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Alto Ventures Ltd.: Alto-Wescan Finalize Drill Contract for Mud Lake Project, Beardmore-Geraldton Gold Belt
Message: Alto Completes Winter Program, Receives Final Results From Drilling at Despinass
Alto Completes Winter Program, Receives Final Results From Drilling at Despinassy, Quebec
Symbol: ATV
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 8, 2008) - Alto Ventures Ltd. (TSX VENTURE:ATV) is pleased to announce final results from the 2008 winter diamond drilling program on its 100% owned Despinassy Project located 75 km north of Val d'Or, Quebec. Gold was intersected in each of the 17 holes completed including high grade of 20.6 grams per tonne (\"g/t\") gold across 0.8 m at the Darla Zone. This high grade occurs within a wider mineralized section averaging 7.0 g/t gold across 2.5 m in DES08-104 (see Alto news release dated March 25, 2008). DES08-114 intersected 5.3 g/t across 0.5 m at Zone 21 in Area 3.
The Despinassy property covers a strike length of approximately 10 km of the regionally extensive Despinassy Shear Zone (\"DSZ\") within the Abitibi greenstone belt. Gold mineralization was confirmed along a six km segment of the DSZ including the DAC Deposit, Darla Zone and Zones 20 and 21 in Area 3. At the DAC Deposit, Alto has delineated NI43-101 compliant resources of 167,000 tonnes grading 6.88 g/t gold in the Indicated plus 445,000 tonnes grading 4.46 g/t gold in the Inferred categories (see Alto news release dated November 27, 2006). The deposit is open to expansion at depth and along strike to the west.
The objectives of the current 4,338 m drill program were confirmed. They included; finding additional gold mineralization along the DSZ at shallow depths apart from the DAC Deposit, validating the size and extent of the alteration envelopes, and gauging the strength of the quartz-vein gold systems at the Darla Zone and Zones 20 and 21 in Area 3. The Darla Zone is located one km east of the DAC Deposit where previous drilling by Alto intersected 19.5 g/t gold across 2.1 m. Eight holes were completed in 2008 and anomalous amounts of gold (greater than 0.1 g/t) were intersected in each of the holes, including 20.6 g/t gold across 0.8 m; other higher grade values are illustrated in the table below. Based on the results of this and previous drilling, it appears that strong quartz veining and higher grade gold mineralization occur along a steep to vertically plunging shoot that is open to depth. Additional drilling will be carried out to evaluate this shoot.
Area 3 is located two kilometres east of the Darla Zone. Previous drilling at Zone 21 returned assays of 2.4 g/t gold across 6.0 m. Five holes were drilled to test Zone 21 at various depths along strike to the west of the previous gold intercepts. Gold was intersected in each of the holes and is associated with intense shearing and strong alteration including silicification, quartz veining, and pyrite mineralization, including 5.3 g/t across 0.5m. The need for additional drilling is supported by the strong alteration and pyrite mineralization intersected in these holes.
Previous drilling in Zone 20 intersected 4.6 g/t gold across 2.0 m. Four holes were completed and gold associated with strong shearing, alteration and abundant sulphide mineralization (mainly pyrrhotite and pyrite) was intersected in each of the drill holes. Additional drilling will be required to test Zone 20 and Zone 21 to the east of the previously intersected gold mineralization.
Gold on the Despinassy Project occurs mainly as free-gold in quartz veins associated with strongly altered shear zones. It is worth remembering that vein deposits, particularly those that contain visible gold show erratic distributions of grades. Therefore, in many cases, diamond drilling provides a good indication of geological continuity but not necessarily a true measure of grade distribution. The fact that strong shearing and quartz veining with visible gold were intersected during this program is encouraging.
Helicopter borne electromagnetic (using the Geotech Ltd. VTEM system) and magnetometer surveys were flown over the entire Despinassy property. The surveys were flown on 100 m line spacing and covered approximately 983 line kilometres. Data collected will be used to assist with structural interpretations and to identify new targets for future drilling. The data has been delivered to a qualified geophysicist for interpretation and the report is expected shortly.
Plans for additional work, including diamond drilling will be finalized after the information acquired from the current diamond drilling and airborne geophysical programs is incorporated into the Despinassy data base, compiled and interpreted.
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO, is the Qualified Person who has reviewed and approved this news release.
