Altan Rio Minerals (AMO-V) Update On Pilot Project And Commencement Of Drill Program
Nov 3rd 2020 - NR
Altan Rio Minerals Ltd. has provided an exploration update with respect to the historical Pilot gold deposit in Western Australia pursuant to its exploration and mining agreement with Barto Gold Pty. Ltd., formerly Tianye SXO Gold Mining Pty. Ltd. The Pilot agreement incorporates Barto's tenement ML77/1049 with a greater areal extent of the surrounding tenement P77/4341 controlled by Altan Rio through its joint venture with Surveyor Resources Pty. Ltd. with respect to the Southern Cross North project.
A reverse circulation (RC) drill program has commenced at the Southern Cross North Project with a significant component of the drilling targeting extensions to the Pilot mineralization.
Since commencement of the Pilot Agreement in June 2020, activities completed by Altan Rio have comprised investigating and capturing all historical surface drilling, underground workings, underground diamond drilling, and where available underground channel sampling incorporating the data into digital format and reviewing this data in a 3D platform as depicted in Figure 2. Key outcomes from this work include:
Identification of mineralization extending well below the level of historical workings ("4 Level"), 120 metres below surface, with a best reported intercept of 6.09 metres grading 8.46 g/t from 256.04 metres in drillhole DDPS11, this intercept and other intercepts of note have been previously reported (see press release of Altan Rio dated June 25, 2020) and are provided below in Table 1.
Sampling of the surface diamond drilling was highly selective with large portions of the drillcore unsampled, these drillholes are no longer available. Altan Rio believes there is significant potential for additional zones of gold mineralization previously unrecognised and not sampled.
Drilling is also planned to further evaluate promising drill results reported at the Hopes Hill South and Glen Innes prospects (see press release of Altan Rio dated September 3, 2020).
Cautionary note
Information included in this announcement is sourced from historical reports ("WAMEX Reports") lodged with the Western Australian Department of Mines, Industrial Regulation and Safety ("DMIRS"). This extensive literature resource is available online and provides important historical factual information for exploration companies to utilise.
Additional information, including scanned level plans, stoping plans and working underground sections were sourced from the Western Australian Department of Mines, Industrial Regulation and Safety, these plans are recorded with an identification number of 081.
Data for Pilot has been sourced from three reports. Of particular note is the information relating to Greater Western Consolidated NL activities circa 1959 to 1962 comprising underground sampling, surface and underground diamond holes. Altan Rio has converted this data into a digital format. This historical information is and will only be used as a guide and is subject to verification by future drilling activities, however it provides valuable insight on the potential of mineralization at depth at Pilot.
Qualified Person
Mr. Neal Leggo, Principal Geologist, CSA Global Pty Ltd, a member of the Australian Institute of Geoscientists (MAIG) and an independent Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of the technical content regarding the Southern Cross North Project contained in this document. Mr. Leggo has reviewed and approved the technical disclosure in this news release.
For more information contact:
Paul Stephen Chief Executive Officer
Email: ps@altanrio.com
+61 9322 1788
altanrio.com |
