| ||Tue Nov 24, 2009|
Trenching at the Goldie Zone Succeeds in Developing Drill Ready Targets on the Coldstream Gold Property, Ontario
| ||Vancouver B.C. November 24, 2009: Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce the results of the summer field program at the Goldie Zone on the Coldstream Gold Property, Ontario. Trenching and channel sampling have succeeded in developing a historic gold showing into drill ready targets. The exploration work was completed by Foundation Resources Inc (FDN: TSX-V) which is earning an interest in the project and is the operator of the project.|
Highlights of the Goldie Zone:
Some significant gold assays obtained from 2009 channel sampling include:
- 2009 channel samples up to 30.7 g/t Au over 1.15 m
- Channel sampling results demonstrate a mineralized strike length of at least 300 m
- Strong similarities to the nearby East Coldstream Deposit (non 43-101 compliant resource of 5.1 million tonnes with 234,000 ounces contained gold)
- Only 850m south of the East Coldstream Deposit -- Potential to add tonnage as a satellite deposit
- No previous drilling on this very prospective zone
The 2009 trenching program at the Goldie Zone has exposed significant gold mineralization over more than 300 metres of strike length. Detailed trench mapping has shown that the gold mineralization occurs in intensely silicified shear zones. These shear zones trend east-northeast and are sub-parallel to the steeply dipping shear zones that host the East Coldstream Deposit only 850 m to the north.
The East Coldstream Deposit, with historical resources of 5.1 million tonnes averaging 1.4 g/t gold and containing 234,000 ounces of gold, was discovered by Noranda Exploration Ltd and was delineated by 37 diamond drill holes between 1988 and 1991. Noranda prepared the historical resource estimate in 1991 however no "qualified person" (as that term is defined in NI 43-101) has to date done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as current mineral resources (as defined in NI 43-101) and thus the historical
estimate should not be replied upon. Please see Alto's November 16th news release for further details on the East Coldstream Deposit.
Like the East Coldstream Deposit, the Goldie Zone mineralization is coincident with an IP chargeability anomaly, and gold is associated with pyrite and strong silicification in zones of intense shearing. The Goldie Zone was noted as an occurrence during Noranda's late 1980's work in the area but no drilling was undertaken.
The Company considers the Goldie Zone to represent a potential satellite deposit to the East Coldstream Deposit. 2009 channel sampling returned very encouraging results over a strike length of over 300m. Topographic lows prevent further trenching along strike, leaving the zone open both to the east and west. Foundation plans to complete drilling to test beneath this very encouraging surface mineralization.
About the Coldstream Project
The Coldstream Property includes 5,394 hectares of staked and patented mining claims along the Trans Canada Highway 115 km west of the City of Thunder Bay, Ontario. The area is road accessible and has excellent infrastructure with a major power line and CN rail line passing just north of the property. Skilled labour is readily available locally.
The property is under an Option Agreement with Foundation Resources Inc. Foundation is the operator and is funding the current exploration program to earn an initial 60% interest.
For more details regarding the Company's projects, please visit our website at www.altoventures.com
Channel samples were cut approximately 5 cm wide perpendicular to the strike of the sampled material (foliated/sheared rock units). The channels were cut continuously across the desired width of the sample with a diamond-blade rock saw to an approximate depth of 10 cm and then the cut rock was chipped out with hammer and chisel. Geologists described the samples such as rock types, mineralization and then bagged and brought to the campsite where blanks and standards were placed into after every 25 sample series. The bagged samples were then placed into large rice bags and marked for delivery to the assay lab for analyses of gold and other selected elements. The staff of the Coast Mountain Geological Ltd, the contractor for Foundation, delivered the samples to certified ALS Laboratory (ISO 9001:2000 and ISO 17025:2005) in Thunder Bay, Ontario. The samples were weighed, crushed (70% - <2mm), pulverized (split to better than 85% passing 75 microns), and then analyzed for gold and other trace elements by the lab. Gold is analyzed by the lab for up to 10ppm upper detection limit using the fire assay procedure on a 30g sample with ICP finish. Any sample exceeding this upper limit value was then re-analyzed by the same fire assay method but with gravimetric finish.
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the Qualified Person who 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 highly prospective properties in the Canadian Shield. 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 Destiny 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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: Tue Dec 1, 2009, Coldstream Property Expanded to Include the Highly Prospective Iris Zone, Coldstream Gold Property, Ontario
You can view the Previous News Releases item: Mon Nov 16, 2009, 2009 Field Work Demonstrates Strong Potential to Expand Historic Resource at the East Coldstream Deposit, Coldstream Gold Property, Ontario
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