Lithium Energy Provides Answers to Modern Conundrum

COMMODITY CAPERS: Lithium Energy (ASX: LEL) is a dual-focused company with one eye looking overseas to develop its Solaroz lithium brine project in Argentina and the other fixed on its Burke graphite project in Queensland.

On its web page, Lithium Energy provides answers to two questions: Why lithium? and Why graphite?

The long-term prospects for lithium are very strong, Lithium Energy says, with demand being driven primarily by the expected growth for lithium batteries to be used in electric vehicles and other personal technological gadgetry.

It justifies developing its Solaroz project in Argentina by acknowledging lithium brine projects in that part of the world are, “recognised as being particularly attractive since they are amongst the lowest on the lithium carbonate cost curve, compared to hard rock lithium projects”.

Lithium Energy recently received Environmental Impact Assessment (EIA) approval from the local Jujuy Provincial Government Mining Authority to commence exploration works at Solaroz.

“This is a positive endorsement by the Argentinian Government Authorities of the Solaroz lithium project and I look forward to mobilising to site and commencing work shortly on this highly prospective project,” Lithium Energy executive chairman William Johnson said.

“There is no better address to be exploring for lithium than the prolific Lithium Triangle where a number of world class lithium brine projects have been discovered.”

Solaroz is in the highly prospective Lithium Triangle of Argentina, directly adjacent to or principally surrounded by lithium majors Allkem Limited (formerly Orocobre) and Lithium Americas Corporation.

As far as graphite goes, it is currently enjoying its status as the dominant anode material used in lithium-ion batteries with more than ten times graphite by weight used in a lithium-ion battery than lithium.

The Burke graphite project contains one of the highest-grade graphite deposits globally and presents Lithium Energy with an opportunity to participate in the anticipated growth in demand for graphite and graphite related products.

The Burke graphite deposit has a JORC Inferred Mineral Resource of 6.3 million tonnes at 16 per cent total graphitic carbon (TGC) for 1 million tonnes of contained graphite, including a high-grade component of 2.3 million tonnes at 20.6 per cent TGC.


Directors: William Johnson, Farooq Khan, Peter Smith, Victor Poh Hong Ho


Centaurus Metals Grabs Jaguar by the Tail

COMMODITY CAPERS: Centaurus Metals (ASX: CTM) received a boost for the company’s 100 per cent-owned Jaguar nickel sulphide project in northern Brazil in the shape of selection as a Strategic Minerals Project by the Brazilian Federal Government.

The Strategic Minerals Policy is part of the Investment Partnership Program – PPI (Programa de Parcerias de Investimento), a new Brazil governmental initiative designed to support companies while developing their projects across the country.

The PPI program supports projects deemed as strategic mineral projects for Brazil.

According to the Ministry of Mines and Energy, the Policy acknowledges a strategic priority dimension to the projects carefully selected by the Inter-ministerial Committee of Analysis of Strategic Minerals Projects – CTAPME, providing the titleholder with specialised governmental support for the development of their projects.

“The selection of the Jaguar Nickel Project as a strategic mineral project is further demonstration of the project’s global significance and its strategic importance to Brazil.” Centaurus Metals managing director Darren Gordon said.

“We applaud the Brazil government for introducing such a strong initiative for mineral projects considered to be of strategic importance to the country.”

Centaurus Metals soon followed up the announcement by reporting new results from ongoing resource growth and development drilling at Jaguar, the results from which are expected to underpin further resource growth ahead of the completion of a Definitive Feasibility Study (DFS) and maiden Ore Reserve estimate due for completion by the end of calendar 2022.

Centaurus acquired the Jaguar project in the western portion of the Carajás Mineral Province of Brazil from Vale in April 2020, since which time the company has defined a Mineral Resource Estimate totalling 80.6 million tonnes at 0.91 per cent nickel for 730,700 tonnes of contained nickel.

The MRE is expected to underpin mine optimisation and production profile studies to be undertaken throughout 2022 that will determine the optimal mine capacity for the development of the project.

Any expansion of the processing plant capacity and/or production profile is likely to have a material positive impact on the project economics and delivery of nickel-in-sulphate, which currently stands at 20 million tonnes per annum for 13 years.


Directors: Didier Murcia, Darren Gordon, Bruno Scarpelli, Mark Hancock, Chris Banasik


Austral Resources Making Copper Mountain out of Anthill

COMMODITY CAPERS: Austral Resources (ASX: AR1), although only recently listed in November 2021, boasts a strong portfolio of copper projects, including Anthill, Lady Annie, Cameron River, and Miranda, all at various stages of development.

