Alto Metals Limited (ASX: AME) has defined a number of significant IP anomalies in the Lords Corridor target at the Sandstone Gold Project in Western Australia.
These new IP targets, defined from the results of a recently completed three-dimensional induced polarisation (3D IP) survey, are based on high chargeability zones, correlate with Alto’s geological targeting model and are in close proximity to, or along strike from, known high-grade gold shoots.
Meanwhile, initial assay results from the first 11 holes (2,191m) of the total 36 hole (6,190m) RC drilling programme have highlighting a large mineralised halo up to 32m thick.
The drilling was completed on a wide-spaced minimum 80m by 80m grid, to an average of 200m vertical depth in December 2020, as the first phase of the company’s planned 30,000m drill programme at the 100% owned, +800 sq. km Sandstone Gold Project.
Managing Director, Matthew Bowles, said that in conjunction with the IP anomalies, the assay results are considered a strong indication of the presence of a large mineralised system.
Alto’s IP survey has now identified a number of strong chargeability anomalies along the +3 kilometre Lords Corridor. This area has not been previously drilled at depth and potentially indicates the larger source of mineralisation that we are targeting,” Mr Bowles said.
“What is notable is that high anomalous values of chargeability correlate to our geological model and the margins of the known high-grade shoots at Lord Nelson and Lord Henry. This makes the anomalies particularly compelling targets for the upcoming drill program.
“Importantly, the first assay results from drilling 800m south of the Orion Lode have confirmed a 32m thick halo of gold mineralisation at the eastern edge of one of the IP anomalies.
“We are awaiting the final batch of assays from the drilling completed in December and we expect to recommence our major RC drill program in early February, with a second RC rig arriving a few weeks later to accelerate drilling our priority targets.
“As well as drill testing these new targets identified from the IP as a priority, we will also be testing the extensions to known high-grade shoots at Lord Henry, Lord Nelson and the Orion Lode.
“With a strong cash balance and a major drill programme about to recommence, it is a very exciting start to the year for Alto shareholders.”
Broad spaced gold mineralisation has been intersected in a number of holes including SRC218, which intersected a 32m halo of gold mineralisation.
This alteration halo is close to a strong chargeable anomaly identified from the recent IP survey, indicating the potential for further significant gold mineralisation at depth.
Assay results received to date, include:
- 4m @ 3.1g/t goldfrom 68m (SRC218) and
- 32m @ 0.5 g/t goldfrom 220m – New zone +800m south of the Orion Lode
- 16m @ 0.4g/t goldfrom 144m (SRC224)
- 52m @ 0.3g/t gold from 48m (SRC227).