Company
ASX:AME
Alto Metals Ltd is an advanced gold explorer that owns the Sandstone Gold Project in the east Murchison of Western Australia. The Sandstone Gold Project covers ~740km 2 of the Sandstone Greenstone Belt and has an optimised, open-pit constrained mineral resource estimate (MRE) of 832,000 ounces of gold at 1.5g/t, capturing over 80% of the unconstrained total MRE of 1.05 million ounces.
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The latest results indicate that the company is potentially onto a large gold system with the potential to further enhance the Sandstone Gold Project.
Drilling has returned broad high-grade results of up to 45 metres at 3.2 g/t gold including 5 metres at 17.5 g/t from below the Lord Nelson pit and 13 metres at 5.1 g/t including 3 metres at 17.0 g/t at a new zone around 400 metres to the s
All of the new results are outside the current 109,000-ounce Lord Nelson resource, highlighting the potential for future resource growth.
This is the first time diamond drilling has been undertaken at Vanguard, with the objective of evaluating the nature of gold mineralisation and orientation of the mineralised structure.
Resource definition drilling at Lord Henry is targeting down-dip extensions of mineralisation to the north, strike extensions to the west and further potential stacked lodes at depth.
The ongoing exploration success highlights that the around 900 square kilometres Sandstone Gold Project, which covers the majority of the Sandstone Greenstone Belt, is still very much underexplored.
According to the company, the latest results highlight the continuity of mineralisation at Vanguard, with wide intercepts of up to 28 metres at 1.5 g/t gold.
Results from an extensive drilling campaign at the explorer’s flagship gold asset continue to confirm the Sandstone Gold Project’s prospectivity.
Results from an extensive drilling campaign at the explorer’s flagship gold asset continue to confirm the Sandstone Gold Project’s prospectivity.
Assay results for 13 drill holes for over 2,600 metres of RC drilling remain pending for Vanguard and a further 43 drill holes for more than 9,000 metres of RC drilling from the Lords Corridor.
Mineralisation at the Vanguard and Vanguard North trends is together defined over a total 2,000 metres and remains open along strike and down dip.
The company’s ongoing drilling program is focused on testing extensions of known mineralisation below Lord Nelson and Lord Henry open-pits, extensions of the new Orion Lode.
Assays remain pending for a further 67 holes from 12,511 metres of drilling, targeting extensions of known mineralisation at Lord Nelson, Orion Lode and Vanguard.
Earlier this week, Alto received further strong assay results from ongoing drilling at the Sandstone Gold Project, confirming another lode within a new zone of gold mineralisation.
The option conversion was strongly supported by existing shareholders and is a clear endorsement of the company’s strategy to focus on exploration.
Results have extended the overall mineralised footprint to over 1 kilometre south of Lord Nelson and this remains open in all directions, highlighting the potential of Lord’s Corridor and the Sandstone Gold Project.
A 30,000-metre drilling campaign is underway and Alto says there is untapped potential beneath the surface.
Two reverse circulation drill rigs are now operating on-site at the Lord Henry and Orion Lode prospects.
The acquisition of additional land complements Alto’s immediate exploration focus on the ‘Alpha’ domain region of the 331,000-ounce project.
The results continue to highlight the continuity of shallow mineralisation and growth potential with several intersections outside the current resource for Vanguard Camp of 856,000 tonnes at 1.8 g/t gold for 50,000 ounces.