Of these, the Anthill project is the most advanced, containing a JORC 2012 compliant Mineral Resource estimate of 13.8 million tonnes at 0.7 per cent copper.

The Anthill project area lies 45 kilometres from the Mt Kelly processing facility within the Lady Annie project, the tenements of which sit in the Western Fold Belt of the Mount Isa Inlier.

Austral Resources had a mining study completed by CSA Global in April 2021 resulting in a JORC 2012 compliant Ore Reserve of 5.1 million tonnes at 0.94 per cent copper containing 47,700 tonnes of copper.

The company is mining the ore from two pits with total recovered copper from the heap leach process anticipated to produce 40,400 tonnes over a 44 month period.

The company recently announced first ore haulage from the new Anthill mine to the Mt Kelly processing plant with the intention to begin Anthill ore processing by the end of April 2022.

“The first Anthill ore delivery to our processing facility represents a significant milestone achievement for the company,” Austral Resources chief executive officer Steve Tambanis said.

“Ore stacking onto the heap leach pad is expected to begin in late April and first plates of Anthill copper cathode will be produced in May 2022.

“From July onwards, copper cathode production is expected to exceed 1,000 tonnes per month.

“Rapidly increasing production and higher than forecast copper prices will combine to see healthy sales revenue from May.

Over 4 million tonnes of overburden has been moved since 6 January this year.

“When full scale haulage commences with 125 tonne road trains, each train contains sufficient copper to produce one tonne of recovered copper cathode or more thanUS$10,000 per train at current copper prices.

“The crushing circuit successfully processed its first rock as part of the refurbishment and commissioning process.”

With plant refurbishment finishing and full scale ore production on the horizon, Austral is on track to hit planned copper production of 10,000 tonnes per annum from mid-2022.


Directors: Phillip Thomas, Dan Jauncey, Jeffrey Innes, Michael Hansel

Barton Gold Holdings Resuscitating SA Gold Projects

COMMODITY CAPERS: Barton Gold Holdings (ASX: BGD) is aiming to breathe new life into the South Australian gold sector with development of its Tarcoola and Tunkilla gold projects.

The Tarcoola Project is located on the site of the brownfields open pit Perseverance Mine, which was operated during 2017 and 2018.

The Tarcoola Goldfield is an area familiar with gold production having been, during the early 1900s, South Australia’s major hard rock gold producer yielding some 77,000 ounces of gold.

Recent image processing and 3D modelling of detailed gravity survey data carried out by Barton in three key regional target areas of the project during September 2021 confirmed multiple prospective structural targets.

The recent gravity surveys identified a new, previously unrecognised large-scale anomaly called the Ealbara prospect, which was identified in the northern part of the Tarcoola project area on the Lake Labyrinth Shear Zone (LLSZ) and will be a priority target in Barton’s upcoming regional Tarcoola drilling program.

“Barton is rapidly building a new geological model for Tarcoola by combining traditional and innovative technologies,” Barton Gold Holdings managing director Alexander Scanlon said:

“These exciting results cross-validate our prior interpretations of multiple historical and new data sets, reinforcing the significant geological prospectivity for multiple regional discoveries at Tarcoola.

“Significant growth of Tarcoola’s mineralised footprint will be a high priority for Barton during 2022.”

The Tunkillia project is only 70 kilometres from Tarcoola and hosts a JORC Code 2012 compliant Mineral Resource Estimate at its cornerstone 223 deposit of 26.1 million tonnes at 1.15 grams per tonne gold for 965,000 ounces of gold.

Barton considers Tunkillia to hold much potential for large-scale extensions and discovery of new mineralisation.

The 223 deposit has put its hand up for this, already sitting at approx. 2.5km long and open to depth and along strike, with the host structure extending around 7km north and 7km south.

Both projects are within throwing distance of the company’s Central Gawler Mill, Barton’s main infrastructure hub with mill and processing plant capable of 650,000 tonnes mill feed annually, a 240 person mine village complete with recreation facilities and supporting infrastructure, labs, workshops, and private airstrip.


Directors: Mark Connelly, Alexander Scanlon, Richard Crookes, Christian Paech, Neil Rose, Graham Arvidson


Coda Minerals Advancing Emmie System at Elizabeth Creek

Coda Minerals (ASX: COD) recently underscored its understanding of the company’s Elizabeth Creek copper project in the Olympic Copper Province in South Australia.

