Alto Metals Granted New Mining Lease over Lords Corridor

THE BOURSE WHISPERER: Alto Metals (ASX: AME) has picked up new ground, increasing the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Alto Metals reported receipt of notification from the WA mines department of granting of its new mining lease application (M57/658).

The new granted mining lease is over a mineralised corridor between Alto’s existing mining leases ML57/652 and ML57/651, which cover the Lord Nelson and Lord Henry deposits respectively and is contiguous with ML57/650 to the west, consolidating the Lords Camp, which currently hosts a shallow gold Mineral Resource of 0.4 million ounces at 1.6 grams per tonne gold under granted mining lease.

The company considers securing this new mining lease further de-risks the Sandstone gold project and provides optionality for future mining scenarios.

“We are pleased to announce that our application for a new Mining Lease over the Lords Corridor has been granted,” Alto Metals managing director Matthew Bowles said in the company’s ASX announcement.

“Importantly, this further de-risks the Sandstone gold project and complements our strategy to maintain optionality for future development scenarios.

“I would like to thank our in-house team on their work to successfully secure this new mining lease and DMIRS for the support of the Sandstone gold project in granting the new lease.”

 

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