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- Alt Resources (ARS) has updated the gold and silver resources for its mineral resource estimate for the Mt Ida and Bottle Creek Gold projects in WA
- More than 52,000 ounces of gold and 600,000 ounces of silver has been added
- Data was taken from historical drilling completed between 1984 and 1989, and recent drilling at both projects
- Alt Resources is now advancing the Tim’s Find pit design and a mining proposal will be lodged with the Department of Mines, Industry Regulation and Safety in the upcoming weeks
- Once the proposal has been accepted, work at Tim’s Find is expected to begin in the next few months
- Alt Resources is up 14.3 per cent and shares are currently trading for 1.6 cents each
Alt Resources (ARS) has updated the gold and silver resources for its mineral resource estimate for the Mt Ida and Bottle Creek Gold projects.
The Mt Ida and Bottle Creek JORC 2012 resource now sits at 11.55 million tonnes at 1.54g/t for 571,300 ounces of gold and 6.66 million tonnes at 20.5g/t for 4.38 million ounces of silver.
This upgrade has added 52,300 ounces of gold and 600,000 ounces of silver to the projects.
These resource upgrades also provided a 14 per cent increase to the measured and indicated components to the resource estimate.
The increase to the measured and indicated resource now reads 6.2 million tonnes at 1.85g/t for 368,300 ounces of gold and 5.25 million tonnes at 18.5g/t for 3.11 million ounces of silver.
This updated mineral resource was completed by the principal resource geologist of Hyland Geological and Mining Consultants, Stephen Hyland.
Data was taken from historical drilling completed between 1984 and 1989, and recent drilling at gold deposits at both projects.
The Mt Ida and Bottle Creek Gold Projects are located 80 kilometres northwest of Menzies in the Mt Ida gold belt in Western Australia.
Bottle Creek is made up of two mining leases which are prospective for high-grade gold and silver.
Alt Resources is continuing to complete exploration drilling to keep expanding the project’s resource.
The company has been expanding the JORC resources across to the Mt Ida Gold Project in hopes to increase the mineral resource even further.
Very little drilling has been completed at Mt Ida and it is hoped that by joining up with Bottle Creek more exploration drilling can be done.
Alt Resources is now advancing the Tim’s Find pit design and mine plan. A mining proposal will be lodged with the Department of Mines, Industry Regulation and Safety in the upcoming weeks.
Once the proposal has been accepted the company expects works to begin at Tim’s Find in the next few months.
However, this is dependent on COVID-19 and any impacts it may or may not cause.
Alt Resources is up 14.3 per cent and shares are trading for 1.6 cents each at 12:47 pm AEDT.
