Alto Ventures Ltd. Commences Sonic Drilling at Destiny
Vancouver, June 27, 2019 - Alto Ventures Ltd. (TSXV: ATV) is pleased to announce the commencement of a 10 sonic drill hole orientation study on its Destiny project in Quebec. The study is in part a follow-up to the compilation work completed by Alto this past winter (see Alto news release dated February 27, 2019) and tests a number of analytical methods to determine if gold mineralization can be discovered using glacial dispersion overburden sampling techniques. The sonic holes will test the glacial dispersion from the currently known mineralized zones and several of the new targets identified from the extensive compilation of data completed earlier this year. In addition to the overburden sampling, each of the holes will be drilled into bedrock, from 1.5 to 3.0 m below the overburden, to determine the bedrock geology.
Destiny Gold Project, Quebec
The Destiny project hosts the DAC Gold Deposit*, one of several mineralized zones along a six km segment of the Despinassy shear which splays from the regionally extensive Chicobi Fault in the Abitibi subprovince. The DAC Deposit has Indicated Mineral Resources Ltd. of 10.8 million tonnes at an average grade of 1.05 g/t gold and Inferred Mineral Resources Ltd. of approximately 8.3 million tonnes at an average grade of 0.92 g/t gold using a 0.5 g/t gold cut-off grade. The estimated contained ounces in the Indicated category are 364,000 plus 247,000 ounces in the Inferred classification. At a cut-off grade of 1.0 g/t gold from approximately 15 metres below surface to a depth of 400 metres, the DAC deposit was estimated to include 3,858,800 tonnes at an average grade of 1.71 gpt Au Indicated (212,310 contained ounces gold) and 2,521,400 tonnes at an average grade of 1.53 gpt Au Inferred (124,390 contained ounces gold). The gold mineralization is open to depth and along strike.
In February, 2019 Alto completed a compilation of all drill, geophysical and geochemical data available for the project to determine if there are targets on the Destiny property that when drilled could significantly increase the gold resources on the project. In addition to the Gap and Darla zones, the compilation work has identified three target areas for follow up drilling (see Figure 1).
- Target 1 is located 800 m west of the DAC Deposit and is interpreted to lie along the western extension of DAC mineralization. This area was drilled previously by two holes, one of which intersected several intervals of anomalous gold. From the compilation work and interpretation of geology, it is believed that these holes stopped short of the main DAC target horizon and further drilling is required.
- Target 2 comprises Zones 20 and 21, located three km east of the DAC Deposit. These were sparsely tested by drilling and mineralization in both zones remains open on strike to the east and west and to depth.
- Target 3 is located approximately 500 m south of the DAC Deposit and is interpreted to be along the folded extension of the DAC mineralization. Previous drilling was limited to only two holes 300 m apart, and each intersected intervals of anomalous gold values.
Figure 1 Destiny Project - Location of target areas for future diamond drilling to increase the gold resources on the property
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4910/45951_6a4998cc0425784b_003full.jpg
In addition to gold, the Destiny property has high potential for VMS type deposits as indicated by the presence of airborne VTEM anomalies and the large number of previous drill holes at the DAC Deposit that intersected significant copper, zinc and lead mineralization associated with an exhalite unit containing semi-massive and massive sulphides (see Alto news releases dated February 18, 2010, April 12, 2010). Grades up to 5.79% copper, 3.42% zinc, 1.21 g/t gold and 117.0 g/t silver were intersected over 0.7 m core length at the DAC Deposit.
*The Resource Estimates for the DAC Deposit were calculated consistent with guidelines set out in National Instrument 43-101 and filed on Sedar on March 7, 2011. Mineral Resources Ltd. are not Mineral Reserves and by definition do not demonstrate economic viability.
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.
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.
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
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
Email: mazur@altoventures.com