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Message: From Canaccord Morning Coffee?

From Canaccord Morning Coffee?

posted on Mar 31, 2010 05:32PM

Foundation Resources* (FDN : TSX-V : $0.52), Net Change: 0.29, % Change: 126.09%, Volume: 9,104,260 - Alto Ventures* (ATV : TSX-V : $0.07), Net Change: 0.02, % Change: 40.00%, Volume: 13,027,949

Start with a good...Foundation announced results from the first two holes of its recently completed nine-hole 2010 winter drilling program on the East Coldstream Deposit, located on its Coldstream Property in Ontario. Foundation has an option to earn up to a 70% interest in the Coldstream property from Alto. Drill-hole C-10-14 had multiple higher-grade sections, including 11.80 g/t gold over 1.20 metres, within a 47.25-metre-wide zone averaging 1.30 g/t gold. Drill-hole C-10-15 included 13.55 g/t gold over 3.0 metres intersected within a 27.28-metre-wide zone averaging 4.88 g/t gold. Results are pending from the remaining seven completed drill holes. The nine-hole winter drilling program, totalling 2,090 metres, was intended to fill in gaps between the widely-spaced historic drill holes to confirm and expand non-NI 43-101 compliant historical resources of 5.1 million tonnes grading 1.43 g/t gold (234,000 contained ounces of gold) calculated in 1991 by Noranda in three zones: the North, Main and East zones. Foundation has a puny 7.7 million shares outstanding. Alto has roughly 100 million shares outstanding on a fully-diluted basis.

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