The recovery in the gold price from its early March lows — ~$1,670s to over $1,825 currently — was mostly driven by the decline in real interest rates and, more recently a poor US jobs report and increasing inflation.

US core inflation in April came in at nearly 3%, surpassing even most the aggressive forecasts, according to The Felder Report.

“With inflation now rising much faster than interest rates, real rates have now fallen (inverted in the chart below) to a level that should be about as bullish for gold prices as anything we have seen in recent years,” Jesse Felder writes.

“Should these nascent trends in inflation and interest rates prove to be more than “transitory,” as Dr. Copper would seem to suggest, it would appear that the gold price could be significantly undervalued at present.”

That’s good news for gold plays, many of which are still trading well below their late 2020 highs.

USD gold price over the past 2 years.

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE [INTRADAY FRIDAY] MARKET CAP
TLM Talisman Mining 66 129 100 212 0.24 $ 43,857,670.48
ANL Amani Gold Ltd 50 50 50 0 0.0015 $ 21,573,993.49
MSR Manas Res Ltd 33 33 33 100 0.008 $ 19,321,915.19
VRC Volt Resources Ltd 25 100 200 275 0.03 $ 61,888,530.63
PF1 Pathfinder Resources 25 -5 45 0.275 $ 13,425,531.30
NWM Norwest Minerals 22 25 -13 -39 0.1 $ 10,557,497.36
YRL Yandal Resources 22 49 24 209 0.67 $ 64,489,539.42
AME Alto Metals Limited 21 11 -13 64 0.105 $ 54,031,168.20
TAR Taruga Minerals 21 100 88 453 0.094 $ 45,492,885.54
OAU Ora Gold Limited 20 20 0 41 0.024 $ 19,339,440.11
KCC Kincora Copper 19 41 0.345 $ 23,798,729.97
E2M E2 Metals 18 14 -62 175 0.33 $ 48,801,481.95
BAT Battery Minerals Ltd 18 -5 -20 300 0.02 $ 36,742,923.74
DCX Discovex Res Ltd 17 17 0 133 0.007 $ 17,980,648.53
AVW Avira Resources Ltd 17 0 -22 600 0.007 $ 9,625,280.00
TNR Torian Resources Ltd 16 27 78 249 0.057 $ 48,896,035.32
KSN Kingston Resources 16 0 -19 29 0.22 $ 63,840,812.85
STK Strickland Metals 14 4 -70 108 0.025 $ 10,107,636.50
FFX Firefinch Ltd 13 75 152 437 0.4025 $ 293,678,490.38
ANX Anax Metals Ltd 13 30 85 620 0.096 $ 31,516,550.10
SLZ Sultan Resources Ltd 12 58 14 185 0.285 $ 20,164,972.81
RSG Resolute Mining 10 22 -29 -43 0.575 $ 645,777,233.01
TTM Titan Minerals 9 22 -4 79 0.12 $ 131,037,029.91
ERM Emmerson Resources 9 -3 -6 -18 0.074 $ 36,869,648.19
TMZ Thomson Res Ltd 9 9 -7 794 0.125 $ 59,862,076.30
GML Gateway Mining 9 -7 32 127 0.025 $ 45,687,254.40
KTA Krakatoa Resources 9 0 -15 110 0.063 $ 17,294,900.00
PUR Pursuit Minerals 8 -20 371 1317 0.066 $ 44,290,311.88
NUS Nusantara Resources 8 6 -4 4 0.275 $ 63,050,076.93
PRS Prospech Limited 8 12 0 0 0.14 $ 8,777,779.52
DTM Dart Mining NL 8 0 -18 141 0.14 $ 13,992,366.64
PNR Pantoro Limited 8 10 8 59 0.215 $ 309,847,610.16
PDI Predictive Disc Ltd 7 6 29 40 0.088 $ 89,656,325.62
PNX PNX Metals Limited 7 7 -25 7 0.0075 $ 25,565,354.58
CLA Celsius Resource Ltd 7 21 31 411 0.046 $ 48,172,491.73
