Vancouver B.C. February 16, 2010: Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce the commencement of a 2,000m diamond drilling program on the East Coldstream Deposit at the Coldstream Property in Ontario. The exploration work is being funded by Foundation Resources Inc (FDN: TSX-V) which is earning an interest in the project and is also the operator.
The objective of the current drilling program is to in-fill gaps between the widely spaced historic drill holes and increase confidence in the continuity of the gold grades. The program is designed to pierce between historic drill holes that intersected significant gold mineralization at the North, Main, East and Sanders zones and moving the East Coldstream Gold Deposit towards an NI43-101 compliant resource estimate.
The East Coldstream Gold Deposit, with historically reported resources of 5.1 million tonnes averaging 1.4 g/t gold, with 234,000 contained ounces of gold was discovered by Noranda Exploration Ltd and was delineated by 37 diamond drill holes between 1988 and 1991. Noranda prepared the historical resource estimate in 1991 however a "qualified person" (as that term is defined in NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as current mineral resources (as defined in NI 43-101) and thus the historical estimate should not be replied upon. This resource estimate was based on relatively shallow drilling at 3 zones (the Main, North, and East zones).
This historical resource does not include the gold mineralization at the Sanders Zone, located east of the Main Zone, which was drilled by Lacana Mining Corp.(1989) and Alto Ventures Ltd.(2006) . Significant historical intercepts from previous drilling include: 2.61 g/t over 16.26m, 2.15 g/t over 22.16m and 1.12 g/t over 33.5m (Main Zone); 1.20 g/t over 23.67m (North Zone); 1.36 g/t over 24.05m (East Zone); and 1.25 g/t over 20.55m (Sanders Zone).
About the East Coldstream Deposit:
Mineralization at the East Coldstream Deposit occurs in intensely sheared, silicified and iron-carbonate altered mafic to felsic metavolcanic rocks and porphyries in a zone extending northeast over a 1.5 km strike length.
2009 field work has succeeded in identifying areas with strong potential to add tonnage to the East Coldstream Deposit. Channel sampling and mapping has identified the Sanders Zone as a potential extension along strike to the east. It has also been noted that historic drilling at all zones has been shallow and significant potential to expand the deposit to depth remains.
From a total of 78 grab samples taken in the area of the East Coldstream Deposit, 35 returned gold results greater than 0.5 g/t Au, and 9 of the samples returned greater than 5 g/t Au. These results confirm the historic mineralization and demonstrate a mineralized strike length of at least 1.5 km.
About the Coldstream Project
The Coldstream Property includes 5,394 hectares of staked and patented mining claims along the Trans Canada Highway 115 km west of the City of Thunder Bay, Ontario. The area is road accessible and has excellent infrastructure with a major power line and CN rail line passing just north of the property. Skilled labour is readily available locally.
The property is under an Option Agreement with Foundation Resources Inc. Foundation is the operator and is funding the current exploration program to earn an initial 60% interest.
For more details regarding the Company's projects, please visit our website at www.altoventures.com
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the Qualified Person who has reviewed and approved this news release.
About Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with a portfolio of highly prospective properties in the Canadian Shield. The Company is currently active in Quebec where it is focussed on the Destiny Gold project in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan gold districts.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President & 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 further information contact:
Mark Prosser
Investor Relations Manager
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-638-3947
Fax: 604-689-3609
Email: mark@altoventures.com
Website: www.altoventures.com
