Vancouver, B.C., May 26, 2010. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce the start of its exploration program at Miner Lake in the Beardmore-Geraldton Gold Belt. The objectives of the program are to provide a better understanding of the controls on gold mineralization and the potential size and extent of the gold bearing structures. High priority targets will be selected for drilling later this year based on results from this program. Project highlights include:
- Wide zones up to 19 m averaging 1.78 g/t gold and 0.11% copper including 3.36 g/t gold and 0.24% copper over 5 m in surface saw-cut channel samples
- Targets are large-tonnage, bulk mineable deposits
- High grade gold of up to 25.2 g/t in historical grab samples
- Gold is associated with copper sulphides (chalcopyrite)
- Property under-explored with year round access
Results from Alto's 2009 surface saw-cut channel sampling program returned significant gold mineralization including one section of 3.36 g/t gold and 0.24% copper across 5.0 m and another section of 6.29 g/t gold and 0.08% copper across 2.0m (see Alto news release dated February 25, 2010). These higher grade sections are contained within a wide sulphide-rich envelope averaging 1.78 g/t gold and 0.11 % copper across 19 m.
The highly encouraging results obtained in 2009 are only from one of more than 50 historically stripped and trenched sulphide-mineralized bedrock exposures on the property. The historical trenches, some of which date back to the 1950's occur in an area that is approximately 1.5 km by 0.6 km and they show variable amounts of iron sulphides, including pyrite and pyrrhotite as well as chalcopyrite, a common copper-bearing sulphide mineral. The best gold values are associated with the highest concentrations of sulphides and chalcopyrite. Sampling of the trenches has been limited in the past and the structures that host the sulphide mineralization have not been mapped in detail nor have the relationships between the various occurrences been determined. High grade assays up to 25.2 g/t gold in grab samples were reported from previous work.
Mike Koziol, President & CEO of Alto, states, "Exploring the Miner Lake property will be very exciting. The gold mineralization found so far is in wide sulphide-bearing shear zones rather than in the classic quartz vein settings that are being explored on adjoining properties. Mineralization starts on surface and with additional mechanical stripping and diamond drilling, the wide sulphide zones may be developed into bulk mineable open pit type targets. The property is under-explored and we hope to generate some excitement this year with our 2010 surface and drilling programs."
The 2010 summer program will initially consist of prospecting and sampling of all known mineralized surface exposures to determine which should be mechanically stripped and sampled in detail. After results from this work are evaluated, targets will be selected and drill tested later this year.
The Company operates five strategically located projects in the Beardmore-Geraldton Gold Belt between the Hercules property (Golden Mile gold zones) that is being actively explored by Kodiak Exploration Ltd and the Brookbank gold deposit which is being drilled by Goldstone Resources Inc. The Company's sixth project in the gold belt, the Cote-Archie Lake project lies on strike with the Leitch-Sand River property operated by Goldstone Resources and is under an Option Agreement with Kodiak Exploration. Under the terms of the Agreement, Kodiak can earn an initial 51% interest by spending $1 million on the property over three years. Kodiak is the operator and is required to spend approximately $470,000 before September 2010 to earn its interest.
Mike Koziol, P. Geo., P.Eng., Alto's President and CEO is the Qualified Person who has reviewed and approved the content of 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 active in Quebec in the Abitibi greenstone belt where it has a number of projects including the Alcudia and Destiny gold properties. In Ontario the Company is exploring in the Beardmore-Geraldton gold belt and the Shebandowan gold district. Recently, with the acquisition of the Chilko project in British Columbia, the Company has added large tonnage bulk-mineable porphyry style deposits to its exploration targets.
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]