KAI Kairos Minerals Ltd 7 -6 -26 202 0.031 $ 53,646,109.57
MAT Matsa Resources 7 0 -37 -31 0.079 $ 25,100,909.84
GIB Gibb River Diamonds 6 -12 -57 53 0.066 $ 13,113,585.59
HRN Horizon Gold Ltd 6 2 22 87 0.42 $ 44,810,646.72
SVL Silver Mines Limited 6 21 13 183 0.255 $ 291,126,209.05
TSO Tesoro Resources Ltd 6 3 -49 308 0.185 $ 94,909,562.85
SSR SSR Mining Inc. 6 10 -20 21.65 $ 404,901,460.90
CHN Chalice Mining Ltd 6 23 131 606 7.73 $ 2,531,432,404.68
ARL Ardea Resources Ltd 5 -3 -1 102 0.495 $ 61,281,879.36
HMX Hammer Metals Ltd 5 0 127 335 0.1 $ 83,567,007.83
OKR Okapi Resources 5 14 3 64 0.205 $ 10,301,945.36
SBM St Barbara Limited 5 -5 -27 -25 2 $ 1,412,507,459.06
EVN Evolution Mining Ltd 5 9 -19 -12 4.85 $ 8,338,295,374.80
NCM Newcrest Mining 5 6 -7 -1 27.63 $ 22,736,999,231.44
DRE Drednought Resources 4 26 -11 300 0.024 $ 59,239,002.26
A1G African Gold Ltd. 4 -8 69 227 0.245 $ 22,309,171.78
ICG Inca Minerals Ltd 4 14 150 334 0.125 $ 50,531,550.00
NML Navarre Minerals Ltd 4 -11 -53 4 0.125 $ 65,549,058.12
MTC Metalstech Ltd 4 -7 -22 -11 0.125 $ 19,227,204.75
NES Nelson Resources. 4 2 18 148 0.084 $ 12,219,748.13
TIE Tietto Minerals 4 -5 -30 -19 0.295 $ 132,293,782.24
IVR Investigator Res Ltd 3 10 41 642 0.089 $ 116,507,301.42
GOR Gold Road Res Ltd 3 7 -4 -14 1.335 $ 1,184,784,458.11
WAF West African Res Ltd 3 4 -2 30 1 $ 865,386,917.50
SLR Silver Lake Resource 3 6 -8 -8 1.855 $ 1,648,545,839.05
NSM Northstaw 3 -17 -24 0.34 $ 13,400,000.00
DCN Dacian Gold Ltd 3 -3 -3 -13 0.34 $ 271,806,890.09
PKO Peako Limited 3 36 41 270 0.038 $ 7,298,058.73
ADT Adriatic Metals 3 5 -2 88 2.33 $ 428,503,703.04
ADN Andromeda Metals Ltd 3 -30 -19 268 0.195 $ 399,734,648.00
TAM Tanami Gold NL 3 1 4 86 0.08 $ 96,357,957.77
RMS Ramelius Resources 2 7 -8 27 1.7575 $ 1,428,600,301.83
MEU Marmota Limited 2 2 0 0 0.044 $ 42,615,482.36
NXM Nexus Minerals Ltd 2 -1 -48 91 0.088 $ 21,973,650.39
PRX Prodigy Gold NL 2 0 0 15 0.047 $ 27,289,497.48
WMX Wiluna Mining Corp 2 1 -44 -1 0.995 $ 124,953,350.94
MKG Mako Gold 2 10 1 82 0.1 $ 25,724,160.20
ONX Orminexltd 2 33 130 -15 0.053 $ 30,133,003.18
GWR GWR Group Ltd 2 2 82 417 0.31 $ 98,405,593.98
AGG AngloGold Ashanti 2 0 -14 -29 5.69 $ 506,700,105.20
BCN Beacon Minerals 1 6 7 -1 0.035 $ 121,839,888.93
HCH Hot Chili Ltd 1 -21 -26 88 0.0365 $ 110,790,995.94
MOH Moho Resources 1 -10 -37 12 0.076 $ 7,642,379.75
BNZ Benzmining 1 -1 0.795 $ 30,083,512.80
WGX Westgold Resources. 1 -8 -19 -7 2.045 $ 877,380,408.90
AUT Auteco Minerals 1 -9 -17 72 0.091 $ 136,344,567.43
CMM Capricorn Metals 1 13 6 22 1.83 $ 658,036,620.52
RND Rand Mining Ltd 0 -12 -37 -25 1.425 $ 81,048,244.43
A8G Australasian Gold 0.18 $ 5,629,539.97
MM8 Medallion Metals. 0 2 0.255 $ 20,447,019.71
MBK Metal Bank Ltd 0 -8 -15 44 0.011 $ 13,029,591.34
XAM Xanadu Mines Ltd 0 -19 40 107 0.06 $ 75,337,065.00
TIN Tnt Mines Limited 0 3 -42 3 0.16 $ 15,427,712.00
MRR Minrex Resources Ltd 0 9 0 167 0.024 $ 12,676,152.27
