Alto Ventures and Pacific North West Capital Expand Gold Potential and File NI 43-101 Resource Estimate Report on SEDAR, Destiny Gold Project, Quebec
Published : March 07, 2011

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2011) - Alto Ventures Ltd. (News - Market indicators) and Pacific North West Capital Corp. (TSX:PFN)(OTCBB:PAWEF)(FRANKFURT:P7J) -

  • Significant increases in contained ounces for the DAC Deposit, with approximately 364,000 ounces gold "indicated" and approximately 247,000 ounces of gold "inferred"
  • All holes from 2010 drilling campaign intersect anomalous gold mineralization
  • Four kilometres of strike potential identified by drilling
  • Report recommends a $4M expansion drilling program

Alto Ventures Ltd. ("ATV") and Pacific North West Capital Corp. ("PFN") (together "the Companies") are pleased to announce the filing on SEDAR of an NI 43-101 Technical Report (the Report), including a new Mineral Resource Estimate for the DAC Gold Deposit, on the Destiny Project located near Val d'Or, Quebec. The Companies have also received final assay data for the 3-hole exploratory drill program conducted in late 2010 and provide an update on future plans to expand the mineral resource at the Destiny Gold Project.

NI 43-101 Mineral Resource Estimate Report

The Mineral Resource Estimate was initially reported in news releases from the Companies on January 24, 2011. The Report was prepared by Wardrop, a Tetra Tech Company (Wardrop) and incorporates over 7,600 m of additional drilling that was completed on the deposit subsequent to an earlier NI 43-101 compliant resource estimate calculated by W. A. Hubacheck Consultants Ltd. and filed on SEDAR in 2007. The Wardrop report indicates that the additional drilling has expanded the DAC Deposit and significantly increased the contained ounces of gold over that which was reported in 2007.

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 400m for the deepest zone (see Figure 1). The mineralization remains open below 400 m. For details regarding the resource estimate methods and calculation parameters used in preparation of the Report please see the news releases issued from the Companies on January 24, 2011.

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

2010 Drilling Results

Results from the three-hole Diamond drilling program completed on the Destiny property in December were received. Each of the three drill holes (DES10-139, 140 and DES08-113X) had a specific objective with respect to defining controls on the mineralization at the Destiny Gold Project. These are summarized as (1) to test selected Borehole Electromagnetic (BHEM) conductors and assess the association of areas of sulphide mineralization with gold mineralization, and (2) to test for shallow gold mineralization to the south of the DAC deposit where the recently completed high resolution magnetic survey identified magnetic signatures similar to DAC (see news release dated December 16, 2010).

Previous drilling revealed massive sulphide mineralized lenses locally adjacent to the gold mineralization (see NR dated April 12, 2010). The Companies interpreted these sulphide lenses as important to the gold mineralizing system and completed BHEM surveys in certain drill holes to trace the extent of the massive sulphide mineralization and to help guide drilling at depth.

Drill hole DES10-139 tested an off-hole conductor near the west end of the DAC Deposit. The hole was also drilled deeper to fully intersect the five DAC gold zones. Three lenses of massive sulphides were intersected from 360 m to 374 m downhole. The lenses vary in width from one metre to 3.2 m and are made up of mainly pyrrhotite and pyrite and carry anomalous amounts of base metals confirming that the BHEM method is effective at targeting the massive sulphide mineralization. The hole also intersected anomalous amounts of gold at the western end of the DAC gold zones. These results confirm that the wide envelope of anomalous gold mineralization at the DAC deposit persists (Table 1).

DES10-140 tested the geology south of the DAC Deposit. This hole cut several areas of shearing, alteration and weakly anomalous gold mineralization. The hole returned one assay of 3.45 g/t across 0.3 m (see Table 1) indicating the prospectivity for more gold mineralization at shallow depths across strike, making for a potentially thicker deposit.

At the Zone 20 target area, more than 3 km east of the DAC deposit, drill hole DES08-113X was deepened from 200 m to 550 m to test an off-hole BHEM conductor and test Zone 20 at greater depths. The conductor is explained by narrow veins of pyrrhotite and pyrite mineralization. Anomalous gold coincident with Zone 20 was intersected from 468.7 m to 488 m (see Table 2). The results from this hole confirm that the gold system associated with the Despinassy Shear is extensive along strike extending from the west of the DAC Deposit for four kilometres to Zone 20. The gold mineralization also persists at depth both at the DAC Deposit to below 600m and Zone 20 to below 400m.

Hole Name From (m) To (m) Width (m) Au (g/t)
DES10-139 377.95 406.25 28.3 0.35
         
  414.8 437.8 23.0 0.24
         
  450.0 453.7 3.7 0.53
         
  518.75 527.05 8.3 0.34
DES10-140 118.05 118.35 0.3 3.45
DES08-113X 380.4 381.5 0.95 3.15
         
  468.7 470.95 2.25 1.01
         
  477.9 488.0 10.1 0.34

Table 1: Gold Mineralized Intervals from the 2010 - 3 hole exploratory drill program*

*Based on core angles and previous drilling, true widths are estimated at approximately 80 to 90% of the downhole lengths reported. 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.

Summary and Future Plans

The NI 43-101 resource estimate indicates that the gold zones start near surface and are considered by the Companies to be amenable to an open pit mining scenario. 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 (see Figure 2).

Results reported to date from the Destiny Project are very positive. The recent drill program has confirmed anomalous gold values across strike 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 exploration and expansion program was recommended in the report by Wardrop. Major exploration programs for later this year are in the planning stages. The programs will consist of surface geochemical surveys over the Despinassy Shear, to help locate specific drill targets, followed by Diamond drilling. The drilling is intended to target additional shallow gold mineralization to increase the viability of an open pit mining scenario for the project.

Qualified Persons

Todd McCracken, P.Geo., is a Qualified Person ("QP") for purposes of NI 43-101 Report. He is responsible for preparing the Report and the Resource Estimate disclosed in the Report. Mr McCracken is an employee of Wardrop, and independent from the Companies as described in section 1.4 of NI 43-101. He has read and approved the technical disclosure in this press release pertaining to the Report.

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

To view Figures 1 and 2 accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/atv37.pdf

About the Destiny Property

The Destiny Project is under option with 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.

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, 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 Chilcotin Plateau of British Columbia, the Company is exploring the Chilko project nearby the Newton gold deposit. 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 more information, please contact

Alto Ventures Ltd.
Mike Koziol
President and Director
705-522-6372
705-522-8856 (FAX)
koziol@altoventures.com
www.altoventures.com
or
Alto Ventures Ltd.
Rick Mazur
CEO & Director
604-689-2599
604-689-3609 (FAX)
info@altoventures.com
www.altoventures.com

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
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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...
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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
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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...
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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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