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Mud Lake

Mud Lake Project, Ontario

Highlights

Gold mineralization discovered along 6 km shear zone
Twelve gold occurrences identified by trenching, some of the better assays from grab samples include

30.0 g/t gold from Showing #1
50.6 g/t gold from Oliver Severn Showing
19.8 g/t gold from Showing #6
8.1 g/t gold from Clarke Showing

Drilling intersected up to 13.9 g/t gold across 1.0 m within 6.1 m wide mineralized zone averaging 3.3 g/t gold
Induced Polarization survey outlined 20 anomalies
Airborne geophysics in 2008 have outlined additional areas of interest

Location and Access

Elmhirst Township, approximately 25 km northeast of Beardmore, Ontario
North of the Brookbank Property owned by Ontex Resources and south of the Hercules Property operated by Kodiak Exploration
Access by Secondary Provincial Highway Number 801 and old logging roads

Size

2, 592 hectares

Ownership

100 % Alto Ventures Ltd.

Mud Lake Project, Ontario

Maps

	Alto Projects in the Beardmore-Geraldton Gold Belt	Beardmore properties in Relation
Mud Lake Property Beardmore-Geraldton District

Mud Lake Project, Ontario

Geology

6 km long shear zone (Mud Lake Shear) cutting through Archean age Coyle Lake felsic intrusive
Alteration of sheared rock includes sericite, carbonate, silica, chlorite, pyrite, magnetite and hematite
Gold mineralization is associated with quartz and quartz-carbonate veins that occur as shear-parallel en-echelon veins, gold also occurs associated with pyrite stringers and quartz-microveins within the shear

History

The Beardmore-Geraldton Gold Belt has historically produced over 4.1 million ounces of gold. Exploration work on the property dates back to the 1930's and consisted of mainly prospecting, ground geophysical surveying and trenching. In the late 1980's Noranda Exploration carried out an extensive program of geological mapping and trenching. Frank Houghton, a Beardmore prospector continued to prospect and trench the area until 2004 when Alto Ventures entered into an Option to Purchase Agreement with Houghton. Alto carried out geological mapping in 2005 to better understand the distribution of the gold occurrences and controls on gold mineralization. The Company also completed line cutting and 16.9 km of Induced Polarization surveying. The geological work has confirmed the presence of 12 gold occurrences along the 6 km Mud lake Shear Zone and recognized that gold is associated with quartz and quartz carbonate veins as well as pyrite stringers within shear zones in areas where quartz veining is not abundant. The IP work has identified 20 anomalies that could be related to sulphide (pyrite) mineralization and possibly gold that is associated with the sulphides. In February, 2007 Alto drilled 12 holes totaling 753 m to test three (Clarke, Oliver Severn and Showing #6) of the 12 showings. A fall exploration program included trenching, sampling and diamond drilling. Diamond drilling started in late November and was completed in late January, 2008. In total, 18 holes were completed to test three of the showings not drilled before (No. 3 Showing, No. 4 Showing, and No. 5 Showing) and follow up mineralization intersected in drill holes completed during the 2007 winter program. Significant assay results obtained from the 2007 winter programs are presented below:

Hole #	From (m)	To (m)	Width (m)	Au (g/t)	Zone
MUD07-01	15.1	16.1	1.0	0.99	Showing #6
MUD07-03	15.3	16.0	0.7	3.2	Showing #6
MUD07-06 includes	12.3 14.9 17.4 28.6	18.4 15.4 18.4 29.6	6.1 0.5 1.0 1.0	3.39 9.64 13.97 5.56	Oliver-Severn Zone 1 Oliver-Severn Zone 2
MUD07-11	26.5 51.5	28.5 53.2	2.0 1.7	2.11 2.35	Clarke Zone 1 Clarke Zone 2
MUD07-12 includes	80.0 82.8	88.8 84.8	8.0 2.0	0.94 2.16	Clarke
MUD07-14	19.0	21.0	2.0	2.12	Showing #3
MUD07-16	21.1	21.6	0.5	6.34	Showing #4
MUD07-17	23.7	24.7	1.0	3.77	Showing #4
MUD07-19	61.3	62.3	1.0	1.44	Showing #5

2008 Exploration Program

In January of 2008, four of nine holes intersected significant gold mineralization including 7.25 g/t across 1.0 m. The results from these holes and from earlier drilling clearly demonstrate the significant potential of the property.

Mechanical stripping exposed the MLS at several locations including a set of quartz veins that start at the northeast end of Showing No 6 and extend continuously for 120 m on surface. Channel sampling of these veins has returned up to 3.0 g/t gold across 1.0 m. Diamond drilling of the trenched areas intersected shearing and quartz veining including hole MUD08-40 which cut a 6.9 m wide shear zone containing a quartz vein that is 1.4 m wide.

Table of Significant Assay Results from 2008 Mud Lake Drilling

Hole	From (m)	To (m)	Width (m)	Au (g/t)	Zone
MUD08-22	36.6	37.6	1.0	7.25	Oliver Severn
MUD08-23	23.8	24.7	0.9	2.0	Oliver Severn
MUD08-24	19.0	21.0	2.0	1.21	Clarke Showing
MUD08-25	42.5	43.5	1.0	3.2	Clarke Showing

2009 Exploration programs

Work completed to date was part of a longer term strategy to evaluate each of the gold targets on the property and included airborne high-resolution magnetometer, XDS/VLF electromagnetic surveys over the entire property, as well as prospecting, mechanical stripping, sampling and diamond drilling.

The airborne geophysical surveys have delineated several new targets along the MLS and at the Oliver Severn Showing where the Company previously drilled 13.9 g/t gold across 1.0 m. The company will be refocusing in this area as a priority for 2009.

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This page was created on Tue Sep 7, 2010 at 2:09:36 AM Pacific Time.