ALTO METALS ESTABLISHES EXPLORATION TARGET FOR BULL OAK GOLD DEPOSIT

Significant Near-Term Resource Growth Potential at Sandstone Project

Alto Metals Limited (ASX:AME) has announced a new JORC-compliant Exploration Target for the Bull Oak Gold Deposit, a part of the company’s flagship Sandstone Gold Project in Western Australia.

Key highlights of the announcement include:

  • A new JORC-compliant Exploration Target for Bull Oak, with an open-pit gold resource of 17.6Mt at 1.5 g/t gold for 832,000oz, constrained within A$2,500/oz pit-shells.
  • The Bull Oak Exploration Target is inclusive of the current Bull Oak Mineral Resource Estimate (MRE) of 65,000oz at 1.1 g/t gold.
  • Near-mine review highlights additional mapped and interpreted felsic intrusive gold targets.
  • Alto’s exploration strategy remains focused on delivering value through near-term resource growth within the Alpha domain and high-impact regional exploration.
  • Preparations are underway to commence the next phase of RC drilling at Bull Oak in the coming weeks, in parallel with ongoing regional targeting and exploration work.

Alto’s Managing Director & CEO, Matthew Bowles said:

Given the amount of historical drilling at Bull Oak and success of the extensional drill program at Bull Oak at the end of 2023, defining repeat lodes along strike and both up and down dip, now over 400m and remaining open, we are in the fortunate position of being able to calculate a considerable Exploration Target, that demonstrates the upside potential of this intrusion related deposit.

The Exploration Target uses parameters from the recent Bull Oak MRE estimate and outlines extensions of that deposit based on the recent drilling as well as geological and structural interpretation.

We believe the Exploration Target of 250-360koz at 1.0 – 1.3 g/t Au has been calculated on a conservative, but justifiable, basis and is well supported by both drill intercepts and the continuity of mineralisation observed throughout the deposit. Outside of the Exploration Target, where drilling is currently limited, we see additional tonnage and grade potential.

The purpose of the Exploration Target is to highlight where we see near-term growth. We believe this can be achieved through the success of our planned drilling campaign, which will be an excellent outcome for shareholders. Taking the Exploration Target into consideration with the additional intrusive gold targets in the area illustrates the scalable potential of the Bull Oak Camp.

Read the full announcement

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