December 3rd, 2009 Vancouver, BC -- Alto Ventures Ltd. (ATV: TSX-V)
and Pacific North West Capital Corp. (PFN) (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J)
are pleased to announce high grade results from the first five diamond drill holes completed at the DAC Deposit on the Destiny Gold Project. High grade quartz veins
including 44.39 g/t gold, 39.5 g/t gold and 20.6 g/t
across 0.5m were intersected within wider intervals averaging 4.36 g/t gold across 6.3m, 4.61 g/t gold across 4.9m and 2.26 g/t gold across 5.2m respectively. These veins occur within wide shear-related alteration zones which themselves are gold bearing.
These first five holes are part of a 5,000m, 14 hole drilling program designed to expand the known resources at the DAC zone through infill and step-out drilling. Completion of the drilling is anticipated within the next three weeks and this will be followed by an updated resource estimate to be completed in early 2010. Results for the remaining holes will be released when they become available. The property is located approximately 75 km north of Val d'Or in the Abitibi-Témiscamingue region, Quebec. The geological environment at Destiny including the shear-hosted high grade quartz veins is similar to the main Val d'Or gold belt. Val d'Or is one of the major mining centres in the Province of Québec, and currently host to many new mine development projects. The property is road accessible with excellent mining infrastructure and support facilities nearby.
Table of significant gold assays
PFN has allocated a $600,000 budget to the Destiny Gold Project for 2009 and the work program is being managed by Alto Ventures Ltd.
About the DAC Deposit
The main area of mineralization on the Destiny Gold Property is the DAC zone, which occurs over a strike length of about 600 m. In this area, four to five identifiable intervals of quartz veining and shear-related alteration zones carry high grade gold mineralization, with drill intersections up to 178.5 g/t gold over a drill width of 1.0 metres. The DAC zone hosts a NI 43-101 compliant indicated resource of 166,863 tonnes grading 6.88 g/t gold (36,892 ounces) and an inferred resource of 444,753 tonnes grading 4.46 g/t gold (63,839 ounces) calculated by W.A. Hubacheck Consultants Ltd. in 2007 (see "A Resource Estimate of the DAC Gold Deposit, Despinassy Twp., Val d'Or, Quebec" dated January 9, 2007, available on the Alto Ventures website). Drill-hole cross sections and a 3D model were generated for the DAC Deposit in 2008 and are posted on www.corebox.net.
The Destiny Gold Property is under Option to Pacific Northwest Capital Corp. Under the terms of the Option Agreement, PFN will pay Alto $200,000, provide Alto with 250,000 common shares of PFN, and complete a total of $3,500,000 in exploration expenditures over a four year period to earn a 60% interest in the Destiny Gold Property. Subsequent to vesting of its interest, PFN will form a joint venture with ATV to further develop the project
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
Core processing included descriptive logging and selection of samples for analyses. The NQ-size cores were sawed in half and one half was delivered to a commercial laboratory. The samples were delivered to the Accurassay preparation laboratory in Sudbury where they were crushed and a 500 gram pulp was prepared. The pulp was then shipped 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 aliquot taken from a 500 gram split from the submitted sample. Commercially prepared standards and blanks were inserted by Alto every 25 samples to ensure precision of the results. The laboratory performs repeat check assays every 10 samples on pulps to ensure internal lab quality control. The results reported represent mathematical averages of all analyses performed on each specific sample.
Robert J. Tremblay P. Geo (Quebec), Consulting Geologist to Alto Ventures, is responsible for supervision of the diamond drilling program.
About Pacific North West Capital Corp.
Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J.F) is a mineral exploration company focused on Platinum Group Metals (PGM), precious and base metals. Management's corporate philosophy is to be a Project Generator, Explorer and Project Operator with the objective of option/joint venturing projects with major and junior mining companies through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, First Nickel, Kinbauri Gold and Fire River Gold. Pacific North West Capital Corp. is well funded with an experienced management team and the ability to take advantage of the tremendous opportunities that are available in the mining sector today.
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. The Company is currently active in Quebec where it is focussed on the Destiny Gold project in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan gold districts.
For more details regarding the Company's projects, please visit our website at www.altoventures.com.
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