- Alta Zinc (AZI) upgrades the mineral resource estimate (MRE) for its Gorno zinc-lead-silver deposit in northern Italy
- The zinc grade has increased by 40 per cent compared to the previous 2017 MRE
- This has led to a more than three-fold increase in zinc in the updated MRE
- Drilling remains ongoing and is focussed on mineralisation outside the updated MRE
- On the market, Alta was up 15 per cent, trading at 9.2 cents per share
Alta Zinc (AZI) has upgraded its mineral resource estimate (MRE) for its Gorno zinc-lead-silver deposit in the northern Italian Province of Bergamo.
The company recently completed drilling programs in the new areas Pian Bracca and Ponente.
The zinc grade has increased by 40 per cent compared to the previous 2017 MRE, which has led to a more than three-fold increase to the amount of zinc metal to the updated MRE, in which more than 60 per cent is in the indicated category.
Alta’s updated MRE will support future mining and metallurgical studies to fast track the feasibility study and development of the Gorno Project.
Gorno’s mineralisation remains open in all directions outside of the MRE with further targets remaining to be drill tested from the current underground development.
The company will give an update on the large-scale potential of Gorno in an exploration target announcement, expected in the near future.
Managing Director Geraint Harris is pleased with the new MRE update.
“The outcome is a more than three-fold increase in the amount of zinc metal and a more than 40 per cent increase in the global metal grades contained in the mineral resource estimate for the Gorno deposit. This is partly due to an increase in the thicker and higher-grade mineralisation, found in the Pian Bracca corridor and at Ponente.
“We have been able to achieve this result with only 15 months of drilling by identifying outstanding drill targets, of which there still remains an abundance, close to or within the network of existing underground workings which offer cost-effective and efficient year-round drilling positions with zero environmental impact.”
Drilling remains ongoing and focused on mineralisation outside the updated MRE.
On the market, Alta was up 15 per cent, trading at 9.2 cents per share at 10:07 am AEST.