IPT Impact Minerals 0 -20 -27 23 0.016 $ 32,380,718.70
SFM Santa Fe Minerals 0 -3 -19 80 0.097 $ 7,063,422.53
FFR Firefly Resources 0 5 -44 364 0.105 $ 32,270,650.65
REZ Resourc & En Grp Ltd 0 -8 -46 147 0.037 $ 15,108,827.62
PUA Peak Minerals Ltd 0 -12 -12 73 0.022 $ 12,908,755.69
ALY Alchemy Resource Ltd 0 0 -20 49 0.016 $ 10,755,895.25
THR Thor Mining PLC 0 20 -14 200 0.018 $ 9,554,902.29
WCN White Cliff Min Ltd 0 -6 -47 240 0.017 $ 8,792,338.78
FML Focus Minerals Ltd 0 5 -20 20 0.3 $ 53,910,826.68
TRY Troy Resources Ltd 0 -8 -34 -19 0.066 $ 50,756,772.46
LCL Los Cerros Limited 0 -10 17 289 0.175 $ 82,695,372.38
WRM White Rock Min Ltd 0 -27 -14 10 0.44 $ 39,392,297.12
SVY Stavely Minerals Ltd 0 -5 -33 54 0.615 $ 163,100,907.50
OBM Ora Banda Mining Ltd 0 -22 -42 4 0.195 $ 160,022,171.83
MAU Magnetic Resources 0 -10 25 83 1.42 $ 309,593,355.80
TBR Tribune Res Ltd 0 -1 -24 -22 5.2 $ 270,210,596.55
DDD 3D Resources Limited 0 -10 -9 172 0.0045 $ 14,481,488.37
DTR Dateline Resources 0 -13 75 250 0.0035 $ 26,493,234.23
GUL Gullewa Limited 0 -7 -25 32 0.086 $ 15,684,086.60
KGM Kalnorth Gold Ltd 0 0 0 86 0.013 $ 11,625,120.78
LNY Laneway Res Ltd 0 -29 -33 25 0.005 $ 18,875,329.67
MZZ Matador Mining Ltd 0 27 3 103 0.405 $ 72,564,123.24
MLS Metals Australia 0 -20 0 100 0.002 $ 8,454,376.09
NAE New Age Exploration 0 13 38 500 0.018 $ 23,171,315.29
NPM Newpeak Metals 0 0 -33 0 0.002 $ 14,185,403.25
PNM Pacific Nickel Mines 0 -5 -9 -16 0.052 $ 10,532,521.84
RVR Red River Resources 0 -13 -25 225 0.205 $ 108,732,617.07
SIH Sihayo Gold Limited 0 18 -46 -4 0.013 $ 47,910,998.37
XTC Xantippe Res Ltd 0 0 0 0 0.002 $ 8,149,128.80
AAJ Aruma Resources Ltd 0 -6 -33 8 0.065 $ 6,887,460.26
SKY SKY Metals Ltd 0 -6 -36 -59 0.15 $ 35,764,225.06
MHC Manhattan Corp Ltd 0 0 -53 56 0.014 $ 21,367,901.70
CTO Citigold Corp Ltd 0 -15 -21 175 0.011 $ 30,580,000.00
RDS Redstone Resources 0 0 -14 140 0.012 $ 8,627,988.76
ARV Artemis Resources 0 9 -19 275 0.105 $ 119,360,253.29
TSC Twenty Seven Co. Ltd 0 -17 -29 -29 0.005 $ 10,642,758.24
MTH Mithril Resources 0 -17 -49 25 0.015 $ 32,903,262.57
AYM Australia United Min 0 -10 0 350 0.009 $ 16,583,197.37
MCT Metalicity Limited 0 -8 -37 243 0.012 $ 19,438,366.81
KCN Kingsgate Consolid. -1 -5 4 109 0.835 $ 186,636,400.50
PRU Perseus Mining Ltd -1 2 -5 12 1.2125 $ 1,471,748,244.00
AMI Aurelia Metals Ltd -1 -8 -20 35 0.3925 $ 493,895,950.00
DGO DGO Gold Limited -1 4 3 75 3.5 $ 257,431,118.00
GBR Greatbould Resources -1 161 101 192 0.094 $ 27,132,845.75
IDA Indiana Resources -1 5 29 349 0.084 $ 25,020,982.22
KZR Kalamazoo Resources -1 -8 -34 -10 0.415 $ 54,095,987.94
STN Saturn Metals -1 -1 -45 17 0.41 $ 46,672,771.65
NST Northern Star -1 -2 -30 -21 10.56 $ 12,320,856,276.21
NAG Nagambie Resources -1 -7 60 45 0.08 $ 39,994,587.68
BYH Bryah Resources Ltd -1 6 1 124 0.074 $ 11,669,078.61
BRV Big River Gold Ltd -1 -12 -14 45 0.37 $ 80,055,706.60
ARN Aldoro Resources -1 2 158 139 0.335 $ 24,496,441.92
AAU Antilles Gold Ltd -1 -24 31 168 0.066 $ 12,879,348.83
