Alt Resources Ltd (ASX: ARS, Alt or 'the Company') is pleased to provide this update on the planned mining operations at the Tim's Find gold deposit, located in the Mt Ida South region of the Mt Ida and Bottle Creek Gold Project.
On the 2nd April 2020 the Company upgraded the Mt Ida and Bottle Creek Gold Project Resource Estimate which includes the Tim's Find project area1.
The Company has lodged the Tim's Find Mine Plan (TFMP) application with the Department of Mines Industry Regulation and Safety (DMIRS) on 7 April 2020.
The commencement of mining operations at Tim's Find will be entirely dependent on the capacity of Blue Cap to continue their operations within the constraints, restrictions and requirements to operate safely under COVID-19 directives as mandated by the Western Australian Government.
The Tim's Find haul road (ML29/139) and mine site (M29/421) clearing permits (8763/1) for the project have been approved by DMIRS. Clearing at the mine site and haul road construction can begin prior to mining operations and will commence upon receipt of the Mining Approval from the DMIRS and pending the availability of the Blue Cap mining fleet currently located in Laverton.
MINERAL RESOURCE STATEMENT
The resource estimates are classified in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC, 2012).
CORPORATE STRATEGY TOWARDS DEVELOPMENT
Since drilling commenced in March 2018 the Company has delivered in excess of 40,000 metres of RC and 2,100 metres of diamond drilling, focussing on expanding the Mt Ida and Bottle Creek JORC 2012 resources to a level that will support the development of a treatment plant which is planned to be located at Mt Ida.
In line with the Corporate Strategy, COMO Engineers have been contracted to deliver a Pre-Feasibility Study (PFS) for the Mt Ida and Bottle Creek Gold Projects. Delivery of the PFS is scheduled for release early of Q2- 2020 as well as delivering the Company's Maiden Ore Reserve Statement and Financial Model. A final Feasibility Study (FS) is scheduled for delivery Q3-2020.
In addition to the Tim's Find planned mining operation, the Company is scheduled to continue drilling operations at the Mt Ida and Bottle Creek project later in the year, expanding the growing inventory to support the development of a planned treatment plant to service the Mt Ida and Bottle Creek Gold Projects.
Future drilling operations will be dependent on available drill rigs and operational restrictions relating to COVID-19 in WA.
This announcement has been authorised and approved for lodgement on ASX by James Anderson the Chief Executive Officer of Alt Resources Limited.
Contact:
Tel: +61 (0) 412 357 375
Email: peter@intuitiveaustralia.com.au
About Alt Resources
Alt Resources is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets to build value for shareholders. The Company's portfolio of assets includes the Bottle Creek Gold Mine and the Mt Ida Gold Projects located in the Mt Ida gold belt Western Australia and the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW. Alt Resources holds a significant land package at Mt Ida in the Northern Goldfields of WA. The Company aim's to consolidate and deliver resource ounces adding value for Shareholders by delivering results and to explore new gold targets identified within the Companies landholding.
ALT RESOURCES LIMITED 