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Alto Metals in consecutive trading halts ahead of capital raising announcement

Continuity of results from Orion have extended Lord Nelson's mineralised footprint, supporting the company’s plan for a further 2,000 metres of drilling along the Lord’s Corridor.

Alto Metals Ltd - Alto Metals in trading halt ahead of proposed capital raising
Alto Metals is primarily focused on the flagship 331,000-ounce Sandstone Gold Project

Alto Metals Ltd (ASX:AME) has been granted consecutive trading halts by the ASX while the company considers, plans and executes a capital raising.

The halt will remain in place until the beginning of ASX trading on Tuesday, September 22, or when an announcement is released to the market, whichever occurs earliest.

Securities last traded at 8.5 cents and are up from 7.1 cents at the market close on July 24.

High-grade Lord Nelson results 

Alto recently received further shallow high-grade gold results from Orion discovery which extend the mineralised footprint of Lord Nelson deposit within the Sandstone Gold Project in WA to more than 1-kilometre.

Results of up to 12 metres at 4.8 g/t from 84 metres have been received from a further 11 reverse circulation (RC) holes for 2,132 metres at the Orion lode discovery, 200 metres south of the Lord Nelson pit, as well as from beneath the pit.

The step-out results from Orion Lode also include 4 metres at 4.1 g/t from 28 metres with another hole returning 12 metres at 1.2 g/t from 68 metres and 8 metres at 1.3 g/t from 84 metres.

Infill drilling beneath the Lord Nelson pit returned 8 metres at 4.1 g/t from 208 metres.

Quick facts: Alto Metals Ltd

Price: 0.084 AUD

ASX:AME
Market: ASX
Market Cap: $25 m
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