viewAlto Metals Ltd

Alto Metals intersects wide gold zones beneath Lord Nelson pit at Sandstone Gold Project

Four metre composite assays have been received for the first three deeper RC holes targeting primary gold mineralisation, with gold intersected in every drill hole.

Alto Metals Ltd - Alto Metals intersects wide gold zones beneath Lord Nelson pit at Sandstone Gold Project
RC chips from drill hole SRC176

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.

“Excellent results”

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.

Results include:

  • 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.

Board changes

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.”

Quick facts: Alto Metals Ltd

Price: 0.073 AUD

Market: ASX
Market Cap: $21.42 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Alto Metals Ltd named herein, including the promotion by the Company of Alto Metals Ltd in any Content on the Site, the Company receives from...



Alto Metals adding ounces and grade across multiple deposits at Sandstone...

Alto Metals Ltd (ASX:AME) managing director Dermot Ryan summarises for Proactive Investors the past 24 months of exploration and metallurgical test works at the approximately 800 square kilometre Sandstone Gold Project in Western Australia. There is currently a defined a gold resource of...

on 6/12/18

3 min read