🕐14.06.11 - 14:54 Uhr
DRILLING INTERSECTS 5.18 G/T GOLD AT THE EAST COLDSTREAM DEPOSIT
NEWS RELEASE
Drilling Intersects 5.18 g/t Gold at the East Coldstream Deposit, Ontario
Key Point Summary:
* 27.75 metre-wide zone averaging 0.75 g/t gold including 2.58 g/t gold
over 3.30 metres: Hole C-11-56
* 12.10 metre-wide zone averaging 1.20 g/t gold including 3.45 g/t gold
over 3.00 metres: Hole C-11-59
* 9.25 metre-wide zone averaging 1.78 g/t gold including 5.18 g/t gold
over 1.80 metres: Hole C-11-63
Vancouver B.C.
June 14, 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 the last four holes from
the Sanders and East zones of the East Coldstream Deposit (Deposit) and
12 exploration holes from other areas of the Coldstream Property
(Property) in north western Ontario.
The Deposit is currently subject to
an 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.
Of the four holes drilled at the Deposit, three (C-11-56, 57 and 59) were
drilled into the Sanders Zone, whereas drill hole C-11-63 was deliberately
drilled from the Sanders into the East Zone.
Drill hole C-11-56 targeted
the mineralization approximately 50 metres down plunge from drill hole
C-10-39, confirming the depth of gold mineralization to over 100 metres of
vertical depth.
Drill holes C-11-57, 59 and 63 tested the western edge of
the Sanders Zone at respective vertical depths of 130, 80, and 50 metres.
All four holes intersected gold mineralization of variable lengths and
grades as shown above in Table 1.
Drill hole C-11-56 intersected the widest
mineralization intercept of the four holes.
It intersected a 27.75-metre
wide mineralized zone averaging 0.75 g/t gold, including 1.93 g/t and 2.58
g/t gold over 4.25 m and 3.30 m, respectively.
Results of Exploration Holes
Of the 6,040 metres of drilling completed during the 2011 winter program, 15
holes totalling approximately 2,970 metres were drilled to test targets
other than the East Coldstream Deposit.
This drilling successfully
discovered new high grade gold mineralization in the Iris Lake area,
including 8.39 g/t gold over 11.0m (see News Release dated March 22, 2011).
The Iris Lake discovery is a new gold zone located approximately 1500 metres
to the north of the Deposit and will be the focus of future drilling.
Exploration drilling to the south and southeast of the Deposit has also
produced several significant gold targets for follow-up exploration.
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:
Alto Ventures Ltd.
910 - 475 Howe Street
Vancouver, BC V6C 2B3
Canada
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