Quality Assurance/Quality Control
Core processing included descriptive logging and selection of samples for analyses. The NQ-size cores selected for analyses were sawed in half and one half was delivered to a commercial laboratory by Alto staff for analyses and the other half retained for future reference. Gold assays were performed at Bourlamaque Assay Laboratories Ltd in Val d'Or, Quebec. The gold assaying method uses a standard Fire Assay with AA finish technique on a 30 gram sub-sample taken from a 250 gram split from the submitted sample. Commercially prepared standards were inserted by Alto every 25 samples to ensure precision of the results. The laboratory performs repeat check assays every 20 samples on pulps to ensure lab quality control.
The laboratory was instructed to prepare and analyze a second 250 gram split from the reject for those samples that indicated greater than 1 g/t Au on the initial analysis. The gold assaying method on the re-split uses a standard Fire Assay with Gravimetric finish technique on a 30 gram sub-sample. If the variation between the two assay results is significant, sieve metallic assays are performed. The results reported represent composites using weighted averages of all analyses performed on each specific sample.
Robert J. Tremblay P. Geo. (Quebec), Consulting Geologist to Alto Ventures, is responsible for supervision of the diamond drilling program.
About Alto Ventures Ltd.
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of thirteen properties in the Canadian Shield. With a pipeline of quality projects, the Company's approach to maximizing opportunities while minimizing exploration risk is to attract well financed partners with the technical expertise to take the projects on to feasibility and subsequently production.
Alto's Management and Board of Directors have a long and successful track record of creating shareholder value through systematic exploration, acquisitions and discovery. The Company is currently active in Quebec where it is focussed on the Despinassy project in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan gold districts.
The Despinassy property covers a strike length of approximately 10 km of the regionally extensive Despinassy Shear Zone (\"DSZ\") within the Abitibi greenstone belt. Gold mineralization was confirmed along a six km segment of the DSZ including the DAC Deposit, Darla Zone and Zones 20 and 21 in Area 3. At the DAC Deposit, Alto has delineated NI43-101 compliant resources of 167,000 tonnes grading 6.88 g/t gold in the Indicated plus 445,000 tonnes grading 4.46 g/t gold in the Inferred categories (see Alto news release dated November 27, 2006). The deposit is open to expansion at depth and along strike to the west.
The objectives of the current 4,338 m drill program were confirmed. They included; finding additional gold mineralization along the DSZ at shallow depths apart from the DAC Deposit, validating the size and extent of the alteration envelopes, and gauging the strength of the quartz-vein gold systems at the Darla Zone and Zones 20 and 21 in Area 3. The Darla Zone is located one km east of the DAC Deposit where previous drilling by Alto intersected 19.5 g/t gold across 2.1 m. Eight holes were completed in 2008 and anomalous amounts of gold (greater than 0.1 g/t) were intersected in each of the holes, including 20.6 g/t gold across 0.8 m; other higher grade values are illustrated in the table below. Based on the results of this and previous drilling, it appears that strong quartz veining and higher grade gold mineralization occur along a steep to vertically plunging shoot that is open to depth. Additional drilling will be carried out to evaluate this shoot.
Area 3 is located two kilometres east of the Darla Zone. Previous drilling at Zone 21 returned assays of 2.4 g/t gold across 6.0 m. Five holes were drilled to test Zone 21 at various depths along strike to the west of the previous gold intercepts. Gold was intersected in each of the holes and is associated with intense shearing and strong alteration including silicification, quartz veining, and pyrite mineralization, including 5.3 g/t across 0.5m. The need for additional drilling is supported by the strong alteration and pyrite mineralization intersected in these holes.
Previous drilling in Zone 20 intersected 4.6 g/t gold across 2.0 m. Four holes were completed and gold associated with strong shearing, alteration and abundant sulphide mineralization (mainly pyrrhotite and pyrite) was intersected in each of the drill holes. Additional drilling will be required to test Zone 20 and Zone 21 to the east of the previously intersected gold mineralization.
Gold on the Despinassy Project occurs mainly as free-gold in quartz veins associated with strongly altered shear zones. It is worth remembering that vein deposits, particularly those that contain visible gold show erratic distributions of grades. Therefore, in many cases, diamond drilling provides a good indication of geological continuity but not necessarily a true measure of grade distribution. The fact that strong shearing and quartz veining with visible gold were intersected during this program is encouraging.
