Extensional drilling continues to highlight the continuity of thick gold mineralisation below the shallow Lord Nelson pit

Alto Metals Limited (ASX: AME) (Alto or the Company) is pleased to report further high-grade gold assay results from RC drilling below the Lord Nelson pit, as part of the ongoing major RC drilling program at its 100% owned, ~900km2 Sandstone Gold Project, in Western Australia.


Highlights

  • Latest assays from the ongoing major drilling program at the Company’s flagship Sandstone Gold Project highlight further thick, high-grade gold mineralisation at the Lord Nelson deposit, hosted within the +3km Lords granodiorite, including a stand-out intercept of 67m @ 2.3 g/t gold from 172m (SRC 576).
  • Significant new results received from extensional RC drilling below the Lord Nelson pit include:
    • 67m @ 2.3 g/t gold from 172m, incl. 6m @ 5.4 g/t gold from 179m (SRC 576)
    • 19m @ 1.5 g/t gold from 185m, inc. 1m @ 17.8 g/t gold from 198m (SRC 582)
    • 12m @ 1.4 g/t gold from 50m, incl. 1m @ 10.2 g/t gold from 59m; and 11m @ 1.0 g/t gold from 84m (SRC 580)
    • 11m @ 1.3 g/t gold from 156m, and 6m @ 3.0 g/t gold from 215m (SRC 579)
  • SRC576 followed up on the recently announced SRC432 which returned 45m @ 3.2 g/t gold from 161m and has extended thick high-grade mineralisation a further 20m down dip. Another RC hole, collared 20m west of SRC576 has been completed and results are pending.

  • Assays are currently pending for a further 5,025m of RC drilling, including at the Juno Lode located 600m south of Lord Nelson, targeting dip and strike extensions of known gold mineralisation including SRC443, which recently returned 13m @ 5.1g/t gold from 162m.
  • Interpretation of the recently completed gravity survey over the Lord Corridor is almost complete, which will assist in targeting the ‘damage zone’ of the Lords granodiorite and the high-grade mineralisation along the ultramafic footwall at depth.
  • Drilling is now underway at the Indomitable Camp, within the +20km NW/SE Indomitable/Vanguard/Havilah Trend, as part of the updated mineral resource planned for the second half of this year.
  • Alto’s major 60,000m drilling program planned for 2022, is targeting both resource growth and exploration, focusing on existing resources and a number of advanced regional prospects.
  • The current JORC 2012 Mineral Resource Estimate at the Sandstone Gold Project is 12.4Mt @ 1.6 g/t gold for 635,000oz. These resources are shallow, defined to a depth of less than 200m and remain open.
Alto’s Managing Director, Matthew Bowles said:
These are excellent initial results from our ongoing major drilling campaign and, on the back of the recent update of our open pit gold resource to 635,000oz, once again demonstrates the significant growth potential we see at the Lords Corridor and our entire Sandstone Gold Project.

A particular stand-out from these latest results is SRC576 returning 67m @ 2.3 g/t gold, highlighting the continuity of thick high-grade mineralisation within the current pit-shell at Lord Nelson.

A number of assays are currently pending, including from follow up drilling at Juno which are eagerly anticipated, as they targeted the up and down dip extensions of the new lode. We will then be then looking to test deeper primary targets within the Lords Corridor. In the meantime, our next phase of drilling is underway at Indomitable Camp, the first of our many near-mine regional targets, as we continue to focus on resource growth and exploration.

We see this a great start to another exciting year ahead and look forward to updating shareholders on further results from our ongoing drill program, over the coming weeks and months ahead.

Click here for the full ASX Release

This article includes content from Alto Metals Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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