Altamin Strikes High-Grade Zinc at Gorno with Final Channel Samples
Record-Breaking Grades From Final Channel Sampling Program
Altamin Limited (ASX: AZI) has announced exceptional results from the fourth and final batch of its 2024 channel sampling program at the Gorno zinc-lead-silver project in Italy. The results highlight remarkable high-grade mineralisation outside the current resource footprint, reinforcing the significant resource expansion potential of the project.
The standout results from the sampling program include some of the highest-grade zinc intercepts reported globally in recent years:
- VCH133: 1.55m @ 47.1% Zn, 4.4% Pb, 84g/t Ag
- VCH137: 1.8m @ 44.9% Zn, 15.1% Pb, 179g/t Ag
- VCH123: 1.2m @ 35.7% Zn, 7.9% Pb, 46g/t Ag
- VCH135: 1.7m @ 35.2% Zn, 18.6% Pb, 148g/t Ag
These results are particularly notable for their combined zinc-lead values, which reach up to 60% in sample VCH137, representing exceptional grades by global standards for base metal projects.
Expanding Beyond Current Resource Boundaries
The latest channel sampling work at Gorno focused on two key target areas at the 1025m Parina mine level and sublevels in the far east of Pian Bracca:
- Parina East: A series of access and development drives
- Pian Bracca North: Development drives and historic stopes north of the Pian Bracca orebody
These newly sampled areas had previously been inaccessible and required rehabilitation work to allow the geology team to safely access, map, and sample them. The results demonstrate that high-grade Pian Bracca-style mineralisation, characterised by multiple stacked mineralised horizons, extends beyond the existing Mineral Resource Estimation (MRE) boundaries.
| Target Area | Key Finding |
|---|---|
| Parina East | High-grade assays beneath current Ore Block Model (OBM), indicating downward extension of mineralisation |
| Pian Bracca North | Mineralisation continues east and north of existing MRE with multiple high-grade intercepts |
"These exceptional results further demonstrate the high-grade nature of our Gorno project and confirm our belief that significant resource growth potential exists beyond the current resource boundaries," states Altamin's management.
The sampling results from Parina East revealed several high-grade assays along development drive 1025L, situated underneath the current Ore Block Model. This area represents a prospective gap in the current resource, and the new results support visual observations indicating that mineralisation continues down dip, effectively closing this gap and allowing for a down-dip extension of the modelled horizon.
Similarly, assay results from Pian Bracca North, beneath the historic Pian Bracca stoping area, reveal that Pian Bracca-style mineralisation continues to the east and north of the existing MRE, with particularly impressive high-grade results from sublevels spanning across mine levels 1020 to 1030m.
Understanding Stratiform Zinc Deposits: Why Gorno's Geology Matters
As investors explore Altamin Ltd zinc discovery at Gorno, it's important to understand the geological context that makes this project particularly valuable. Gorno hosts an Alpine-Type Lead-Zinc deposit, similar to Mississippi Valley Type deposits, which represents a globally significant type of zinc mineralisation.
These deposits are characterised by:
- Stratabound mineralisation: The zinc-lead-silver ore is largely confined to specific limestone formations
- Simple mineralogy: Low-iron sphalerite, galena, pyrite and minor silver, ideal for producing clean concentrates
- Predictable geometry: Generally tabular bodies dipping southeast at 5-45 degrees
This geological setting allows for relatively predictable mineralisation patterns, making resource expansion drilling and sampling programs highly effective. The recent results confirm that the mineralisation follows expected patterns but extends further than previously documented.
Alpine-Type deposits like Gorno are known for hosting high-grade zinc mineralisation with relatively simple metallurgy, making them attractive for development. The low iron content in the sphalerite is particularly noteworthy, as it typically allows for the production of premium zinc concentrates that command higher prices from smelters.