Coda is the operator and majority owner of the Elizabeth Creek project, holding a 70 per cent interest alongside Torrens Mining, which holds a 30 per cent interest.

Coda and Torrens have struck a Bid Implementation Deed for the companies to merge via a recommended takeover offer, consolidating 100 per cent ownership of the Elizabeth Creek project.

Recent diamond drilling continued to demonstrate the substantial metal endowment of the broader Emmie System, which comprises both the shallower Emmie Bluff copper-cobalt deposit and the adjacent Emmie IOCG (copper-gold) at depth.

Two recent drill-holes combined with comprehensive re-logging of drill core by an IOCG expert, changing the company’s ideas about what the project may hold.

The first hole, EBD7, seemed to cut off a bornite zone on the far western edge of the anomaly while the second returned a copper-rich bornite dominated intercept from a location the company was not expecting to find one.

Combining results with detailed re-logging of previous holes, Coda interpreted outcomes to suggest multiple copper-bearing conduits could exists within the Emmie IOCG mineralised system.

“Simply put, we thought we were chasing a single area of mineralisation, but we now believe that there may be multiple zones of bornite,” Coda Minerals CEO Chris Stevens said.

“What we don’t yet know is how many there are, and whether or not some are much thicker than what we have found to date.”

The bornite encountered by the second of the holes mentioned provides new targets along with already established information leading the company’s suspicions Emmie IOCG displays hallmarks of an accumulation of copper and other valuable metals at least comparable in scale to the Emmie Bluff copper-cobalt deposit above it, and potentially much larger.

“Having both types of potentially economic copper mineralisation within the same overall mineralised system is unique, probably in the world,” Stevens said.

“With approximately 800,000 tonnes of contained copper equivalent already defined in Indicated Resources at Emmie Bluff, the IOCG beneath has also begun to demonstrate significant scale.”

Coda signalled its next move will be to focus on drill testing to evaluate and extend the new bornite zone encountered in EBD7 and re-evaluate historical drill hole SAE4, which encountered 16m at 0.64 per cent copper and 0.2g/t gold from 860m and 36m at 0.71 per cent copper and 0.2g/t gold from 884m.

Apart from this work, the company has taken very early steps to assess the economic potential of the Emmie IOCG deposit with the intention to integrate the Emmie IOCG deposit into the ongoing Elizabeth Creek scoping study.

“Based on what we already know, we have reached a point of confidence that Emmie IOCG represents a significant accumulation of copper and other valuable metals at least comparable in scale to the Emmie Bluff copper-cobalt deposit above it, and potentially much larger,” Stevens said.

“This opens up the very real option to evaluate the potential of a fully integrated development of these two deposits as part of a much larger mining operation.”


Directors: Keith Jones, Chris Stevens, Colin Moorhead, Robin Marshall, Paul Hallam


Breaker Resources Cashed Up and Ready to Fly at Lake Roe

COMMODITY CAPERS: Breaker Resources (ASX: BRB) is focused on its expanding Lake Roe gold project in a greenfields district, 100 kilometres east of Western Australia’s gold mining hub of Kalgoorlie.

In December 2021, Breaker announced a 23 per cent increase in the Lake Roe Mineral Resource that increased global Resources for the project by 314,000 ounces to 1.68 million ounces.

This came on the heels of a 40 per cent increase in April 2021.

The company declared the robust mining potential is apparent at the Bombora deposit when typical standalone cut-off grades are applied:

Open Pit Resource
11.2 million tonnes at 1.9 grams per tonne gold for 688,000 ounces (0.8g/t cut-off above 100mRL); and

Underground Resource
4.4Mt at 3.6g/t gold for 501,000 ounces (1.8g/t cut-off below 100mRL).





Breaker is confident the new Resource provides a solid foundation for a long-term mining project with attractive margins, especially given current gold prices.

The high-grade growth potential immediately below the open pit Resource is wide open, from where several areas are opening with a grade and continuity suitable for underground mining.

“We are looking forward to start the transition from discovery into mine development studies over the ensuing year,” Breaker Resources managing director Tom Sanders said.

“Accordingly, we plan to ramp up our drilling to firm up the best areas for development, while expanding the Resource in other areas at the same time.”

Breaker Resources expects to start the transition from discovery into mine development studies throughout 2022.

In accordance with these aspirations, the company has signalled ramping up its drilling timetable to firm up the best areas for development, while expanding the Resource in other areas at the same time.





