Much more to Sandstone gold story than a couple of Lords

Alto Metals’ recent exploration efforts at its Sandstone Gold Project in Western Australia have focused primarily on the 3km-long corridor between the historic Lord Henry and Lord Nelson mines. 

And with good reason too, given the obvious opportunity for Alto (ASX: AME) to expand on existing gold mineralisation through deeper drilling and to identify repeat gold lodes, similar to the Lord Nelson deposit.

But assay results from drilling in a different part of the project reported on Thursday have provided a strong reminder of the potential within the broader 900km2-plus Sandstone tenement package.

Hole SRC286 drilled at the Vanguard camp 8km north-west of the Lords Corridor intersected 12m @ 22.5 g/t gold from 40m including 4m @ 60.6 g/t Au from 40m with visible gold observed in RC chips.

Other shallow results from the wide-spaced (80m by 80m) drilling included 8m @ 3.1 g/t Au from 8m including 4m @ 5.8 g/t Au from 8m; 8m @ 2.8 g/t Au from 44m including 4m @5.3 g/t Au from 44m and 4m @ 6.8 g/t Au from 124m.

“These are exceptional results,” Alto managing director Matthew Bowles said.

“The visible gold from SRC286, assaying 4m at 60.6 g/t gold, is the highest grade ever reported from Vanguard. It is shallow at less than 40 metres from surface and demonstrates the potential for Vanguard to host more exceptionally high-grade gold mineralisation.”

Sandstone
Caption: Visible gold in pyrite and quartz veins in RC chips from Vanguard

SRC286 was drilled 240m along strike from the main body of mineralisation at Vanguard to the north-west. Assays are pending for two lines of drilling between SRC286 and the main body of mineralisation.

Following these latest results, mineralisation at the Vanguard and Vanguard North trends is defined over a combined 2,000m and remains open along strike and down dip.

“We can see Vanguard continuing to grow and plan to systematically test both the Vanguard and Vanguard North trends, along with the overall 20km corridor of differentiated dolerite that hosts the Vanguard, Havilah and Indomitable deposits,” Bowles said.

“Coming on the back of the ongoing success we are having at the Lords Corridor, where drilling is ongoing, these outstanding results from Vanguard validate our approach and view of a much larger gold system at Sandstone.”

Alto is awaiting assays for 13 holes (2,600m+) from Vanguard and 30 holes (6,300m+) from the Lords Corridor, while RC drilling is continuing along the Lords Corridor.

A rig has also been secured for a maiden 3,000m diamond drilling program focusing on the Lords Corridor, Vanguard and Indomitable that is expected to start next week.

Established mid-west goldminer Westgold Resources emerged with 8.59% of Alto at the start of April after picking up the stake held by Middle Island Resources and purchasing more shares on market.

During 2020, Alto was the subject of unsolicited takeover offers from Chinese group Goldsea and Habrok Mining, while Middle Island made an unsuccessful script bid for the company in 2019.

 

This story was developed in collaboration with Alto Metals, a Stockhead advertiser at the time of publishing.

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Much more to Sandstone gold story than a couple of Lords appeared first on Stockhead.

Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.

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