Pre-Feasibility Study & Maiden Ore Reserves
Pre-Feasibility Study & Maiden Ore Reserves
Canberra, July 10, 2020 AEST (ABN Newswire) - Alt Resources Ltd (ASX:ARS) is pleased to announce the results of its Preliminary Feasibility Study (PFS) and Maiden Ore Reserve for the Mt Ida and Bottle Creek Gold Project which are located 80km north west of Menzies in the Mt Ida gold belt (Figure 1*). The PFS and Maiden Ore Reserve supports an initial seven year Run of Mine (ROM) with robust economics The Mt Ida and Bottle Creek Ore Reserve is estimated at 4.61 million tonnes at 1.8g/t Au and 15.8g/t Ag for 272,000 ounces gold and 2.1M ounces of silver from ten open pit designs which make up the Mt Ida and Bottle Creek Gold Project.

Alt CEO James Anderson commented: "The PFS and Maiden Ore Reserve confirms the Mt Ida Bottle Creek Gold Project as a promising undeveloped gold asset which is technically and financially sound. The work the Company has done over the past 3 years culminating in this PFS demonstrates the potential for this under explored Northern Goldfields region. The future development of a treatment plant will encourage other stranded assets located in the region to be further explored and developed. The Mt Ida Bottle Creek projects, close proximity to Kalgoorlie, the sunk capital as a legacy benefit from Norgold and the project being oxide open pits makes Mt Ida and Bottle Creek an attractive development proposition".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/06LTH6D0


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 in South Central WA 95km north west of Menzies, 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

Andrew Sparke
Executive Director
Email: andrew@altresources.com.au

Peter Nesveda
Investor Relations and Corporate Affairs
Mob: +61 (0) 412 357375
Email: peter@intuitiveaustralia.com.au



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