Alto Ventures Ltd.
Alto Ventures Ltd.
Projects

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Greenoaks

Introduction

The Greenoaks property lies adjacent to Alto's Miner Lake project and is located approximately 43 km northeast of the Town of Beardmore. Access is by the Trans Canada Highway 17 and then by Secondary Provincial Highway 801 which traverses the west end of the claim group. The property is 100% owned by Alto and is made up of 15 Mineral Leases that cover an aggregate of 409 hectares.

Geology and Mineralization

The property lies in the Onaman-Toshata domain just north of the Beardmore-Geraldton greenstone belt. The geology is complex and includes felsic and intermediate fragmental volcanic rocks intruded by felsic and mafic dykes. The volcanic rocks are in contact with the regional Elmhirst felsic pluton.

Gold occurs in northwest trending quartz veins hosted within a ductile shear zone cutting the meta-volcanic rocks. Four gold zones have been traces for over 500 m on surface. Historical drilling has intersected up to 35.3 g/t gold across 3.2 m. Drilling by Alto in 2007 intersected 12.5 g/t gold across 0.4 m and 7.08 g/t gold across 0.8 m. Surface saw-cut channel samples taken by Alto in 2008 returned 34.1 g/t across 1 metre

History

Alto Ventures acquired the property in 2004 and completed 5 diamond drill holes totalling 331 m in 2007. Two of the holes intersected visible gold with assays including 12.5 g/t gold across 0.4 m and 7.08 g/t gold across 0.8 m. Hole GRN07-05 is the deepest test of Zone 1, intersecting the zone at 50 m vertical depth. This hole cut 1.2 m of solid quartz vein containing 5% sulphides including pyrrhotite and chalcopyrite. The gold assays only 0.11 g/t but the intersection is very encouraging as it indicates that the vein system continues to depth. Additional drilling is required to further evaluate this property.

The 2008 program consisted of mechanical stripping, washing, sampling, mapping and prospecting of the various veins in preparation for diamond drilling. Exploration on the property confirmed the presence of four gold-quartz vein zones that extend for over 500 m along a northwest trending shear zone. Mechanical stripping and sampling programs returned gold values up to 59.5 grams per tonne (g/t). Of the 57 grab samples that were analyzed, 12% (7 samples) returned gold values >10 g/t, including 59.5 g/t; 42% (24 samples) returned gold values in the range from 1 g/t to 10 g/t; and 46% (26 samples) returned <1 g/t gold. Surface channel samples returned 34.1 g/t across 1 metre.

Earlier exploration in the area dates back to the 1940's. In 1947, gold was discovered in four zones that extend over 400 m along a west-northwest striking shear zone. The discovery generated a wave of exploration work that included stripping, trenching, and diamond drilling of 449 m (1473 feet) in 22 holes to test the No. 1 Zone. The zone was tested to 30 m (100 feet) vertical depth with intercepts up to 35.3 g/t gold across 3.2 m (1.03 oz/ton across 10.7 feet). In 1953 Greenoaks Mines Ltd completed electrical resistivity, ground magnetometer, and geological surveys and drilled 509m (1670 feet) in three holes to test newly located geophysical anomalies separate from the gold zones. This drilling did not intersect significant veining or gold mineralization.

Five holes totalling 302 m (991 feet) were drilled on the No 1 Zone in 1960. These holes confirmed the presence of veining and gold mineralization to 30 m vertical depth and included intercepts carrying up to 13.0 g/t gold across 1.06 m (0.38 oz/ton across 3.5 feet). In 1982, 1,224 tons of ore was mined and of this, 1,171 tons were milled at the Pan-Empire Mill in Beardmore returning an average grade of 0.18 oz/ton (6.1 g/t) gold. Northern Concentrators milled the remaining 53 tons in Thunder Bay and returned an average grade of 0.50 oz/ton (17.1 g/t) gold. In 1983, Turner Energy Resources Ltd reported results in a press release from six holes, 315 m (1033 feet) completed on the No 1 Zone. The drill intersections range from 2.7 g/t across 0.42 m (0.08 oz/ton across 1.4 feet) to 74.7 g/t across 0.76 m (2.18 oz/ton across 2.5 feet). The exact locations and details of these holes have not been found.

Maps


Greenoaks Trenches and Channel Sampling