Alto Metals (ASX:AME) is planning follow-up drilling at the Indomitable Camp within its Sandstone Gold Project in Western Australia following the results from a recent drill program.
The $35.71 million market capitalisation company says the follow-up program will be conducted for structural and lithological purposes, based on the increased geological interpretation and updated target model from this most recent second phase drill program.
Recent assay results from the second phase of drilling have continued to highlight ‘strong’ gold mineralisation in the area, according to Alto.
Assays from the remaining 4 holes from the drilling work have intersected further broad zones of shallow oxide gold mineralisation, including drillhole SRC961 with 14m @ 2.6g/t Au from 61m, including 2m @ 10.6g/t Au from 61m and including 1m @ 18.8g/t Au from 62m; and drillhole SRC962 with 11m @ 3.4g/t Au from 57m, including 2m @ 12.6g/t Au from 60m and 1m @ 19.8g/t Au from 60m.
The company says these results will be incorporated into the targeting model for planned diamond drilling at the Indomitable camp.
In addition, Alto believes the extent of shallow oxide mineralisation at Indomitable is an indication of a potentially much ‘larger’ gold system at depth.
Commenting on the drill results, Alto Metals Managing Director Matthew Bowles says: “Importantly, during this overall phase of drilling, gold was intersected in multiple shallowly dipping interpreted thrust faults in fresh rock at depth, with higher grades typically observed where these faults intersect the steeper plunging interpreted structures.
“Importantly, during this overall phase of drilling, gold was intersected in multiple shallowly dipping interpreted thrust faults in fresh rock at depth“
These results are now being incorporated into our targeting model for follow-up drilling. In parallel, we are continuing our review of the historic Bull Oak Mine following the maiden resource estimate released earlier this year and the potential we see for further resource growth.”
Alto also plans to begin a phased 5,000m to 10,000m of extensional and resource reverse circulation (RC) drilling, contemplated for Bull Oak, Indomitable, and Vanguard, in the coming weeks.
Low-cost lithium exploration work is continuing at the Sandstone Project, where a number of prospective targets are already uncovered.
Alto Metals is an ASX-listed gold exploration company that wholly owns the Sandstone Gold Project in the east Murchison of Western Australia. The Sandstone Project covers 740km-square.
As of 30 June 2023, the company had $1.1 million cash at hand, according to its latest quarterly report. However, the company completed a $5 million placement and raised an additional $420,000 via a drill-for-equity arrangement subsequent to the end of the June quarter.
Write to Aaliyah Rogan at Mining.com.au
Images: Alto Metals
