ASX-listed gold explorer Alto Metals (ASX:AME) reports its long-term Non-Executive Director Dr Jingbin Wang has announced his intention to retire from the board of directors following the close of the company’s upcoming Annual General Meeting on 30 November this year.
The company has today (28 November) thanked Dr Wang for his time and support over his years of service and advises that he will be formally farewelled at its upcoming AGM.
Alto Metals is an advanced gold explorer that is listed on the ASX and boasts a ‘significant’ land position in Western Australia’s Archaean Sandstone Goldfield, about 600km north of the state’s capital city of Perth.
The company’s Sandstone Gold Project represents an advanced exploration project which covers a total land area of 740km-square and comprises both brown-field and green-field exploration portfolio. The project currently boasts an indicated and inferred JORC 2012 Mineral Resource Estimate (MRE) of 12.4Mt at 1.6g/t Au for 635,000oz of Au.
In addition, historical production of the project tenement has generated about 1.3 million ounces of gold, with about half of this total amount being mined in the period 1894-1914 and the remainder being mined by Perth-based Au mining and mineral exploration company Herald Resources and junior gold producer Troy Resources (ASX:TRY).
The gold mineralisation is reported to have been mined by these other gold explorers from shallow open pits at the Oroya, Bull Oak, Bulchina, Lord Nelson and Lord Henry deposits between 1994-2010.
The company’s immediate focus is to rapidly expand the current mineral resources with further exploration, including step out and infill drilling. These future drilling campaigns will reportedly target shallow Au deposits (such as Vanguard, Indomitable Camps, Havilah and Ladybird) as well as the extension and primary zone discoveries in the vicinity of previously partial-minded deposits.
Images: Alto Metals Ltd