Breaker’s decision to divest 80 per cent of the Manna lithium rights at Lake Roe to ASX-listed Global Lithium Resources late last year, in a deal worth up to $33 million, to maintain its core focus on gold has turned out to be an astute move.

Global Lithium paid Breaker $13 million upfront comprising $6.5 million in cash and $6.5 million in Global Lithium shares to secure the deal.

Looking ahead, Global Lithium will pay Breaker a further $10 million on definition of a Mineral Resource containing more than 250,000 tonnes of contained Li2O.

Keep the crystal ball on, because Global Lithium will pay Breaker a further $10 million upon production of 100,000 tonnes of contained Li2O.

The new owners are already rapidly advancing the project with Global Lithium Resources recently announcing a maiden Inferred JORC Mineral Resource estimate for the Manna lithium project of 9.9 million tonnes at 1.14 per cent lithium oxide and 49ppm tantalum pentoxide.

Manna was discovered by Breaker Resources by way of initial drilling of the deposit in 2018.


Directors: Peter Cook, Tom Sanders, Mark Edwards, Mike Kitney, Linton Putland, Eric Vincent


Zinc Tailings Provide Profitable Processing

COMMODITY CAPERS: New Century Resources (ASX: NCZ) has taken recycling and sustainability to new levels.

In its own words the company is, “a leading mining, tailings management and economic rehabilitation company focused on sustainably producing metal from resource assets while rehabilitating legacy impacts to the environment”.

New Century Resources achieved status as a top-15 global zinc producer via unconventional means.

The company operates Australia’s largest hydraulic mine at the Century Mine in Queensland, an operation that entails extracting, processing, and marketing zinc recovered from historical tailings.

Its success at doing so resulted in the ASX recently reclassifying the company from a ‘mining exploration entity’ to that of a ‘mining producing entity’ as defined under due to consistent revenue and cashflow from production over a period of more than 12 months.

The Century mine is located north-west of Mount Isa and began open-pit production in 1999.

During its initial 16 years of operation, Century was one of the largest zinc mines in the world, producing and processing an average of 475,000 tonnes per annum zinc in concentrate and 50,000tpa lead in concentrates.

Following the depletion of the original ore reserve, the mine was put on care and maintenance in 2016.

Enter, New Century Resources, which acquired the operation in 2017 from MMG, with the idea of re-starting operations through the reprocessing of tailings through the extensive infrastructure in place.

The operation is simple; tailings ore is hydraulically mined then pumped to the existing processing plant to remove remnant zinc prior to pumping back into the original open pit for final storage.

This economic rehabilitation strategy reduces the environmental footprint of site whilst providing a foundation for life extension through the future processing of substantial mineral deposits on site.

The 7 million tonnes per annum capacity hard rock processing plant has been refurbished to process up to 12 million tonnes per annum of tailings ore.

The plant also has latent capacity to process up to 1 million tonnes per annum of hard rock ore concurrently with tailings.

While production ticks over at the Century mine, New Century Resources is exploring the potential restart of copper production at the historical Mt Lyell mine in Tasmania using 100 per cent renewable energy.

New Century is also pursuing opportunities with industry peers to reprocess and rehabilitate contemporary and historical mineralised waste assets at operational and legacy mine sites where it hopes to instigate its expertise in economic rehabilitation.



Directors: Robert McDonald, Patrick Walta, Nick Cernotta, Peter Watson, Kerry Gleeson


Saturn Metals Derives Elite Recoveries at Apollo Hill

COMMODITY CAPERS: Saturn Metals has announced excellent results from metallurgical test work on samples of mineralised material collected from the Apollo Hill deposit within the company’s 100 per cent-owned Apollo Hill gold project in the Western Australian Goldfields.

“The metallurgy of Apollo Hill is a great differentiator as it gives the opportunity for the company to consider shifting the scale of the deposit’s development,” Saturn Metals managing director Ian Bamborough said.

The company explained that the test work is a key part of its ongoing strategy to grow and progress the Apollo Hill Mineral Resource, which was last upgraded over one year ago to 944,000 ounces.

The results highlighted Apollo Hill’s amenability to simple low-cost mineral processing methods, including heap leach, which can in turn drive lower stripping ratios and efficient mining processes.

An Apollo Hill composite sample derived from high quality diamond core, gave an excellent overall recovery of 81 per cent from intermittent bottle roll tests, preceded with gravity separation, using high pressure grinding roll (HPGR) crushing to 8mm P100 (targeted commercial fresh rock crush size).

