| ||Thu Oct 4, 2007|
Alto-Wescan Finalize Drill Contract For Mud Lake Project, Beardmore-Geraldton Gold Belt
| ||Vancouver, B.C., October 4, 2007. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce that a contract has been executed for the diamond drilling on the Alto-Wescan Goldfield Inc. ("Wescan"), (WGF: TSX-V) Mud Lake Project in the Beardmore-Geraldton Gold Belt. The drill contract stipulates a minimum of 1,200 metres (m) of drilling in 18 to 20 holes and the drilling is scheduled to start in November. The Mud Lake property lies adjacent to the Hercules Property where Kodiak Exploration Ltd. recently reported drilling results confirming significant gold mineralization, including 38.47 grams per tonne (g/t) gold across 1.6 m in drill core and 32.96 g/t gold across 11.6 m in surface channel samples (see Kodiak Exploration news release dated October 1, 2007).|
Previous work at Mud Lake included the discovery of twelve gold showings associated with a major shear zone (Mud Lake Shear -MLS). The MLS was traced for more than six kilometres on the property but had not been drilled prior to Alto's 2007 winter program which tested three of the twelve surface gold showings and intersected gold-bearing quartz veins at each of those showings. Gold values up to 13.9 g/t across 1.0 m were intersected within a wider zone of gold mineralization that assays 3.39 g/t across 6.1 m. (see Alto news releases dated March 6 and March 20, 2007).
The November drilling 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 which have yet to be drill tested. This work 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.
Surface trenching, washing and sampling programs were completed in September in two areas along the MLS to fill gaps along strike between previously discovered gold showings. Samples from the trenched areas were delivered for analyses and results are expected within the next four to six weeks.
In June, 2007, Alto and Wescan entered into an Option Agreement on the Mud Lake Property. Under the terms of the 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. The surface trenching, washing and sampling and upcoming diamond drilling programs are funded by Wescan in accordance with the terms of the Option Agreement.
In August, 2007, Alto entered into an Option Agreement with Kodiak Exploration Ltd. to explore and develop Alto's Cote-Archie Lake Property. The property is located six kilometres north of the Town of Beardmore near the west end of the Beardmore-Geraldton Gold Belt and on strike with the historic Leitch Mine which produced 860,000 ounce of gold at an average grade of 0.92 oz/ton.
Mike Koziol, P. Geo., P.Eng. and Alto's President and Director is the Qualified Person that has reviewed and approved this news release.
About Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of twelve 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 Beardmore and Shebandowan 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]
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