- 47.92 metres averaging 1.14 g/t gold intersected at the East Zone, including 9.69 g/t gold over 1.08 m
- 27.46 metres averaging 1.16 g/t gold intersected at the Sanders Zone including 10.05 g/t gold over 2.1 m
- Follow-up drilling planned in summer 2010
Vancouver B.C., April 21, 2010: Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce the results from the last four holes of the recently completed diamond drilling program on the East Coldstream Gold Deposit ("Deposit") at the Coldstream Property in Ontario. Foundation Resources Inc (FDN: TSX-V) is the operator and is funding this exploration program to earn an interest in the project.
Three (C-10-19, 20 and 21) of the four holes were drilled at the East Zone and the fourth (C-10-22) was drilled to intersect the Sanders Zone. The East Zone is located northeast of the previously reported Main Zone and each of the three holes intersected wide intervals of gold mineralization which include higher grade sections (see Table). Drill hole C-10-22 tested the Sanders Zone and intersected 27.46m averaging 1.16 g/t gold, including 10.05 g/t gold over 2.1 m.
Table of Significant Gold Assays
| Drill Hole | From (metres) |
To (metres) |
Width (metres) |
Gold (grams/tonne) |
| C-10-19 (East Zone) | 137.46 | 185.38 | 47.92 | 1.14 |
| Including: | 149.73 | 150.81 | 1.08 | 9.69 |
| 179.01 | 185.38 | 6.37 | 2.58 | |
| C-10-20 (East Zone) | 149.75 | 169.90 | 20.15 | 0.67 |
| Including: | 149.75 | 151.40 | 1.65 | 4.10 |
| C-10-21 (East Zone) | 77.85 | 104.20 | 26.35 | 1.08 |
| Including: | 100.50 | 104.20 | 3.7 | 5.19 |
| C-10-22 (Sanders Zone) | 65.57 | 93.03 | 27.46 | 1.16 |
| Including: | 90.37 | 92.47 | 2.10 | 10.05 |
Results from the 2010 program are very positive as they are some of best grades and widths drilled on the Coldstream property to date and they confirm continuity of gold mineralization between widely spaced historical holes. The drilling results also demonstrate the potential for increased grades (4.88 g/t gold over 27.3 m in C-10-14) and widths (111.3m averaging 1.12 g/t gold in C-10-16 testing the Main Zone) at the Deposit (see Alto news releases dated March 29 and April 6, 2010). Results from drill hole C-10-22 testing the Sanders Zone are particularly significant as this hole is located approximately 500 m northeast of the Main Zone and 125 m south of the East Zone, and the Sanders Zone was not included as part of the historical resources estimated for the Deposit in 1991.
Encouraged by the very positive drilling results, the Company believes there is potential to increase the size of the historical Deposit with additional drilling and Foundation is planning a follow-up program to continue to advance towards the preparation of an NI43-101 compliant resource estimate. The next phase of drilling is planned to commence during the 2010 summer season.
Drill hole C-10-19 was drilled at 160º/-55º to a depth of 233.78 metres, C-10-20 drilled at 158º/-52º to a depth of 197.21 metres, C-10-21 was drilled at 163º/-55º to a depth of 127.10 metres and C-10-22 was drilled at 155º/-47º to a depth of 150.55 metres. All intervals are represented as down-hole core lengths, with the true widths estimated between 70 -- 75 percent of core length.
Quality Assurance and Quality Control
Drill core processing included descriptive logging and selection of samples for geochemical analyses. The NQ-size core was cut in two halves using a stationary rock saw at the field camp in Kashabowie, Ontario. One-half of the core was delivered to the sample preparation lab of ALS Chemex Laboratory in Thunder Bay where they were crushed and a 1000-gram pulp was prepared. The pulp was then shipped to ALS Chemex Laboratory in North Vancouver, B.C. for analyses. The gold assaying method uses a standard Fire Assay with ICP-AES technique on a 30-gram pulp material taken from a 1000g split from the submitted sample. Any sample that exceeded upper detection limit of 10 ppm or grams was re-analyzed by the same Fire Assay method but with gravimetric finish. Commercially prepared standards and blanks were inserted by Foundation every 20 samples to insure precision of the results. ALS Chemex inserted its own standards, blanks and carried out duplicate analyses on sample pulps to ensure internal lab quality control. The lab for regular Fire Assay technique with an ICP-AES finish, inserted 1 blank at the beginning, 2 standards at random intervals, and 3 duplicates were analyzed at the end of the batch of every 84 samples. For the Fire Assay method with gravimetric finish, inserting 1 blank, 2 standards, and 1 duplicate followed the same procedure on a batch of every 20 samples.
Ike Osmani. P.Geo., is the Qualified Person for Foundation Resources Inc who supervised the program.
About the East Coldstream Deposit
The East Coldstream Gold Deposit, with historically reported resources of 5.1 million tonnes averaging 1.4 g/t gold (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. Gold mineralization starts on surface and this resource estimate was based on relatively shallow drilling at 3 zones (the Main, North, and East zones). The historical resource does not include the gold mineralization at the Sanders Zone which was drilled by Lacana Mining Corp. (1989) and Alto Ventures Ltd. (2006). The Sanders Zone is located northeast of the Main Zone and south of the East Zone.
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. Foundation then has the option to earn an addition 10%.
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: 604-689-2599
Fax: 604-689-3609
Email: mark@altoventures.com
Website: www.altoventures.com
