Alto Metals Ltd (ASX:AME)’s maiden diamond drilling campaign has confirmed the down-plunge continuity of high-grade gold at Lord Nelson Sandstone Gold Project, while reverse circulation (RC) drilling at Lord Henry has intersected further shallow, high-grade mineralisation.
The ongoing exploration success highlights that the around 900-square-kilometre Sandstone Gold Project, which covers the majority of the Sandstone Greenstone Belt in Western Australia, is still very much underexplored.
The Sandstone Gold Project currently hosts a JORC 2012 mineral resource estimate of 6.2 million tonnes at 1.7 g/t gold for 331,000 ounces.
The ongoing drilling program is focused on growing these resources and targeting further high-grade strike and depth extensions of existing mineralisation.
“Great results”
Alto managing director Matthew Bowles said: “These are great results, demonstrating the continuity of high-grade mineralisation outside the current resources at Lord Nelson and Lord Henry remains open down plunge.
“Our ongoing exploration success continues to highlight that the Sandstone Gold Project is still very much underexplored.
“Exploration activities at Sandstone are continuing with two RC and one diamond rig on site.
“Ongoing RC drilling is focusing on growing the current mineral resource, as well as targeting new areas of strike extension to grow the overall resource at the Sandstone Gold Project.”
Lord Nelson drill results
A total of 13 diamond holes within the maiden 3,000 metres of the 17-hole diamond drill program have been drilled so far, with results received for the first of the seven holes drilled, returning:
- 36 metres at 2.0 g/t gold from 203 metres;
- 3.6 metres at 10.5 g/t from 232.8 metres; and
- 0.6 metres at 23.1 g/t from 234 metres.
Lord Henry results
The new assays from RC drilling at Lord Henry relate to four-metres composite results for 16 holes, for 2,725 metres, and include a number of shallow more than 20-gram*metre intersections of:
- 52 metres at 2.1 g/t gold from 40 metres, including 4 metres at 13.8 g/t gold;
- 16 metres at 1.8 g/t gold from 12 metres;
- 4 metres at 6.2 g/t gold from 64 metres;
- 36 metres at 0.8 g/t gold from 84 metres, including 12 metres at 1.0 g/t gold from 108 metres.
Mineralisation at Lord Henry remains open to the North down-dip and along strike.
The current mineral resource at Lord Henry is 69,000 ounces of gold, comprising 65,000 ounces Indicated and 4,000 ounces Inferred.
These latest results highlight the significant likelihood for further resource growth.
Ongoing drilling program
RC and diamond drilling is ongoing at the Sandstone Gold Project with two RC and one diamond rig on site.
The RC drilling is focused on resource and extensional drilling at both the Lords and Vanguard.
The final four holes of the 17-hole diamond program are currently underway and the 12 completed holes are with the laboratory for cutting and assay.
Upcoming assay results
Bowles added: “We are still experiencing delays in assay turn-around time, as are many of our peers, given the level of exploration, however, we look forward to receiving further results from our ongoing drill program in the coming weeks.
“One of the key takeaways for investors from today’s announcement is that we already have a number of assays results, that sit outside the current resource, plus core from 12 diamond holes and samples from 88 RC holes in the laboratory awaiting processing, and the rigs are still turning.
Assays remain pending for 88 RC holes are from the Lords Corridor and Vanguard.
Upcoming results in the coming months are expected to include:
- RC results from Lord Henry – infill and extensional;
- RC results from Lord Nelson – infill and extensional;
- RC results from Vanguard – infill and extensional; and
- DD results from Lord Nelson, Orion Lode, Lord Henry, Vanguard and Indomitable.