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Windfall East

Introduction

The Windfall East property is located in the Urban Township, approximately 380 km northeast of Val d'Or, Quebec. Access from Val d'Or is by Provincial Highways 117 and 113 to the Town of Lebel-sur-Quevillon and then by major forestry access roads to within 1.5 km of the property and then by secondary logging roads to the property. The property covers 299 ha and is owned 100% by Alto Ventures. The property is strategically located approximately two kilometres east of the Windfall Lake gold deposit.

The Windfall Lake gold deposit is operated by Osisko Mining Inc. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from Osisko Mining Inc. website). The bulk of the mineralization occurs in the main zone, a southwest/northeast-trending zone of stacked mineralized lenses, measuring approximately 600 m wide and at least 1,400 m long. The deposit is well defined from surface to a depth of 500 m, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 m in others, with significant potential to extend mineralization up and down plunge and at depth.

In June 2017, Alto completed the sale of a 100% interest in the Windfall East property to Beaufield Resources Inc.. Terms were $300,000 cash, 2.75 million Beaufield shares and a 1% Net Smelter Return Royalty ("NSR") on the property with a buyback provision for 0.5% of the NSR by Beaufield for $1 million. Concurrently, Beaufield subscribed for 2,916,667 shares of Alto at a price of $0.12 per share for proceeds of $350,000.

Geology

The property lies within the Archean age Urban-Barry Greenstone Belt in Abitibi sub-province and includes mafic and intermediate volcanic rocks, mafic and felsic fragmental rocks and quart-feldspar porphyries. Many of the rocks are sheared and alteration of sheared rocks includes sericite, chlorite, carbonate, pyrite, chalcopyrite and pyrrhotite.

Gold is associated with sulphides along east and a northeast trending shear zones on the adjoining Windfall Property operated Eagle Hill Exploration to the east of Windfall East.

History

First significant work on the property was completed by Alto in 1997 and consisted of line cutting, ground magnetometer and IP/Chargeability survey. Prospecting and mapping programs were carried out in 2003 and 2004 and mechanical trenching in 2006.

The property is swampy and outcrop exposures are few, therefore the best exploration tools are ground geophysics followed by diamond drilling. The geophysical surveys completed by Alto have delineated several northeast and northwest trending structures.

An exploration program to test some of the IP anomalies was completed in January, 2011. Eleven drill holes totaling 1,687m were completed. Each of the drill holes identified the sources of the IP anomaly, mainly pyrite and pyrrhotite but no significant gold was found associated with the sulphides. The Company has no work planned at this time but of its strategic location, is waiting for the outcome of exploration work being completed by Eagle Hill on its adjoining Windfall Lake development project.

Maps

Windfall East Property - General Location

Windfall East Property - Chargeability Anomalies and 2011 DDH Locations

Windfall East Location Map Relative to Windfall Lake Gold Deposit

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This page was created on Sat Apr 4, 2020 at 7:11:33 AM Pacific Time.