Sampling Program Details and Quality Control
The sampling program maintained rigorous quality control standards to ensure reliable results:
- 50 samples from 26 channels were collected in the final batch
- Samples were taken perpendicular to the mineralisation dip
- All accessible drives were sampled at regular spacing of <40m
- QA/QC samples (blanks, duplicates, standards) were inserted at a rate better than 3 in 20
- Channel samples were cut using diamond disc saws and carefully collected to maintain representative sample sizes
The sampled areas were previously inaccessible and required rehabilitation work before the geology team could safely enter the areas, capture the development using LiDAR technology, and conduct sampling. Detailed geological and ore mapping identified that these areas, despite undergoing historic partial extraction, contain significant Zn-Pb-Ag mineralisation that was not previously captured in the Mineral Resource Estimation.
Out of the 26 channels sampled in this final batch, 13 returned significant intersections, with results reported at a cut-off grade of 1.0% Zn and an internal dilution of a maximum of two consecutive samples with grades less than or equal to 1.0% Zn.
Future Plans and Resource Growth Potential
The results from all four batches of the 2024 channel sampling program create significant potential for resource growth at Gorno. The program has:
- Identified high-grade mineralisation outside the current resource boundaries
- Improved understanding of geological and rheological controls on mineralisation
- Optimised targeting for future exploration programs
- Demonstrated that multiple areas remain open for expansion
As investors explore Altamin Ltd zinc discovery at Gorno, it's clear that these results could have a meaningful impact on the project's overall resource base. Similar to how Vital Metals secured funding to advance their project, the consistent identification of high-grade mineralisation in previously unexplored areas suggests that the current resource may significantly underestimate the project's potential.
"The quality of these results reinforces our view that Gorno represents one of the highest-grade zinc development projects globally, with substantial room for resource growth as we continue to explore the extensive historical workings," notes Altamin management.
Investment Thesis: Why Gorno Stands Out
Altamin's Gorno project offers investors exposure to one of the highest-grade zinc development assets globally, with several key advantages:
- Exceptional grades: The latest results feature zinc grades up to 47.1%, far exceeding typical economic cutoff grades for zinc mines globally
- European location: Situated in Italy's Lombardy region, offering a stable jurisdiction and proximity to European zinc smelters
- Historical infrastructure: Leveraging 230km of existing underground development, significantly reducing capital requirements
- Clean concentrate potential: Simple mineralogy likely to produce premium concentrates with minimal deleterious elements
These latest results strengthen the case for Gorno as a potential premier zinc development project at a time when zinc plays an increasingly important role in the global energy transition. Zinc is essential for galvanizing steel used in renewable energy infrastructure, particularly wind turbines and solar mounting systems, making high-grade resources like Gorno strategically valuable.
The European location adds further strategic value, given the EU's focus on securing domestic supply chains for critical minerals to support its energy transition and reduce reliance on imports. This strategic positioning is comparable to the significance of Great Western Exploration's copper-gold discovery in terms of resource importance in the current market.
Why Investors Should Follow Altamin
As investors continue to explore Altamin Ltd zinc discovery at Gorno, there are several key factors that make this an interesting development story:
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Resource expansion potential: The latest results confirm that significant mineralisation exists beyond the current resource boundaries, suggesting potential for meaningful resource growth.
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Historical context: Gorno was historically one of Italy's most important zinc mining districts, with operations dating back centuries. Modern exploration techniques are now revealing the full potential of this district.
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Infrastructure advantages: The project benefits from extensive existing underground development, which can significantly reduce capital costs and accelerate development timelines.
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Strategic location: As Europe focuses on securing domestic supply chains for critical minerals, Gorno's location provides a potential domestic source of high-grade zinc.
As investors explore Altamin Ltd zinc discovery at Gorno, it's evident that these latest results underpin the project's potential as one of the highest-grade zinc development opportunities globally. Furthermore, Warriedar Resources' discovery of high-grade antimony and Lunnon Metals' discussions with Gold Fields highlight the increasing industry focus on high-grade strategic mineral assets. The exceptional grades, European location, and expansion potential combine to create a compelling investment case at a time when critical minerals are increasingly in focus.
The consistent identification of high-grade mineralisation beyond the current resource boundaries suggests that continued exploration could significantly enhance the project's scale and economic potential, potentially positioning Gorno as a cornerstone zinc development project in Europe.
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