Pre-Feasibility Study & Maiden Ore Reserves
Canberra, July 10, 2020 AEST (ABN Newswire) - Alt Resources Ltd (
ASX:ARS) is pleased to announce the results of its Preliminary Feasibility Study (PFS) and Maiden Ore Reserve for the Mt Ida and Bottle Creek Gold Project which are located 80km north west of Menzies in the Mt Ida gold belt (Figure 1*). The PFS and Maiden Ore Reserve supports an initial seven year Run of Mine (ROM) with robust economics The Mt Ida and Bottle Creek Ore Reserve is estimated at 4.61 million tonnes at 1.8g/t Au and 15.8g/t Ag for 272,000 ounces gold and 2.1M ounces of silver from ten open pit designs which make up the Mt Ida and Bottle Creek Gold Project.
Alt CEO James Anderson commented: "The PFS and Maiden Ore Reserve confirms the Mt Ida Bottle Creek Gold Project as a promising undeveloped gold asset which is technically and financially sound. The work the Company has done over the past 3 years culminating in this PFS demonstrates the potential for this under explored Northern Goldfields region. The future development of a treatment plant will encourage other stranded assets located in the region to be further explored and developed. The Mt Ida Bottle Creek projects, close proximity to Kalgoorlie, the sunk capital as a legacy benefit from Norgold and the project being oxide open pits makes Mt Ida and Bottle Creek an attractive development proposition".
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/06LTH6D0
About Aurenne Alt Resources Pty Ltd
Aurenne Alt Resources Pty Ltd 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.
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