Altan Rio Minerals Ltd

Description

Alton Rio Minerals Ltd (TSXV:AMO) is Australia focused gold explorer and operates Southern Cross North Project in Western Australia. The Company controls fifteen granted Prospecting Licenses on the project and spread over an area of 23.7 square kilometers. The Southern Cross Project is located in the center of the Yilgarn Gold Field.

Altan Rio is set on a fast-track growth path by its highly experienced and well-seasoned management team. 

Western Australia is estimated to hold 60% of total Australia’s gold reserve. The Southern Cross Project is located in the Southern Cross Greenstone Belt within the Yilgarn Craton, a premier gold province of Australia. The Southern Cross region has historically produced 12.3Moz of gold.

Southern Cross North tenure presents a greenfield as well as brownfield exploration opportunity. Gold mineralisation is present at shallow depths with no prior testing done below 50 metres of depth. The project has a historically significant intercept result of 12.1m with a grade of 4.5g/t Au.

Altan has identified five high priority targets on the project – Pilot, Aries, GPN, Glen Innes, and Paddocks. The results of RC drilling campaign on its Pilot prospect have returned significant intercept result confirming high-grade gold mineralisation at Pilot Shallow Open Pit Mine. The follow-up EM survey reconfirmed the findings of the drilling operation and indicated towards possible extension in mineralisation. 

Altan Rio also operates the Chandman Project in Mongolia. The Cu-Au project comprises two mining licences covering an area of 12.73 KM2. Alton controls 100% interest in the project. The project area lies in the mountainous basin related to Cambrian granitic intrusion and copper-gold mineralisation.

Seventeen diamond drill holes had been drilled on various drilling campaigns between 2009 and 2010. Three holes hit significant gold-copper mineralisation, and the best result was 32.13m @ 1.49 g/t Au, 0.6% Cu and 8.07 g/t Ag, including 10.39m @ 2.71g/t Au, 091% Cu and 12.11g/t silver.