Alto Metals Initiates Drill Testing At 832,000-Ounce Sandstone Gold Project

Alto Metals Ltd (ASX: AME) is taking advantage of renewed interest in the gold exploration sector and has commenced a 4,000-metre air-core drilling program at the Sandstone Gold Project.

Alto is looking for a multi-million-ounce gold resource at the project.

Drilling is designed to test new shallow targets identified from the recent infill soils program at the Sandstone North prospect.

Alto remains active with other low-cost regional targeting work ongoing.

The project covers a strategic ground position of 740 square kilometres over the Sandstone Greenstone Belt, in Western Australia, surrounded by multi-million-ounce gold deposits and producing mines.

Therefore, significant discovery potential remains for Alto, and the company is well-funded with $3.5 million in cash at the end of 2023.

It has a tightly held share register.

Gold is currently trading at all-time highs of around A$3500 an ounce, helping its cause for investors looking for a gold counter.

Growing resource

Sandstone hosts a large and growing open-pitable gold resource of 17.6 million tonnes at 1.5 g/t gold for 832,000 ounces.

The unconstrained resource is 23.5 million tonnes at 1.4g/t for 1.05 million gold ounces.

Metallurgy has delivered up to 98% recoveries.

Resources are open along strike and at depth.

Adding to the potential of the project, Sandstone historically has produced over 1.3 million gold ounces since the 1890s, with very limited drilling below 100 metres in depth.

Historical high-grades

Matthew Bowles, managing director, commented:

“Given the structural setting and high-grade gold results reported in historical drilling at Sandstone North, we are excited to be testing these compelling regional gold targets.

“We continue to focus on advancing our Sandstone Gold Project and Sandstone North demonstrates the quality of our regional project pipeline.”

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