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Alto Metals to buy surface prospecting rights at Sandstone gold project

Alto Metals Ltd. said Jan. 17 that it will purchase the rights to prospect and search for gold in workings down to two meters deep at the Sandstone gold project in Western Australia from Sandstone Exploration Pty. Ltd. in exchange for 3 million Alto shares.

"The Sandstone area is well known for its significant deposits of alluvial and specimen gold, and the purchase of the two meter prospecting and fossicking rights will give Alto control over and the right to extract any shallow gold deposits discovered on its tenements," Alto Managing Director Dermot Ryan said.

The company is rebuilding momentum for Sandstone, assisted by a unique model involving a "high-powered" research committee.