Alto Metals Ltd (ASX:AME) MD Matt Bowles tells Proactive the companys targeted review of the historical Bull Oak Gold Mine and surrounding historic workings at the Sandstone Gold Project has highlighted the potential for near-term resource growth. He says the lack of recent exploration and untested mineralisation in significant intersections represents an opportunity for the company, which hopes to extend the mineralisation below the shallow-mined pit up and down dip, as well as along strike and at depth. The style of gold mineralisation at the Bull Oak deposit features multiple stacked lodes hosted within a granodiorite, similar to that observed at Lord Nelson and Lord Henry.
Bowles said: Most of the historical drilling at Bull Oak has been relatively shallow, however, two historical holes drilled to 300-metre depth intersected multiple lodes and reported numerous instances of visible gold.
A follow-up deep hole drilled by Alto returned a wide zone 260 metres at 0.4 g/t gold from 36 metres, including 14.1 g/t gold and ended in mineralisation.
The mineralisation is completely untested up and down dip of these intercepts, as well as at depth, and we are excited to have a reverse circulation (RC) rig arriving shortly to test these outstanding targets, that have the potential to drive near-term growth.
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Alto Metals Ltd