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Alt Resources Limited

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Alt Resources : Mt Ida and Bottle Creek Gold Project Metallurgical Leach Testwork, Como Engineers

May 05, 2020 at 08:35 am EDT

Alt Resources Limited (ASX: Alt Resources Ltd ('Alt' or 'the Company') (ASX: ARS) is pleased to provide summarised details from metallurgical leach testwork undertaken by ALS Laboratories Perth and AMML Laboratories in Sydney for recovery of gold and silver from the Mt Ida and Bottle Creek Gold Projects PreFeasibility Study (PFS) being prepared by Como Engineers Pty Ltd with a summary of recovery results.

Alt CEO James Anderson commented 'The leach recovery testwork managed by Como over the past three months is a very positive outcome for the projects PFS and financial metrics. It has been quite a compl ex process as we have optimised ten pits with the inclusion of multiple ore types and material types. ALS and the Como staff have done an excellent job delivering this in the time frame considering the social distancing measures and restrictions on operations in place, we are very pleased with the recovery data from the testwork carried out.'

The Company now expects to deliver the PFS in May 2020. The PFS and maiden ore reserve statement was scheduled for delivery by the end of April 2020. Delays in receipt of the final metallurgical leach results from the laboratory caused by COVID - 19 operational restrictions will mean delivery of the maiden ore reserve statement will now also be in May 2020.

The final pit designs for the ten Mt Ida and Bottle Creek open pits are expected to be completed this week by Minecomp Pty Ltd in Kalgoorlie enabling the delivery of the mining schedule for the PFS and the maiden ore reserve statement. The PFS delivers open pit mining operations from ten open pits contained within the Mt Ida and Bottle Creek Gold Project area from six granted mining leases, mining a combination of oxide, transitional and fresh material in various stages of planned mining operations.

The gold and silver leach recovery testwork supervised by Como Engineers Senior Process Engineers has been part of the Company's PFS currently nearing completion. The report of the Metallurgical Leach Testwork Report conducted by Como Engineers is contained in this announcement in its complete form.

Contact:

Peter Nesveda

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 and to build value for shareholders. The Company's portfolio of assets includes the greater Mt Ida and Bottle Creek Gold Projects located in the Mt Ida gold belt of Western Australia and the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW. Alt Resources, having acquired the Mt Ida and Bottle Creek Gold Projects with historical and under-explored tenements in the Mt Ida gold belt in the Northern Goldfields of WA, 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

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Company Profile

ALT Resources Limited is a junior mineral exploration company engaged in pursuing a joint venture agreement with GFM exploration pty ltd, with a view to facilitate the development of gold mining activities. The Company is exploring in the south east Lachlan Orogen in New South Wales, where it has discovered an intrusion related gold (IRG) mineral system. It holds interest in Myalla Prospect and Paupong Project. Its Myalla Prospect lies approximately 15 kilometers to the northeast of Dalgety in New South Wales, and is over 30 kilometers from the Paupong Project that covers an area of over 50 square kilometers. Its Paupong Project's tenements are located over 15 kilometers south west of Dalgety, New South Wales in the eastern sub-provide of the Lachlan Orogen. It has entered into a joint venture with Ironbark Zinc Limited to explore Fiery Creek Project that is located over 60 kilometers from Paupong. Its tenements include EL7825 Paupong; EL8266 Paupong; EL8382 Paupong, and EL8416 Myalla.

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