RRL Regis Resources -2 -15 -34 -45 2.585 $ 1,975,534,786.82
NVA Nova Minerals Ltd -2 -11 -19 197 0.1425 $ 233,792,530.58
MML Medusa Mining Ltd -2 -1 -1 17 0.795 $ 165,259,274.30
CST Castile Resources -2 -2 -10 112 0.265 $ 55,918,833.88
M24 Mamba Exploration -2 -19 0.22 $ 7,400,000.00
LEX Lefroy Exploration -2 -36 272 447 0.875 $ 109,808,845.31
AUC Ausgold Limited -2 -19 -26 207 0.043 $ 68,170,030.26
SAU Southern Gold -2 -12 -29 -32 0.082 $ 17,492,957.99
WWI West Wits Mining Ltd -2 -12 -2 613 0.082 $ 113,485,568.81
EMR Emerald Res NL -3 19 63 99 0.975 $ 499,935,290.79
MKR Manuka Resources. -3 -10 -21 0.375 $ 38,078,970.52
RED Red 5 Limited -3 16 -31 -10 0.185 $ 445,801,416.93
BRB Breaker Res NL -3 -22 -3 -3 0.18 $ 58,651,367.22
VMC Venus Metals Cor Ltd -3 -5 -27 6 0.175 $ 24,927,982.70
BNR Bulletin Res Ltd -3 -5 -18 33 0.069 $ 12,371,222.11
AWJ Auric Mining -3 -8 0.17 $ 6,883,782.46
RXL Rox Resources -3 -11 -39 36 0.034 $ 78,015,767.84
OZM Ozaurum Resources -3 -19 0.145 $ 7,022,700.00
ENR Encounter Resources -3 -9 -28 38 0.145 $ 45,756,736.94
AGC AGC Ltd -3 -20 0.14 $ 8,804,546.92
AGC AGC Ltd -3 -20 0.14 $ 8,804,546.92
ALK Alkane Resources Ltd -4 15 -20 9 0.815 $ 488,218,816.00
MEI Meteoric Resources -4 -5 -5 212 0.053 $ 69,683,951.57
TRM Truscott Mining Corp -4 9 4 213 0.025 $ 3,198,538.60
RML Resolution Minerals -4 0 -43 -60 0.025 $ 11,639,669.96
OKU Oklo Resources Ltd -4 -14 -46 -58 0.125 $ 60,483,577.44
PGD Peregrine Gold -4 28 0.345 $ 9,584,252.70
BAR Barra Resources -4 15 -39 5 0.023 $ 15,584,986.32
HRZ Horizon -4 0 0 19 0.115 $ 65,317,148.00
GBZ GBM Rsources Ltd -4 5 -39 60 0.11 $ 45,466,896.30
GED Golden Deeps -5 -13 -25 17 0.0105 $ 8,523,365.84
GMN Gold Mountain Ltd -5 -7 -9 -11 0.04 $ 30,708,996.96
AWV Anova Metals Ltd -5 -17 -31 100 0.02 $ 28,661,884.00
PAK Pacific American Hld -5 0 -20 100 0.02 $ 7,008,867.80
DEX Duke Exploration -5 18 18 0.39 $ 23,531,434.29
CAI Calidus Resources -5 -4 -34 44 0.39 $ 155,539,287.93
AAR Anglo Australian -5 -18 -40 -40 0.09 $ 54,777,779.71
CGN Crater Gold Min Ltd -5 -10 -47 80 0.018 $ 22,094,925.61
CYL Catalyst Metals -5 -6 -28 -33 1.97 $ 193,642,574.31
CAZ Cazaly Resources -5 29 18 130 0.053 $ 19,586,853.15
ZNC Zenith Minerals Ltd -5 112 96 223 0.265 $ 83,892,608.55
GSN Great Southern -5 -7 -38 -15 0.052 $ 23,661,061.84
AQX Alice Queen Ltd -6 -11 -39 -15 0.017 $ 18,641,580.67
LCY Legacy Iron Ore -6 -16 129 700 0.016 $ 96,071,077.76
MVL Marvel Gold Limited -6 -11 -19 94 0.047 $ 23,906,270.73
BC8 Black Cat Syndicate -6 -6 -3 64 0.705 $ 96,398,817.13
AMG Ausmex Mining Gp Ltd -6 -19 5 7 0.046 $ 23,834,718.50
VKA Viking Mines Ltd -6 -25 65 394 0.03 $ 28,595,236.07
MGV Musgrave Minerals -7 -3 -23 214 0.345 $ 186,628,032.15
CWX Carawine Resources -7 6 -13 38 0.275 $ 30,489,172.56
TRN Torrens Mining -7 -13 0.135 $ 9,164,399.00
AL8 Alderan Resource Ltd -7 -7 -36 91 0.067 $ 19,366,170.98
SMI Santana Minerals Ltd -7 0 -35 -38 0.13 $ 14,254,079.50
