Alto Metals Ltd (ASX:AME) traded higher after intersecting the highest grade ever reported from the Vanguard prospect of Sandstone Gold Project in Western Australia with a result of 4 metres at 60.6 g/t from 40 metres.
With the wide-spaced step-out reverse circulation (RC) drilling on an 80 x 80-metre grid at Vanguard intersecting visible gold in shallow primary mineralisation, investors responded well with shares as much as 20% higher to 14.5 cents intra-day.
The 4-metre result was within 12 metres at 22.5 g/t gold from 40 metres.
These results from the Vanguard and Vanguard North trends have been described by managing director Matthew Bowles as being "exceptional"
Mineralisation at Vanguard has been extended to more than 800 metres of strike and remains open.
“Highest grade ever reported”
Bowles said: “The visible gold from SRC286, assaying 4 metres at 60.6 g/t gold, is the highest grade ever reported from Vanguard.
"It is shallow at less than 40 metres from surface and demonstrates the potential for Vanguard to host more exceptionally high-grade gold mineralisation.
“Our wide-spaced, step-out drilling has now confirmed gold mineralisation over two kilometres and it remains open along strike and down dip.
“We can see Vanguard continuing to grow and plan to systematically test both the Vanguard and Vanguard North trends, along with the overall 20-kilometre corridor of differentiated dolerite that hosts Vanguard, Havilah and Indomitable deposits.”
Assays are pending for two lines of drilling 80 metres and 160 metres along strike, between SRC286 and the Vanguard deposit.
Other shallow results returned include 8 metres at 3.1 g/t gold from 8 metres, including 4 metres at 5.8 g/t from 8 metres, 8 metres at 2.8 g/t from 44 metres, including 4 metres at 5.3 g/t from 44 metres and 4 metres at 6.8 g/t from 124 metres.
Results validate a “much larger gold system”
Bowles continued: “Coming on the back of the ongoing success we are having at the Lords Corridor, where drilling is ongoing, these outstanding results from Vanguard validate our approach and view of a much larger gold system at our Sandstone Gold Project.
RC drilling has also highlighted a granotoid intrusion-related style of mineralisation within the differentiated dolerite package, with broad zones of lower grade ‘halo’ mineralisation including 12 metres at 1 g/t gold from 204 metres.
Regionally, the Vanguard Camp is within a 20-kilometre northwest-southeast trending corridor, of differentiated dolerite, which also hosts the Indomitable and Havilah deposits.
Ongoing drilling and pending assays
A total of 13 drill holes for more than 2,600 metres remain pending for Vanguard and a further 30 drill holes for over 6,300 metres of drilling from the Lords Corridor.
RC drilling is ongoing at the Lords Corridor, systematically testing several targets.
The current program has been extended by an additional 10,000 metres, based on the results received to date, while Alto Metals awaits further assays before finalising the next major drilling program.
A diamond drill rig has been secured for 3,000 metres of drilling and is anticipated to begin in the next week.