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Corporate Spotlight

Alto Metals Limited (AME, formerly Enterprise Uranium Limited) is a mining company focused exploration of a number of gold and uranium tenements in Western Australia. AME is focused on Sandstone gold project and activities on the gold sector.
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VANGUARD

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High Grade Gold Assays in 1m Samples from Vanguard RC hole SRC114, Sandstone, WA 

ASX Announcement 5 December 2018


  • One metre fire assay results from RC hole SRC114 confirm high grade at Vanguard 
  • 40 samples of 1m length returned the following intervals: 
    • SRC0114 : 40m @ 3.6g/t Au from 61m 
    • incl. : 5m @ 8.7g/t Au from 61m 
    • and : 19m @ 4.0g/t Au from 69m 
    • and : 7m @ 3.0g/t Au from 94m 
  • Individual 1m assays include: 1m from 63m @ 19.2g/t Au, 1m from 71m @ 15.1g/t Au, and 1m from 79m @ 11.9g/t Au.


Alto Metals Limited (ASX: AME) (“Alto”, “the Company”) is pleased to advise that high grade 1m assay results have been returned from Vanguard reverse circulation (RC) drill hole SRC114 drilled at Vanguard in September to confirm the geological model and provide samples for preliminary metallurgical testwork.


VANGUARD REVERSE CIRCULATION DRILLING 

RC hole SRC114 (total 102m) was drilled to provide samples for preliminary metallurgical testwork. The 4m composite assay results and metallurgical test results (93-94% recovery) were reported on 15 October 2018.


The +1.0g/t Au fire assay results for the 1m re-split samples in SRC114 are shown in Table 1 below and in Figures 1 - 3. All +0.5g/t Au assay for 1m resplit samples are included in Table 3. 

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40m @ 3.5g/t Au

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40m @ 3.5g/t Au Confirmatory Intersection from 60m Depth at Vanguard, Sandstone Gold Project, WA

ASX Announcement 15 October 2018

HIGHLIGHTS 

  • RC drilling confirms robust geological models at Vanguard and Tiger Moth. Intercepts into high grade zones include: 
    • SRC114 (Vanguard) 40m @ 3.5 g/t Au from 60m 
    • SRC115 (Tiger Moth) 8m @ 4.1 g/t Au from 52m 
  • Preliminary metallurgical testwork shows recovery of +92% gold from both oxide and primary gold zones 
  • Assay results from reconnaissance aircore (AC) drilling at Bulchina, Sandstone North and Vanguard Camp indicates potential for further shallow oxide gold mineralisation 
  • Step-out RC drilling at Indomitable Camp and Vanguard Camp deposits planned to test mineralised structures down dip/down plunge (outside 2018 JORC [2012] Mineral Resources) 
  • Maiden mineral resource estimation [JORC 2012] planned for Ladybird, Havilah and Sandstone North

Alto Metals Limited (ASX: AME) (“Alto”, “the Company”) is pleased to advise that assay results from 2 RC holes drilled in September at Vanguard and Tiger Moth to confirm the geological models and provide samples for preliminary metallurgical testwork have returned high recoveries and better than predicted grades.

Assay results received from reconnaissance aircore drilling at Bulchina, Sandstone North and Vanguard Camp indicates that these mineralised systems are still open, and further drilling is required.

Commenting on these results, Alto’s Managing Director Dermot Ryan said:

“Alto’s recently published Mineral Resource estimate [JORC 2012] for the Indomitable and Vanguard Camps was the result of applying a systematic exploration approach. This process resulted in the selection and successful testing of a number of litho-structural gold targets. 

The next stage is to step-out and drill test the down dip/down plunge extensions of these newly discovered mineralised structures and convert gold mineralisation into mineral resource.”

REVERSE CIRCULATION DRILLING 

During September, 4 shallow RC holes (total 356m) were drilled at Vanguard, Tiger Moth and Indomitable to provide samples for preliminary metallurgical testwork.

At Vanguard and Tiger Moth, RC holes SRC114 and SRC115 were drilled to 102m. At Indomitable, SRC116 and SRC117 were drilled but were abandoned prior to reaching the mineralised interval due to difficult drilling conditions. As a result, samples for preliminary metallurgical testwork at Indomitable were obtained from RC cuttings from drill hole SRC086 drilled in February 2018 by Alto. Assay results for SRC086 were previously released to the ASX on 20 March 2018 (refer ASX release 20 March 2018).

The +1.0g/t Au fire assay results for the 4m composite samples are shown in Figures 1 and 2 and in Table 1 below. All 4m composite samples +0.5g/t Au results are included in Appendix 1.

At Vanguard and Tiger Moth, the deeper and higher-grade gold intersections down plunge and external to the 2018 $2,000/oz Whittle pit shells were not included in the 2018 Mineral Resource estimate and require follow up RC and diamond core drilling with a view to enlarging the pits.