AOP Apollo Consolidated -8 -6 -5 22 0.305 $ 89,472,382.90
GSM Golden State Mining -8 -17 -50 -29 0.12 $ 10,343,544.75
RDN Raiden Resources Ltd -8 -8 -31 380 0.024 $ 30,307,579.53
GTR Gti Resources -8 -4 26 -17 0.024 $ 16,757,467.95
EM2 Eagle Mountain -8 7 157 579 0.95 $ 196,541,401.73
BDC Bardoc Gold Ltd -8 -3 -7 -10 0.071 $ 121,468,016.32
GRL Godolphin Resources -8 -8 -33 3 0.175 $ 15,139,875.96
S2R S2 Resources -8 13 -37 85 0.17 $ 53,531,500.43
HAW Hawthorn Resources -8 -17 -61 -56 0.045 $ 15,341,718.20
DLC Delecta Limited -8 -8 -21 38 0.0055 $ 5,547,416.63
SI6 SI6 Metals Limited -8 -35 10 450 0.011 $ 15,325,862.90
EMU EMU NL -8 -10 -23 159 0.044 $ 20,815,552.42
SPQ Superior Resources -8 -8 -35 193 0.011 $ 15,194,693.70
BTR Brightstar Resources -9 -11 -52 520 0.031 $ 14,072,024.45
MEG Megado -9 3 -23 0.155 $ 6,119,819.70
GMR Golden Rim Resources -9 11 -23 67 0.01 $ 26,703,496.79
SBR Sabre Resources -9 -17 -58 150 0.005 $ 8,415,318.25
TMX Terrain Minerals -9 -17 -23 100 0.01 $ 7,357,610.09
ADV Ardiden Ltd -9 -38 -62 150 0.01 $ 21,493,542.16
MRZ Mont Royal Resources -10 12 8 124 0.325 $ 11,931,165.23
KWR Kingwest Resources -10 -28 -54 -38 0.09 $ 14,642,920.00
CXU Cauldron Energy Ltd -10 -18 -22 33 0.036 $ 18,079,980.48
CBY Canterbury Resources -10 -14 -14 38 0.09 $ 10,067,867.73
KRM Kingsrose Mining Ltd -10 15 42 54 0.054 $ 42,340,426.42
RMX Red Mount Min Ltd -10 -18 -36 200 0.009 $ 11,261,902.40
CHZ Chesser Resources -10 -7 -46 81 0.13 $ 63,210,297.50
FAU First Au Ltd -11 6 -37 113 0.017 $ 10,448,688.82
DEG De Grey Mining -11 5 9 239 1.255 $ 1,871,096,038.45
ASO Aston Minerals Ltd -11 19 230 869 0.155 $ 126,396,127.21
NMR Native Mineral Res -11 2 0.31 $ 9,220,320.00
MDI Middle Island Res -12 -53 -64 -62 0.115 $ 14,687,489.16
SRN Surefire Rescs NL -12 -4 -30 667 0.023 $ 24,137,529.02
SNG Siren Gold -12 -46 -59 0.225 $ 13,960,053.90
BGL Bellevue Gold Ltd -13 -4 -40 42 0.825 $ 732,118,513.37
BMO Bastion Minerals -13 -13 0.17 $ 9,767,224.20
KAU Kaiser Reef -14 -18 -38 2 0.255 $ 24,202,088.50
AZS Azure Minerals -14 -24 -69 250 0.28 $ 89,344,859.09
CDT Castle Minerals -14 20 -4 71 0.012 $ 8,790,009.82
ZAG Zuleika Gold Ltd -15 -22 -45 46 0.035 $ 15,993,641.55
AGS Alliance Resources -15 -15 -18 28 0.145 $ 32,242,655.77
AXE Archer Materials -15 -21 39 64 0.715 $ 151,444,485.82
CEL Challenger Exp Ltd -17 -3 46 67 0.3 $ 170,042,005.77
AQI Alicanto Min Ltd -17 4 -14 76 0.12 $ 39,344,095.32
VAN Vango Mining Ltd -18 -25 -19 -47 0.061 $ 67,165,007.07
RGL Riversgold -19 -16 -7 258 0.043 $ 18,181,898.82
BBX BBX Minerals Ltd -20 33 -22 188 0.265 $ 121,374,575.87
GNM Great Northern -20 -11 -53 14 0.008 $ 9,672,407.81
CY5 Cygnus Gold Limited -20 -27 -43 167 0.12 $ 15,720,914.21
HXG Hexagon Energy -20 1 70 53 0.092 $ 40,141,244.43
G88 Golden Mile Res Ltd -20 -31 16 136 0.066 $ 12,461,631.19
HWK Hawkstone Mng Ltd -21 -27 161 275 0.03 $ 49,076,799.21
M2R Miramar -34 -30 -53 0.175 $ 7,600,953.60
ODY Odyssey Gold -3 82 130 124 0.18 $ 77,390,000.00

