Altamin Limited Announces High-Grade Channel Sample Results from Gorno Project
AZI (AZI) Share Update August 2024 Monday 5th
Altamin Reports High-Grade Channel Sample Results at Gorno
Altamin Limited (ASX: AZI) has released further high-grade assay results from its ongoing 2024 channel sampling program at the Gorno Project in Italy.
Instant Summary:
- Second batch of assays from 2024 channel sampling program.
- High-grade Zn-Pb-Ag assays from 62 samples across 27 channels.
- Significant results include 44.2% Zn, 10.2% Pb, and 175g/t Ag over 2.4m.
- Sampling extends mineralisation outside current Mineral Resource Estimate (MRE) footprint.
- Third batch of samples currently in the laboratory.
High-Grade Assay Results
Altamin Limited has announced the second batch of assay results from its 2024 channel sampling program at the Gorno Project. The latest results include high-grade zinc (Zn), lead (Pb), and silver (Ag) assays from 62 samples taken across 27 channels in three key areas. These areas target the prospective units of the Metalliferro and Breno limestone formations.
Significant results include:
- VCH056: 1.7m @ 33.8% Zn, 6.0% Pb, 80g/t Ag
- VCH059: 0.8m @ 39.1% Zn, 10.6% Pb, 206g/t Ag
- VCH061: 2.4m @ 19.7% Zn, 6.7% Pb, 157g/t Ag
- VCH066: 2.5m @ 32.1% Zn, 8.0% Pb, 137g/t Ag
- VCH067: 2.4m @ 44.2% Zn, 10.2% Pb, 175g/t Ag
Sampling Program Details
The channel sampling program aims to extend the mineralisation footprint beyond the current MRE. The samples were taken from three key areas: Parina Centro, Parina Sublevels, and Scala Santa. These areas were previously inaccessible and have been rehabilitated for safe entry and accurate surveying using LiDAR technology.
Fifteen of the channels sampled returned significant intersections, with results summarised in Table 1 of the announcement. The sampling program adheres to a regular spacing of less than 40 meters, ensuring representative sampling of both mineralised and non-mineralised wall rock.
The orientation of the mineralisation generally dips to the southeast at angles between 5 and 45 degrees, with slight undulations caused by alpine deformation. The channel intercepts are perpendicular to the dip.
Future Prospects
The channel sampling program continues to target high-priority areas, with the third batch of samples currently in the laboratory. The Executive Chairman of Altamin, Alexander Burns, commented on the success of the program, stating that the results add immediate value to the Gorno mineralisation footprint. Further assays are pending, and the technical team is working to interpret these new areas to include them in the geological model.
The high-grade assay results are likely to positively impact Altamin's stock price as they indicate the potential for significant mineral resource expansion at the Gorno Project. This could attract more investor interest and increase the company's valuation. The ongoing success of the channel sampling program also suggests that the Gorno Project has considerable untapped potential, which could lead to further positive announcements in the future.
Investor Reaction:
Analysts are likely to react positively to the high-grade assay results, as they indicate strong potential for resource expansion at the Gorno Project. The consistent success of the channel sampling program may lead to increased investor confidence in Altamin's exploration and development capabilities. However, investors will be keen to see the results of the third batch of samples and any subsequent updates to the MRE.
Conclusion:
Investors should keep a close eye on Altamin's upcoming announcements regarding the Gorno Project. The high-grade assay results from the channel sampling program indicate significant potential for resource expansion, which could positively impact the company's stock price. As the third batch of samples is currently in the laboratory, further updates are expected soon. Investors are encouraged to monitor these developments and consider the potential long-term benefits of Altamin's exploration efforts.