Alto Metals Achieves 97% Gold Recovery in Latest Testwork
AME (AME) Share Update September 2024 Monday 23rd
Alto Metals Announces 97% Gold Recovery from Indomitable Testwork
Alto Metals Limited (ASX: AME) has announced outstanding results from recent metallurgical testwork at its Indomitable deposit, part of the Sandstone Gold Project in Western Australia.
Instant Summary:
- 97% gold recovery achieved with gravity separation and cyanidation.
- High gravity gold recovery of 64.8%.
- Gold recoveries at a coarse grind size of 150 μm reached 97% within 24 hours.
- Further de-risks the Indomitable deposit and Sandstone Gold Project.
- RC drilling program of ~3,500m currently underway at the Sandstone Gold Project.
Metallurgical Testwork Results
Alto Metals Limited has reported impressive results from metallurgical testwork conducted at its Indomitable deposit. The testwork, managed by Independent Metallurgical Operations Pty Ltd, demonstrated a gold recovery rate of up to 97% using gravity separation and cyanide leaching on composite RC drill samples from primary high-grade gold mineralization.
The samples comprised fresh rock (sheared ultramafics) with gold mineralization within quartz veining and sulphides. The testwork achieved a high gravity gold recovery of 64.8%, with gold recoveries at a coarse grind size of 150 μm reaching 97% within 24 hours.
Complementary Results and Project De-risking
These results complement previous Leachwell™ accelerated cyanide leach testwork on oxide RC drill samples from Indomitable, which reported a 93% gold recovery. The successful testwork further de-risks the Indomitable deposit and the broader Sandstone Gold Project, indicating that all deposits within the project are amenable to conventional cyanide extraction.
Alto's Managing Director, Matthew Bowles, highlighted the significance of these findings, stating that the testwork confirms the material can be processed using conventional gravity and cyanide leaching, thereby enhancing the project's viability.
Ongoing Exploration and Future Prospects
Alto Metals' Sandstone Gold Project covers over 740 km² of the Sandstone Greenstone Belt in Western Australia and currently boasts an open pit gold resource of 17.6Mt at 1.5 g/t gold for 832,000 oz. The company is actively conducting a 3,500m RC drilling program at the project, targeting extensional zones outside the current mineral resources at Vanguard, Ladybird, and Bull Oak gold deposits, as well as first-pass drilling at the new Lightning Prospect.
The excellent gold recovery results from the Indomitable deposit are likely to positively impact Alto Metals' stock, as they significantly de-risk the project and enhance its economic viability. The high recovery rates suggest that the company can efficiently extract gold, which could lead to increased investor confidence and potential stock price appreciation.
Investor Reaction:
Analysts are expected to react positively to the announcement, given the high recovery rates and the de-risking of the project. The ongoing drilling program and the potential for further positive results could also bolster investor sentiment.
Conclusion:
Investors should keep an eye on Alto Metals' ongoing exploration activities and upcoming results from the Sandstone Gold Project. The company's ability to achieve high gold recovery rates and its strategic approach to expanding its resources make it a promising investment opportunity in the gold mining sector.