Alto Metals awaits gold assays from extensive drilling and plans to step up work in 2021

Alto Metals Ltd (ASX:AME) has completed drilling activities for 2020 with a total of 36 holes and 6,084 metres drilled at its Sandstone Gold Project in Western Australia and expects assays to be reported next quarter. Drilling targeted potential repeat high-grade gold lodes identified along the Lords corridor, new extensions to oxide and deeper primary mineralisation at the recently discovered Orion lode and priority targets at Vanguard. The company plans to restart drilling in 2021 in late January with a second rig expected to arrive on or around that time. This will enable it to accelerate completion of the 30,000 metres planned for Lord Nelson, Lord Henry, the Lords corridor and priority regional targets. Indications of larger system Alto’s managing director Matthew Bowles said: “Exploration results this year have already confirmed high-grade gold mineralisation, beneath the Lord Nelson open pit and the discovery of the Orion lode to the south and have given indications of the presence of a much larger mineralised gold system. “Whilst drilling has successfully concluded for the year, we have 36 RC holes for a total of 6,084 metres of drilling pending assay results, which we anticipate will be announced early in the March 2021 quarter. “Drilling is planned to recommence in late January to complete the current 30,000-metre program focused on testing for potential repeat lodes along the Lords corridor as well as a number of exciting regional targets within our 800 square kilometres of ground that covers the majority of the Sandstone Greenstone Belt.” “Successful year” Bowles said: “I would like to thank our geological team, consultants and drilling contractors who helped us achieve a successful year of exploration, in difficult circumstances. “With a strong cash balance and a major drill program underway, Alto is in an excellent position as we head into what we expect to be an exciting year ahead.” 3D-IP survey completed A three-dimensional induced polarisation (3D-IP) survey was recently completed covering 4 square kilometres of the Lords corridor, targeting potential anomalies at depth and results are pending. Reverse circulation (RC) drill results from Orion to date show the presence of high-grade gold mineralisation within a much broader mineralised envelope. The consistency of these results in the oxide, transitional and primary zone suggests that the oxide and transitional zones at the Orion Lode are hypogene (not supergene) in nature, highlighting the significant potential immediately below the weathering profile (30-70 metres below the surface). Focus on new discoveries Alto’s strategy for the Sandstone Gold Project is to focus on exploration to make further new discoveries and increase the gold resource position by testing the strike and depth extensions of previously mined and unmined oxide deposits. Alto’s Sandstone Gold Project covers more than 800 square kilometres and comprises the majority of the highly prospective and under-explored Sandstone Greenstone Belt. In early November Alto started a 30,000-metre drilling campaign to test for Lord Nelson repeat targets along the 3-kilometre Lords corridor, depth extensions of primary mineralisation below existing resources and multiple other regional targets.