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Alto Metals set to recommence drilling in February following robust exploration activities initiated in the December quarter

Snapshot

During the quarter, the company started an extensive 30,000 metres drilling campaign at the Sandstone Gold Project in Western Australia to test for further Lord Nelson repeats.

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Quick facts: Alto Metals Ltd

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ASX:AME
Market: ASX
Market Cap: $31.1 m
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Alto Metals Ltd (ASX:AME) is looking head a robust year building over the solid December quarter, during which the company kicked off a major drilling program that sets the foundation for another solid year of exploration.

During the December quarter of 2020, the company started an extensive 30,000 metres drilling campaign at the Sandstone Gold Project in Western Australia to test for further Lord Nelson repeats, similar to the recent Orion Lode discovery, along the Lords Corridor.

The company has spent around $ 826,000 on exploration activities during the quarter.

Setting the foundations for another solid year of exploration in 2021

Alto managing director Matthew Bowles said: This was another solid quarter for us as we kicked off a major drilling program, setting the foundations for another solid year of exploration in 2021.

“The discovery of the Orion Lode and deeper high-grade primary mineralisation below Lord Nelson were some of the exploration highlights for shareholders in 2020.

“We are excited about the year ahead and are confident that the deeper drilling of the Lords corridor, along with the 3DIP survey, will start to reveal the significant potential of this system.

“We are also looking forward to drilling some of our other outstanding regional targets within our 800 square kilometres landholding.”

Upcoming planned exploration activities

The company is planning to restart drilling in early February 2021 to complete the balance of the currently planned 30,000 metres and will include:

  • Depth extensions of primary high-grade gold mineralisation beneath the Lord Nelson pit, the Orion Lode (C1 and C2 targets) and the Lord Henry pit (C6 target);
  • Exploration and follow up drilling to test the additional near-term targets (C2-C5 targets) along the three kilometres Lords corridor;
  • Exploration drilling at regional targets including Vanguard and Chance; and
  • Multiple other targets within the 800 square kilometres Sandstone Gold Project.

A second RC rig is expected to arrive in mid-February 2021 to accelerate the drilling of targets along the Lords corridor, before being moved to test priority regional targets, including Vanguard and Chance.

The first RC rig will remain focused on testing the plunge extensions of existing mineralisation at C1, C2 and C5 and new targets along the corridor.

Exploration activities in the December quarter

In early November Alto started a 30,000-metre drilling campaign to test for Lord Nelson repeat targets along the 3-kilometre Lords corridor, depth extensions of primary mineralisation below existing resources and multiple other regional targets.

The Orion Lode is considered to be a repeat lode of the Lord Nelson deposit with the majority of the mineralisation defined to date, in the oxide and transitional zone.

This geological model further predicts the significant potential for multiple Lord Nelson style repeat lodes, coincident with splays (Trafalgar splay) and cross-cutting structures, to exist along the three kilometres Lords Corridor.

The program also plans to test depth extensions of primary mineralisation below and down plunge of the existing resources at Lord Nelson and Lord Henry and other regional targets, including Vanguard and Chance.

The RC drilling program has successfully concluded for CY2020.

Drilling on a wide-spaced step out to an average of 200 metres vertical depth, up to one kilometre south of the Orion Lode with a total of 36 holes drilled for a total of 6,084 metres completed.

At Lords Corridor the following was completed: 

  • 10 holes at C1 and C2 Targets for a total for 1,994 metres;
  • 9 holes at C3 North for 1,187 metres and 7 holes at C3 Mid Target for 1,413 metres; and
  • 6 holes at C5 Horatio Target for 888 metres.

Vanguard Camp

Activities at Vanguard Camp included:

• 4 holes at Vanguard Camp for 602 metres.

These initial holes were drilled earlier than planned due to limited access to the Lords corridor during the IP survey.

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