These results complement, confirm, and potentially improve on column leach test work previously published by the company where recovery was 73 per cent at 8mm crush on an Apollo Hill typical drill core composite.

A strong average recovery of 77 per cent was obtained for Apollo Hill’s major material types, across the deposit’s lower grade range, using conventional stage crushing and High Pressure Grinding Rolls (HPGR) sample subsets.

This augurs well when considering the reported global average grade of heap leach operations is 0.7g/t and on average 65 per cent of gold is recovered.

Saturn believes the results support its view that Apollo Hill has the potential to join this group.

It also indicates gold recovery may be viable from material which would normally be considered marginal and highlights potential for the use of lower cut off grades to improve economics.

“These excellent results from a comprehensive Apollo Hill sample set, provide a decisive weight of evidence for the application of simple cost-effective mineral processing scenarios at lower cut off grades,” Bamborough said.

“We plan to utilise these new results and the results of our more mill-based metallurgy program as reported in October 2021, to examine the potential for economies of scale in our current resource upgrade process and subsequent studies.”


Directors: Ian Bamborough, Brett Lambert, Andrew Venn, Rob Tyson, Adrian Goldstone

Revolver Resources Locked and Loaded for North Queensland Exploration

COMMODITY CAPERS: Revolver Resources is a copper exploration company that listed on the ASX in September last year with a self-proclaimed focus on development of natural resources to meet the world’s accelerating electrification needs.

The company has advanced copper projects in Queensland: Project Osprey; and the Dianne project.

The Dianne project, which was once one of the highest-grade operating copper mines in the world and has left a remaining orebody ripe for redevelopment, located in North Queensland’s polymetallic Hodgkinson Province.

The Dianne Copper Mine produced 63,758 tonnes of high-grade copper ore with an average grade of 22.7 per cent from open cut and underground operations between 1979 and 1983 before mining operations ceased.

Work carried out by Revolver at Dianne to date has the company already labelling it an emerging potentially high-grade multi-mineral new discovery.

Assays released earlier this year indicate much higher grades and higher volumes of copper, zinc, cobalt and gold than what the company had previously thought existed within the project.

The company now views the Dianne project as one of enormous untapped potential pointing to the highly encouraging and exciting results it has achieved to reveal a far more extensive mineralised and multiple commodity system than has been previously understood.

“These results offer the potential of expanding the known mineralisation significantly,” Revolver Resources managing director Pat Williams said.

“Put into context, the assay results we have from these samples – which were obtained only from surface – highlight ore grades greater than the average grade of some mines operating today.

“The pathway to material, low-cost, near-term production has been greatly enhanced with this new information.

“Our systematic exploration program on the Dianne project is unveiling a considerable mineralised system and its inherent characteristics, and this is rapidly evolving how we adapt to efficiently continue to explore and grow the size of the ultimate resource.

“Our exploration methodology is being validated and we are opening up multiple parallel work fronts to bring forward further critical information about the full potential of the Dianne project.”

Project Osprey lies within Queensland’s world class North-West Minerals Province, where exploration has confirmed the characteristics of both Iron Oxide Copper Gold (IOCG) and Mt Isa style copper mineralisation systems.

The area is no stranger to the industry with world -class mines already established in the region, including Mt Isa copper mine, George Fisher/Hilton copper mine, Century zinc mine as well as the Mount Gordon deposits – Mammoth, Esperanza and Esperanza south and Ernest Henry.

Revolver is targeting Mt Isa style copper mineralisation within several already identified zones.

The company has reinterpreted historical regional geology by using gravity, magnetic, and drilling data that has demonstrated its geological targets occupy the (faulted) contacts of the basaltic basement with sediments of the younger McNamara Group (termed Paradise Creek and Lady Loretta Formations).

Revolver has established an exploration program for the next two years for Project Osprey to include phases of diamond drilling, further geophysical EM and IP surveys.



Directors: Pat Williams, Paul McKenna, Brian MacDonald


Alto Metals Keeps 2022 Momentum Running at Sandstone

COMMODITY CAPERS: Alto Metals (ASX: AME) reported a mineral resource update for the company’s 100 per cent-owned Sandstone gold project in Western Australia.

The mineral resource estimate for the Sandstone gold project now totals 12.4 million tonnes at 1.6 grams per tonne gold for 635,000 ounces of contained gold.

The updated mineral resource incorporates updates for the project’s Lord Nelson, Lord Henry, Havilah and Vanguard Camps and was prepared by independent mining industry consultants, Snowden Optiro and reported in accordance with the 2012 JORC Code.

