Vancouver B.C., August 17, 2010: Alto Ventures Ltd. (ATV: TSX-V) is pleased to provide an update on its summer exploration programs on three gold projects in Ontario and one in British Columbia. Surface work including geological mapping, prospecting and sampling is in progress on the Miner Lake and Cote-Archie Lake projects in the prolific Beardmore-Geraldton gold belt. Diamond drilling is continuing on the Coldstream property in the Shebandowan district of Ontario. Surface work consisting of basal till and soil geochemistry surveying was completed in July on the Chilko project in British Columbia. he following is a summary of work completed on each of the projects and currently available results.
Miner Lake Project, Beardmore-Geraldton Gold Belt, Ontario
The Miner Lake exploration program is in progress. Exploration work completed to date includes prospecting, geological mapping, overburden stripping and channel sampling. Mapping and prospecting have outlined an area approximately 1.5 km by 1 km of brittle/ductile deformation within variably altered feldspar porphyries and intermediate to felsic volcanic rocks. Numerous iron sulphide (pyrite and pyrrhotite) occurrences lie within this area and many contain gold which is associated mainly with chalcopyrite, a copper sulphide mineral. Results received to date include highly anomalous gold values, in both grab and channel samples. Channel sample results include up to 4.6 g/t gold and 0.25% copper across 0.2m in one area and 1.1 g/t gold and 0.2% copper over 4.0 m in another. Significant gold and copper values were also obtained in grab samples, including 3.57 g/t gold and 0.17% copper; 1.7 g/t gold and 1.3% copper; 2.71 g/t gold; and 1.52 g/t gold and 0.71% copper. Other metals are also associated with some of the sulphide occurrences including zinc (up to 2.5% in grabs), molybdenite (up to 0.1% in grabs) and silver (up to 13 g/t in grabs).
Results from Alto's 2009 surface saw-cut channel sampling program returned significant gold mineralization at the Whaleback Trench 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. 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 (see Alto news release May 26, 2010).
The main target on this property is a gold deposit that might be exploited by open pit mining. The gold on this property is associated with disseminated, stringer and vein iron and copper sulphide mineralization. The objectives of this program are to focus on areas of better gold grades and higher sulphide concentrations within this large brittle/ductile deformation zone so that drill targets can be delineated.
Cote-Archie Lake Project, Beardmore-Geraldton Gold Belt, Ontario
Exploration work consisting of geological mapping, prospecting and sampling is in progress. The objectives of this program are to generate targets for diamond drilling. Kodiak Exploration Ltd is the project operator and is funding the program to earn an initial 51% interest in the project. The program has started just recently and there are no results to report as yet.
The Cote Archie Lake property is located along the same shear trend as the former gold producing Leitch Mine. The Leitch Mine is reported to have produced 860,000 ounces of gold at an average grade of 0.92 ounces pre ton (31.5 g/t).
Coldstream Project, Shebandowan Area, Ontario
An 8,000 m diamond drilling program is currently in progress on the Coldstream property. Results from the first three holes of the program, including 3.07 g/t gold over 13.9 m within a 34.5 m wide zone averaging 1.93 g/t gold, were reported by Alto on July 21, 2010. Additional results will be reported as they are made available. The current 8,000 m drill program is designed to; (1) follow up on the positive results obtained from the winter 2010 drilling and reported by Alto on March 29, April 6 and April 21 2010; (2) increase confidence in the continuity of gold mineralization within the historical East Coldstream Deposit and; (3) expand the existing, non-NI43-101 compliant, historical resource as more particularly described in the Company's July 21 2010 news release. The work is being carried out by Foundation Resources Inc (FDN: TSX-V) which is the Project Operator and is funding this exploration program to earn an initial 60% interest in the Coldstream Property.
The Coldstream property lies adjacent to the Moss Lake gold deposit where recently reported NI43-101 resource estimates include 1.1 million ounces in total indicated and 0.52 million ounces in the total inferred categories.
Chilko Project, Chilcotin District, British Columbia
The Chilko Project was acquired due to its proximity to the Newton Project being explored by Amarc Resources Ltd. Exploration targets on the Chilko property are large tonnage gold deposits that can be exploited by open pit mining. The property lies approximately 100 km west of Williams Lake and 15 km north of the Newton bulk tonnage gold project. Best intercepts reported by Amarc from its 2009 drilling at Newton include 189 metres grading 1.56 grams per tonne (g/t) gold, with a 141 metres section grading 2.01 g/t gold in hole 9004 and 138 metres grading 0.74 g/t gold, including 63 metres grading 1.17 g/t gold in hole 9014.
The Chilko Property claims were staked to cover the potential source of gold-in-till anomalies defined by a 2009 BC government survey. A surface program of till sampling and soil geochemistry was completed in July. Objectives of the program are to identify areas of better potential for hosting gold mineralization and to help focus detailed exploration in order to delineate targets for diamond drilling.
The program discovered float samples of rhyolitic rock with quartz veining, similar to that hosting mineralization at the Newton Project. Samples have been submitted for analyses and results are pending.
Quality Assurance and Quality Control
Surface channel samples are 5 cm wide and cut perpendicular to the strike of the target being sampled (vein, shear zone or sulphide horizon). The channels were cut continuously across the width of the sample with a motorized saw using a diamond saw blade to a depth of 10 cm. The cut rocks were then chipped out with hammer and chisel. The samples were described by Alto geologists noting rock types and mineralization and then bagged for delivery to the assay laboratory for quantitative analyses for gold and selected elements. Grab samples collected by Alto prospectors and geologists were described and bagged for delivery to the assay lab. The channel and grab samples were analysed at Accurassay Laboratories in Thunder Bay using standard Fire Assay/AA procedures. The gold assaying method uses a standard Fire Assay with AA finish technique on a 30 gram sub-sample taken from a 500 gram pulp created from the original sample. Commercially prepared standards were inserted by Alto every 25 samples and blanks every 50 samples to ensure precision of the results. The laboratory ran internal check assays every 10 samples to ensure lab quality control. Check assays were also completed on the rejects of all samples that exceeded 1 g/t gold on the first analyses but using Fire Assay/Gravimetric procedures on the check-assayed samples.
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 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:
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Email: [email protected]