Alto Ventures

Published : January 24th, 2011

Updated NI 43-101 Mineral Resource Estimate Reports Significant Increase in Contained Ounces of Gold

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Alto Ventures updated ni 43-101 mineral resource estimate reports significant increase in contained ounces of gold

 

 

 

 

 

  • Indicated Resource contains approximately 364,000 ounces gold
  •  
  • Inferred Resource contains approximately 247,000 ounces of gold
  •  
  • DAC Deposit occurs at surface and is open in both strike and dip
  •  
  • Awaiting assay results from the Phase 3 drilling program
  •  

Alto Ventures Ltd. ("ATV") and Pacific North West Capital Corp. ("PFN") (together "the Companies") are pleased to announce receipt of a draft 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 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.

 

 

 

Indicated and Inferred resources have been determined for the DAC Deposit. The deposit is made up of narrow high grade gold-bearing quartz veins occurring within five parallel alteration zones (to view Figures 1 and 2 please click on: http://media3.marketwire.com/docs/atv124.pdf). These alteration zones carry gold at lower grades than the quartz veins but are significantly wider. The Wardrop report indicates that the additional drilling has expanded the DAC Deposit and significantly increased the contained ounces of gold.

 

 

 

At a cut-off grade of 0.5 g/t gold and using the Inverse Distance Squared (ID2) estimation method, the five gold zones contain an Indicated Resource of about 10.8 million tonnes with an average grade of 1.05 g/t gold (364,000 contained ounces). In addition, the Inferred Resource totals 8.3 million tonnes with an average grade of 0.92 g/t gold (247,000 contained ounces). Table 1 summarises the Resource Estimate at the 0.5 g/t cut-off.

 

Table 1: DAC Resource Estimation Summary (using ID2 method)

Class

Zone

Capping Grade (g/t)

Tonnes Above Capped Grade

Average Grade(g/t)

Average True Width (m)

Au Ounces

Indicated

1

7.53

1,395,600

0.84

16

37,760

 

2

19.63

2,942,700

1.19

30

112,644

 

3

6.66

1,370,700

0.99

12

43,675

 

4

10.80

3,542,600

1.06

21

121,221

 

5

14.00

1,573,900

0.97

15

49,231

 

Total

 

10,825,500

1.05

 

364,530

Inferred

1

7.53

971,900

0.70

16

21,724

 

2

19.63

1,841,100

1.06

30

62,487

 

3

6.66

725,500

0.93

12

21,759

 

4

10.80

3,085,300

0.89

21

88,767

 

5

14.00

1,706,600

0.96

15

52,854

 

Total

 

8,330,400

0.92

 

247,590

Table 2: Cut-off Sensitivities for the DAC Deposit Resource Estimate

Class

ID2 Cut-off (Au g/t)

Tonnes

Average Grade (Au g/t)

Contained Ounces Au

Indicated

0.2

24,275,300

0.65

509,960

 

0.4

14,371,800

0.90

415,780

 

0.5

10,825,500

1.05

364,530

 

0.6

8,225,700

1.21

318,840

 

0.8

5,359,200

1.48

255,370

 

1.0

3,858,800

1.71

212,310

 

1.5

1,820,100

2.26

132,490

 

2.0

979,900

2.73

86,100

 

 

 

 

 

Inferred

0.2

22,541,600

0.55

401,190

 

0.4

12,132,100

0.78

302,500

 

0.5

8,330,400

0.92

247,590

 

0.6

5,797,600

1.09

203,210

 

0.8

3,534,600

1.35

153,420

 

1.0

2,521,400

1.53

124,390

 

1.5

1,133,600

1.93

70,360

 

2.0

385,600

2.29

28,400

A cut off grade of 0.5 g/t gold was selected to tabulate the total resources based on the results of similar gold projects located in Ontario and Quebec. In addition, the following parameters were considered; 4:1 stripping ratio, operating costs of $14.30/tonne at 10,000 tonnes per day, long term gold price of $US973/troy ounce, $US to $Cdn conversion of 1.02 and gold recovery of 94%. The resources block considers the mineralization to start at approximately 15 m below surface down to a depth of 400m for the deepest zone (Zone 5).

 

 

 

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

 

 

 

Resource Classification and Description Block Model

 

 

 

Several factors were considered in the definition of a resource classification including: National Instrument 43-101 requirements, Canadian Institute of Mining, Metallurgy and Petroleum guidelines, the report author's experience with Archean and Proterozoic gold deposits, and spatial continuity based on variography of the assays within the drill holes.

 

Individual block models were established in Datamine for all five zones using one parent model as the origin. Drill hole spacing varies, with the majority of the drilling tightly spaced at 25 m. A block size of 5 x 2 x 5 m was selected in order to accommodate the more closely spaced drilling and the narrow nature of the mineralization. Sub-celling of the block model was used to allow the parent block to be split once in each direction to more accurately fill the volume of the wireframes, thus more accurately estimate the tonnes in the resource.

 

 

 

The interpolations of the five zones were completed using the Inverse Distance Squared (ID2) estimation method. The global block model statistics for the ID2 model were compared to the Nearest Neighbour (NM) model and the Ordinary Kriging (OK) model. In general there is agreement between the three models and larger discrepancies were reflected as a result of lower drill density in some portions of the model.

 

A copy of the final Report will be filed on SEDAR within 45 days of the date of this news release.

 

 

 

Qualified Person

 

Todd McCracken, P.Geo., is a Qualified Person ("QP") for purposes of NI 43-101. 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.

 

 

 

About the Destiny Property

 

The Destiny Project is under option from Alto Ventures Ltd. 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 and 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 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.

 

 

 

 

Alto Ventures

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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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3/25/2008INTERSECTS HIGH GRADE GOLD AT DESPINASSY, QUEBEC
3/3/2008COMPLETES PURCHASE OF DESPINASSY PROJECT, QUEBEC AND STARTS ...
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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...
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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...
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2/26/2015Alto Ventures Ltd.: Priority Targets Identified From High-Re...
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1/22/2015Alto Ventures Confirms Kimberlite Indicator Minerals on the ...
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9/9/2014Alto Ventures Commences Exploration on its Pikoo Area Diamon...
4/8/2014Alto Receives $750,000 in Virginia Mines Shares and Complete...
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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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