Alto Ventures and Foundation Resources Drill 10 g/t Gold; Expand Main and East Zones at the East Coldstream Deposit, Northwestern Ontario
Published : April 20, 2011
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Keywords :   Canada | Gold | Market | Silica |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2011) - Alto Ventures Ltd. (News - Market indicators) -

Key Point Summary:

  • The Main and East zones of the East Coldstream Deposit are expanded by 180 and 120 metres, respectively and these drill results will be included in the upcoming NI 43-101 resource estimate.
  • 10.0 g/t gold over 4.0 metres within 13.0 metre-wide zone averaging 3.49 g/t gold - Main Zone
  • 5.16 g/t gold over 2.0 m and 1.14 g/t gold over 10.0 within 56.0 metre-wide zone averaging 0.50 g/t gold - Main Zone
  • 4.7 g/t gold over 2.0 m and 2.03 g/t gold over 2.0 m within 44.0 metre-wide zone averaging 0.53 g/t gold - Main Zone
  • 1.29 g/t gold over 13.05 m and 1.12 g/t gold over 12.0 m within 42.55 metre-wide zone averaging 0.93 g/t gold - East Zone

Alto Ventures Ltd. ("Alto") and Foundation Resources Inc. (TSX VENTURE:FDN) ("Foundation"), or together, "the Companies", are pleased to announce the results of three holes from the Main and East zones of the East Coldstream Deposit ("Deposit") on their Coldstream Property ("Property") in northwestern Ontario. More drill results from the Deposit will be reported as they become available. Of the 6,000 meters winter drilling program recently completed on the Property, approximately 3,000 metres were drilled with the objective of expanding all four zones (Main, North, East and Sanders) comprising the Deposit. 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). The remaining 3,000 metres were utilized in exploring other areas of the Property such as the Iris Lake target 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. Foundation is the operator of this program and owns a 60% interest in the Property and Alto owns the remaining 40%.

"The management and Board of both companies are very pleased to report continued drilling successes at the East Coldstream Deposit," comments Alto's President, Mike Koziol, P. Geo. Further, "These drill hole results have demonstrated greater strike lengths from the Main and East Zones of the East Coldstream Deposit which should add significant gold resources to the historic resource calculated by Noranda in 1990 (234,000 ounces gold: Non-NI 43-101 compliant historic resource*)."

Table of Significant Gold Assays

Drill Hole
From
(metres)
To
(metres)
Width**
(metres)
Gold**
(grams /tonne)
C-11-58        
(Main Zone) 64.00 120.00 56.00 0.50
  Including 110.00 120.00 10.00 1.14
  Including 110.00 112.00 2.00 5.16
         
C-11-60        
(Main Zone) 158.00 202.00 44.00 0.53
  Including 158.00 160.00 2.00 4.70
  Including 192.00 194.00 2.00 2.03
         
C-11-68        
(East Zone) 21.45 64.00 42.55 0.93
  Including 21.45 34.50 13.05 1.29
  Including 52.00 64.00 12.00 1.12
         
(Main Zone) 226.00 239.00 13.00 3.45
  Including 230.00 234.00 4.00 10.00
**Mineralized zones generally start at 0.1 g/t gold and assay averages may include minimal
intervals of waste material. No top cuts of assays were used.

All intervals are represented as down-hole core lengths with true widths estimated at 70 to 75 percent.

Of the three drill holes completed on the Deposit, two holes (C-11-58 and 60) 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. Drill hole C-11-68 expanded both the East and Main Zone laterally by intersecting mineralization approximately 120 metres from the western limit of the previously defined East Zone and 50 metres east of the Main Zone at their respective vertical depths of 15 and 180 metres. Drill hole C-11-68 intersected two significant gold intercepts, an upper and a lower. The upper 42.55 metre-wide intercept within the East Zone, averaged 0.93 g/t gold, including 1.29 g/t gold over 13.05 meters and 1.12 g/t gold over 12.0 metres. The lower intercept within the Main Zone has returned 10.0 g/t gold over 4.0 metres within 13.0 metre-wide zone averaging 3.49 g/t gold. Drill hole C-11-58 intersected 1.14 g/t gold over 10.0 metres within 56.0 metre-wide envelope, averaging 0.50 g/t gold. Drill hole C-11-60 returned 0.53 g/t gold over 44.0 metres including 4.70 g/t gold over 2.0 metres and 2.03 g/t gold over 2.0 metres.

