- 20.85 g/t gold over 1.1 m intersected within a vein zone averaging 8.46
g/t over 3.0m
- An IP anomaly drilled south of the DAC Deposit identified a new target
intersecting mineralized shear zones
- 6.4% zinc over one meter massive sulphide zone also intersected
Vancouver, BC, April 12, 2010 - Alto Ventures Ltd. (ATV: TSX-V) and
Pacific North West Capital Corp. ("PFN") (TSX: PFN; OTCBB: PAWEF; Frankfurt:
P7J) are pleased to provide the results for the last three holes (DES10-136
to 138) of the Phase 2 drilling program This program was completed in March
2010 at the DAC Deposit on the Destiny Project, Quebec. The results from
the recent Phase 1 and Phase 2 programs are being incorporated into the extensive
data base available for the Destiny project for the next stage of work, which
may include diamond drilling.
Drilling at the DAC Deposit continued to intersect multiple gold zones with
high grade values over significant widths (Table 1) including DES10-137 which
intersected 20.85 g/t gold over 1.1 m within a vein zone that averages 8.46
g/t over 3.0m. This same hole intersected another gold zone containing 12.0
g/t gold over 0.5 m within a quartz-veined shear zone averaging 1.16 g/t gold
over 6.6 m and a massive sulphide lens assaying 6.4% zinc over 1.0 m.
Table-1- Significant Gold Assays Phase 2 Drilling Program
*Based on core angles and previous drilling, true widths are estimated at approximately
80 to 90% of the downhole lengths reported. Mineralized zones generally start
at 0.1 g/t gold and assay averages may include minimal intervals of waste material.
No top cuts of assays were used.
DES10-137 intersected a one metre wide zone of zinc-rich massive sulphides
that is believed to be part of the same sulphide horizon from which base metal
values were reported previously (see Alto and Pacific Northwest news releases
dated February 18, 2010). Company geologists believe that the base metals are
indications of an earlier copper-zinc-gold massive sulphide system that has
been subsequently overprinted by the gold enriched shear zones that are host
to the DAC Deposit. Table 2- summarizes the significant Base Metals mineralization.
Table 2- Summary of Significant Base Metals Mineralization in Massive Sulphide
New discovery of quartz veins and shearing throughout DES10-138 is very significant
as it indicates that the previously untested areas are targets with excellent
potential for finding additional gold zones at shallow depths just south of
the DAC Deposit.
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 laboratory was instructed to prepare and analyze a second 500 gram split
from the reject for those samples that indicated gold values of between 1 g/t
and 5 g/t on the initial analysis. The gold assaying method on the re-split
uses a standard Fire Assay with Gravimetric finish technique on a 30 gram aliquot.
Pulp metallic assays were performed on all samples the returned greater than
5 g/t gold on the first assay. 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, was
responsible for supervision of the diamond drilling program.
About Destiny Gold Project
The Destiny Gold Property is under Option to Pacific North West Capital Corp.
Under the terms of the Option Agreement, Pacific North West Capital may elect to pay
Alto $200,000, provide Alto with 250,000 common shares of Pacific North West
Capital, 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, Pacific North West Capital will form a joint venture
with Alto to further develop the project.
The property is located approximately 75 km north of Val d'Or in the Abitibi-Témiscamingue
region of 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 gold mining centres in the Province of Québec, and
currently active with many new mine development projects. The property is road
accessible with excellent mining infrastructure and support facilities nearby.
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 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).
About Pacific North West Capital Corp:
Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; FSE: 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, Fire River Gold Corp. and Alto Ventures.
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.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President & CEO
Neither 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]