Alto Metals Limited (ASX: AME) is an Australian public company which listed on the Australian Securities Exchange on the 20 December 2012 as Enterprise Uranium Limited (ASX: ENU). Between 2013 and 2014, uranium was the primary exploration target and a portfolio of projects prospective for sand hosted uranium deposits was assembled and explored.
During 2015, the Company commenced an active search for an advanced gold and/or base metals project. On 23 March 2016, an agreement was signed to purchase Sandstone Exploration Pty Ltd, the owner of the Sandstone Gold Project. Shareholders subsequently approved a company name change from Enterprise Uranium Limited to Alto Metals Limited, and in June 2016 Alto completed the purchase of Sandstone Exploration Pty Ltd. For details of the acquisition agreement, refer:
The Sandstone Gold Project is located 600km northeast of Perth in Western Australia, and lies within the Southern Cross Domain of highly prospective Archaean Yilgarn Craton, where infrastructure is good relative to other more remote parts of Australia.
Alto believes there is potential to find major new plus million ounce gold deposits in areas of shallow cover in Western Australia. The Company makes extensive use of airborne geophysics to “see through” shallow cover and identify conceptual geological targets.
At 31 Dec 2016, Alto had 151.8 million shares on issue and 100% ownership of the 724km2 Sandstone Gold Project. The Company’s immediate objective at Sandstone is to discover mineral resources containing at least one million ounces of gold, and to establish a profitable mining operation.
Alto has an experienced Board of Directors with extensive skills in exploration, mining, accounting, corporate governance and provision of corporate advice. The Company currently has 724 km2 under granted title at Sandstone.