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Corporate Spotlight

ALT Resources Limited (ARS) is an Australia based mineral exploration company. The Company's portfolio of assets Lachlan Orogen in NSW and the Agnew-Wiluna and Norseman-Wiluna Greenstone Belts located in the Eastern Goldfields of WA.
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(ASX:ARS) Flyover Bottle Creek Western Australia

GOLD IN SOIL

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HISTORICAL SOIL DATA REVIEW IDENTIFIES GOLD IN SOIL ANOMALIES MT IDA GOLD PROJECT

ASX Announcement 16 January 2019 


HIGHLIGHTS

  • Strong gold in soil geochemical anomalies highlighted throughout Mt Ida Project 
  • Anomalies overlie known mineralized structures and favourable host lithologies 
  • Minimal follow up exploration undertaken on many of these geochemical anomalies 
  • Field reconnaissance to commence early 2019 
  • POW’s being prepared for first pass RC drilling


Alt Resources Ltd (ASX: ARS, Alt or ‘the Company’) is pleased to report collation and review of historical soil geochemistry over the Mt Ida Project has confirmed multiple untested gold in soil anomalies which warrant further investigation and follow up work.


Since the completion of phase 3 RC drilling at Bottle Creek and as part of the ongoing exploration and development of the Bottle Creek and Mt Ida Gold Projects during the later stages of 2018, the Company geologists spent several weeks digitising historical soil geochemistry sampling undertaken by previous exploration companies across the Alt Mt Ida tenement package. The historical reporting being obtained through the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) WAMEX Mineral Exploration Reporting website.


Significant gold in soil geochemistry suggests the Mt Ida Project contains multiple gold prospects outside of the Company’s known and defined resources. Much of the Mt Ida tenure has undergone surface geochemical sampling in particular by Newcrest, La Mancha and Wild Acre Metals who completed several large scale regional soil grids over much of the Mt Ida project which Alt has spent the past two months compiling into a regional soil survey map. The soil sampling has been completed at various grid spacing and is dominated by auger sampling, with selected areas using sieved soils and is shown in Figure 1.


Figure 2 shows the gold in soil trends and areas of interest by project area, being the Quinns, Mt Ida South and Bottle Creek South projects and have been highlighted in Figures 3-5 as areas highest priority for follow up exploration and potential new drill targets for the Company. Many of these areas have had limited follow up exploration work undertaken. Alt is currently preparing Program Of Works (POW’s) for drilling approval in order of priority on targets identified and have scheduled first pass RC drilling to commence in late April 2019


The gold in soil anomalies identified in the Mt Ida South and the Quinns project areas are associated predominantly with the Ballard Fault on the eastern margin being the dominant structure controlling the mineralisation and the Bottle Creek South anomalies are associated with the Mt Ida Shear on the western margin. The Mt Ida Shear being the dominant structure controlling known Au mineralisation at Bottle Creek 3km up strike from Bottle Creek South.


Figure 1: Alt Resources, Mt Ida Project current tenement holdings and historical soil grid 


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RESULTS

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CONTINUED HIGH GRADE GOLD RESULTS FROM STAGE 3 RC DRILLING AT SOUTHWARK, EMU DEPOSITS, VB and BOAGS EXTENSIONS, BOTTLE CREEK GOLD PROJECT 

ASX Announcement 14 December 2018 


HIGHLIGHTS: 

  • High grade gold and silver intercepted, extending strike to the south of the Emu and Southwark deposits 
  • Drilling immediately north of VB Pit confirms high grade gold up strike 
  • Infill drilling between the Boags and VB pits confirms high grade gold and silver continuity 
  • Significant intercepts from North VB mineralised zones include: 

