THE BOURSE WHISPERER: Alto Metals (ASX: AME) reported it is looking at opportunities for near term gold production at the company’s 100 per cent-owned Sandstone project, in the Murchison region of Western Australia.
Alto Metals said it has commenced work on historic battery sands at the Hacks, Oroya, Havilah and Maninga Marley prospects with sampling and metallurgical test work being undertaken to determine the viability of this material being incorporated into a low-cost heap leaching operation.
The company is also assessing the potential for mining and heap leaching near surface laterite hosted gold mineralisation at the Piper deposit.
It has also identified additional mineralisation of a comparable size and nature to Piper from previous drilling results from the adjacent Tiger Moth and Indomitable prospects.
Alto I snow drilling at these areas to provide data for input to a JORC Code 2012 Mineral Resource Estimate, and for samples for metallurgical test work.
“Alto believes that the low capital and operating cost of Heap Leaching may generate significant early cashflow for the company, which could provide funding for ongoing exploration for major gold deposits at the Sandstone project,” Alto Metals said in its ASX announcement.