Alto Ventures Ltd.: 8.26 g/t Gold Over 3.35 Metres Intersected at the Sanders Zone-East Coldstream Deposit, Ontario
26 Luglio 2011 - 12:00PM
Marketwired
Key Point Summary:
-- 8.26 g/t gold over 3.35 metres within 32.75 metre-wide zone averaging
1.03 g/t gold in hole C-11-71
-- 2.27 g/t gold over 1.80 metres in drill hole C-11-70
Alto Ventures Ltd. (TSX VENTURE: ATV) ("Alto") and Foundation
Resources Inc. (TSX VENTURE: FDN) ("Foundation") are pleased to
announce the results of two drill holes from the Sanders Zone of
the East Coldstream Gold Deposit ("Deposit"), Northwestern Ontario.
These completed holes are part of a 6,000-metre drill program
comprised of two main objectives: A) expanding the Deposit both
laterally and down-plunge, and B) further exploring and developing
the high-grade gold discovery (8.39 g/t gold over 11.0m - News
Release dated March 22, 2011) as a result of a successful 2011
winter drilling program at Iris Lake. The Iris Lake discovery is
located approximately 1500 metres north of the East Coldstream
Deposit. Foundation is the operator of this program and owns 60%
interest in the Property. Alto owns the remaining 40%.
Table of Significant Gold Assays
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Gold(ii)
From To Width(ii) (grams/
Drill Hole (metres) (metres) (metres) tonne)
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C-11-70 233.10 234.90 1.80 2.27
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C-11-71 158.75 191.50 32.75 1.03
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Including 181.70 189.85 8.15 3.61
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Including 186.50 189.85 3.35 8.26
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(ii) Mineralized zones generally start at 0.1 g/t gold and assay averages
may include minimal intervals of waste material. No top cuts of assays
were used.
All intervals are represented as down-hole core lengths with
true widths estimated at 70 to 75 percent.
Both drill holes were designed to test the down-plunge extension
of the Sanders Zone, which is one of the four gold zones comprising
the 1.5 kilometre strike-length of the East Coldstream Deposit.
Drill hole C-11-70 tested the Sanders Zone at a vertical depth of
165 metres, piercing at approximately 65 metres below drill hole
C-11-56. Hole C-11-71 was drilled to a 113-metre vertical depth to
the east of C-11-56 and 50 metres vertically below the historical
hole EC-89-1. It intersected a 32.75-metre wide mineralized zone
averaging 1.03 g/t gold, including 3.61 g/t and 8.26 g/t gold over
8.15 m and 3.35 m, respectively. A third hole C-11-72 has also been
completed at the Sanders Zone (News Release dated July 11, 2011) of
which the results are still pending. This drill hole tested the
Sanders Zone to a vertical depth of 170 metres, and has pierced
roughly 50 metres below the hole C-11-71 and east of hole
C-11-70.
Quality Assurance/Quality Control (QA/QC)
Foundation has implemented a quality control (QA/QC) program
which includes the use of commercially produced standards and
blanks. Samples of split NQ core are transported by Company
personnel to the sample preparation lab of ALS Chemex Laboratory in
Thunder Bay where they were crushed and a 1000-gram pulp was
prepared. The pulp was then shipped to ALS Chemex Laboratory in
North Vancouver, B.C. for analyses. The gold assaying method uses a
standard Fire Assay with ICP-AES technique on a 30-gram pulp
material taken from a 1000g split from the submitted sample. For
more details of QA/QC procedures, please refer to Foundations July
21, 2010 news release.
Ike Osmani, M.Sc., P.Geo., the President of Foundation and the
Qualified Person for the Coldstream Project supervises the drill
program and has reviewed and approved the technical content of this
news release.
About the East Coldstream Deposit
The East Coldstream Deposit is hosted within mafic to
intermediate metavolcanic rocks which have been intruded by
dike/sill-like bodies of quartz-feldspar porphyries and gabbros.
All these rock types have been variably altered (silica, hematite,
carbonate, chlorite) and deformed by east- to east-northeast
striking North Coldstream Shear/Deformation Zone. Gold is
associated with 1 to 5 percent, fine-grained pyrite.
About the Coldstream Property
The 6,234-hectare Coldstream Property is located along the Trans
Canada Highway 115 km west of the City of Thunder Bay, Ontario. The
area is road accessible and has excellent infrastructure with a
major power line and CN rail line passing just north of the
property. Skilled labour is readily available locally.
For more details regarding the Coldstream Property, please visit
our website at: www.altoventures.com
About Alto Ventures Ltd.
Alto Ventures Ltd. is an exploration and development company
with a portfolio of highly prospective Canadian gold properties.
The Company is active in Quebec in the Abitibi greenstone belt
where it has a number of projects including the Alcudia and Destiny
gold properties. In Ontario, the Company is exploring in the
Beardmore-Geraldton gold belt and the Coldstream project in the
Shebandowan gold district. In the Chilcoten Plateau of British
Columbia, the Company is exploring the Chilko project near the
Newton gold deposit.
ON BEHALF OF THE BOARD,
Richard J. Mazur, P.Geo., CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Alto Ventures Ltd. Mike Koziol President and Director
705-522-6372 705-522-8856 (FAX) koziol@altoventures.com
www.altoventures.com Alto Ventures Ltd. Matt Terriss Director of
Corporate Affairs 604-638-3947 604-689-3609 (FAX)
terriss@altoventures.com www.altoventures.com
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