| ||Thu Jul 24, 2008|
Alto Samples Up To 59.5 g/t (1.73 oz/ton) Gold At Greenoaks, Beardmore-Geraldton Gold Belt, Ontario
| ||Vancouver, B.C., July 24, 2008. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce results from the mechanical stripping and sampling programs completed on the Greenoaks Project in the Beardmore-Geraldton Gold Belt. Gold values up to 59.5 grams per tonne (g/t) were obtained from grab samples collected at various locations along a northwest trending structure consisting of shears and fractures. This structure was injected with semi-continuous quartz veins, some up to 30 cm thick, and it has been stripped and sampled intermittently for more than 500 m along strike. Of the 57 grab samples that were analysed, 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.|
The structure, as it is currently known, extends northwest from Alto's 2007 diamond drill hole GRN07-01 (12.5 g/t gold across 0.4 m), through the historical Greenoaks Mine, past hole GRN07-04 which is located 150 m northwest of the Greenoaks Mine and finally to a new showing discovered by Alto some 250 m along strike from GRN07-04. The Greenoaks Mine is reported to have produced 1,171 tons of vein material at an average grade of 6.1 g/t gold and an additional 53 tons averaging 17.1 g/t gold. GRN07-04 drilled the structure and intersected two quartz veins with visible gold returning assays of 7.08 g/t gold across 0.8 m and 2.1 g/t gold across 0.5 m (see Alto news release dated April 3, 2007).
Prior to the 2008 summer program, it was believed that there were four separate small gold bearing quartz zones, but the mechanical stripping confirmed that the four zones are only small parts of a larger structure that still remains open along strike to the northwest and southeast and to depth. Drilling along this structure was limited to five shallow holes completed by the Company in 2007 and 27 shallow holes completed in the past to test one of the four zones, the No 1 Zone, to a depth of 30 metres. Significant mineralized intersections, including 35.3 g/t gold across 3.2 m, have been reported from historical drilling and thus provide encouragement that the veins and structure do have the potential to widen along strike or at depth. Alto's hole GRN07-05 is the deepest cut across the mineralized structure. It intersected a 1.2 m wide quartz vein at a vertical depth of 50 m.
To follow up these results a program of channel sampling will be completed in August.
The Greenoaks property is located 43 km northeast of the Town of Beardmore and approximately 5 km west of the Golden Mile gold zone discovered by Kodiak Exploration Ltd. The prolific Beardmore-Geraldton Gold Belt has produced over four million ounces of gold in the past with grades comparable to the Red Lake mining camp in north western Ontario. Alto is currently active on four other projects in the area including the Cote-Archie Lake property where project operator, Kodiak Exploration is drilling (see Alto news release dated May 28, 2008). Kodiak is working towards earning 51% interest in the Cote-Archie Lake project by incurring $1 million in exploration expenditures over three years.
For more details regarding the Company's Beardmore area projects, please visit our website at www.altoventures.com
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the Qualified Person who has reviewed and approved this news release.
Quality Assurance/ Quality Control
Rock samples were collected by Alto geologists and their locations confirmed in the field. The samples were then delivered by Alto staff to Accurassay Laboratories in Thunder Bay for analyses. The gold assaying method uses a standard Fire Assay with AA finish technique on a 30 gram sub-sample taken from a 500 gram split from the submitted sample. The laboratory ran internal check assays every 10 samples to ensure lab quality control.
About Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of highly prospective 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 projects on to 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.
President & CEO
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: Thu Sep 4, 2008, Alto Provides Exploration Update On Beardmore Area Projects, Plans 3,000 Metres Of Diamond Drilling
You can view the Previous News Releases item: Wed Jun 25, 2008, Alto-Wescan Joint Venture Approves $300,000 Summer Exploration Program At Mud Lake, Beardmore-Geralton Gold Belt
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