Alto Ventures and Pacific North West Capital Commence First Phase of Exploration Program on the Destiny Gold Project, Val d'Or, Quebec
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Diamond | Dollar | Gold | Market | Nickel | Platinum |
  • Exploration Program planned in two phases including:
    1. 2500 MMI™ Geochemistry Program
    2. 10,000 metre drill program to expand the known Resource in DAC Deposit
  • Mobile Metal Ion (MMI™) soil geochemistry survey has started.
  • MMI™ results could generate new drill targets at shallow depths along four kilometre strike of the favourable structure that hosts the DAC Deposit, with an Indicate Resource of approximately 364,000 ounces gold and an Inferred Resource of approximately 247,000 ounces of gold
  • Diamond drilling is slated to commence on expanded targets in Winter 2011

Alto Ventures Ltd. ("ATV") (News - Market indicators) and Pacific North West Capital Corp. ("PFN") (TSX:PFN)(OTCBB:PAWEF)(FRANKFURT:P7J) (together "the Companies") are pleased to announce that a Mobile Metal Ion (MMI™) soil geochemistry survey has commenced on the Destiny Gold Project located near Val d'Or, Quebec. The MMI™ survey is the first phase of a two phase exploration program. The second phase will include 10,000 m of drilling to expand the known Resource in the DAC Deposit.

The DAC Deposit is one of several significant gold occurrences along a four kilometre segment of the Despinassy Shear Zone ("DSZ"). The deposit is covered by a 15 m thick blanket of overburden and the other gold occurrences along the DSZ are also covered by overburden. The Companies believe there is excellent potential to expand the gold resources on the property at shallow depths in the areas covered by overburden and the MMI method is ideally suited for this type of terrain. An orientation survey completed in 2010 to test the method on one of the gold zones (Darla Zone) successfully located gold mineralization below the overburden cover.

The principal objectives of the survey are to extend the known mineralization in the DAC deposit, test the mineralization continuity between DAC, DARLA and Zone 20/21 and to better define shallow targets for a planned Diamond drilling program to be completed later this year (Figure 1). The Diamond drilling program will be designed to expand the NI43-101 Resource Estimate filed for the DAC Deposit with SEDAR on March 7, 2011 and includes 10.8 million tonnes averaging 1.05 g/t gold (364,000 ounces) as an Indicated Resource plus 8.3 million tonnes averaging 0.92 g/t gold (247,000 ounces) as Inferred Resource at a cut-off grade of 0.5 g/t gold.

The MMI survey consists of approximately 2,500 soil samples of which almost 60% will be along a four kilometre segment of the DSZ on strike from the DAC Deposit. The remaining samples will be collected over other high priority target areas generated from previous work on the property. Sample collection work has been contracted to Geos Sciences Inc of Rouyn-Noranda, Quebec and is currently in progress. Geos Sciences has more than 10 years of experience in MMI sampling and mineral exploration, including soil sampling, geophysical surveys and prospecting.

Mobile Metal Ion (MMI™) Geochemistry is an advanced surface exploration technique for finding mineral deposits and is a cost effective surface exploration tool. This technology measures mobile metal ions in surface soils. These mobile metal ions are released from ore bodies and travel upward toward the surface.

Using sophisticated chemical processes and instrumentation, MMI™ is able to measure these ions, in surface soils, to determine accurately where buried mineralization is located. The MMI analyses will be performed by SGS Mineral Services. Results from the MMI analyses are expected in September.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/atv_Fig01.pdf.

About the DAC Deposit

The main area of mineralization on the Destiny Gold Property is the DAC Deposit which occurs over a strike length of about 600 m. In this area, five identifiable intervals of quartz veining and shear-related alteration zones carry significant gold mineralization for which a Mineral Resource Estimate Report ("the Report") was prepared in 2011.