Table of Significant (Au greater than 1.0 g/t) Assay Results from Holes DES08-103 to DES08-119 -------------------------------------------------------------------------- From To Width Au Hole (m) (m) (m)(i) (g/t) Comments -------------------------------------------------------------------------- DES08-103 54.4 58.6 4.2 0.55 Darla Zone includes 55.5 56.6 1.2 1.07 120.0 130.1 10.1 0.53 includes 120.0 121.0 1.0 2.82 and 129.0 130.1 1.1 1.45 -------------------------------------------------------------------------- DES08-104 104.5 107.0 2.5 7.02 Darla Zone includes 105.2 106.0 0.8 20.63 2 grains of visible gold observed 114.5 136.7 22.2 0.35 includes 119.0 120.0 1.0 1.24 168.5 169.5 1.0 2.3 4 grains of very fine visible gold observed -------------------------------------------------------------------------- DES08-105 203.0 204.0 1.0 1.3 Darla Zone -------------------------------------------------------------------------- DES08-106 116.4 124.6 8.2 1.19 Darla Zone includes 117.1 117.9 0.8 2.35 and 123.2 124.6 1.4 3.82 146.4 147.4 1.0 1.39 -------------------------------------------------------------------------- DES08-108 34.2 34.7 0.5 2.2 Darla Zone -------------------------------------------------------------------------- DES08-111 309.6 314.6 5.0 0.96 Zone 20 includes 311.6 312.6 1.0 2.04 -------------------------------------------------------------------------- DES08-112 365.2 366.2 1.0 1.6 Zone 20 -------------------------------------------------------------------------- DES08-114 246.0 246.5 0.5 5.3 Zone 21 270.6 272.6 2.0 1.38 -------------------------------------------------------------------------- DES08-115 85.7 87.7 2.0 1.63 Zone 21 -------------------------------------------------------------------------- DES08-119 Darla Zone 196.0 198.0 2.0 2.81 5 grains of very fine VG 253.0 254.0 1.0 2.37 -------------------------------------------------------------------------- (i) Mineralized intervals reported are down-hole lengths as there is insufficient drill-hole density to estimate true widths.
Helicopter borne electromagnetic (using the Geotech Ltd. VTEM system) and magnetometer surveys were flown over the entire Despinassy property. The surveys were flown on 100 m line spacing and covered approximately 983 line kilometres. Data collected will be used to assist with structural interpretations and to identify new targets for future drilling. The data has been delivered to a qualified geophysicist for interpretation and the report is expected shortly.
Plans for additional work, including diamond drilling will be finalized after the information acquired from the current diamond drilling and airborne geophysical programs is incorporated into the Despinassy data base, compiled and interpreted.
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO, is the Qualified Person who has reviewed and approved this news release.
Quality Assurance/Quality Control
Core processing included descriptive logging and selection of samples for analyses. The NQ-size cores selected for analyses were sawed in half and one half was delivered to a commercial laboratory by Alto staff for analyses and the other half retained for future reference. Gold assays were performed at Bourlamaque Assay Laboratories Ltd in Val d'Or, Quebec. The gold assaying method uses a standard Fire Assay with AA finish technique on a 30 gram sub-sample taken from a 250 gram split from the submitted sample. Commercially prepared standards were inserted by Alto every 25 samples to ensure precision of the results. The laboratory performs repeat check assays every 20 samples on pulps to ensure lab quality control.
The laboratory was instructed to prepare and analyze a second 250 gram split from the reject for those samples that indicated greater than 1 g/t Au on the initial analysis. The gold assaying method on the re-split uses a standard Fire Assay with Gravimetric finish technique on a 30 gram sub-sample. If the variation between the two assay results is significant, sieve metallic assays are performed. The results reported represent composites using weighted averages of all analyses performed on each specific sample.
Robert J. Tremblay P. Geo. (Quebec), Consulting Geologist to Alto Ventures, is responsible for supervision of the diamond drilling program.
About Alto Ventures Ltd.
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of thirteen properties in the Canadian Shield. With a pipeline of quality projects, the Company's approach to maximizing opportunities while minimizing exploration risk is to attract well financed partners with the technical expertise to take the projects on to feasibility and subsequently production.
Alto's Management and Board of Directors have a long and successful track record of creating shareholder value through systematic exploration, acquisitions and discovery. The Company is currently active in Quebec where it is focussed on the Despinassy project in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan gold districts.
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