 

SMALL CAP STANDOUTS

TALISMAN MINING (ASX:TLM) +66%

Capital H’s Josh Baker reckons that the flagship asset of gold-copper explorer Talisman is actually a royalty over the Wonmunna iron ore project, acquired when it sold off the project in 2011.

The project is now owned by Mineral Resources (ASX:MIN), which is currently drilling to grow the resource.

“As such, we think there is a strong likelihood that the scope of the deposit will be expanded and able to support a 10Mtpa scale operation for 5yrs+,” Baker says.

“At the current average price for 58% graded ore for CY21 to date (~USD142/t), this implies a revenue run-rate of ~$9 million p.a. from TLM’s royalty.

“Should MIN be successful in doubling the production run-rate asap, it would imply a revenue run-rate of ~$18 million p.a. on the same assumptions, in stark contrast to [Talisman’s] current $37 million market cap.”

 

NORWEST MINERALS (ASX:NWM) 22%

This quiet but industrious explorer was rerated in early trade Tuesday by a monster gold intercept at the 100,000oz ‘Bulgera’ project – 16m at 7g/t from 120m, to be exact.

That intercept is probably bigger, because the hole ended in 18.5g/t mineralisation.

The historic Bulgera project in WA remains underexplored, both along strike and at depth.

“The continuity of these relatively shallow, wide, high-grade drill intersections demonstrates Bulgera’s significant potential, especially with one of the holes ending in very-high grade mineralisation at only 210 metres,” managing director Charles Schaus says.

“We are very keen to recommence drilling to test for downdip extensions of this gold-rich zone.”

 

ALTO METALS (ASX:AME) +21%

Another big gold hit.

Alto pulled up 4m at 60.6g/t from 40m, 240m away from the known mineralisation at ‘Vanguard’, part of the Sandstone project in WA.

There was a bunch of other good results, like 8m at 3.1g/t from 8m.

A total of 13 drill holes for over 2,600m are pending for Vanguard and a further 30 drill holes for over 6,300m from the ‘Lords Corridor’.

“Our wide-spaced, step-out drilling has now confirmed gold mineralisation over two kilometres, and it remains open along strike and down dip,” Alto managing director Matthew Bowles says.

“We can see Vanguard continuing to grow and plan to systematically test both the Vanguard and Vanguard North trends, along with the overall 20 kilometre corridor of differentiated dolerite that hosts Vanguard, Havilah and Indomitable deposits.

“Coming on the back of the ongoing success we are having at the Lords Corridor, where drilling is ongoing, these outstanding results from Vanguard validate our approach and view of a much larger gold system at our Sandstone Gold Project.”