Vancouver, BC, November 27, 2006. Alto Ventures Ltd (ATV: TSX-V) is pleased to provide the following update on the Despinassy project near Val D'Or, Quebec, and the Coldstream and Beardmore area gold projects in Ontario. Highlights include:
- A 43-101 report on the 70% owned Despinassy gold project has been received from Hubacheck Consulting Geologists.
- Drilling on the 100% owned Coldstream gold project has confirmed and extended potentially bulk mineable gold mineralization with intercepts of up to 1.2 g/t gold over 68 metres.
- Alto has exercised its options to acquire 100% interest in the Mud Lake and Cote-Archie Lake projects in the Geraldton -- Beardmore gold camp, both containing undrilled high grade gold showings.
Despinassy, Abitibi, Quebec
Hubacheck Consulting Geologists (HCG, affiliated with W.A. Hubacheck Consultants Ltd.) has completed a National Instrument 43-101 Mineral Resource Estimate on the DAC Deposit based on the Phase 1 and Phase 2 drill programs carried out in 2005 and 2006. At the 3.0 g/t Au cut-off grade, HCG estimates that the Indicated Mineral Resources of the DAC Deposit total 167,000 tonnes at an average grade of 6.88 g/t Au. HCG estimates that the Inferred Mineral Resources total 445,000 tonnes at an average grade of 4.46 g/t Au using a 2.0 g/t Au cut-off grade. All high assays were cut to 75 g/t Au. Deep drilling by an earlier operator intersected significant gold mineralization at 600 m depth that is not included in the current resource estimates. Some of the intercepts from this deep hole include 26.6 g/t over 1.1 metres (m), 8.4 g/t over 1.0 m and 9.4 g/t over 1.4 m.
The Despinassy Deposit resource estimate is supported by 30 drill holes arrayed on a grid layout on 11 drill fence sections containing 2,274 assays. HCG has employed a geometric cross-section method supported by geostatistical 3D block modeling to estimate the gold resources within the DAC Deposit.
The geological interpretation is based on 11 north-south cross-sections spaced at 25 m apart covering a strike length of 300 meters along the mineralized trend. Level plans spaced at 25 m apart were used to check the geological interpretation. HCG classified areas which are supported by drill holes that are spaced at approximately 20 m to 30 m apart on section with section spacing of 25 m as "Indicated". Areas with wider spaced drilling, generally 30 m to 50 m apart, are classified as "Inferred". The Indicated resource lenses are supported by five to seven drill holes per section covering a vertical depth region from -25 m to -375 m below surface.
At Alto's request, HCG conducted independent verification and pulp metallic check assaying of the Despinassy database which are included in a NI 43-101 technical report that will be published on SEDAR within 45 days. This press release was reviewed and authorized by Peter Hubacheck, P.Geo. and Garth Kirkham, P. Geol., who have been designated as the Qualified Persons for the mineral resource estimation for the Despinassy project.
Drilling one kilometre to the east of the DAC deposit along the same shear/alteration corridor resulted in the discovery of the Darla Zone, where 19.5 g/t gold over 2.1 m was intersected. The discovery of the Darla Zone indicates potential for additional shallow gold resources and further demonstrates the exploration potential of the 6 km long Despinassy Shear Zone
Coldstream, Shebandowan, Ontario
During the past year, Alto made strategic land purchases that cover approximately 10 km of a prospective mineralized structure and completed a 2,062 m drill program on the East Coldstream gold deposit. Drilling has confirmed the wide zones of gold mineralization grading 1.2 g/t gold over 68 m and has extended the mineralization along strike. The mineralized system has now been traced for two km at East Coldstream and remains open along strike and to depth. (Alto news releases from August 9, 2006 and September 19, 2006.)
The East Coldstream gold deposit occurs at the northeast end of a linear corridor that extends westsouthwest for over 20 km and includes the North Coldstream Copper Mine (historical production of 102 million pounds of copper, 440,000 ounces of silver and 22,000 ounces of gold from 2.7 million tons of ore), Alto's Burchell property with multiple gold zones of up to 0.95 g/t gold over 34 m and the Moss Lake gold deposit with a historical resource of 60 million tonnes grading 1.1 g/t gold.
The styles of alteration and mineralization at East Coldstream display many characteristics of Iron-Oxide- Copper-Gold (IOCG) deposits found in other parts of the world. Recognition of this style of mineralization is significant since IOCG deposits are typically large deposits with substantial quantities of gold, copper and other metals.
Mud Lake, Cote-Archie Lake and Greenoaks, Beardmore, Ontario
Alto now owns 100% of three gold projects in the Beardmore-Geraldton gold camp (historical production exceeded 4 million ounces) following fulfillment of the purchase options for the Cote-Archie Lake and the Mud Lake projects.
There has been a recent upsurge in exploration activity in the Beardmore area with reported drilling successes by Kodiak Exploration on its Hercules project and Sage Gold at the Onaman River project. The Company's Mud Lake project is located immediately south of the Kodiak claims and covers a 6 km long shear structure with 13 undrilled gold showings grading from 0.1 g/t gold up to 50 g/t gold in grab samples. Earlier operators reported channel sample results of 0.735 ounces per ton across 5 feet from one of these gold showings. The Greenoaks projects is located at the west end of Kodiak property and contains a partially tested vein system with past drill intercepts of 1.2 ounces per ton gold across 5.1 feet.
The Company is also reviewing plans for the Cote-Archie Lake property, where gold mineralization up to 17.3 grams gold per tonne (Company News Release from November 17, 2004) occurs along shear structures trending parallel to those hosting the Leitch mine. The Leitch mine, 5 km to the southwest, produced 860,000 ounces of gold at a grade of 0.92 ounces gold per ton prior to its closure in 1968.
Mike Koziol, P.Geo. P.Eng. and Alto's Vice President, Exploration is the Qualified Person that 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 eleven properties in the Canadian Shield. The Company is focused on the Despinassy project in the Abitibi Greenstone Belt, Quebec, and the Shebandowan and Beardmore gold districts, Ontario.
ON BEHALF OF THE BOARD,
"Rick Mazur"
Richard Mazur, P.Geo.
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
Timea Carlsen
Manager of Corporate Communications
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC V6C 2B3
Tel: 604-638-3949
Fax: 604-689-3609
Email: info@altoventures.com
Website: www.altoventures.com
