THE BOURSE WHISPERER: Alto Metals (ASX: AME) is conducting a review to ascertain the potential of the historic Oroya Black Range mine, approximately 500 metres east of the Sandstone township in Western Australia.
Alto Metals has carried out drone imagery along with other activities that include the capture of drill hole data into a digital database.
The company currently has digitising of historic level plans in progress.
The historic underground Oroya Mine is reported to have produced a total of 420,000 tonnes at 16.48 grams per tonne gold for 220,000 ounces of gold.
Alto Metals believes the Sandstone Reef of the Oroya Mine could represent a potential high-grade target at vertical depths of 300 metres below surface.
The company has a goal at Sandstone for the delineation of a plus-1 million ounce JORC 2012 Mineral Resource it hopes could become the basis for a re-establishment of standalone oxide and primary gold mining and milling operations at the project.
Alto also announced it has received assays for 197 samples collected in April 2018 south of the Bull Oak pits, six kilometres south east of the township of Sandstone.
“Assays from these samples have defined a coherent 30 parts per billion (ppb) gold-in-soil anomaly over 1.3 square kilometres which requires follow up,” Alto Metals said in its ASX announcement.
“Gold analyses for the remaining 282 soil samples collected in the area, which flank the anomalous gold-in-soil anomaly, are expected within two weeks.”