➢ 4m @ 8.95 g/t Au and 16.2 g/t Ag from 38m, including 2m @ 16.4 g/t Au 

➢ 6m @ 5.78 g/t Au and 19.5 g/t Ag from 36m, including 2m @ 12.95 g/t Au 

➢ 8m @ 4.53 g/t Au and 23.7 g/t Ag from 25m 

➢ 14m @ 3.87 g/t Au and 14 g/t Ag from 3m, including 2m @ 19.35 g/t Au 

➢ 16m @ 3.55 g/t Au and 20 g/t Ag from 36m 

➢ 7m @ 2.57 g/t au and 42.3 g/t Ag from 29m 

➢ 15m @ 2.35 g/t Au and 18.2 g/t Ag from 43m

➢ 8m @ 2.29 g/t Au and 45.3 g/t Ag from 42m 


  • Significant intercepts from the Boags mineralized zone include: 

➢ 8m @ 3.93 g/t Au from 32m, including 2m @ 10.48 g/t Au 

➢ 5m @ 3.82 g/t Au from 36m, including 1m @ 12.15 g/t Au 

➢ 18m @ 1.99 g/t Au and 20 g/t Ag from 61m including 1m @ 10.35 g/t Au 

➢ 14m @ 1.46 g/t Au and 32 g/t Ag from 59m 

➢ 23m @ 1.26 g/t Au and 13.1 g/t Ag from 47m 

➢ 11m @ 1.09 g/t Au and 43.3 g/t Ag from 64m 

➢ 20m @ 0.99.g/t Au and 25.9 g/t Ag from 65m 

➢ 12m @ 0.87 g/t Au and 192.2 g/t Ag from 76m 

➢ 14m @ 0.86 g/t Au and 188.6 g/t Ag from 80m 


  • Significant intercepts from the South Emu extension mineralized zone include: 

➢ 8m @ 4.53 g/t Au and 17.4 g/t Ag from 69m 

➢ 4m @ 3.32 g/t Au and 14.9 g/t Ag from 71m 

➢ 5m @ 2.79 g/t Au and 9.1 g/t Ag from 49m 

➢ 5m @ 2.58 g/t Au and 5.2 g/t Ag from 35m 

➢ 9m @ 2.33 g/t Au and 6.1 g/t Ag from 27m 

➢ 8m @ 1.93 g/t Au from 1m 

➢ 10m @ 1.81 g/t Au and 16.1 g/t Ag from 75m


  • Significant intercepts from the extended Southwark mineralised zone include:1 

➢ 8m @ 6.33 g/t Au from 68m, including 4m @ 11.42 g/t Au from 69m 

➢ 7m @ 4.15 g/t Au from 71m, including 1m @21.10 from 50m 

➢ 7m @ 4.14 g/t Au from 47m 

➢ 3m @ 3.35 g/t Au from 67m 

➢ 7m @ 2.74 g/t Au from 76m 

➢ 8m @ 2.45 g/t Au from 31m 

➢ 5m @ 2.90 g/t Au from 50m 

➢ 6m @ 2.19 g/t Au from 69m 

➢ 14m @ 2.12 g/t Au from 88m 

➢ 9m @ 1.97 g/t Au from 60m 

➢ 9m @ 1.75 g/t Au from 45m
➢ 17m @ 1.18 g/t Au from 85m 

➢ 11m @ 1.11 g/t Au from 97


Alt Resources Ltd (ASX: ARS, Alt or ‘the Company’) is pleased to announce the final results from the 3 rd stage of RC drilling undertaken at the Bottle Creek Gold Project. The Company has now completed infill drilling at the Southwark deposit, extension drilling at the southern end of the Emu deposit, new drilling at the northern end of the VB pit and between the mined VB and Boags pits (Figure 1)


The recent RC drilling program completed 74 RC drill holes for a total 5,560 metres at the Bottle Creek project covering ~500 metres of additional strike length further supporting the continuity and scale of this project.


All areas drilled are outside of previously mined areas; with Southwark and Emu located approximately 4 km up strike to the north of the VB and Boags open pits as shown in Figure 1. 


All gold and silver assays have now been received for these drillholes completing the latest round of RC drilling results for this 3rd stage drilling at the Bottle Creek Gold Project. All significant assayed results are listed in detail in Table 1. New results will be incorporated into mineralisation wireframes over the coming months and included in an updated Bottle Creek resource estimate in the first quarter of 2019.


