🕐11.05.11 - 14:54 Uhr
DRILLING INDICATES CONTINUITY OF GOLD MINERALIZATION
Drilling Indicates Continuity of Gold Mineralization,
East Coldstream Deposit, North-western Ontario
Key Point Summary:
* 23.0 metre-wide zone averaging 1.04 g/t gold within 47.0 metre-wide
mineralized envelope grading at 0.72 g/t gold: Hole C-11-62 (North
Zone)
* 16.0 metre-wide zone averaging 1.06 g/t gold including 2.62 g/t gold
over 4.0 m: Hole C-11-62 (Main Zone)
* 23.0 metre-wide zone averaging 1.0 g/t gold including 2.66 g/t gold
over 5.75 m: Hole C-11-64 (Main Zone)
* 12.0 metre-wide zone averaging 1.14 g/t gold within 38.0 metre-wide
mineralized envelope grading 0.54 g/t gold: Hole C-11-64 (North Zone)
Vancouver B.C.
May 11, 2011: Alto Ventures Ltd.(ATV: TSX-V) (Alto)
and Foundation Resources Inc.
(FDN: TSX-V) (Foundation) or together the
Companies are pleased to announce the results of three more holes from the
Main and North zones of the East Coldstream Deposit (Deposit) on their
Coldstream Property (Property) in north western Ontario.
More drill
results from the Deposit will be reported as they become available.
The
Deposit is currently subject to a NI 43-101 compliant resource calculation
by Wardrop, a Tetra Tech Company (News Release dated March 01, 2011).
Alto
owns 40% of the project.
Foundation is the operator of this program and
owns a 60% interest.
Holes C-11-62 and 64 are infill holes to determine continuity of gold
mineralization between the core of the Main Zone and drill holes C-11-58 and
60 (News Release April 20, 2011).
Holes C-11-58 and 60 have expanded the
Main Zone laterally by intersecting gold mineralization approximately 180
and 120 metres from the western limit of the previously defined Main Zone at
their respective vertical depths of 100 and 160 metres.
In addition to
expanding the Main Zone, drill hole C-11-64 also extended the western limit
of the previously defined North Zone’s mineralized core by 65 metres at a
vertical depth of 200 metres.
Drill holes C-11-62 and 64, each intersected an upper and a lower
mineralized intercept, corresponding well with the interpreted Main and
North zones, respectively.
Hole C-11-62 intersected an upper 16.0
metre-wide intercept within the Main Zone, averaging 1.06 g/t gold,
including 2.62 g/t gold over 4.0 meters.
The lower intercept, corresponding
to the North Zone, returned 1.04 g/t gold over 23.0 metres within a47.0
metre-wide envelope averaging 0.72 g/t gold.
Drill hole C-11-64 also
intersected two gold intercepts, an upper and lower, corresponding to the
Main and North zones.
The upper intercept averages 1.0g/t gold over 23.0
metres including 2.66 g/t gold over 5.75 metres.
The lower intercept,
corresponding to the North Zone, returned 1.14 g/t gold over 12.0 metres
within a 38.0 metre-wide envelope averaging 0.54 g/t gold.
Drill hole
C-11-69 returned 0.74 g/t gold over 6.0 metres.
About 2011 Winter Drilling
Of the 6,000 meters winter drilling program recently completed on the
Property, approximately 3,000 metres were drilled with the objective of
expanding the four zones (Main, North, East and Sanders) at the East
Coldstream Deposit.
The remaining 3,000 metres were utilized in exploring
other areas of the Property such as the Iris Lake where the Companies have
discovered new high-grade gold mineralization (e.g., 8.39 g/t gold over 11.0
m) in three holes (News Release – March 22, 2011).
The Iris Lake high-grade
gold area is located approximately 1500 metres north of the East Coldstream
Deposit.
Quality Assurance/Quality Control (QA/QC)
Foundation has implemented a quality control (QA/QC) program which includes
the use of commercially produced standards and blanks.
Samples of split NQ
core are transported by Company personnel to the sample preparation lab of
ALS Chemex Laboratory in Thunder Bay where they were crushed and a 1000-gram
pulp was prepared.
The pulp was then shipped to ALS Chemex Laboratory in
North Vancouver, B.C.
for analyses.
The gold assaying method uses a
standard Fire Assay with ICP-AES technique on a 30-gram pulp material taken
from a 1000g split from the submitted sample.
For more details of QA/QC
procedures, please refer to Foundations July 21, 2010 news release.
Ike Osmani, M.Sc., P.Geo., the President of Foundation and the Qualified
Person for the Coldstream Project supervised the drill program and has
reviewed and approved the technical content of this news release.
About the East Coldstream Deposit
The East Coldstream Deposit is hosted within mafic to intermediate
metavolcanic rocks which have been intruded by dike/sill-like bodies of
quartz-feldspar porphyries and gabbros.
All these rock types have been
variably altered (silica, hematite, carbonate, chlorite) and deformed by
east to east-northeast striking North Coldstream Shear/Deformation Zone.
Gold is associated with 1 to 5 percent, fine-grained pyrite.
About the Coldstream Property
The 6234-hectare Coldstream Property is located along the Trans Canada
Highway 115 km west of the City of Thunder Bay, Ontario.
The area is road
accessible and has excellent infrastructure with a major power line and CN
rail line passing just north of the property.
Skilled labour is readily
available locally.
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
developing advanced projects at its Destiny gold property in Quebec and its
Coldstream gold property in Ontario.
Further exploration activities are
planned on its Beardmore-Geraldton gold properties, the Oxford Lake gold
project in Manitoba and the Chilko gold project in British Columbia.
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 8 - 1351D Kelly Lake Rd
Sudbury, ON., P3E 5P5
Tel: 705-522-6372
Fax: 705-522-8856
Email:
Rick Mazur,
CEO & Director
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-689-2599
Fax: 604-689-3609
Email:
==============================================
Unsubscribe from this list:
http://altoventures.us2.list-manage.com/unsubscribe?u=4b4d219b4d5620780286e848e&id=1a44da3b65&e=5a317ffddb&c=37769ded7d