Announcement Date: 2022-03-23
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Alto Metals Ltd.
Project name: Sandstone
Location: Australia
Commodities: Gold
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Alto Metals Limited (ASX: AME) (Alto or Company) is pleased to announce a significant mineral resource update at the Company’s 100% owned Sandstone Gold Project in Western Australia, (Sandstone Gold Project). The updated mineral resource estimate for the Sandstone Gold Project totals 12.4Mt at 1.6 g/t gold for 635,000oz of contained gold. The updated mineral resource incorporates updates for Lord Nelson, Lord Henry, Havilah and Vanguard Camps (refer to Tables 1 and 2 below) prepared by independent mining industry consultants, Snowden Optiro and reported in accordance with the JORC Code (2012 Edition). The updated mineral resource was reported using a 0.5 g/t gold cut-off and is constrained within a A$2,500 optimised pit shells, based on mining parameters and operating costs typical for Australian open pit extraction deposits of similar scale and geology. Only Indicated and Inferred categories of mineralisation were considered for use in the optimisation of the mineral resource. Alto considers the total mineral resources for the Sandstone Gold Project have a reasonable prospect of eventually being mined, taking into account the shallow nature of the deposits, the thickness and gold grades of the deposits, which are located on granted mining leases, and proximity to existing infrastructure.
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