Results from 23 holes are still pending and will be reported as they become available.

* A Qualified Person (QP), as defined in NI43-101, has not done sufficient work to classify this historical estimate as current mineral resources. Foundation is not treating the historical estimate as current mineral resources, as defined in NI43-101, and thus the historical estimate should not be relied upon.

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. Furthereploration 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.

Alto Ventures Ltd.
Mike Koziol
President and Director
705-522-6372
koziol@altoventures.com
or
Alto Ventures Ltd.
Rick Mazur
CEO & Director
604-689-2599
604-689-3609 (FAX)
info@altoventures.com
www.altoventures.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Alto Ventures

EXPLORATION STAGE
CODE : ATV.V
ISIN : CA0215502075
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Alto Ventures is a gold and cobalt exploration company based in Canada.

Alto Ventures holds various exploration projects in Canada.

Its main exploration properties are COLDSTREAM, DOG LAKE, EXPANSION LAKE, ALCUDIA, EAST COLDSTREAM, OXFORD LAKE, WINDFALL LAKE, COTE ARCHIE LAKE, MUD LAKE, EMPRESS PROJECT ( ALTO), THREE TOWERS, GREENOAKS, DESTINY GOLD and DESPINASSY in Canada.

Alto Ventures is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 6.0 millions as of today (US$ 4.6 millions, € 3.9 millions).

Its stock quote reached its highest recent level on May 22, 1998 at CA$ 9.10, and its lowest recent point on December 03, 2019 at CA$ 0.02.

Alto Ventures has 40 170 000 shares outstanding.

