Alto Ventures Ltd. (TSX VENTURE: ATV) -
-- Inferred Resource contains approximately 763,200 ounces of gold
-- Indicated Resource contains approximately 96,400 ounces gold
-- East Coldstream Deposit occurs at surface and is open in both strike and
dip
-- Awaiting assay results from recent drilling at Iris Lake located 1.5 km
north of the East Coldstream Deposit
Alto Ventures Ltd. ("Alto") and Foundation Resources Inc. (TSX
VENTURE: FDN) ("Foundation") are pleased to announce the receipt of
a draft of an NI 43-101 Technical Report ( the "Report") including
a Mineral Resource Estimate for the East Coldstream Gold Deposit
("Deposit") located on the Coldstream Property (the "Property) in
Northwestern Ontario. There are currently four other significant
gold targets (e.g., Iris Lake, Goldie Zone, Burchell West and Span
Lake) on the Property which are not part of the current resource
estimates. The Report was prepared by Wardrop, a Tetra Tech Company
(Wardrop) and incorporates over 26,000 m of drilling that was
completed on the deposit. Foundation is the operator of this
project and owns 60% interest in the Property. Alto owns the
remaining 40%.
Indicated and Inferred resources have been determined for the
East Coldstream Deposit (see Table 1). At a cut-off grade of 0.4
g/t gold and using the Inverse Distance Squared (ID2) estimation
method, the two parallel gold horizons contain an Indicated
Resource of about 3.5 million tonnes with an average grade of 0.85
g/t gold. In addition, the Inferred Resource totals approximately
30.5 million tonnes with an average grade of 0.78 g/t gold. Table 1
provides a summary of the Resource Estimate at the 0.4 g/t cut-off.
The Deposit is estimated to contain 763,276 ounces of gold in the
Inferred category and 96,400 ounces of gold in the Indicated
category.
Table 1. East Coldstream Deposit Resource Estimation Summary at 0.4
g/t gold cut-off (using ID2 method)
--------------------------------------------------------------------
Tonnes Above Average
Class Horizon Cut-off Grade Grade (g/t) Au Ounces
--------------------------------------------------------------------
Inferred EC-1 20,732,000 0.77 515,454
--------------------------------------------------------------------
EC-2 9,801,000 0.79 247,822
--------------------------------------------------------------------
Total 30,533,000 0.78 763,276
--------------------------------------------------------------------
--------------------------------------------------------------------
Indicated EC-1 1,371,900 0.89 39,376
--------------------------------------------------------------------
EC-2 2,144,800 0.83 57,024
--------------------------------------------------------------------
Total 3,516,700 0.85 96,400
--------------------------------------------------------------------
The Deposit is made up of two parallel horizons of strong
alteration and deformation, the EC-1 and EC-2. These horizons
contain "shoots" of significant gold mineralization. The EC-1 in
this Report is the southern horizon and includes the previously
known Main and Sanders zones which are on strike with each other
and are connected by areas of low gold mineralization (see Figure
1). The EC-2 in this Report lies north of EC-1 and includes the
previously referred North and East zones. These zones are also on
strike with each other and are also connected by areas of lower
grade gold mineralization. The EC-1 and EC-2 horizons appear to
converge at depth into one wide zone of mineralization.
Table 2. Cut-off Sensitivities for the East Coldstream Deposit Resource
Estimate
------------------------------------------------------------------------
ID2 Cut-off Average Grade Contained
Class (Au g/t) Tonnes (Au g/t) Ounces Au
------------------------------------------------------------------------
Inferred 0.2 55,563,000 0.56 994,157
------------------------------------------------------------------------
0.3 40,768,000 0.67 876,682
------------------------------------------------------------------------
0.4 30,533,000 0.78 763,276
------------------------------------------------------------------------
0.5 23,001,000 0.89 655,104
------------------------------------------------------------------------
0.6 16,976,000 1.01 549,109
------------------------------------------------------------------------
------------------------------------------------------------------------
Indicated 0.2 5,814,100 0.63 117,672
------------------------------------------------------------------------
0.3 4,514,500 0.74 107,522
------------------------------------------------------------------------
0.4 3,516,700 0.85 96,400
------------------------------------------------------------------------
0.5 2,807,200 0.96 86,194
------------------------------------------------------------------------
0.6 2,251,400 1.06 76,383
------------------------------------------------------------------------
A cut-off grade of 0.4 g/t gold was selected to tabulate the
total resources based on the results of similar gold projects
located in Ontario and Quebec. In addition, the following
parameters were considered; 4:1 stripping ratio, operating costs of
$14.30/tonne at 10,000 tonnes per day, long term gold price of
$US1,139/troy ounce, $US to $Cdn conversion of 1.00, and gold
recovery of 95%. The resources block considers the mineralization
to start at surface down to a depth of 400 m vertical for the
deepest zone.
Mineral Resources are not Mineral Reserves and by definition do
not demonstrate economic viability.
Resource Classification and Description of Block Model
Several factors were considered in the definition of a resource
classification including: National Instrument 43-101 requirements,
Canadian Institute of Mining, Metallurgy and Petroleum guidelines,
the report author's experience with Archean and Proterozoic gold
deposits, and spatial continuity based on variography of the assays
within the drill holes.
Individual block models were established in Datamine for the
zones using one parent model as the origin. Drill hole spacing
varies from 25 m to 50 m. A block size of 10 x 10 x 10 m was
selected in order to accommodate the drilling spacing and the
nature of the mineralization. Sub-celling of the block model was
used to allow the parent block to be split once in each direction
to more accurately fill the volume of the wireframes, thus more
accurately estimate the tonnes in the resource.
The interpolations of the two zones were completed using the
Inverse Distance Squared (ID2) estimation method. The global block
model statistics for the ID2 model were compared to the Nearest
Neighbour (NM) model and the Ordinary Kriging (OK) model. In
general there is agreement between the three models and larger
discrepancies were reflected as a result of lower drill density in
some portions of the model.
A copy of the final Report will be filed on SEDAR within 45 days
of the date of this news release.
To view the Map associated with this release, please visit the
following link:
http://media3.marketwire.com/docs/atv920_F01.pdf.
Qualified Person
Todd McCracken, P.Geo., is a Qualified Person ("QP") for
purposes of NI 43-101. He is responsible for preparing the Report
and the Resource Estimate disclosed in the Report. Mr. McCracken is
an employee of Wardrop, and independent from the Companies as
described in section 1.5 of NI 43-101. He has read and approved the
technical disclosure in this press release.
About the East Coldstream Gold Deposit
The East Coldstream Gold Deposit is only one of several areas of
significant gold mineralization on the Coldstream Property. Other
areas include Iris Lake, Span Lake, Goldie Zone and Burchell West.
The Iris Lake area is located 1.5 km north of the Deposit and
drilling during the 2011 winter program intersected 8.39 g/t gold
over 11 m (see news release dated March 22, 2011). Further drilling
was carried out at Iris Lake as part of the recently complete 6,000
m summer program on the Coldstream Property. Results for the holes
drilled in the Iris Lake area are pending.
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 6,250 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 on
the Destiny gold property and in Ontario, exploring in the
Beardmore-Geraldton gold belt and the Coldstream project in the
Shebandowan gold district.
ON BEHALF OF THE BOARD
Richard Mazur, P. Geo., CEO
Neither 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 Alto
Ventures Ltd. Richard Mazur CEO & Director 604-689-2599
604-689-3609 (FAX) info@altoventures.com www.altoventures.com
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