Alto Stakes More Gold Claims at Its 100% Owned Miner Lake Property, Beardmore-Geraldton Gold Belt, Ontario
VANCOUVER, BC--(Marketwired - August 18, 2016) - . Alto Ventures Ltd. (TSX VENTURE: ATV) is pleased to report that it has increased the size of its Miner Lake property by over 30% to 3,328 ha through staking of six claims. The expansion of the property is in response to positive drill results where gold was intersected in eight of nine holes with one hole intersecting 39.2 metres averaging 0.6 g/t gold including 4.24 g/t gold over 1.5 metres. Gold mineralization is associated with altered hydrothermal breccia and shear zones hosted within a felsic intrusive. The newly staked claims cover the interpreted geological trend of gold mineralization. In addition, the large numbers of pristine gold grains recovered from several samples during the 2015 glacial till sampling program indicate the trend is prospective for gold mineralization.
The 100% owned Miner Lake property is located in the north Beardmore-Geraldton gold belt approximately 10 km north from the Brookbank Gold Deposit that is currently being explored by the Premier Gold Mines-Centerra Gold Joint Venture. The Brookbank Deposit is reported to contain 4.32 million tonnes of Measured and Indicated Resources averaging 1.41 g/t Au (196,000 ounces of gold) mineable by open-pit and 0.93 million tonnes Indicated Resource averaging 7.21 g/t Au (215,000 ounces of gold) mineable by underground methods.
Alto's President Mike Koziol, P. Geo. is a qualified person under the provisions of National Instrument 43-101. He has reviewed and approves the content in this news release.
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold and diamond properties. The Company is active in the Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property.
The Destiny gold property hosts several important gold zones including the DAC Deposit which has NI43-101 compliant Indicated Mineral Resources of approximately 10.8 million tonnes at an average grade of 1.05 g/t gold (364,000 ounces contained gold) plus Inferred Mineral Resources of approximately 8.3 million tonnes at an average grade of 0.92 g/t gold (247,000 contained ounces)*. The GAP and Darla zones lie east of the DAC Deposit along the same structure. Some of the results in the GAP and Darla zones include 78.7 g/t gold over 1.0 m within an 8 m interval averaging 11.3 g/t, 22.7 g/t gold over 1.05 m, 1.05 g/t gold over 10 m, and 1.04 g/t gold over 11.0 m.
The Oxford Lake project includes the historical Rusty Deposit of 800,000 tonnes averaging 6 g/t gold** and the Blue Jay Zone. Drilling in 2012 on the Blue Jay intersected two zones of high-grade gold mineralization: Zone One averages 6.7 g/t gold over 2.7 m including 22.5 g/t gold over 0.5 m and Zone Two averages 5.7 g/t over 6.8 m gold including 11.7 g/t gold over 1.6 m and 16.5 g/t gold over 1.0 m.
Alto's diamond land holdings total approximately 89,536 hectares in east-central Saskatchewan near recent diamond discoveries on the Pikoo Project. Surface work by Alto Ventures in 2014 and 2015 has identified several Kimberlite Indicator Mineral trains from glacial till sampling. Numerous anomalies with magnetic signatures that could be related to kimberlite intrusions were delineated by the high resolution airborne magnetometer survey flown by Alto Ventures in 2015.
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.,
CEO
* Todd McCracken, P.Geo, is a Qualified Person ("QP") for purposes of the NI 43-101 Report. He is responsible for preparing the Report and the Resource Estimate disclosed in the Report. Mr. McCracken, at time of filing of the Report on SEDAR was an employee of Wardrop a Tetra Tech Company, and independent from the Company as described in section 1.4 of NI 43-101. The Report was filed on SEDAR in March, 2011.
** The Historical Resource was estimated in 1990 and a Qualified Person (QP), as defined by NI43-101, has not done sufficient work to classify this historical estimate as current mineral resources. Alto is not treating the historical estimate as current mineral resources, as defined by NI43-101, and thus the historical estimate should not be relied upon.
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.
Contact
For further information contact:
Mike Koziol
President and Director
Alto Ventures Ltd.
Unit 7 - 1351C Kelly Lake Rd
Sudbury, ON., P3E 5P5
Tel: 705-522-6372
Fax: 705-522-8856
Email: koziol@altoventures.com
Rick Mazur
CEO and Director
Alto Ventures Ltd.
Suite 615-800 W. Pender Street
Vancouver, BC, V6C 2V6
Tel: 604-689-2599
Fax: 604-689-3609
Email: mazur@altoventures.com