# ARO: Guajaraz Drill Program Update - Final Holes Underway Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/aro-guajaraz-drill-program-update-final-holes-underway--acdcf839-dc62-409b-abc7-1b62f5e10d57 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145009 Publisher: asx Original announcement: 2026-09-28T22:08:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T17:02:37.825Z Atlas analysis updated: 2026-09-29T17:02:37.825Z - Company: Altoro Metals Limited - Ticker: ARO - Exchange: ASX - Region: Toledo Province, central Spain - Primary commodity: Zinc - Secondary commodities: Lead, Silver, Copper - Document categories: Drill results, Other - Extracted: 2026-09-29 17:02:38 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Altoro Metals has completed three holes \(G-02, G-03, G-04\) as part of its maiden diamond drilling programme at the Guajaraz Zn-Pb-Ag Project in Spain. While visual evidence of zinc sulphide and hydrothermal alteration has been noted, assay results are not expected for approximately 4-6 weeks. Reasoning: The update provides progress on a maiden drilling programme but lacks quantitative assay data to confirm grade or scale. Positive geological observations \(sphalerite, alteration\) are offset by the lack of assays and technical drilling issues. - Positive factor: Confirmation of zinc sulphide mineralisation via sphalerite veinlets in G-03 - Positive factor: Identification of new structural constraints in G-04 and G-05 - Positive factor: Visual evidence of hydrothermal alteration and mineralisation in G-05 - Negative factor: No assay results reported yet - Negative factor: Technical failure requiring redrilling of G-01 - Negative factor: Geological complexity higher than initial models suggested Facts used in scoring: 1 ## Classification and evidence **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: The release states assay results are expected within 4-6 weeks and does not detail specific QA/QC protocols or lab certification for the completed holes. Evidence · text > assay results expected within 6 weeks **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The programme targets the historical La Unión mineral system and seeks to test the broader system around historical workings. Evidence · text > seeks to test the broader mineral system around and beneath the historical workings ## Extracted facts Stored fact records: 1. Some facts used in scoring do not have a stored record. ## Drill Results (1) ### G-03 [Link to this fact](https://atlas-staging.minestarters.com/news/aro-guajaraz-drill-program-update-final-holes-underway--acdcf839-dc62-409b-abc7-1b62f5e10d57#fact-drill-facts-0) Guajaraz Zn-Pb-Ag · zinc #### Identity - Hole ID: G-03 - Project: Guajaraz Zn-Pb-Ag - Commodity: zinc - Region: spain - Reported Region: spain - Ticker: ARO #### Geometry - Intercept: 121 m - From: 121 m - To: 242 m - Intercept Depth: 121 m #### Classification - Program: exploration - Sample Type: drill - Group ID: G-03:121-242 #### Location - Location: Central Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: Intersection of brown sphalerite veinlets provides visual evidence of zinc mineralisation at depth. - Positive factor: Visual confirmation of zinc sulphide mineralisation - Negative factor: No assay results available to confirm grade Evidence · text > G-03 intersected a number of brown sphalerite veinlets, providing evidence of zinc sulphide mineralisation #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "1,400 metres of drilling, designed principally to test for deep-seated carbonate-hosted replacement-style zinc mineralis" ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.