Drilling Confirms Down Plunge Continuity Of High-Grade Mineralisation At Sandstone Project
Alto Metals Limited (ASX: AME) has obtained positive initial assay results from its maiden diamond drilling programme and ongoing major RC drilling programme at its 100% owned, ~900sq. km Sandstone Gold Project, which covers the majority of the Sandstone Greenstone Belt, in Western Australia.
The Sandstone Gold Project currently hosts a JORC 2012 Mineral Resource Estimate of 6.2Mt @ 1.7 g/t gold for 331,000oz. The ongoing drilling program is focused on growing these resources and targeting further high-grade strike and depth extensions of existing mineralisation.
A total of 13 diamond holes of the company’s maiden 3,000m (17 hole) diamond drill programme have been drilled so far, with results received for the first of the seven holes drilled at Lord Nelson returning:
o 36m @ 2.0 g/t gold from 203m, incl.
o 3.6m @ 10.5 g/t gold from 232.8m, incl.
o 0.6m @ 23.1 g/t gold from 234m (SDD001)
Managing Director, Matthew Bowles, said hole SDD001 is less than 200m vertical depth and was drilled 30m south and down plunge of SRC176 which returned 16m @ 5.2 g/t gold from 240m confirms the continuity of the high-grade mineralisation of the Lord Nelson footwall lode remains open down plunge to the south.
Assays are currently pending for a further 12 diamond holes (six at Lord Nelson, two at Lord Henry and four completed at Indomitable). Diamond drilling of four planned holes at Vanguard is currently underway.
“These are great results, demonstrating the continuity of high-grade mineralisation outside the current resources at Lord Nelson and Lord Henry remains open down plunge. Our ongoing exploration success continues to highlight that the Sandstone Gold Project is still very much underexplored,” Mr Bowles said.
“Exploration activities at Sandstone are continuing with two RC and one diamond rig on site. Ongoing RC drilling is focusing on growing the current mineral resource, as well as targeting new areas of strike extension to grow the overall resource at the Sandstone Gold Project.
“We are still experiencing delays in assay turn-around time, as are many of our peers given the level of exploration, however we look forward to receiving further results from our ongoing drill program in the coming weeks.
“One of the key takeaways for investors from today’s announcement is that we already have a number of assays results, that sit outside the current resource, plus core from 12 diamond holes and samples from 88 RC holes in the laboratory awaiting processing, and the rigs are still turning.”
For further information please visit: https://altometals.com.au/