Alto Metals Ltd (ASX:AME) has delivered more high-grade gold results in final assays from a recently completed 5,562-metre reverse circulation (RC) drill program at the new Orion Lode discovery of Sandstone Gold Project in WA, including up to 29 metres at 3.5 g/t from 49 metres.
Drilling targeted high grade gold mineralisation beneath the Lord Nelson open pit and at the Orion gold lode discovery, which sits just 200 metres south of Lord Nelson.
The ongoing and encouraging results have prompted Alto to undertake the next 5,000-metre phase of a planned 30,000-metre drilling program to test for repeat lodes along the Lords' Corridor which extends for at least 3 kilometres with the program to start this week.
The 29-metre intersection included 7 metres at 7.9 g/t gold from 53 metres and other infill drilling highlights were:
- 13 metres at 3.3 g/t from 83 metres, including 2 metres at 8.8 g/t from 85 metres;
- 16 metres at 3.1 g/t from 105 metres, including 2 metres at 7.7 g/t from 118 metres; and
- 32 metres at 1.4 g/t from 51 metres.
Step-out drilling returned 7 metres at 2.7 g/t from 155 metres, including 2 metres at 6.3 g/t from 159 metres and has now defined the Orion Lode over 300 metres and extended the overall mineralised footprint of Lord Nelson to more than 1,000 metres.
“Repeat of Lord Nelson”
The Orion Lode is the first new gold lode discovered and Alto’s geological modelling indicates the potential for further Lord Nelson-style repeat lodes within the Lords' Corridor.
Alto managing director Matthew Bowles said: “We continue to be highly encouraged by the results from the Orion Lode, which demonstrate excellent continuity of shallow, high-grade gold mineralisation.
“We have only just scratched the surface of this new lode and our focus is on the down dip and strike potential of Orion, which has all the hallmarks of being part of a much bigger system.
“The Orion Lode is considered to be a repeat lode of the Lord Nelson deposit and our geological modelling highlights the potential additional for Lord Nelson-style repeat lodes along the Lords’ Corridor.”
Lord Nelson N-S Long Section gold mineralisation envelope showing multiple lodes of high-grade gold mineralisation.
Lord Nelson drilling
Step-out drilling beneath the Orion Lode and Lord Nelson pit has extended the high-grade mineralisation down dip and down plunge, including
- 32 metres at 2.5 g/t from 223 metres, including 4 metres at 12.3 g/t from 245 metres;
- 7 metres at 4.6 g/t from 209 metres, including 2 metres at 11.6 g/t from 210 metres; and
- 8 metres at 2.5 g/t from 190 metres, including 2 metres at 7.8 g/t from 194 metres.
Several high-grade intersections remain outside the current resource, awaiting close-spaced drilling.
Aggressive exploration planned
Multiple drill-ready targets are set to be tested for repeat lodes through the RC next drill program due to start this week.
Alto recently secured commitments to raise $5.5 million in a placement and intends to aggressively advance exploration along the entire 3-kilometre Lords’ Corridor and drill test a number of regional targets within the +800-square-kilometre Sandstone Gold Project.
Bowles said: “It is a really exciting time for Alto with our next drilling program about to commence to follow-up on these latest results.
“The 30,000 metres of drilling we have planned is the biggest drill program Alto has undertaken in a number of years and we are keenly anticipating ongoing results.”
Shares have been as much as 9% higher intra-day to 9.4 cents.