Alto Ventures Ltd.
Alto Ventures Ltd.
News News Releases

 Mon May 14, 2012
Drilling Intersects 22.7 Grams per Tonne Gold on Destiny Gold Project, Val d'Or Area, Quebec

 
  • 22.7 g/t gold over 1.05 m intersected in an under-explored one-kilometre section of the Despinassy Shear Zone
  • Gold mineralization and favourable alteration and structure confirmed by widely spaced drilling between the DAC Deposit and the Darla Zone
  • As of January, 2011 the DAC Deposit contains an Indicated Resource of 364,000 ounces of gold and an Inferred Resource of 247,000 ounces of gold at a cut-off grade of 0.5 g/t Au.
MAY 14, 2012, Vancouver, BC - Alto Ventures Ltd. ("Alto") TSX-V: ATV and Next Gen Metals Inc. ("Next Gen") TSX-V: N are pleased to announce assay results from the remaining holes of the 2012 drill program on the Destiny Gold project located near Val-d'Or, Quebec.

Results

Drill holes DES12-150 to DES12-155 are six of the 12 drill holes that tested for the presence of gold mineralization at shallower depth along strike between the DAC Deposit to the west and the Darla Zone to the east ( Figure 1) , thereby expanding the mineralized zone down-dip and along the strike. The results from these six drill holes together with the results from the six holes announced on April 10, 2012 confirm the presence of higher-grade gold values between the DAC Deposit and the Darla Zone (Figure 1). These higher grade values occur within broad lower-grade mineralization envelopes with strong alteration and shearing. Gold mineralization has been intersected over four kilometres along the Despinassy Shear Zone.

Drill hole DES12-154 was drilled on Section 317960E and intersected 22.7 g/t gold over 1.05m from 328.2 m to 329.25 m. Higher-grade intercepts in DES12-153 include 6.6 g/t gold over 1.0 m from 116.25 m to 117.25 m on Section 317860E, located 100 m west of DES12-154. Drill hole DES12-155 intersected 3.39 g/t gold over 1.0 m from 37.65 m to 38.65 m. This hole is located on Section 318460E and lies 200 m east of hole DES12-147 which intersected 78 g/t gold over 1.0 m (see April 10, 2012 news release)

In addition to the results highlighted above, each of the holes intersected sheared and altered rocks with anomalous gold values in several zones (Table1). The holes were drilled on nominal 100 m spacing to test the approximately one kilometre distance between the DAC Deposit and the Darla Zone. Each of the holes was drilled on an azimuth of 180°.

The results from the 12 widely spaced holes are very positive and confirm the presence of gold mineralization between the DAC Deposit and the Darla Zone and indicate that some of the gold zones could be linked for a total mineralization length of 2 km.

Twelve of the fifteen holes completed during the 2011-2012 drilling program focused on testing the under-explored area between the DAC Deposit and the Darla Zone at shallow depths (Figure 1). Three holes (DES11-141 to 143) were completed to test the Despinassy Shear Zone to the west of the DAC Deposit. The holes were drilled on Sections 316025E, 316125E and 316200E, between 700 m and 900 m to the west of the DAC Deposit. Each of the three holes intersected sheared and altered rocks and hole DES11-141intersected anomalous gold values including 0.865 g/t gold over 1.4 m. In total, 3,472 m were drilled in 15 holes during the 2011-2012 program.

The 2012 drilling has established that there is significant gold mineralization associated with the Despinassy Shear Zone between the DAC Deposit and the Darla Zone. An in-fill program of closer spaced holes will now be required to determine if the gold zones delineated with the current drilling have potential to add significant tonnes and ounces to the DAC Deposit.

As of January 2011, the DAC Deposit has an Indicated Resources of 10.8 Mt grading 1.05 g/t Au (at 0.5 g/t Au cut-off) for 364,000 ounces of gold and Inferred Resources of 8.3 Mt grading 0.92 g/t Au (at 0.5 g/t Au cut-off) for 247,000 ounces of gold. The DAC Deposit and the Darla Zone are two of several significant gold occurrences along a four kilometre segment of the Despinassy Shear Zone.

Hole Number

From (m)

To (m)

Width (m)
*downhole

Au (g/t)

DES12-150

 

35.3

93.7

132.5

148.5

175.5

185.5

36.3

102

133.5

158.5

178.5

188.7

1.0

8.3

1.0

10.0

3.0

3.2

1.54

0.43

2.78

0.39

0.78

0.69

DES12-151

90.6

95.0

4.4

1.07

DES12-152

114.0

121.3

7.3

0.34

DES12-153

and

27.0

116.25

36.75

117.25

9.75

1.0

0.34

6.6

DES12-154

129.45

197.45

328.2

135.6

206.4

329.25

6.15

8.95

1.05

0.3

0.7

22.7

DES12-155
includes

36.45
37.65

49.5

150.85

41.9
38.65

56.75

160.05

5.45
1.0

7.35

9.2

0.9
3.39

0.31

0.27


* Based on core angles and previous drilling on the property, true widths are estimated at approximately 80 to 90% of the down-hole 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.

