Alto Ventures Ltd.
Alto Ventures Ltd.
News News Releases

 Wed Feb 16, 2005
Continued Intercepts of Good Grade and Thickness at Despinassy Gold Project, Quebec

 Alto Ventures Ltd (TSX.V - ATV) is pleased to announce initial results of its ongoing 5,000 metre drill program at its Despinassy gold project near Val d'Or, Quebec. Results from five holes drilled on the DAC deposit confirm that each hole intersected wide intervals of shear hosted gold mineralization, up to 33 metres thick, containing multiple, high grade quartz veins. The best results from each of the holes include:

14.6 g/t Au over 3.7 metres (including 51.2 g/t Au over 1.0 metre);

7.0 g/t Au over 7.2 metres (including 16.4 g/t Au over 2.7 metres);

6.7 g/t Au over 3.1 metres (including 14.0 g/t Au over 1.2 metres);

6.4 g/t Au over 5.9 metres (including 22.0g/t Au over 1.4 metres); and

45.8 g/t Au over 0.4 metres

The style of gold mineralization at Despinassy is typical of "greenstone" gold deposits mined in the Abitibi Gold Belt. Anomalous gold occurs within the Despinassy Shear Structure that is over 200 metres wide and drilling to date has traced gold mineralization for 5 kilometres along strike. Four parallel zones (Zones 1, 2, 3, and 4) of intense alteration and quartz veining have been intersected in the DAC deposit (formerly Area One).

Zone 2 has been confirmed to be well mineralized and the most continuous of these zones with intercepts of:

3.4 grams gold per tonne over 14.0 metres;

1.97 grams gold per tonne over 28.0 metres;

2.33 grams gold per tonne over 25 metres; and

0.58 grams gold per tonne over 33.2 metres.

Zone 3 has also been confirmed to be continuous and well mineralized with results including:

1.2 grams gold per tonne over 13.9 metres; and

2.0 grams gold per tonne over 14.7 metres.

Sections of high grade quartz veins, which range in width from 0.3 metres to almost 10 metres occur within these zones. Alto is encouraged by the continuity of these gold zones and the grades of gold mineralization encountered to date. Detailed results for DES05-64 to 68 are presented in the accompanying table.

The principal objective of these drill holes is to initiate the estimation of an inferred resource in the DAC deposit. The current holes were drilled 25 metres apart horizontally in 25 to 50 metre vertical step-outs. In addition, Alto is drilling on IP anomalies up to three kilometers to the west along the Despinassy Shear Structure that were identified in a fall geophysical program. Previously undrilled Cameco IP targets, two kilometers to the east, will also be tested in the current program.

Quality Assurance/Quality Control

Core processing included descriptive logging and selection of samples for analyses. The cores selected for analyses were sawed in half and one half was sent to a commercial laboratory and the other half retained for future reference. Gold assays were performed at ALS Chemex Laboratories in Val d'Or Quebec. The gold assaying method uses a standard Fire Assay with AA or Gravimetric finish technique, as requested by the Company, on 30 grams sub-sample taken from a 250 gram split off the raw sample.

The Laboratory was instructed to prepare and analyze a second 250 gram split from the reject for those samples that indicated greater than 2 grams gold per tonne on the initial analysis. Commercially prepared standards were inserted every 25 samples to ensure precision of the results. The results reported represent composites using weighted averages of all analyses performed on each specific sample. Mike Koziol P.Geo., Alto's Vice President of Exploration, is the qualified person supervising the drill program.

About Alto Ventures Ltd.

Alto is acquiring Cameco's 70% interest in the Despinassy Joint Venture from Cameco Corporation through a series of cash and share payments totaling $700,000 over a five year period. Under terms of an agreement with Commander Resources Ltd., Alto's 30% partner in the project, Commander is being carried for the first $500,000 of the current program. Alto is the operator.