Highlights of the update, include:

• Resource update represents an increase of 92 per cent in contained gold at an average discovery cost of less than A$14 per ounce.

• Updated Mineral Resources constrained within $2,500/oz optimised pit-shells at a 0.5g/t gold cut-off and over 90 per cent of total ounces within 160m from surface.

• Shallow, high-grade resources remain open along strike and at depth at all deposits highlights the strong potential to continue to grow the resource inventory with further drilling.

• Excellent gold recoveries of approx. 96 per cent in fresh rock returned from preliminary gold recovery testwork (avg. of 93% across all rock types) demonstrates gold will be recoverable through a simple cyanide extraction process.

• Rapid growth at Vanguard Camp with a tripling of the resource to 2.3 million tonnes at 2g/t gold for 150,000oz and mineralisation remaining open along a +2km long NW/SE trending corridor.

• Substantial resource growth at Lord Nelson, increasing by 138 per cent to 5.3 million tonnes at 1.6g/t gold for 267,000oz and mineralisation remains open.

• Mineral Resource Estimate excludes an update for Indomitable Camp. Recent high-grade gold results outside the current resource and assays from planned drilling to be included in an update in the second half of the year.

“We view this very much as an interim resource upgrade, with significant scope to delineate additional shallow, high-grade gold ounces with the current and planned drilling at the Lords Corridor, Vanguard and Indomitable,” Alto Metals managing director Matthew Bowles said.

“The company remains focused on adding further ounces with extensional drilling and plans to mobilise additional rigs to fast-track this resource growth and also test a number of our high-priority regional targets.

“Alto completed over 60,000 metres of drilling in 2021 and the scale of growth, particularly at Lord Nelson which has more than doubled and Vanguard which has tripled in size, gives us the confidence that we can continue to materially grow the resources beyond what is currently defined at Sandstone.”

Alto has enjoyed a fairly busy 2022 thus far: before attending the 2022 RIU Explorers Conference in February, the company reported gold results from drilling completed at the end of 2021 at Sandstone.

Alto carried out the extensional drilling at the Indomitable deposit that forms part of the Indomitable Camp, which is currently defined over a two kilometres strike length and is hosted within the +20km NW/SE Indomitable/Vanguard/Havilah Trend that forms part of Alto’s priority ‘Alpha Domain’ target area.

Multiple, broad zones of gold mineralisation were intersected from shallow depths in step‐out RC drilling at the Indomitable Camp located approximately 15km north‐west of the Lords Corridor.

Results included:

SRC 574
21 metres at 2 grams per tonne gold from 46m, including 1m at 14.9g/t gold from 61m and including 1m at 6.3g/t gold from 66m, and 11m at 2.5g/t gold from 92m, including 2m at 7g/t gold from 93m.

The Indomitable Camp currently has an Inferred Mineral Resource of 1.7 million tonnes at 1.5 grams per tonne gold for 74,000 ounces. These resources remain open along strike and at depth.

“At Indomitable we have now defined mineralisation over a strike length of 500 metres, with numerous broad intersections of strong gold mineralisation, encountered from shallow depths, which remain open at depth and along strike,” Bowles said.

“Such an unusually deep weathering profile suggests the mineralisation structures at the Indomitable deposit are long‐lived and extensive, which is encouraging as it indicates the potential for a much larger system.

Commencing 2022, Alto reported on activities undertaken to close 2021 at Sandstone being gold results from the Havilah‐ Maninga Marley prospect, which along with the Havilah West target makes up the Havilah Camp that is defined over a 1,500 metre strike located less than one kilometre west of the Lords Corridor.

The Havilah deposit currently has an Inferred Mineral Resource of 371,000 tonnes at 1.7 grams per tonne gold for 20,300 ounces.

The results from Havilah confirmed continuity of high‐grade mineralisation outside the current resource and remains open down plunge, and included:

3 metres at 1.4 grams per tonne gold from 51m and 13m at 2.5g/t gold from 104m, including 1m at 21.9g/t gold from 114m.

Alto also reported on further high‐grade intercepts achieved at the Lord Henry pitttt that included the latest one‐metre resplits of previously reported four‐metre composites from RC drilling designed to test extensions of gold mineralisation.

The results continued to highlight the presence of multiple stacked lodes of high‐grade gold, within broader zones of mineralisation, that remain open to the north.

These latest results will be incorporated into the updated mineral resource estimate for Lord Henry.




Directors: Richard Monti, Matthew Bowles, Terry Wheeler, Dr Jingbin Wang