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Alto Metals firms up Sandstone gold potential with more high-grade Lord Nelson results

The inferred resource estimate at Lord Nelson is 980,000 tonnes at 2.2 g/t gold for 68,000 ounces, which forms part of the global indicated and inferred mineral resource estimate for Sandstone of 290,000 ounces.

Alto Metals Ltd - Alto Metals re-split assays at Lord Nelson return more high-grade results
Re-split sample results have returned numerous high-grade gold intercepts greater than 10 g/t gold

Alto Metals Ltd (ASX:AME) continues to validate the potential of the Sandstone Gold Project in WA with further high-grade results from drilling at Lord Nelson open pit.

Final 1-metre re-split assay results from RC drilling in February/March of 19 holes for 3,718 metres targeted southern extensions of the deposit and untested areas beneath the open pit.

The Lord Nelson deposit was previously mined by Troy Resources Ltd (ASX:TRY) down to 90 metres depth and produced 207,000 ounces at 4.6 g/t gold.

New results from below the shallow mined historical Lord Nelson pit include:

  • 17 metres at 3.5 g/t from 200 metres including 4 metres at 11.6 g/t from 211 metres, and 1-metre at 25.5 g/t from 214 metres,
  • 16 metres at 5.2 g/t from 240 metres including 3 metres at 13.5 g/t from 240 metres, and
  • 5 metres at 3.1 g/t from 232 metres.

Non-executive director Matthew Bowles said: “We are impressed with the width and grade of these latest assay results from Lord Nelson, particularly as they are from a previously untested primary zone beneath the historical pit.

“These results confirm the continuity of high-grade mineralisation down plunge from the current defined resource and have very high-grade in the deepest hole Alto has yet drilled at Lord Nelson.”

Southern extension

The re-split assays have also confirmed shallow mineralisation (around 70 metres vertical depth) along about 200 metres of strike south of the Lord Nelson pit.

Results include:

  • 23 metres at 3.8 g/t from 106 metres including, 6 metres at 4.6 g/t from 106 metres, and 10 metres at 4.5 g/t from 116 metres, and
  • 10 metres at 4.1 g/t from 34 metres including 2 metres at 12.8 g/t from 36 metres.

The mineralisation style and geological setting of this lode is the same as that of the Lord Nelson deposit.

Lord Nelson plan view showing significant assay results

Follow-up drilling planned

Alto believes that the significant potential of this area has not yet been realised and the prospect will remain a priority area and focus of the company’s future drilling programs.

The company has granted mining leases over Lord Nelson, Lord Henry, Havilah, Indomitable Camp and Vanguard Camp gold deposits.

The planning of further RC drill programs is underway and may include:

  • Infill and extension drilling both along strike and at depth at Lord Nelson,
  • Testing of additional near-term targets in the Lords’ Camp area, and
  • Follow up drilling at other prospects including Vanguard and Indomitable Camps.

Alto is also planning to drill test the Chance prospect, which is an approximately 2-kilometre long x 500 metres wide undrilled soil anomaly on the Edale Shear, where it has been awarded up to $150,000 as part of the WA Government Exploration-Incentive-Scheme Co-funded Exploration Drilling Program.

Shares have opened almost 5% higher this morning and are trading at 6.8 cents.

Quick facts: Alto Metals Ltd

Price: 0.075 AUD

Market: ASX
Market Cap: $22 m

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