Alto Metals Targets Historical Troy Resources Gold Properties
Alto Metals (AME:AU) does not have the time to wait for the uranium market to turn. It has jettisoned its former name of Enterprise Uranium, put aside some exciting uranium exploration opportunities and joined the rush to rehabilitate historical WA gold workings as a short-cut to value. Alto Metals intends bringing back to life tenements surrounding the former Troy Resources ore processing plant at Sandstone in the Murchison region. Alto starts with an extensive database of assay results which hint at instances of very high grades among the historical workings. Over 10 years, Troy Resources extracted 508,000ozs of gold from 3.876 million tonnes of ore in a very lightly explored region. All going well, more up to date exploration techniques will be used to identify enough resources for processing at regionally convenient plants. More extensive drilling will be targeting deeper mineralisation and a larger resource for longer term mining plans. PortfolioDirect has classified Alto Metals as a Phase I company and rated it ‘3’ on the five point risk adjusted quality rating scale - with rating upside potential.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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