Alto Metals has been granted a pivotal mining lease at its 100 per cent-owned Sandstone gold project in Western Australia, within a mineralised corridor containing the Lords Camp resource of 400,000 ounces of gold at 1.6 grams per tonne.
Management says the lease is contiguous with its other three existing leases and has de-risked the project and provided mining development options. It sits between its existing mining leases that cover its Lord Nelson and Lord Henry leases.
Alto’s Sandstone deposit stands at an impressive total indicated and inferred open-pit gold resource of 832,000 ounces at 1.5g/t from 17.6 million tonnes, with 90 per cent recoverable within the top 150m. The total unconstrained mineral resource estimate boasts a sizeable 23.5 million tonnes at 1.4g/t for 1.05 million ounces.
We are pleased to announce that our application for a new Mining Lease over the Lords Corridor has been granted. Importantly, this further de-risks the Sandstone Gold Project and complements our strategy to maintain optionality for future development scenarios. Alto Metals managing director Matthew Bowles
The company has listed current and future exploration programs to include diamond drilling at its 3km-long Indomitable gold camp and is finalising an application for co-funding from the WA State Government under its Exploration Incentive Scheme.
Alto’s historic Bull Oak Mine is currently the subject of a pending prospectivity review aimed at identifying further gold resource potential. Bull Oak, Indomitable and Vanguard will be targeted in the coming weeks, following the review, with a 5000m to 10,000m extensional and resource reverse-circulation (RC) drilling program.
In this year’s final quarter, management is also planning a maiden RC program to try and uncover high-grade gold reef-style mineralisation at the Hacks West area and at other regional targets. Appraisal geological work is focused on potential lithium-bearing pegmatites along the Edale Shear on the eastern side of the Sandstone greenstone belt, with low-cost field mapping and soil sampling being conducted on the untested rocks.
Alto’s strategic approach of adding gold resources through clever lease acquisitions and targeted drilling puts it in a good place to ultimately reap dividends as it moves inexorably towards joining the elite band of other gold producers in what bis widely regarded as a tier-one gold province.
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