- Surface work and drilling confirm widespread hydrothermal breccia zones with significant gold
- 39.2 m averaging 0.6 g/t gold drilled in hole MIN11-06
- Anomalous gold intersected in eight of nine holes completed
- Large area ( 2.5 km X 1.5 km) remains to be drill tested
October 18, 2011, Vancouver, BC -- Alto Ventures Ltd. ("ATV") TSX-V: is pleased to announce results from the 2011 summer exploration programs on its 100% owned Miner Lake Property located in the Beardmore-Geraldton Gold Belt, Ontario. The programs consisted of extensive surface bedrock sampling, geological mapping, mechanical and hydraulic stripping and diamond drilling. The surface exploration continued to build on work that started in 2010 and identified widespread breccia zones with persistent gold mineralization. The drilling program consisted of nine holes and was the first completed on the property by Alto. Eight of the nine holes intersected significant gold anomalies with hole MIN11-06 intersecting 39.2 m at an average grade of 0.6 g/t gold.
"Results from our 2011 program are very positive" commented Mike Koziol, President and Director of Alto. He adds, "The persistent and widespread distribution of gold in the numerous hydrothermal breccia zones is very encouraging because of the many similarities in style of mineralization to the Cote Lake deposit operated by Trelawney Resources. These early stage exploration programs have confirmed the presence of a large gold-mineralizing system on the property. The challenge now will be to drill into the economic heart of this gold system."
The surface exploration identified widespread hydrothermal breccia zones that contain anomalous gold mineralization within an intermediate intrusive body. The size potential of the mineralized breccia zones is not yet known but the intrusion hosting the gold has surface dimensions of approximately 2.5 km by 1.5 km (see Figure 1) and there are still large areas of the intrusion that have not been prospected and sampled. Gold values up to 4.31 g/t gold were obtained in the breccia zones from the 2011 surface sampling. The breccia zones occur mainly as east striking bands, up to tens of metres in width throughout the intrusion. The intrusion is also sheared and pervasive sulphide mineralization with anomalous gold and copper occurs associated with the sheared areas.
The diamond drilling consisted of 1,732 m in nine holes testing some of the breccia zones that were located during the 2010 and 2011 surface programs. Significant gold anomalies were intersected in most of the drill holes including a wide zone in MIN11-06 which intersected 39.2 m averaging 0.6 g/t gold. Hole MIN11-07 intersected three wide zones of significant gold mineralization (see Table 1). The gold-bearing breccia zones that were tested are open along strike and to depth. There are numerous other targets that require drilling.
The Miner Lake Property had been subject to sporadic exploration work prior to Alto's recent programs and only limited drilling was completed in the past. One historical hole (CM08-04) was drilled 100 m west of Alto hole MIN11-04 and it intersected 36.7 m averaging 0.25 g/t gold further confirming the widespread gold system.
Table 1 Gold Mineralized Intervals from the 2011 Miner Lake Drill Program
| Hole Name | From (m) | To (m) | Width (m)* | Au (g/t) |
|---|---|---|---|---|
| MIN11-01 | 74.5 85.45 |
76.5 88.45 |
2.0 3.0 |
0.43 0.27 |
| MIN11-02 | 130.1 | 141.75 | 11.65 | 0.19 |
| MIN11-04 | 42.0 | 50.09 | 8.0 | 0.21 |
| MIN11-05 | 132 | 151.65 | 19.65 | 0.31 |
| MIN11-06 includes |
9.8 13.4 87.5 |
49 14.9 98.0 |
39.2 1.5 10.5 |
0.60 4.24 0.38 |
| MIN11-07 | 9.0 32.5 58.0 77.0 115.0 123.0 |
27.5 47.5 59.0 94.0 116.0 124.0 |
18.5 15.0 1.0 17.0 1.0 1.0 |
0.38 0.74 1.95 0.26 1.71 2.03 |
| MIN11-08 | 77.2 | 89.0 | 11.8 | 0.38 |
| MIN11-09 | 38.0 | 38.9 | 0.90 | 1.76 |
*Based on core angles, true widths are estimated at approximately 70% of the downhole lengths reported. Mineralized zones generally start at 0.1 g/t gold and assay averages may include minimal intervals of waste material. No top cuts of assays were used.
Qualified Persons
Mike Koziol, P. Geo., P.Eng. is the Qualified Person who has reviewed and approved the other technical content in this news release.
About the Miner Lake Property
The Miner Lake Property is located approximately 35 km northeast of the Town of Beardmore, Ontario in the Beardmore-Geraldton Gold Belt. Year-round access to the property can be gained by Trans Canada Highway 11 and by major logging roads. Electric power is available from the main transition lines that parallel Highway 11, approximately 23 km south of the project. Labour, heavy equipment and mining supplies are readily available in nearby communities as well as Thunder Bay which is located approximately 250 road km from the project.
The property is owned 100% by Alto and together with the adjoining Greenoaks property, covers an area of 1,273 ha.
Figure 1 Miner Lake Property Geology and Drill Hole Locations Map
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 Quebec in the Abitibi greenstone belt on the Destiny gold property and in Ontario, exploring in the Beardmore-Geraldton gold belt and the Coldstream project in the Shebandowan gold district.
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.,
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:
Mike Koziol,
President and Director
ALTO VENTURES LTD.
Unit 8 -- 1351D Kelly Lake Rd
Sudbury, ON., P3E 5P5
Tel: 705-522-6372
Fax: 705-522-8856
Email: koziol@altoventures.com
Website: www.altoventures.com
Rick Mazur,
CEO & Director
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
