a $546,000 tax incentive payment from the Federal Government, for Research and Development activities at its flagship Paupong Project in southern New South Wales. The incentive was awarded for innovations and advancement of geological knowledge in this under-explored and poorly understood geological province. The funds will be used to further exploration in the Paupong area, as well as support exploration activities at the Company's Mt Roberts gold project in Western Australia.

Key Points

- The Company has received a $546,000 R&D tax incentive payment from the Federal Government

- Second stage of RC exploration drilling to commence at Mt Roberts

o Drilling to commence 13 September 2017

o ~2000m exploration RC drilling at Mt Roberts outlier prospects

The Company has approval from the WA Department of Mines and Petroleum for 7,000m of drilling at Mt Roberts. The current 2,000m program, commencing 13th September 2017, is designed to test regional greenfields targets on the Mt Roberts mining leases and expand the areas of known prospectivity. This will ensure the Company meets the requirement to earn 51% of the Mt Roberts project, as per the agreement with Mount Roberts Mining Pty Ltd (see Note 1 below). An additional 5,000m resource drilling program has been planned to commence early next year to define a maiden resource at the Mt Roberts workings.

The Company intersected high-grade gold at Mt Roberts up to 67.4 g/t Au in November 2016 (see Note 2 below). This included:

- MRRC0003: 3m @ 28 g/t Au, including 1m @ 67.4 g/t Au

- MRRC0008: 1m @ 20.3 g/t Au

- MRRC0009: 1m @ 24.4 g/t Au, and
4m @ 7.96 g/t Au, including 2m @ 13.75 g/t Au

Notes:

1 See ARS announcement, 30th August, 2016: http://abnnewswire.net/lnk/7868340D

2 See ARS announcement, 16th November, 2016: http://abnnewswire.net/lnk/KQJ6UJ73


About Alt Resources Ltd

Alt Resources LtdAlt Resources Limited (ASX:ARS) is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders. The Company's portfolio of assets includes the newly acquired Bottle Creek gold mine located in the Mt Ida gold belt, the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, Myalla polymetallic Au-Cu-Zn project east of Dalgety in NSW and the Mt Roberts gold project located near the town of Leinster in WA.

Alt Resources, having acquired historical and under-explored tenements in the Mt Ida Gold Belt, aims to consolidate the historical resources, mines and new gold targets identified within the region. Potential at Mt Ida exists for a centralised production facility to service multiple mines and to grow the Mt Ida Gold Belt project to be a sustainable and profitable mining operation.

    


Contact

Alt Resources Ltd
T: 1300-66-00-01
M: +61-406-069-243
E: info@altresources.com.au
www.altresources.com.au



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