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PRESENTATION

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INDOMITABLE AND VANGUARD

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MAIDEN GOLD RESOURCE AT INDOMITABLE AND VANGUARD CAMPS, SANDSTONE WA

ASX Announcement 25 September 2018

HIGHLIGHTS 

  • Maiden JORC 2012 Inferred Mineral Resource estimate: 2.58Mt @ 1.49 g/t Au for 124,000 ounces for Indomitable & Vanguard Camp deposits at Sandstone Gold Project 
  • The resource estimate encompasses shallow open pitable material in Vanguard & Vanguard North deposits in the “Vanguard Gold Camp” and Indomitable, Indomitable North, Piper & Tiger Moth in the “Indomitable Gold Camp.” 
  • With exception of Piper (laterite only), all other deposits remain open at depth, with potential to extend the mineralisation down‐plunge, and to discover repeat lodes. 
  • Together with existing deposits at Lord Henry and Lord Nelson, Alto’s total JORC 2012 mineral resource inventory is 1.2Mt @ 1.6g/t Au for 65,000oz (Indicated) and 3.67Mt @ 1.66g/t Au for 196,000oz (Inferred).

Alto Metals Limited (ASX: AME, “Alto” or “the Company”) is pleased to report the completion of a Mineral Resource Estimate for the Indomitable and Vanguard Camp deposits at Alto’s 100% owned Sandstone Gold Project in compliance with the JORC 2012 reporting standard. The resources consist of six individual deposits (Figure 1) which have undergone extensive work and interpretation by Alto’s geologists and resource consultant Dr Spero Carras of Carras Mining Pty Ltd.

Commenting on this maiden Mineral Resource for the Indomitable and Vanguard Camp deposits, Alto’s Managing Director Dermot Ryan said:

“These shallow gold deposits in the Vanguard and Indomitable Camps all have a gold rich lateritic cap overlying the oxide gold mineralisation, most are “blind” in that they are buried under alluvium, and most importantly, the gold grades increase with depth into the transition and fresh rock zones.“ 

“Now that we understand the structural controls on these deposits, the next stage is to RC drill test them (and their associated bodies) along strike and down plunge, where extra ounces of gold can be rapidly added.” 

“When Alto purchased the project in 2016, there were no JORC 2012 mineral resources. With carefully targeted drilling and adequate funding, there is potential to double the current JORC 2012 mineral resource base to +500,000 ounces over the next 12 months.”

The Inferred Mineral Resource for the Vanguard Camp and Indomitable Camp Gold deposits by deposit and classification is summarised in Table 1 below, and by rock type in Table 2 below.

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GOLD-IN-LATERITE

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FINAL AIRCORE GOLD ASSAYS AT INDOMITABLE NORTH HIGHLIGHT PERSISTENT “GOLD-IN-LATERITE” BLANKET

ASX Announcement 18 September 2018

  • Assay highlights include: 

SAC178 : 4m @ 2.8 g/t Au from 6m below surface 

SAC162 : 4m @ 2.5 g/t Au from 6m below surface 

SAC173 : 4m @ 2.5 g/t Au from 6m below surface 

SAC184 : 3m @ 2.5 g/t Au from 6m below surface 

SAC176 : 2m @ 2.7 g/t Au from 7m below surface 

  • Gold in laterite opens up potential for more oxide and primary gold mineralization within Indomitable Camp.

Alto Metals Limited (ASX: AME) (“Alto”, “the Company”) is pleased to advise that 50gm Fire Assay (FA) results of 1m aircore (AC) samples from the shallow 44 hole program (SAC152-195) drilled at Indomitable North prospect in June have now been received. Note: Assay results of 4m composite samples from the 44 hole program were previously reported to the ASX on 10 July 2018.

Together with previous explorer’s 1m FA drill results, these results have helped to extend the strike of the shallow flat lying (lateritic) gold mineralization at Indomitable North to over 180m. In addition, these results provide encouragement for further deeper drilling to discover the extent of oxide and primary gold mineralization below and around the laterite mineralization.

Commenting on these results, Managing Director Dermot Ryan said: 

“Alto’s earlier aeromagnetic survey and litho-structural interpretation highlighted the NNW trending ‘Indomitable Structural Corridor’ as being highly prospective for major gold deposits. The drilling of gold mineralized laterite horizons within this structural corridor increases the potential to discover numerous oxide and primary gold deposits. The major past gold producers at Sandstone, such as Hacks(206koz), Oroya (223koz), Bulchina (250koz) and Lord Nelson (207koz) were all defined at or near surface by either ‘gold in laterite’ or ‘gold in soil’ geochemical anomalies.”

Figure 1 overleaf shows the location of the Indomitable Camp prospects, and Figure 2 illustrates the Geology and Gold Structural Corridor at Indomitable (with Targets). Figure 3 shows the detailed location of Indomitable North AC & RC drill collars.

Alto’s 1m fire assay results for aircore holes SAC152-195 are shown in Table 1, along with 1m fire assay results for reverse circulation (RC) holes drilled by a previous explorer in Table 2. Cross sections showing Alto’s AC holes and 50gm fire assays for 1m samples, are shown in Figures 4 - 10.

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