Alto is a gold exploration and development company with a portfolio of mid to advanced stage exploration properties in the Canadian Shield. The Company is focused on exploration and acquisition of mineral properties in the Abitibi greenstone belt in Ontario and Quebec as well as in historic gold producing districts in the western Superior Province of Ontario and Manitoba. There are currently 42.5 million shares outstanding.

TABLE I DESPINASSY DRILL RESULTS -- DDH DES05-64 TO DES05-68

DES05-64

Zone 1:    
From (m) To (m) Gold (grams per tonne/metres)
 
High geochemical values only (hundreds parts per billion gold)
 
Zone 2:    
154.5 168.5 3.41/14.0
includes    
156.5 156.8 4.84/0.3
158.0 158.4 16.6/0.4
161.8 167.7 6.42/5.9
161.8 163.2 22.0/1.4
 
Isolated Vein    
176.5 177.5 4.84/1.0
 
Zone 3:    
189.1 203.0 1.2/13.9
includes    
191.5 193.3 3.03/2.3
 
Zone 3a:    
217.0 223.9 1.49/6.9
includes    
217.0 218.8 3.69/1.8
222.9 223.9 2.85/1.0
 
Zone 4:    
268.5 269.0 28.9/0.5
278.5 279.0 4.21/0.5
 
DES05-65    
Zone 1:    
44.5 52.4 0.87/7.9
includes    
49.1 50.9 2.1/1.8
 
Zone 2:    
99.0 105.8 1.75/6.8
includes    
99.3 100.0 6.54/0.7
 
Zone 3:    
127.4 142.1 2.04/14.7
includes    
128.3 129.5 2.94/1.2
134.7 135.1 45.85/0.4
 
Zone 4:    
198.0 198.5 11.77/0.5
 
DES05-66    
Zone 1:    
92.9 97.7 0.43/4.8
 
Isolated Vein    
118.6 119.3 8.1/0.7
 
Zone 2:    
126.4 154.4 1.97/28.0
includes    
130.0 133.1 6.7/3.1
130.0 131.2 14.0/1.2
138.3 138.8 4.45/0.5
142.2 143.6 8.3/1.4
143.1 143.6 20.1/0.5
 
Zone 3:    
No significant values    
 
Zone 3a:    
211.1 219.1 0.46/8.0
 
Zone 4:    
276.9 278.5 2.64/1.6
280.1 281.5 5.67/1.4
(incl.) 280.1 280.7 10.6/0.6
 
DES05-67    
Zone 1:    
114.0 118.9 1.2/4.9
includes    
114.0 114.5 4.74/0.6
 
Zone 2:    
147.3 172.3 2.33/25.0
includes    
163.7 170.9 7.0/7.2
166.0 168.7 16.4/2.7
 
Zone 3:    
191.7 209.6 0.75/17.9
includes    
194.5 195.5 3.9/1.0
 
Zone 4:    
270.1 272.3 4.15/2.2
 
DES05-68    
Zone 1:    
143.1 154.3 0.43/11.2
 
Zone 2:    
177.8 211.0 0.58/33.2
includes    
206.4 206.9 3.94/0.5
 
Zone 3:    
231.5 248.0 0.77/16.5
includes    
240.2 240.9 2.88/0.7
246.8 247.3 2.94/0.5
 
Zone 4:    
329.9 333.6 14.6/3.7
includes    
332.6 333.6 51.2/1.0


ON BEHALF OF THE BOARD:

Rick Mazur
President & CEO
Alto Ventures Ltd.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

For further information, contact:

Rick Mazur
President & CEO
Alto Ventures Ltd.
Suite 910-475 Howe Street
Vancouver, B.C. V6C 2B3


Phone: 604-681-2409
Fax: 604-689-3609
Email: [email protected]

Mike Koziol
Vice President, Exploration
Alto Ventures Ltd.
Unit 3 -- 1349 Kelly Lake Road
Sudbury, Ontario P3E 5P5


Phone: 705-522-6372
Fax: 705-522-8856
Email: [email protected]
 
 

You can view the Next News Releases item: Tue Apr 5, 2005, Alto Assembles Large Gold Property Position - Oxford Lake, Manitoba

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