Previous work on the newly acquired Dolsan property dates back to the 1980's and early 1990's and has resulted in discovery of two gold zones. The historical Dolsan showing hosts surface gold mineralization in banded magnetite-chert iron formation. Surface work consisted mainly of prospecting and trenching and gold values up to 5.6 g/t were reported in grab samples. Records for one diamond drilling program were found in the government assessment files and gold values of 1.7 g/t gold over 0.7 m were reported in drill core.
The other gold showing is located approximately 2 km southeast of Dolsan and was discovered in the mid 1980's by airborne geophysics and diamond drilling as this area is completely covered with overburden. Anomalous amounts of gold were reported including 2.4 g/t gold over 1m, 1.4 g/t gold over 4m, 2.3 g/t gold over 1m and 1.6 g/t gold over 1m. The gold is associated with massive pyrite and massive pyrite breccia zones in strongly altered mafic volcanics. Both of these gold showings have good airborne electromagnetic and magnetic signatures. There are several other northeast trending airborne electromagnetic and magnetic anomalies on the Dolsan Property that have been delineated by historical surveys but not drilled.
The Dolsan property consists of 42 recently staked claims and four purchased claims which together cover 2.238 ha. Under the terms of the Purchase Agreement for 100% interest in the four purchased claims, Alto will pay the Vendor a total one time payment of 50,000 Alto Shares. The Vendor will retain a 1% NSR royalty and Alto will have the right to buyout 100% of the royalty for $1,000,000.
The Purchase Agreement is subject to acceptance by the TSX Venture Exchange.
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 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 Shebandowan gold district. Recently, with the acquisition of the Chilko project in British Columbia, the Company has added large tonnage bulk-mineable porphyry style deposits to its exploration targets.
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:
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-689-2599
Fax: 604-689-3609
Email: info@altoventures.com
Website: www.altoventures.com
