| ||Mon Jul 11, 2011|
Drilling Update: Coldstream Deposit, Ontario
| ||Vancouver B.C. July 11, 2011: Alto Ventures Ltd. (ATV: TSX-V) ("Alto") and Foundation Resources Inc. (FDN: TSX-V) ("Foundation") are announcing the completion of their first three drill holes from the Sanders Zone of the East Coldstream Deposit ("Deposit") in northwestern Ontario. These completed holes are part of a 6,000-metre drill program comprised of two main objectives: A) expanding the Deposit both laterally and down-plunge, and B) further exploring and developing the high-grade gold discovery (8.39 g/t gold over 11.0m -- News Release dated March 22, 2011) as a result of a successful 2011 winter drilling program at Iris Lake. The Iris Lake discovery is located approximately 1500 metres north of the East Coldstream Deposit. Foundation is the operator of this program and owns 60% interest in the Property. Alto owns the remaining 40%. |
All three drill holes were designed to test the down-plunge extension of the Sanders Zone, which is one of the four gold zones comprising the 1.5 kilometre strike-length of the East Coldstream Deposit. Drill hole C-11-70 tested the Sanders Zone at a vertical depth of 165 metres, piercing at approximately 65 metres below drill hole C-11-56. Hole C-11-71 was drilled to a 113-metre vertical depth to the east of C-11-56 and 50 metres vertically below the historical hole EC-89-1. Drill hole C-11-72 was drilled to a vertical depth of 170 metres and is roughly 50 metres below hole C-11-71 and east of hole C-11-70.
The drill rig has now moved to hole C-11-73 to test the interpreted down-plunge extension of the East Zone. The East Zone is located approximately 100 m north of the Sanders Zone.
All three completed holes have intersected several altered and mineralized intercepts of variable core lengths. Drill cores are currently being logged and sampled to be sent to the lab for analysis. The assay results from these holes will be announced as soon they become available.
Ike Osmani, M.Sc., P.Geo., the President of Foundation and the Qualified Person for the Coldstream Project supervises the drill program and has reviewed and approved the technical content of this news release.
About the East Coldstream Deposit
The East Coldstream Deposit is hosted within mafic to intermediate metavolcanic rocks which have been intruded by dike/sill-like bodies of quartz-feldspar porphyries and gabbros. All these rock types have been variably altered (silica, hematite, carbonate, chlorite) and deformed by east- to east-northeast striking North Coldstream Shear/Deformation Zone. Gold is associated with 1 to 5 percent, fine-grained pyrite.
About the Coldstream Property
The 6,234-hectare Coldstream Property is located 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.
For more details regarding the Coldstream Property, please visit our website at www.altoventures.com
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold properties. The Company is developing advanced projects at its Destiny gold property in Quebec and its Coldstream gold property in Ontario. Further exploration activities are planned on its Beardmore-Geraldton gold properties, the Oxford Lake gold project in Manitoba and the Chilko gold project in British Columbia. For more details regarding the Company's projects, please visit our website at www.altoventures.com.
ON BEHALF OF THE BOARD,
Richard J. Mazur, P. Geo.,
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:
President and Director
ALTO VENTURES LTD.
Unit 8 - 1351D Kelly Lake Rd
Sudbury, ON., P3E 5P5
Email: [email protected]
Director of Corporate Affairs
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Email: [email protected]
You can view the Next News Releases item: Tue Jul 19, 2011, Alto Ventures and Pacific North West Capital Commence First Phase of Exploration Program on the Destiny Gold Project, Val d'Or, Quebec
You can view the Previous News Releases item: Wed Jul 6, 2011, 6,000 Metres of Diamond Drilling Commences at the Coldstream Property, Ontario
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