Alto Metals Ltd (ASX:AME) has intersected wide zones of gold mineralisation beneath the shallow mined historical Lord Nelson pit in the first three reverse circulation (RC) holes at the Sandstone Gold Project.
The new intersections highlight the significant potential in primary zones below the Lord Nelson pit, which remains open in all directions.
High-grade gold results include:
- 16 metres at 5.5 g/t gold from 240 metres;
- 12 metres at 3.9 g/t from 208 metres; and
- 12 metres at 3 g/t from 104 metres.
The Lord Nelson target is analogous to depth extensions demonstrated for other major Yilgarn orogenic gold deposits.
Further assays are pending from a further five holes from deeper drilling testing fresh rock below the pit and will be released when available.
Non-executive director Matthew Bowles said: “These are excellent results from below the historical Lord Nelson pit, where there has previously been little to no deeper drilling to test the fresh rock.
“This was primarily due to the focus of previous owners being on the softer, shallow oxide material, due to the inability of the former Sandstone process plant to treat large volumes of the harder, fresh ore found at depth.
“Our first three RC drill holes targeting shoots in the fresh rock below the open pit, have all intercepting a wide, high-grade zone of primary gold mineralisation.”
“Substantial growth potential”
Bowles continued: “Everything we are seeing supports our view that there is substantial growth potential at depth as surficial oxide gold deposits, such as Lord Nelson, are the geochemical anomalies which lead to multi-million-ounce gold discoveries at depth in orogenic gold systems.
“This is an outstanding result for shareholders, we are excited to be back focusing on exploration at Sandstone and look forward to providing updates on further drilling results in the coming weeks.
Shallow extensions south of Lord Nelson
Recent wide spaced drilling has also targeted shallower mineralisation 200 metres south of the Lord Nelson pit.
- 24 metres at 3.7 g/t gold from 104 metres;
- 12 metres at 3 g/t from 32 metres;
- 4 metres at 2.2 g/t from 52 metres; and
- 12 metres at 3.4 g/t from 32 metres.
The company has appointed Richard Monti as the new independent non-executive chairman, following Terry Wheeler’s decision to step down from the role of chairman and assume a role as non-executive director.
Monti is a geologist with more than 30 years’ in the international mineral resource industry, resulting in broad industry knowledge and strong strategic planning capabilities.
He has first-hand working knowledge of all aspects of the industry, including 48 years ‘ of experience as a director on 13 ASX and TSX listed companies, covering exploration and mining activities.
Directorships include four as chairman and sitting on numerous sub-committees along with roles at several international and Australian companies including Anaconda Nickel, Azimuth Resources Limited, The North Group and The Normandy Group.
Monti said: “I am delighted to join the Board of Alto to help guide the company through this exciting time of exploration and corporate activity.
“I am very familiar with Archeaen orogenic gold having worked throughout the Yilgarn as an exploration geologist and consider that significant exploration potential at the Sandstone Gold Project is yet to be realised.”