Gold Companies on the Bill at Roadhouse Roadshow
THE CONFERENCE CALLER: The Resources Roadhouse will be on the road again in a couple of weeks. This time we will be in Melbourne presenting our inaugural Resources Roadhouse Roadshow. Here’s a quick bite of two of the companies that will be presenting.
Adelong Gold (ASX: ADG) has declared itself as being on track to becoming a mineral producer at the company’s Adelong Goldfield project in New South Wales.
Adelong Gold acquired the project in May 2020 that currently hosts a JORC 2012-compliant Resource of 188,000 ounces.
The most recent news to filter out of the project was completion of a soil sampling program to the north of the Currajong deposit that had been designed to test an area to the north-west of the Adelong Mill and resulted in defining several new drill targets.
The soil sampling program was carried out to the north of the Currajong deposit, with 191 samples taken on 10 lines covering a one kilometre strike length.
Results included five samples of greater than one gram per tonne gold with a peak result of 1.75g/t gold whilst highlighting potential for multiple lines of mineralisation striking NNW similar to the adjacent deposits in the immediate area of Challenger, Currajong and Caledonian.
“We are very encouraged with the results of this soil sampling program, which highlight the potential for extension of mineralisation to the north of the Currajong deposit within close proximity of the Adelong Mill,” Adelong Gold managing director Ian Holland said at the time.
“The Scoping Study demonstrates an attractive commercial operation to be developed at Adelong, and so the discovery of further shallow mineralisation nearby augurs well for this project to grow further.”
Adelong Gold has further drilling planned within the key deposits mentioned above (Challenger, Currajong and Caledonian) that comprise the Scoping Study currently underway with a view to potentially upgrading and extending these sources.
This will underpin works to upgrade the current study to allow for a range of funding options to be considered for the development of the Adelong gold project.
Alto Metals (ASX: AME) also is also keeping drillers busy with a regional aircore (AC) drilling program having got underway at the company’s 100 per cent-owned Sandstone gold project in Western Australia.
Alto Metals has an initial approx. 4,000 metres program planned to test shallow gold targets that were identified via a recent infill soils sampling program at the Sandstone North prospect.
The infill program returned gold results that delineated a coherent gold anomaly over 1km strike, including values of up to 100ppb gold.
The location of the gold anomaly also correlates with a major north-south trending interpreted shear zone along a regional fold axis, in a similar position and approximately 1.5kms along strike, from historical workings and high-grade drilling results.
“We are pleased to have a rig back on site drilling at our Sandstone gold project,” Alto Metals managing director Matthew Bowles said in the company’s ASX announcement.
“Given the structural setting and high-grade gold results reported in historical drilling at Sandstone North, we are excited to be testing these compelling regional gold targets.
“We continue to focus on advancing our Sandstone gold project and Sandstone North demonstrates the quality of our regional project pipeline.
“We look forward to providing shareholders with updates on the results of the drilling when they are received.”
Alto Metals currently has a shallow, open pit gold resource of 17.6 million tonnes at 1.5 grams per tonne gold for 832,000 ounces optimised and pit-constrained within $2,500/oz pit-shells.
Of note, the mineral resources are shallow with over 90 per cent within 150m from surface.
The optimised and pit-constrained MRE captures over 80 per cent of the total unconstrained MRE of 23.5 million tonnes at 1.4g/t gold for 1.05 million ounces.
The Roadhouse Roadshow will be at The Kelvin Club in Melbourne of Wednesday April 24.
Melbourne readers are welcome and encouraged to attend. To save your place follow this link to register:
https://vert.eventsair.com/resources-roadhouse-roadshow-april-2024/registration