Alto Metals Ltd’s (ASX:AME) 3D IP survey has identified a number of significant anomalies in the Lords Corridor, up to 400 metres below surface and reverse circulation (RC) drilling has confirmed an alteration halo of gold mineralisation up to 32 metres thick from 200 metres vertical depth.
This alteration halo is close to a strong chargeable anomaly identified from the recent IP survey, indicating the potential for further significant gold mineralisation at depth.
Two of the strongest anomalies are beneath the Lord Henry pit and 800 metres m south of the Orion Lode.
These IP anomalies closely correlate with Alto’s underlying geological model and depth extensions of the known primary gold mineralisation to the shallow-mined Lord Nelson and Lord Henry open pits.
Compelling targets for drill program
Alto Metals managing director Matthew Bowles said: “Alto’s IP survey has now identified a number of strong chargeability anomalies along the +3 kilometre Lords Corridor.
“This area has not been previously drilled at depth and potentially indicates the larger source of mineralisation that we are targeting.
“What is notable is that high anomalous values of chargeability correlate to our geological model and the margins of the known high-grade shoots at Lord Nelson and Lord Henry.
“This makes the anomalies particularly compelling targets for the upcoming drill program.
“Importantly, the first assay results from drilling 800 metres south of the Orion Lode have confirmed a 32 metres thick halo of gold mineralisation at the eastern edge of one of the IP anomalies.
Very exciting start to the year
“We are awaiting the final batch of assays from the drilling completed in December and we expect to recommence our major RC drill program in early February, with a second RC rig arriving a few weeks later to accelerate drilling our priority targets.
“As well as drill testing these new targets identified from the IP as a priority, we will also be testing the extensions to known high-grade shoots at Lord Henry, Lord Nelson and the Orion Lode.
“With a strong cash balance and a major drill program about to recommence, it is a very exciting start to the year for Alto shareholders.
Lords Corridor
Assay results from the first 11 holes (2,191 metres) of the total 36 hole (6,190 metres) RC drilling program have been received.
The drilling was completed on a wide-spaced minimum 80 metres by 80 metres grid, to an average of 200 metres vertical depth in December 2020, as the first phase of the company’s planned 30,000 metres drill program for its 100%-owned, more than 800 square kilometres Sandstone Gold Project.
These latest results are an encouraging indication of the depth potential of the Lords Corridor.
Assay results received to date, include:
- 4 metres at 3.1 g/t gold from 68 metres;
- 32 metres at 0.5 g/t from 220 metres – New zone +800 metres south of the Orion Lode;
- 16 metres at 0.4 g/t from 144 metres; and
- 52 metres at 0.3 g/t from 48 metres.
Assays remain pending for a further 21 holes for 3,297 metres along the Lords Corridor and four holes for 602 metres from Vanguard Camp.
Upcoming drilling and exploration
Drilling is planned to re-commence in early February 2021 to complete the balance of the planned 30,000 metres program and will include:
- Priority targets delineated by the 3D IP survey;
- Depth extensions of primary high-grade gold mineralisation beneath the Lord Nelson pit, the Orion Lode and the Lord Henry pit;
- Exploration and follow up drilling to test the additional near-term targets along the +3 kilometres Lords corridor; and
- Exploration drilling at regional targets including Vanguard and Chance.
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 priority targets within the Lords Corridor.