Alt’s combined mineral resource Inventory now stands at 3.9 Mt @ 2.07 g/t Au, for 257,000 oz Au2 previously announced 18 October 2018. 


The 3rd stage RC drilling focused on four areas along the mineralised corridor; on the south end of the Southwark resource area, on the south end of the Emu resource area, at the north end of the VB Pit, and between the Boags and VB pits, (Figure 1). 


Part of the recent RC drill program was designed to test mineralisation between the Southwark and Emu ore bodies, with 6 fences drilled covering an additional 150 metres along strike from Southwark south towards Emu. The significant Southwark intercepts listed above support continuity of mineralisation in this area. South of the existing modelled Emu ore body, 12 holes were drilled over 100 metres of strike. All holes intersected mineralisation.


In the VB area 22 holes were drilled, with continuity of mineralisation to the north of the pit confirmed over 100 metres of strike.


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CORPORATE UPDATE

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CORPORATE UPDATE 

BOTTLE CREEK GOLD PROJECT

ASX Announcement 28 November 2018


Alt Resources Limited (“Alt or the Company”) is pleased to provide the following information on the acquisition of Bottle Creek Gold Mine. In November 2017 the Company entered into a binding Option to Purchase Agreement (Option) to acquire the Bottle Creek Gold Mine located 80 kilometres north west of Menzies in the Mt Ida gold belt in WA.


On 26 September 2018 the Company announced amended settlement terms pursuant to the acquisition of the Bottle Creek Gold Project1 , and further to this announcement Alt has recently re-negotiated the settlement terms with the Vendor as follows;


  • $500,000 initial instalment on 29 November 2018 
  • $500,000 second instalment on 1 July 2019 
  • $500,000 third instalment on 1 July 2020 
  • $4.5M final instalment 29 November 2020 
  • $25,000 rehabilitation bond.


The Company recently completed the 3rd stage RC drilling program at Bottle Creek and is expecting to announce the results from this drilling program once all assays have been received by the Company. Pending the receipt of the outstanding assays from the 3rd stage RC program Alt will revise and upgrade the current Bottle Creek Resource model adding the additional ounces from the program into the current resource model.


It is anticipated stage three RC drilling results and the resource upgrade will be completed in the first quarter of 2019.


Drilling at Bottle Creek is scheduled to recommence in February 2019 with the planned vertical drilling program further defining the large zones of mineralised laterites at Emu and Southwark deposits and additionally the company will complete air-core drilling across the Bottle Creek tailings.


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QUARTERLY

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QUARTERLY REPORT 

Review of Activities, Period ending 30th September 2018

ASX Announcement 25 October 2018

OVERVIEW 

Alt Resources Limited (“Alt” or “the Company”) is pleased to provide shareholders its Activity Report for the Quarter ending 30th September 2018. 

During this period, the Company’s key focus has continued to be the establishment of a central gold mining hub at the Bottle Creek Mine Site in Western Australia. Of great significance this Quarter was the completion of all conditions to exercise the Option to Purchase the Bottle Creek Gold Project, with the final payment to be made in two tranches of $1.875M in November 2018 and $3M in November 2019. 

The final condition of the Option was the release of the Maiden JORC Resource in August, which constituted the first modern resource for the Bottle Creek Project and the first resource estimate undertaken by Alt Resources within its larger Mt Ida Gold Project. 

The Mt Ida Gold Project is rapidly evolving into a promising gold hub, with multiple exploration and mining targets throughout the vicinity.