About the Destiny Property

The property consists of 177 claims totalling 7,421 ha and is located approximately 100 km by road north of the city of Val-d'Or. The property is accessible by provincial highway 397 which passes through the property.

Next Gen is earning a 60% interest in the property from Alto.


Figure 1- Location map of 2012 diamond drill holes DES12-144 to 155 in the under-explored area between DAC Deposit and Darla Zone

About the DAC Deposit

The main area of mineralization on the Destiny Gold Property is the DAC Deposit which occurs over a strike length of about 600 m. In this area, five identifiable intervals of quartz veining and shear-related alteration zones carry significant gold mineralization for which a Mineral Resource Estimate Report was prepared in 2011.

The Mineral Resource Estimate Report was prepared for the DAC Deposit by Wardrop, a Tetra Tech Company (Wardrop) and filed on Sedar on March 7, 2011. Using a cut-off grade of 0.5 g/t gold and the Inverse Distance Squared (ID2) estimation method, the five gold zones that make up the DAC Deposit contain an Indicated Resource of approximately 10.8 million tonnes with an average grade of 1.05 g/t gold (364,000 contained ounces). In addition, the Inferred Resource totals approximately 8.3 million tonnes with an average grade of 0.92 g/t gold (247,000 contained ounces). The resources block considers the mineralization to start at approximately 15 m below surface down to a depth of 400 m for the deepest zone. The mineralization remains open below 400 m. For details regarding the resource estimate methods and calculation parameters used in preparation of the Report please see the news releases issued by Alto and PFN on March 7, 2011.

The Report can be view on each of the Company's websites at www.nextgenmetalsinc.com and www.altoventures.com

Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability.

The DAC Deposit remains open along strike and to depth and is one of several significant gold occurrences along a four kilometre segment of the Despinassy Shear Zone. The Darla Zone, which lies one km east of the DAC Deposit, was discovered in 2006. At this location, drilling intersected 19.5 g/t gold across 2.1 m and 20.6 g/t over 0.8 m . The gold mineralized sections within the Darla are similar to those hosting the gold zones at the DAC Deposit. The occurrences of high grade gold mineralization in the Darla, DAC and 20 and 21 zones clearly indicate that the mineralizing system persists across a significant portion of the property. The gold mineralization at these occurrences starts near surface, and with additional drilling these targets could add significant contained ounces to the already defined resources at 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 SGS Mineral Services preparation laboratory in Sudbury where they were crushed and a 250 gram pulp was prepared. The pulp was then shipped to SGS Mineral Services in Toronto for analyses. The gold assaying method uses a standard Fire Assay with ICP finish technique on a 30 gram aliquot taken from the 250 gm pulp. Commercially prepared standards and blanks were inserted by Alto every 25 samples to ensure precision of the results. The laboratory performs routine repeat check assays on pulps of selected samples to ensure internal lab quality control.

The laboratory was instructed to prepare and analyze a second 250 gram pulp from the reject for those samples that indicated gold values of greater than 1 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.

Qualified Person Statement

This news release has been reviewed and approved for technical content by Mike Koziol, P. Geo, a qualified person under the provisions of national instrument 43-101.

About Next Gen Metals Inc

Next Gen is a mineral exploration company whose current focus is on silver, gold and base metals projects in North America. The Company has acquired a 60% option interest (TSX.V: N) on the Destiny Gold Project (Indicated Resource of 364,000 ounces plus an Inferred Resource of 247,000 ounces of gold) In addition, Next Gen is presently advancing the Silver Chalice Project, located in Alaska, and the Fate Gold Project adjacent to the Destiny Gold Project, both of which are located in the Abitibi Greenstone Belt of Northwest Québec, one of the most famous gold and base metals regions in the world. Next Gen continues to aggressively negotiate for additional advanced-stage silver, gold and base metal projects on an international scale.

Next Gen http://www.nextgenmetalsinc.com is the newest company to join the International Metals Group ("IMG") (www.internationalmetalsgroup.com).

About Alto Ventures Ltd

Alto Ventures Ltd. Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold and base metals properties. The Company is active in Quebec in the Abitibi greenstone belt on the Destiny gold property and in Ontario, exploring in the Beardmore-Geraldton gold belt. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property.

For more details regarding the Company's projects, please visit our website at www.altoventures.com.


ON BEHALF OF THE BOARD,


Rick Mazur, P. Geo.,
CEO & Director


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:

Mike Koziol,
President and Director
ALTO VENTURES LTD.
Unit 8 -- 1351D Kelly Lake Rd
Sudbury, ON., P3E 5P5
Tel: 705-522-6372
Fax: 705-522-8856
Email: [email protected]
Website: www.altoventures.com

Matt Terriss,
Director, Corporate Affairs
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-638-3947
Fax: 604-689-3609
Email: [email protected]
Website: www.altoventures.com
 
 

You can view the Next News Releases item: Wed Jun 27, 2012, Foundation And Alto Amend Terms Of Coldstream Acquisition

You can view the Previous News Releases item: Tue May 8, 2012, Alto Confirms High Grade Gold Trend Over 2 km at 100% Owned Oxford Lake Property, Manitoba

You can return to the main News Releases page, or press the Back button on your browser.