Vancouver, B.C., November 14, 2018. Alto Ventures Ltd. (ATV: TSX-V) has received results from the 1,010 m diamond drill program completed on the Miner Lake project in the Beardmore-Geraldton gold camp in Ontario. A total of five holes were drilled to further test the main East-West mineralized corridor as well as other targets on the property (see Figure 1). The current program continues to build on Alto's previous work that identified persistent anomalous gold mineralization in widespread breccia zones hosted by feldspar porphyritic diorite. Chlorite altered gold-bearing breccia zones associated with feldspar porphyritic diorite were intersected in each of the 2018 holes, with gold values ranging from under 0.002 g/t to 4.48 g/t/ Au in individual samples.
"Results from the current program are encouraging" commented Rick Mazur, CEO and Director of Alto. He adds, "The persistent and widespread distribution of gold in the numerous breccia zones in feldspar porphyritic diorite has confirmed the presence of a large gold mineralizing system on the property. Gold mineralization is getting stronger to the west and requires further drilling."
Figure 1 Miner Lake Compilation and 2018 DDHs
MIN18-10 was drilled 50 m west of the 2011 hole MIN11-07 to test the mineralized horizon 50 m deeper than MIN11-07. The drill hole intersected wide zones containing geochemically anomalous gold assaying from tens of ppb to hundreds ppb including the higher assay intervals presented in Table 1. MIN18-11 was drilled 50 m west of MIN11-06 and tested for mineralization 50 m deeper than MIN11-06. This hole also contains zones of geochemically anomalous values with intervals of higher concentrations as presented in Table 1 including 1.5 m averaging 4.48 g/t Au. MIN18-11 is the westernmost hole on this trend and mineralization remain open and untested to the west.
MIN18-12 and 13 tested the southern extent of the main E-W mineralized corridor approximately 800 m east of MIN18-10. The holes cut wide zones of shearing and weak to moderate chlorite and sericite alteration within feldspar porphyritic diorite and mafic volcanic rocks. Geochemically anomalous gold values were obtained from several sections within these holes but not as persistent as in MIN18-11 and 12. The higher gold values are presented in Table 1.
MIN18-14 was drilled approximately 0.5 km north of the main E-W mineralized corridor to test a second corridor of gold occurrences which trends parallel to the main E-W corridor. This hole also intersected geochemically anomalous gold throughout the hole including a more focused section of higher gold concentrations from 117.5 m to 139.5 m averaging 0.23 g/t Au over 22.0 m. The gold anomalies in this hole are associated with chlorite-altered breccia zones associated with feldspar porphyritic diorite similar to the geology and mineralization in MIN18-10 and 11.
A summary of the downhole intervals containing higher gold values are presented in Table 1.
Table 1 - Miner Lake 2018 DDH Anomalous Au Intervals*
|MIN18-10||From (m)||To (m)||Interval (m)||Au (g/t)|
*The intervals reported are down-hole lengths as there is insufficient drilling density to determine the true widths. 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.
Drilling by Alto in 2011 intersected significant gold mineralization in hole MIN11-06 including a 39.2 m wide zone averaging 0.6 g/t gold followed by a second zone averaging 0.385 g/t Au over 10.5 m (see Alto news release dated October 18, 2011). Hole MIN11-07, located 100 m east of MIN11-06, intersected 38.5 m averaging 0.483 g/t Au in an upper zone and a second zone averaging 0.259 g/t Au over 17.0 m. Anomalous gold occurs with disseminated and veinlet-controlled sulphides including pyrrhotite, chalcopyrite and pyrite within zones of chlorite altered hydrothermal breccia and brittle-ductile faulting associated with feldspar porphyritic diorite. These gold intercepts and breccia zones occur along the main E-W mineralized corridor that extends for over one km as is known now and it is open on strike to the east and west.
Quality Assurance/ Quality Control
Core processing included descriptive logging and selection of samples for analyses. The BTW-size cores were sawed in half and one half was delivered to AGAT Laboratories in Thunder Bay, Ontario where they were crushed and a 250 gram pulp was prepared. The pulp was then assayed for gold. The gold assaying method uses an industry standard Fire Assay with AA finish technique on a 30 gram aliquot taken from the 250 gm pulp (AGAT method codes 202-051). Commercially prepared standards were inserted by Alto at predetermined intervals to ensure precision of the results. The laboratory performed routine repeat check assays on pulps of selected samples to ensure internal lab quality control.
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. 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.
Unit 7 -- 1351C Kelly Lake Rd
Sudbury, ON., P3E 5P5
CEO and Director
ALTO VENTURES LTD.
Suite 615-800 W. Pender Street
Vancouver, BC, V6C 2V6