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Extensional drilling continues to highlight the continuity of thick gold mineralisation below the shallow Lord Nelson pit
Alto Metals Limited ( ASX: AME) (Alto or the Company) is pleased to report further high-grade gold assay results from RC drilling below the Lord Nelson pit, as part of the ongoing major RC drilling program at its 100% owned, ~900km2 Sandstone Gold Project, in Western Australia.
Highlights
- Latest assays from the ongoing major drilling program at the Company’s flagship Sandstone Gold Project highlight further thick, high-grade gold mineralisation at the Lord Nelson deposit, hosted within the +3km Lords granodiorite, including a stand-out intercept of 67m @ 2.3 g/t gold from 172m (SRC 576).
- Significant new results received from extensional RC drilling below the Lord Nelson pit include:
- 67m @ 2.3 g/t gold from 172m, incl. 6m @ 5.4 g/t gold from 179m (SRC 576)
- 19m @ 1.5 g/t gold from 185m, inc. 1m @ 17.8 g/t gold from 198m (SRC 582)
- 12m @ 1.4 g/t gold from 50m, incl. 1m @ 10.2 g/t gold from 59m; and 11m @ 1.0 g/t gold from 84m (SRC 580)
- 11m @ 1.3 g/t gold from 156m, and 6m @ 3.0 g/t gold from 215m (SRC 579)
- SRC576 followed up on the recently announced SRC432 which returned 45m @ 3.2 g/t gold from 161m and has extended thick high-grade mineralisation a further 20m down dip. Another RC hole, collared 20m west of SRC576 has been completed and results are pending.
- Assays are currently pending for a further 5,025m of RC drilling, including at the Juno Lode located 600m south of Lord Nelson, targeting dip and strike extensions of known gold mineralisation including SRC443, which recently returned 13m @ 5.1g/t gold from 162m.
- Interpretation of the recently completed gravity survey over the Lord Corridor is almost complete, which will assist in targeting the ‘damage zone’ of the Lords granodiorite and the high-grade mineralisation along the ultramafic footwall at depth.
- Drilling is now underway at the Indomitable Camp, within the +20km NW/SE Indomitable/Vanguard/Havilah Trend, as part of the updated mineral resource planned for the second half of this year.
- Alto’s major 60,000m drilling program planned for 2022, is targeting both resource growth and exploration, focusing on existing resources and a number of advanced regional prospects.
- The current JORC 2012 Mineral Resource Estimate at the Sandstone Gold Project is 12.4Mt @ 1.6 g/t gold for 635,000oz. These resources are shallow, defined to a depth of less than 200m and remain open.
Alto’s Managing Director, Matthew Bowles said:
These are excellent initial results from our ongoing major drilling campaign and, on the back of the recent update of our open pit gold resource to 635,000oz, once again demonstrates the significant growth potential we see at the Lords Corridor and our entire Sandstone Gold Project.
A particular stand-out from these latest results is SRC576 returning 67m @ 2.3 g/t gold, highlighting the continuity of thick high-grade mineralisation within the current pit-shell at Lord Nelson.
A number of assays are currently pending, including from follow up drilling at Juno which are eagerly anticipated, as they targeted the up and down dip extensions of the new lode. We will then be then looking to test deeper primary targets within the Lords Corridor. In the meantime, our next phase of drilling is underway at Indomitable Camp, the first of our many near-mine regional targets, as we continue to focus on resource growth and exploration.
We see this a great start to another exciting year ahead and look forward to updating shareholders on further results from our ongoing drill program, over the coming weeks and months ahead.
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This article includes content from European Lithium Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
AME:AU
High grade Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
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This article includes content from Rox Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
