- Altan Rio Minerals (AMO) 2022 program has commenced at the Pilot mine in Western Australia
- The program includes 11 holes totalling approximately 2500 metres
- Phase 4 RC drilling program will test targets immediately below the existing Pilot mine
- Site work for the drill site and clearing of the access roads have been completed
- Altan has also issued 5,000,000 stock options to directors, officers, consultants and employees
- Altan Rio Minerals Limited (AMO) is trading at C$0.11 as of February 7 at 1:47 pm EST
Altan Rio Minerals’ (AMO) reverse circulation drilling program has commenced at the Pilot mine.
The program will further expand the gold discovery at the historic mine in the prolific Southern Cross Greenstone Belt, Western Australia.
This program will target high-grade intercepts located immediately below the shallow open pit gold mine which previously operated between 1992-1993.
Historical production of 0.56 Mt at 3.03 g/t for 54,554 oz Au has been recorded at Pilot and Altan Rio’s high conviction targets hold strong promise to deliver quality results to investors within a short period of time.
Altan Rio CEO, Paul Stephen remarked on the program.
“It is an exciting time for Altan Rio and we are delighted to get underway with this highly anticipated RC drilling campaign to test targets beneath Pilot located in the heart of a world-class mining district.”
“We look forward to updating shareholders on the assay results from this first phase of drilling once they come to hand,” added Stephen.
The Southern Cross North Project is located in the Southern Cross greenstone belt being part of the Yilgarn Craton which has a total gold endowment in excess of 12 million ounces.
Altan Rio has recently acquired additional tenure to complement its existing ground holding increasing the landholding to 140km2, a 489 per cent increase in tenure.
This increase in tenure has strengthened its position north of Southern Cross with Altan controlled tenure now covering some +80 per cent of gold prospective greenstone belt on the Frasers Corinthian Shear Zone a major gold mineralized structure that links the Copperhead, Corinthia, Hopes Hill, Golden Pig, Frasers and Marvel Loch deposits.
It is also pleased to announce that it has granted an aggregate of 5,000,000 stock options to certain directors, officers, consultants and employees of the company in accordance with its current equity incentive plan.
Altan Rio Minerals Limited (AMO) is trading at C$0.11 as of February 7 at 1:47 pm EST.