KEY POINTS: 

Bottle Creek, WA 

Acquisition 

  • All conditions satisfied to complete and exercise the Option to Purchase Agreement for the Bottle Creek Gold Project 
  • Final payment for Bottle Creek to be made in 2 tranches 
    • 1st tranche payment $1.875M in November 2018 
    • 2nd tranche payment $3.0M in November 2019

Resource Upgrades 

  • Bottle Creek JORC Resource estimate stands at 2.6Mt @ 1.9 g/t Au for 160,000 oz Au 
  • Greater Mt Ida Project combined resource inventory now stands at 3.9Mt @ 2.07 g/t Au for 257,000 oz Au and 900,000 oz Ag 
  • Measured + Indicated Resource for the global Mt Ida Project is 132,000 oz Au 
  • Alt’s average discovery cost over the Bottle Creek project is now $7.80 per ounce 
  • Third stage RC drilling has commenced at VB and Boags, testing mineralisation potential immediately along strike of the historical pits 
  • Mine planning, pit optimisation and metallurgical study currently underway ahead of PreFeasibility Study (“PFS”)

WESTERN AUSTRALIA 

Bottle Creek Project - Acquisition

The Company entered into a binding Option to Purchase Agreement to acquire the Bottle Creek Gold Mine located 80 kilometres north west of Menzies in the Mt Ida gold belt WA in November 2017. 

In August 2018, Alt delivered the maiden JORC resource for the Bottle Creek Project; the final condition precedent to satisfy all the terms contained in the Option agreement.

Under the amended settlement terms negotiated the Company will pay the Vendor; 

  • $1.875M Initial instalment in November 2018 
  • $3.0M Final Instalment in November 2019 
  • $240,000 interest payment 
  • $60,000 compensation payment 
  • $25,000 rehabilitation security bond 

Alt now will focus on moving Bottle Creek towards feasibility study and production planning.


GOLD & SILVER

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HIGH GRADE GOLD AND SILVER RESULTS CONTINUE AT SOUTHWARK, BOTTLE CREEK GOLD PROJECT

ASX Announcement 30 October 2018

HIGHLIGHTS: 

  • High grade gold intercepts extend mineralised strike 150m south of Southwark deposit 
  • Results support previous interpretation of a coherent mineralised zone which appears to be open and broadening at depth 
  • Phase 3 RC drilling assays confirms continuity of mineralisation between Southwark and Emu from 1,559m drilled covering 20 drill holes 
  • Additional 4,000m RC drilling for 54 drill holes currently being assayed; yet to be announced 
  • Significant intercepts from extended Southwark mineralised zone include: 
    • 8m @ 6.37 g/t Au from 68m, including 4m @ 11.42 g/t Au from 69m 
    • 7m @ 4.15 g/t Au from 71m 
    • 7m @ 3.90 g/t Au from 47m, including 1m @21.10 g/t Au from 50m 
    • 3m @ 3.35 g/t Au from 67m 
    • 7m @ 3.10 g/t Au from 76m 
    • 5m @ 2.90 g/t Au from 50m 
    • 14m @ 1.89 g/t Au from 88m 
    • 6m @ 2.19 g/t Au from 69m 
    • 8m @ 2.03 g/t Au from 31m 
    • 9m @ 1.95 g/t Au from 45m (to EOH), including 1m @ 9.51 g/t Au from 51m 
    • 11m @ 1.54 g/t Au from 58m 
    • 17m @ 1.09 g/t Au from 85m 
    • 11m @ 1.04 g/t Au from 97m 
  • High grade silver, up to 926 g/t Ag intercepted with gold 
  • Additional resource upgrade from Phase 3 drilling expected in 1st Quarter 2019

Alt Resources Ltd (ASX: ARS, Alt or ‘the Company’) is pleased to announce initial results from the 3 rd phase RC drilling program undertaken at the Bottle Creek Gold Project. Recent RC drilling at the south end of the Southwark deposit covered 150 metres of additional strike length. With grades up to 21.1 g/t Au1 and 926.0 g/t Ag2 in individual samples, the results continue to support the continuity of gold + silver mineralisation between Southwark and Emu.

Southwark is un-mined gold deposit that lies approximately 4 km north along strike from the VB and Boags open pits (Figure 1). Alt recently drilled an additional 20 RC drill holes at Southwark (SWKRC045 to SWKRC064) as part of a third phase of resource drilling, for 1,559m. This completes the current round of resource drilling at the Southwark deposit. All significant assayed results are listed in detail in Table 1. Based on these and previous results for Southwark3 , mineralisation appears to be widening with depth, whilst maintaining medium to high grade gold values.

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