Alto Metals Ltd (ASX:AME) substantial holder Westgold Resources Ltd (ASX:WGX) has increased its stake in the company to 13.81%.
This follows the purchase of a total of 7.7 million shares between June 4 and June 18, increasing the number of securities held in the company to more than 62.187 million.
Lords Corridor high-grade gold hits
On June 2, Alto hit further high-grade gold during reverse circulation (RC) drilling at the Sandstone Gold Project in WA.
Assays from a further 24 holes for 5,441 metres of step-out drilling, were reported, intersecting high-grade gold across the project’s Lords Corridor zone.
Drilling beneath the Lord Henry pit was particularly successful, intersecting 72 metres at 1.2 g/t gold from 60 metres, including 12 metres at 5.1 g/t from 108 metres and 4 metres at 10.1 g/t from 112 metres.
Essentially, the latest RC assays point to high-grade mineralisation outside Lord Henry’s current resource, with signs the pit’s mineralisation remains open to the north.