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Alto Metals managing director ups stake through on-market trades

The purchases increase Dermot Ryan's holding in the company to more than 7.4 million shares.
Alto recently intersected high-grade gold in Western Australia

Alto Metals Ltd (ASX:AME) managing director Dermot Ryan has purchased 329,613 shares through on-market trades for a total consideration of $16,151.

The purchases increase Ryan’s indirect holding in the company to 7,420,141 shares and 3,750,000 performance rights.

READ: Alto Metals intersects 40 metres at 3.5 g/t gold at Sandstone, confirms geological models

Alto recently intersected high-grade gold in a pair of reverse circulation holes at the Vanguard and Tiger Moth prospects within its wider Sandstone Gold Project in Western Australia.

The hole at Vanguard intersected 40 metres at 3.5 g/t gold from 60 metres, including 12 metres at 5 g/t from 60 metres, while Tiger Moth’s hole intersected 8 metres at 4.1 g/t from 52 metres.

A number of assay results from aircore drilling completed in May and June have also indicated additional mineralisation across three other Sandstone prospects.

READ: Alto Metals reveals maiden gold resource at Indomitable and Vanguard Camp deposits

Alto holds about 800 square kilometres of prospective ground in the Archaean Sandstone Goldfield in the East Murchison mineral field of Western Australia.

Since acquiring the project in 2016, the company has compiled and reviewed a large legacy database ahead of a series of focused exploration and drilling campaigns.

Alto’s goal is the delineation of a plus-1 million-ounce JORC mineral resource that could become the basis for the re-establishment of standalone oxide and primary gold mining and milling operations.

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