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Alt Resources update on Shepherds Bush prospect at Mt Ida project

Mining News - Published on Fri, 15 Feb 2019

Image Source: ABN Newswire
Alt Resources Ltd reported that ongoing collation and review of historical data over the Mt Ida Project has confirmed consistent wide gold intercepts at the Shepherds Bush Prospect

HIGHLIGHTS:

- Technical review of La Mancha Resources historical drilling has revealed historic wide gold intercepts at Shepherds Bush prospect Mt Ida South

- Same mineralized structure as Tim's Find and Spotted Dog deposits1

- Shepherds Bush lies 2 kilometres south of Spotted Dog on the Ballard fault

- Significant historic RAB and RC intercepts from Shepherds Bush prospect include:
o 12m @ 1.65 g/t Au from 72m
o 20m @ 1.37 g/t Au from 28m
o 12m @ 0.99 g/t Au from 52m
o 32m @ 0.91 g/t Au from 48m
o 32m @ 0.82 g/t Au from 72m
o 16m @ 0.79 g/t Au from 60m
o 16m @ 0.78 g/t Au from 28m

The Shepherds Bush prospect was identified as a gold in soil anomaly by La Mancha Resources in 2006 and is located 2km south of Alts' Spotted Dog South Resources. Shepherds Bush occurs at the intersection of the regional scale north-south orientated Ballard Shear and an oblique north-east cross cutting structure as illustrated in Figure 1. The gold in soil anomaly appears to be controlled by the north east orientated structure which indicates there is potential to undertake follow up drilling along strike expanding the mineralised footprint.

The geochemical anomaly was drilled by La Mancha Resources in 2006 with an initial eight-hole AC and RAB program and was then followed by a 7 hole RC program. Drilling was completed on two 200 metre spaced lines with no follow up drilling undertaken, despite reasonably significant assayed gold results generated by the RC drilling program.

RC drilling results suggests a potential broad zone of low-level supergene anomalism associated with hematite alteration and silicification. The RC logging indicates weathering penetrates to ~80 metres below surface. The gold mineralisation intersected by this drilling suggests gold bearing fluids may have been introduced into the sulphide-rich host horizon, along the intersection with the NE-SW striking fault shown on Figure 2.

The location of Shepherds Bush prospect is favourable, being 2km south of the Company's Spotted Dog South and Tim's Find existing gold resources (Figure1), which are within 10km of the Bottle Creek resources2. Alt has lodged a Program of Work (POW) to expand exploration drilling at Shepherds Bush, with RC drilling and, when approvals are received from the DMIRS, is scheduled to commence later in 2019.

Along with desktop review of historical datasets Alt has been carrying out field reconnaissance over the entire Mt Ida Project, which will help prioritize work going forward in 2019.

Source :

Posted By : Rabi Wangkhem on Fri, 15 Feb 2019
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