The Report was prepared for the DAC Deposit by Wardrop, a Tetra Tech Company ("Wardrop") and filed with SEDAR on March 7, 2011. At a cut-off grade of 0.5 g/t gold and using the Inverse Distance Squared (ID2) estimation method, the five gold zones that make up the DAC Deposit contain an Indicated Resource of approximately 10.8 million tonnes with an average grade of 1.05 g/t gold (364,000 contained ounces). In addition, the Inferred Resource totals approximately 8.3 million tonnes with an average grade of 0.92 g/t gold (247,000 contained ounces). The resources block considers the mineralization to start at approximately 15 m below surface down to a depth of 400 m for the deepest zone. The mineralization remains open below 400 m. 

The DAC Deposit remains open along strike and to depth and is one of several significant gold occurrences along a four kilometre segment of the Despinassy Shear Zone. The gold mineralization at the other occurrences also starts near surface, and with additional drilling these other occurrences may add significantly to the contained ounces on the property either as satellite zones to the DAC or as new deposits.

Results reported to date from the Destiny Project are very positive. Previous drilling programs have confirmed anomalous gold values along the DSZ and give rise to the possibility that additional shallow mineralization may be added to the currently defined resource through continued exploration. The Companies believe that there is excellent potential to significantly increase the contained ounces on the property.

A four million dollar program including drilling was recommended in the report by Wardrop. The recommended drilling is intended to target additional gold mineralization at shallow depths to increase the viability of an open pit mining scenario for the project.

The Report can be view on each of the Companies' websites at www.altoventures.com and www.pfncapital.com.

Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability.

Qualified Persons

Mike Koziol, P. Geo., P.Eng. is the Qualified Person who has reviewed and approved the technical content in this news release.

About the Destiny Property

The Destiny Project is under option from Alto Ventures Ltd to Pacific North West Capital. Under the terms of the option agreement, PFN can earn a 60% interest in the property over a four year period by completing $3.5 million in exploration expenditures, paying $200,000 and providing a total of 250,000 PFN shares to Alto. The property consists of 177 claims totalling 7,421 ha and is located approximately 100 km by road north of the city of Val-d'Or. The property is accessible by provincial highway 397 which passes through the property.

Pacific North West Capital has fulfilled its obligations for the first two years of the option term as outlined in the agreement.

For more details regarding the Company's projects, please visit our website at www.altoventures.com.

About Pacific North West Capital Corp.

Pacific North West Capital Corp. is a mineral exploration company focused on Platinum Group Metals (PGM), precious and base metals. Management's corporate philosophy is to be a project generator, explorer and project operator with the objective of option/joint venturing projects with major and junior mining companies through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, First Nickel, and Alto Ventures. In addition, Pacific North West Capital is a major shareholder of Fire River Gold Corp. (www.firerivergold.com).

Pacific North West Capital Corp. is a member of the International Metals Group of Companies. www.internationalmetalsgroup.com.

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 Quebec in the Abitibi greenstone belt where it has a number of projects including the Alcudia and Destiny gold properties. In Ontario, the Company is exploring in the Beardmore-Geraldton gold belt and the Coldstream project in the Shebandowan gold district. In the Chilcoten Plateau of British Columbia, the Company is exploring the Chilko project near the Newton gold deposit.

ON BEHALF OF THE BOARD,

Richard J. Mazur, P. Geo., CEO

Alto Ventures

EXPLORATION STAGE
CODE : ATV.V
ISIN : CA0215502075
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
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...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (ATV.V)FRANKFURT (3H8.F)
0.150-3.23%0.013+0.00%
TSX-V
CA$ 0.150
09/18 16:54 -0.010
-3.23%
Prev close Open
0.155 0.150
Low High
0.145 0.150
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.150 -%
Volume 1 month var.
16,500 -%
24hGold TrendPower© : -32
Produces
Develops
Explores for Diamonds - Gold - Silver
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2020500.00%0.240.02
201966.67%0.040.02
2018-76.92%0.070.02
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 8.24-0.12%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.99+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.84+0.26%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.53+3.52%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.71+4.11%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02-37.50%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.60+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.52+2.83%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+1.72%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.29-4.92%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.85+5.11%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 72.58+2.31%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.05+6.67%Trend Power :