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Financings of Alto Ventures
11/7/2007Announces Closing Of Second And Final Tranches Of Private Pl...
Option Grants of Alto Ventures
12/18/2007 Elects Directors, Approves $1.8 Million Exploration Budget ...
Nominations of Alto Ventures
3/13/2007Appoints Koziol President
Project news of Alto Ventures
6/18/2013(Oxford Lake)Increases Land Holdings to 35,300 Hectares on Its 100% Owned...
6/27/2012(Coldstream)Foundation and Alto Ventures Amend Terms of Coldstream Acqui...
5/14/2012(Destiny Gold)Next Gen Metals Inc. and Alto Ventures Ltd. Intersect 22.7 G...
1/17/2012(Destiny Gold)Next Gen Metals Inc. and Alto Ventures Ltd. Resume 3,500 met...
7/19/2011(Destiny Gold)and Pacific North West Capital Commence First Phase of Explo...
7/6/2011(Coldstream)6,000 Metres of Diamond Drilling Commences at the Coldstream...
5/19/2011(East Coldstream)Drilling Continues to Hit Gold at the East Coldstream Deposi...
4/1/2011(Coldstream)Coldstream Property Expanded to the North of the High-Grade ...
3/22/2011(East Coldstream)New High-Grade Gold Intersected Approximately 1500 metres No...
3/17/2011(Alcudia)Receives Drilling Results From the 2011 Alcudia Project in t...
3/7/2011(Destiny Gold)and Pacific North West Capital Expand Gold Potential and Fil...
3/1/2011(East Coldstream)and Foundation Commission an NI43-101 Mineral Resource Estim...
1/24/2011(Destiny Gold)Updated NI 43-101 Mineral Resource Estimate Reports Signific...
10/5/2010(Coldstream)35.65 m Averaging 2.10 g/t Gold Intersected at the Sanders Z...
10/6/2009(Coldstream)Summer Exploration Program Completed on Coldstream Gold Proj...
12/11/2008(Mud Lake)2008 Exploration Program Identifies New Targets and Confirms...
10/1/2008(Greenoaks)CHANNEL SAMPLES UP TO 34.1 g/t (0.99 oz/ton) GOLD AT GREENOA...
9/4/2008(Greenoaks)PROVIDES EXPLORATION UPDATE ON BEARDMORE AREA PROJECTS
5/9/2008(Despinassy)Completes Winter Program, Receives Final Results From Drilli...
3/25/2008INTERSECTS HIGH GRADE GOLD AT DESPINASSY, QUEBEC
3/3/2008COMPLETES PURCHASE OF DESPINASSY PROJECT, QUEBEC AND STARTS ...
2/21/2008(Mud Lake)ALTO-WESCAN JOINT VENTURE CONTINUES TO INTERSECT GOLD ON THE...
1/29/2008(Mud Lake)GOLD INTERSECTED ON THE ALTO-WESCAN MUD LAKE PROJECT
10/4/2007(Mud Lake)Wescan Finalize Drill Contract For Mud Lake Project, Beardmo...
7/5/2007(Cote Archie Lake)Samples 8 g/t Gold at Cote-Archie Lake Project, Beardmoreger...
3/20/2006(Despinassy)continues to intersect high-grade gold at the DAC deposit, D...
Corporate news of Alto Ventures
8/18/2016Alto Stakes More Gold Claims at its 100% Owned Miner Lake Pr...
5/30/2016Final $150,000 Cash Payment Received From Sale Of Coldstream...
11/4/2015Alto Recovers 578 Gold Grains From Glacial Till Samples At M...
5/18/2015Priority Targets Identified From High-resolution Airborne Ma...
4/22/2015Priority Targets Identified From High-Resolution Airborne Ma...
4/1/2015Recovers Kimberlite Indicator Minerals on the West Fisher Cl...
4/1/2015Alto Ventures Recovers Kimberlite Indicator Minerals on the ...
2/26/2015Alto Ventures Ltd.: Priority Targets Identified From High-Re...
2/23/2015Alto Ventures Identifies Multiple Kimberlite Indicator Miner...
1/22/2015Alto Ventures Confirms Kimberlite Indicator Minerals on the ...
1/14/2015Alto Reviews 2014 Highlights and 2015 Exploration Plans
12/17/2014Alto Initiates Airborne Magnetometer Survey on Its Pikoo Are...
10/7/2014Alto Ventures Completes Till Sampling on Its Pikoo Area Diam...
9/9/2014Alto Ventures Commences Exploration on its Pikoo Area Diamon...
4/8/2014Alto Receives $750,000 in Virginia Mines Shares and Complete...
3/24/2014Alto Agrees to Sell its NSR Royalties on the Windfall and Al...
3/24/2014Alto Agrees to Sell Its NSR Royalties on the Windfall and Al...
3/19/2014Martin Doyle Adds Diamond Expertise To Alto's Board Of Direc...
3/19/2014Martin Doyle Adds Diamond Expertise to Alto's Board of Direc...
8/15/2013(Oxford Lake)Grab Samples 37.2 g/t Gold on Its 100% Owned Oxford Lake Pro...
4/11/2013Confirms Gold Potential for Over 1.6 km at Its 100% Owned Em...
9/19/2012Appoints New Director and Grants Stock Options
6/23/2011Summer Program Started at Miner Lake, Beardmore-Geraldton Go...
6/14/2011(East Coldstream)Drilling Intersects 5.18 g/t Gold at the East Coldstream Dep...
5/31/2011Announces Addition to Management Team
5/11/2011(East Coldstream)Drilling Indicates Continuity of Gold Mineralization, East C...
4/20/2011(East Coldstream)and Foundation Resources Drill 10 g/t Gold; Expand Main and ...
1/21/2009Provides Results from the Fall 2008 Exploration Programs
6/25/2008ALTO-WESCAN JOINT VENTURE
5/28/2008COMMENCES BUSY EXPLORATION SEASON ON BEARDMORE AREA GOLD PRO...
4/7/2008 e-invite to the Calgary Investment Conference
1/16/2008ACQUIRES MORE GROUND IN BEARDMORE-GERALDTON
12/11/2007 Samples 15.5 G/T Gold At Cote-801 Project, Beardmore-Gerald...
11/22/2007-Wescan Start Drilling Mud Lake Project, Beardmore-Geraldton...
10/17/2007Increases Financing To $2.65 Million
9/5/2007Acquires New Project In The Beardmore-Geralton Gold Belt
8/21/2007Wescan Joint Venture Approves $300,000 Fall Exploration Prog...
5/17/2007Retains Investor Relations Professional
3/20/2007Gold Intersected At Clarke Occurrence, Beardmore Area, Ontar...
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