Alta Zinc Limited (ASX: AZI) has announced a ‘major’ mineral resource upgrade for its Gorno zinc-lead-silver project in northern Italy, with a 2.4x increase in total mineral resource tonnage, a 40% increase in zinc grade, and a more-than-3.3x increase in contained zinc compared to its previous (2017) MRE.
Updated Gorno MRE
Gorno’s total resource now stand at 7.79 million tonnes grading 6.8% zinc, 1.8% lead, and 32 g/t silver. More than 60% of the amount of zinc metal contained is in the indicated category.
Gorno’s mineralisation remains open in all directions outside of the MRE, with numerous step-out targets remaining to be drill tested from current underground development.
Gorno project
The Gorno zinc-lead-silver project is located in the northern Italian province of Bergamo. In May 2017, Jorvik Resources had reported a maiden MRE for the project.
The recent exploration program of 85 diamond core holes (totalling 6,231m) and 34 channel samples was completed from underground workings in 15 months, adding an additional 4.5Mt (> 1% Zn COG) of mineral resources. This equates to 721 tonnes per metre drilled and almost 4x the tonnage yield of the 2017 MRE (188t/m).
The company is anticipating that the updated MRE will significantly underpin future mining and metallurgical studies, fast-tracking the feasibility study and development of the Gorno Project as one of Europe’s premier zinc-lead-silver deposits.
Updates and next steps
Drilling is ongoing, focusing on mineralisation outside of the updated MRE. Results are expected to be released as assays become available.
The company also plans to undertake further drilling for geotechnical purposes, to collect representative material for ongoing metallurgical test work, and potentially to add to the MRE.
“The outcome is a more than three-fold increase in the amount of zinc metal and a more than 40% increase in the global metal grades”
Management comments
Alta Zinc Managing Director Geraint Harris said: “Alta shareholders have now been rewarded by this very positive Mineral Resource upgrade, based on results from the recent drilling programs in the new areas of Pian Bracca and Ponente. The outcome is a more than three-fold increase in the amount of zinc metal and a more than 40% increase in the global metal grades contained in the Mineral Resource estimate for the Gorno deposit. This is partly due to an increase in the thicker and higher-grade mineralisation, found in the Pian Bracca corridor and at Ponente.
We have been able to achieve this result with only 15 months of drilling by identifying outstanding drill targets, of which there still remains an abundance, close to or within the network of existing underground workings which offer cost effective and efficient year-round drilling positions with zero environmental impact.”
Images: Alta Zinc Limited