Vancouver, B.C., September 19, 2017. Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce highlights of results from the 2017 summer program in the Hyers Island area on the Oxford Lake project in Manitoba. Results from the magnetic trend hosting the Rusty banded iron formation ("BIF") associated gold deposit and the Cat Eye Bay area of the Oxford Lake project will be released in the near future. The Hyers Island area is one of three separate locations worked on in 2017 and lies near the south end of this large property, approximately six kilometres southwest from the Rusty gold deposit. The Oxford Lake property covers 36,000 ha of geology prospective for hosting BIF associated gold deposits, syn-orogenic gold deposits and gold associated with sulphide copper-zinc-silver mineralization.
The objectives of the 2017 rock grab sampling, geological mapping, and prospecting program were: 1) to verify grades at historical showings; 2) to follow up previously underexplored targets along a 30 km trend of magnetic highs that are associated with BIF units which host the historical Rusty Gold Deposit and the Blue Jay gold zone, and 3) to identify new targets. In total, 803 rock grab samples were collected on the entire Oxford Lake property and results reported here are from the Hyers Island area only. The results of the 2017 work, once fully compiled and interpreted will be incorporated into the data base in preparation for diamond drilling that is being planned for 2018.
2017 Exploration Highlights in the Hyers Island Area
Verification grab samples returned up to 109 g/t Au within a 15cm wide quartz-sulphide-carbonate vein from the south shore of Hyers Island; the vein also includes 16.9 g/t Ag, 0.7% Cu and 24% Zn. Several other notable gold and gold-base metals samples were obtained from narrow quartz-sulphide veins and sulphide pods near the south shore of Hyers Island including 7.2 g/t Au and 83.7 g/t Ag; 2.1 g/t Au and 24.1 g/t Ag; 1.2 g/t Au and 14.5 g/t Ag; and 2.3 g/t Au (see Figure 1).
Significant gold values with accessory silver and zinc were obtained from bedrock grab samples mineralized with pyrite and sphalerite on north Hyers Island including 4.9 g/t Au with 51 g/t Ag and 12.7% Zn; 1.8 g/t Au and 15.9 g/t Ag; and 2.9 g/t Au. These sulphide zones are from a few cm to several metres in width but the extent of these zones, controls on mineralization and continuity have not yet been determined. Other high-grade gold and silver values were obtained from a narrow quartz-sulphide vein located west of Hyers Island. The vein assayed 12.4 g/t Au with 48 g/t Ag.
The significance of the numerous gold and gold-base metals occurrences in the Hyers Island is not yet understood. Additional work is required in this area to better understand the controls on mineralization before drilling is carried out.
The Rusty and Blue Jay Banded Iron Formation Deposits
Results from the 2017 work along the 30 km trend of aeromagnetic highs hosting the Rusty Gold Deposit are currently being compiled and will be released in the near future. The Rusty Gold Deposit, reported to host Historical Resource* of 800,000 tonnes averaging 6 g/t Au and containing approximately 154,000 ounces of gold, is associated with BIF. In 2012, Alto drilled hole RUS12-03 in the Blue Jay area approximately two kilometres on trend and east of the Rusty Deposit. RUS12-03 intersected two zones of high-grade gold mineralization associated with the same extensive BIF unit as the Rusty Deposit. Results from one zone are 2.7 m averaging 6.7 g/t gold including 22.5 g/t gold over 0.5 m and from the second zone 6.8 m averaging 5.7 g/t gold including 11.7 g/t gold over 1.6 m and 16.5 g/t gold over 1.0 m. A single diamond drill hole completed in 1992 along this 30 km aeromagnetic trend intersected 0.98 g/t over 3.1 m in BIF in the Carrot River area located approximately 10 km west of the Rusty Gold Deposit. Minimal past exploration was completed in the overburden covered Carrot River area along this trend of tremendous potential for BIF gold mineralization.
* The historical resources were estimated prior to NI43-101 standards being enacted and a Qualified Person (QP), as defined by NI43-101, has not done sufficient work to classify these historical estimates as current mineral resources. Alto is not treating the historical estimate as current mineral resources, as defined by NI43-101, and thus the historical estimates should not be relied upon.
Rock grab samples were shipped to the ALS Canada laboratory in Thunder Bay, where the rocks were crushed and pulverized to prepare sample pulps up to 250 grams to 85% passing 75 microns. The pulps were then shipped by ALS Canada to their Vancouver laboratory for gold and multi-element analyses. The gold assaying method uses a standard Fire Assay with AA finish technique on a 30 gram sub-sample taken from a 250 gram split from the submitted sample. Check assays were performed on samples with gold values greater than 10 g/t Au using Fire Assay and Gravimetric finish. Commercially prepared standards were inserted Alto with each batch of samples shipped to ensure precision of the results.
The samples were also tested for 35 other elements using ICP Aqua-Regia digestion (ALS-ME-ICP41 35 element Aqua Regia). Ore grade analyses were performed on certain samples where base metal values exceeded the maximum detection ranges for the ICP-Aqua Regia methods.
Alto's President, Mike Koziol, P. Geo. is a qualified person under the provisions of National Instrument 43-101 and approves the technical data and conclusions in this news release.
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold properties. The Company is active in the Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario. In Manitoba, the Company is focused on the gold and base metals potential of the highly prospective but relatively under-explored Oxford Lake property. For more details regarding the Company's projects, please visit our website at www.altoventures.com.
ON BEHALF OF THE BOARD,
Richard J. Mazur, P. Geo.,
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:
President and Director
ALTO VENTURES LTD.
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CEO and Director
ALTO VENTURES LTD.
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Vancouver, BC, V6C 2V6