| ||Mon Mar 29, 2010|
27.3 Metres of 4.88 g/t Gold Drilled on Alto Ventures Coldstream Property
- 27.28 m wide zone averaging 4.88 g/t gold; includes 13.55 g/t gold over 3.0 m
- 47.25 m wide zone averaging 1.3 g/t gold of multiple higher-grade sections including 11.80 g/t gold over 1.20 m
- Results still pending for seven drill holes
Vancouver B.C. March 29, 2010: Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce the results for the first two holes of the recently completed diamond drilling program on the East Coldstream Deposit ("Deposit") at the Coldstream Property in Ontario. Foundation Resources Inc (FDN: TSX-V) is the operator and is funding this exploration program to earn an interest in the project.
The first two holes (C-10-14 and C-10-15) are located 50 m apart from each other and were drilled at the Main Zone of the Deposit. Both drill holes intersected wide zones of gold mineralization which include multiple higher grade sections. Gold in both drill holes is associated with 1 to 8 percent disseminated pyrite and occurs within strongly sheared and hydrothermally altered (silica, albite, sericite, magnetite and hematite) mafic to intermediate metavolcanics and quartz-feldspar porphyry intrusive rocks. Significant results are as follows:
Table of Significant Gold Assays from the First Two Holes of the 2010 Winter Drilling Program
|Drill Hole No.
Drill hole C-10-14 was drilled at 157°/-50º to a depth of 358.75 m and C-10-15, located approximately 50 m south-southwest of C-10-14, was drilled at 165º/-54º to a depth of 297.79 m. All intervals are represented as down hole core lengths with true widths estimated to be about 75% of core length. Assay results for the remaining seven holes completed in the 2010 program will be released as they become available.
The objectives of the nine-hole, 2, 090 m drilling program were to in-fill gaps between the widely spaced historic drill holes and increase confidence in the continuity of gold grades at the historical Deposit. The program was designed to intersect significant gold mineralization at the North, Main, East as well as the Sanders zones and start to advance the East Coldstream Gold Deposit towards an NI43-101 compliant resource estimate. These first two holes are very positive as they are some of the best results to date from the Coldstream project and they increase the potential for delineation of a large, bulk tonnage gold deposit.
Quality Assurance and Quality Control
Drill core processing included descriptive logging and selection of samples for geochemical analyses. The NQ-size core was cut in two-halves using a stationary rock saw at the field camp in Kashabowie, Ontario. One-half of the core was delivered to the sample preparation lab of ALS Chemex Laboratory in Thunder Bay where they were crushed and a 1000-gram pulp was prepared. The pulp was then shipped to ALS Chemex Laboratory in North Vancouver, B.C. for analyses. The gold assaying method uses a standard Fire Assay with ICP-AES technique on a 30-gram pulp material taken from a 1000g split from the submitted sample. Any sample that exceeded upper detection limit of 10 ppm or grams was re-analyzed by the same Fire Assay method but with gravimetric finish. Commercially prepared standards and blanks were inserted by Foundation every 20 samples to insure precision of the results. ALS Chemex inserted its own standards, blanks and carried out duplicate analyses on sample pulps to ensure internal lab quality control. The lab for regular Fire Assay technique with an ICP-AES finish, inserted 1 blank at the beginning, 2 standards at random intervals, and 3 duplicates were analyzed at the end of the batch of every 84 samples. For the Fire Assay method with gravimetric finish, inserting 1 blank, 2 standards, and 1 duplicate followed the same procedure on a batch of every 20 samples.
Ike Osmani. P.Geo., is the Qualified Person for Foundation Resources Inc who supervised the program.
About the East Coldstream Deposit
The East Coldstream Gold Deposit, with historically reported resources of 5.1 million tonnes averaging 1.4 g/t gold (234,000 contained 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 a "qualified person" (as that term is defined in NI 43-101) has not 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. Gold mineralization starts on surface and this resource estimate was based on relatively shallow drilling at 3 zones (the Main, North, and East zones). The historical resource does not include the gold mineralization at the Sanders Zone, located east of the Main Zone, which was drilled by Lacana Mining Corp. (1989) and Alto Ventures Ltd. (2006).
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. Foundation then has the option to earn an addition 10%.
For more details regarding the Company's 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.
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
You can view the Next News Releases item: Tue Apr 6, 2010, 111.3 METRES WIDE ZONE AVERAGING 1.12 G/T GOLD DRILLED ON ALTO VENTURES COLDSTREAM PROPERTY
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