Alto Commences Exploration at Oxford Lake Gold Project, Manitoba
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 28, 2017) - Alto Ventures Ltd. (TSX VENTURE:ATV) is pleased to announce the start of the 2017 summer field program on its 100% owned Oxford Lake gold project in mining-friendly Manitoba. Alto is conducting a program of geological mapping, prospecting and soil/rock sampling along a 30 km trend of magnetic highs that are associated with banded iron formation ("BIF") units. The program is designed to generate new targets and refine existing targets for a diamond drill campaign to be carried out during the winter of 2018.
Rick Mazur, CEO of Alto commented, "Oxford Lake is a frontier gold and base metal district that has been overlooked and underexplored. Alto's summer program will integrate historical exploration with new technologies and exploration models developed over the last 25 years."
Previous drilling discovered the Rusty Gold Deposit with a Historical Resource* of 800,000 tonnes averaging 6 g/t gold, containing approximately 154,000 ounces of gold and the Blue Jay gold zone two kilometres to the east (Figure 1). Noranda Exploration last conducted work on the property in 1992. Alto conducted a limited drill program in 2012 which confirmed multiple BIF zones including 2.7 m averaging 6.7 g/t gold including 22.5 g/t gold over 0.5 m and a second zone 6.8 m averaging 5.7 g/t gold including 11.7 g/t gold over 1.6 m and 16.5 g/t gold over 1.0 m at the Blue Jay Zone.
The Oxford Lake property covers over 35,000 ha of ground prospective for BIF associated gold deposits, syn-orogenic gold deposits associated with crustal scale faults and clastic meta-sedimentary basins, shear hosted gold deposits and volcanogenic massive sulphide copper-zinc-gold-silver deposits.
Alto's President, Mike Koziol, P. Geo. is a qualified person under the provisions of National Instrument 43-101 and approves the technical data and conclusions in this news release.
* The historical resources were estimated prior to NI43-101 standards being enacted and a Qualified Person (QP), as defined by NI43-101, has not done sufficient work to classify these historical estimates as current mineral resources. Alto is not treating the historical estimate as current mineral resources, as defined by NI43-101, and thus the historical estimates should not be relied upon.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/atv0628fig1.pdf.
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 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. 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
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
Alto Ventures Ltd.
Mike Koziol
President and Director
705-522-6372
koziol@altoventures.com
Alto Ventures Ltd.
Rick Mazur
CEO and Director
604-689-2599
mazur@altoventures.com
www.altoventures.com