| ||Tue Aug 21, 2007|
Alto-Wescan Joint Venture Approves $300,000 Fall Exploration Program at Mud Lake, Beardmore-Geralton Gold Belt
| ||Vancouver, B.C., August 21, 2007. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that a $300,000 surface exploration program and budget have been approved by Joint Venture partners Alto Ventures and Wescan Goldfields Inc. (WGF: TSX-V) for the Mud Lake property in the Beardmore- Geraldton Gold Belt. The program will include mechanical stripping and trenching which is scheduled to start in mid September followed by diamond drilling in October or early November when the contracted drill becomes available.|
A major auriferous shear zone (Mud Lake Shear - MLS) that extends for over six kilometres along strike has been identified on the property. Thirteen gold occurrences are exposed in surface trenches along the MLS and sampling of these has returned gold assays as high as 50 g/t in grab samples (see Alto's news release from November 27, 2006). The planned mechanical stripping and washing program will concentrate on areas of mapped shearing in-between some of the previously identified surface occurrences along the MLS to determine if these segments of the shear zone contain mineralized quartz veins.
Previous drilling by Alto (see Alto's news releases from March 5 and March 20, 2007) has intersected gold in each of three surface occurrences tested along the MLS, up to 13.9 g/t gold/1.0 m. The 2007 fall drill program will consist of 18 to 20 holes and will in part follow-up on gold mineralization intersected at two of the three occurrences drilled previously and test for the first time, another three occurrences along the MLS not yet drilled.
The current program is part of a longer term strategy to evaluate each of the surface occurrences with diamond drilling and start to delineate in detail those that display continuity of mineralization and grade and show potential for the concentration of economic mineralization.
Under the terms of the Mud Lake Option Agreement, Wescan can earn 50% in the property by funding $600,000 in exploration and issuing a total of 150,000 Wescan shares to Alto over two years. This program is funded by Wescan as per terms of the Option Agreement.
The Beardmore Geraldton Gold Belt is experiencing a resurgence of gold exploration and Alto is pleased to participate with its partner Wescan in this resurgence.
Mike Koziol, P. Geo., P.Eng. and Alto's President and Director is the Qualified Person who has reviewed and approved the content of this news release.
About Alto Ventures Ltd.
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of eleven properties in the Canadian Shield. With a pipeline of quality projects, the Company's approach to maximizing opportunities while minimizing exploration risk is to attract well financed partners with the technical expertise to take the projects onto feasibility and subsequently production.
Alto's Management and Board of Directors have a long and successful track record of creating shareholder value through systematic exploration, acquisitions and discovery. The Company is currently active in Quebec where it is focussed on the Despinassy project in the Abitibi Greenstone Belt and in Ontario in the Shebandowan and Beardmore gold districts.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
Investor Relations Manager
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Email: [email protected]
You can view the Next News Releases item: Wed Sep 5, 2007, Alto Acquires New Project In The Beardmore-Geralton Gold Belt
You can view the Previous News Releases item: Thu Aug 9, 2007, Kodiak Exploration Ltd In $1 Million Agreement For Exploration At Cote-Archie Lake, Beardmore-Geralton Gold Belt
You can return to the main News Releases page, or press the Back button on your browser.