Alto Metals (ASX:AME) has confirmed extensions of ‘high-grade’ gold mineralisation following a maiden reverse circulation (RC) drilling program at the historic Oroya Mine, located within its wholly-owned Sandstone Gold Project in Western Australia.
The results, generated by 13 RC holes for about 2,000m of drilling, have returned ‘high-grade’ gold mineralisation both above and below the historical workings and along strike, with grades reaching 37g/t gold (Au).
Alto metals notes the wide-spaced step out drilling has also validated the geological model targeting extensions of the Sandstone reef, and has confirmed remnant mineralisation present in unmined areas of old workings.
“results have successfully confirmed extensions of the reef, both to the northwest beyond the north end of the pit, and down dip to the west”
Adding on, the company reports mineralisation has been confirmed to extend northwest of the open-pit for over 200m, along with down-dip extensions of the Main Reef.
Key results include hole SRC894 with 3m @ 13.8g/t gold (Au) from 65m, including 1m @ 37.1g/t Au from 66m (Main Reef); hole SRC899 with 3m @ 2.8g/t Au from 104m including 1m @ 7.6g/t Au from 104m (NW extension); and hole 6m @ 1.3g/t Au from 41m, including 1m @ 5.5g/t Au from 41m (Juno).
Follow up drilling is planned to target further ‘high-grade’ gold mineralisation.
Addressing the results, Alto Metals Managing Director Matthew Bowles said: “This is the first time the historic Oroya Mine has seen any drilling in over 15 years and we are pleased the results have successfully confirmed extensions of the reef, both to the northwest beyond the north end of the pit, and down dip to the west, validating our targeting model.
We are excited to see gold mineralisation in a number of holes from this initial wide-spaced drill program, demonstrating the reef remains mineralised and we look forward to commencing a follow up drill program in the coming weeks.
While our focus firmly remains on growing our current 635,000 ounce shallow gold resource, with an updated mineral resource coming this quarter, Oroya is an outstanding high-grade gold target within our Sandstone Gold Project.”
The company also notes this drilling program represents the first time Oroya has had any drilling in over 15 years, and has demonstrated potential for the strike extension of mineralisation at Oroya South to be extended.
In addition, it is reported an update to the current open-pitable 635,000 ounce (oz) @ 1.6g/t gold resource for the project is on track for delivery this March quarter.
Alto Metals is an ASX-listed gold exploration company that currently holds a ‘significant’ land position of over 900km-square in the Archaean Sandstone Goldfield about 600km north of Perth in Western Australia’s East Murchison Mineral Field. The company’s Sandstone project currently boasts a JORC 2012 Mineral Resource Estimate (MRE) of 12.4 million tonnes (Mt) @ 1.6g/t Au for 635,000oz of gold.
Historical production from the Sandstone Goldfield is about 1.3 million ounces gold, with half of this being mined in the period 1894-1914, and the remainder being mined by Herald Resources and Troy Resources (ASX:TRY) from shallow open pits at Oroy, Bull Oak, Bulchina, Lord Nelson, and Lord Henry in the period 1994-2010.
Images: Alto Metals Ltd
