- High grade gold including 16.43 g/t (0.48 oz/ton) and 6.02 g/t (0.17 oz/ton) intersected in multiple zones within the DAC Deposit, assays for last 2 holes still pending
- Gold-mineralized wide shear zones include 25.3m at 0.51 g/t gold and 49.5m at 0.36 g/t gold
- Phase 2 program in progress
- NI43-101 Compliant Resource with potential for expansion
- Open along strike and to depth
****February 4th, 2010, Vancouver, BC - Alto Ventures Ltd. (ATV: TSX-V) and Pacific North West Capital Corp. ("PFN") (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J) are pleased to announce significant results from four diamond drill holes completed during Phase 1 drilling at the DAC Deposit on the Destiny Gold Project, Quebec. Results include high grade quartz veins containing up to 16.43 g/t gold over 0.5m (0.48 oz/ton) and 6.02 g/t gold over 1.2m (0.17 oz/ton) were intersected. Quartz veins occur within wide shear-related alteration systems which carry gold values of interest including 25.3m averaging 0.51 g/t and 49.5m averaging 0.36 g/t gold (see Table of Significant Gold Assays below).
The phase 1 program was completed on December 22nd, 2009 and consisted of 5,600m of drilling in 14 holes. These latest results and the results from previous holes of the Phase 1 drilling program, which include values up to 44.39 g/t gold (1.29 oz/ton) over 0.5m in quartz veins within wide mineralized shear zones that include 21.0m averaging 1.39 g/t, confirm the large size of the gold system at the DAC Deposit (see Alto and Pacific Northwest Capital news releases dated January 15, 2010). The results for the remaining two holes from the Phase 1 program will be released as they become available. The Phase 2 drilling program started on January 26, 2010. A Phase 3 program is slated for later this year and its size will depend on results obtained from the remaining holes from the Phase 1 program and results from Phase 2. The objectives of these programs are to expand the current NI-43-101 resources at the DAC Deposit through infill and step-out drilling. The results from the first 12 holes are very positive as they confirm continuity of gold mineralization between holes drilled previously, some of which were spaced from 100m to 200m apart. The mineralization remains open along strike and at depth.
Table of Significant Gold Assays
*Based on core angles and previous drilling, true widths are estimated at approximately 80 to 90% 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.
Pacific North West Capital has funded this $600,000 Phase 1 drill program and the work was managed by Alto. The Phase 2 drilling has started and work will continue in February. Pacific North West Capital will continue to fund the exploration work and Alto will act as program manager.
About the DAC Deposit
The main area of mineralization on the Destiny Gold Property is the DAC zone, which occurs over a strike length of about 600 m. In this area, four to five identifiable intervals of quartz veining and shear-related alteration zones carry high grade gold mineralization, with drill intersections up to 178.5 g/t gold over a drill width of 1.0 metres. The DAC zone hosts a NI 43-101 compliant indicated resource of 166,863 tonnes grading 6.88 g/t gold (36,892 ounces) and an inferred resource of 444,753 tonnes grading 4.46 g/t gold (63,839 ounces) calculated by W.A. Hubacheck Consultants Ltd. in 2007 (see "A Resource Estimate of the DAC Gold Deposit, Despinassy Twp., Val d'Or, Quebec" dated January 9, 2007, available on the Alto Ventures website). Drill-hole cross sections and a 3D model were generated for the DAC Deposit in 2008 and are posted on www.corebox.net.
The Destiny Gold Property is under Option to Pacific North West Capital Corp. Under the terms of the Option Agreement, Pacific North West Capital will pay Alto $200,000, provide Alto with 250,000 common shares of Pacific North West Capital, and complete a total of $3,500,000 in exploration expenditures over a four year period to earn a 60% interest in the Destiny Gold Property. Subsequent to vesting of its interest, Pacific North West Capital will form a joint venture with Alto to further develop the project
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the Qualified Person who has reviewed and approved this news release.
Quality Assurance/ Quality Control
Core processing included descriptive logging and selection of samples for analyses. The NQ-size cores were sawed in half and one half was delivered to a commercial laboratory. The samples were delivered to the Accurassay preparation laboratory in Sudbury where they were crushed and a 500 gram pulp was prepared. The pulp was then shipped to Accurassay Laboratories in Thunder Bay for analyses. The gold assaying method uses a standard Fire Assay with AA finish technique on a 30 gram aliquot taken from a 500 gram split from the submitted sample. Commercially prepared standards and blanks were inserted by Alto every 25 samples to ensure precision of the results. The laboratory performs repeat check assays every 10 samples on pulps to ensure internal lab quality control.
The laboratory was instructed to prepare and analyze a second 500 gram split from the reject for those samples that indicated gold values of between 1 g/t and 5 g/t on the initial analysis. The gold assaying method on the re-split uses a standard Fire Assay with Gravimetric finish technique on a 30 gram aliquot. Pulp metallic assays were performed on all samples the returned greater than 5 g/t gold on the first assay. The results reported represent mathematical averages of all analyses performed on each specific sample.
Robert J. Tremblay P. Geo (Quebec), Consulting Geologist to Alto Ventures, is responsible for supervision of the diamond drilling program.
About Pacific North West Capital Corp:
Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J.F) is a mineral exploration company focused on Platinum Group Metals (PGM), precious and base metals. Management's corporate philosophy is to be a Project Generator, Explorer and Project Operator with the objective of option/joint venturing projects with major and junior mining companies through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, First Nickel, Kinbauri Gold and Fire River Gold. Pacific North West Capital Corp. is well funded with an experienced management team and the ability to take advantage of the tremendous opportunities that are available in the mining sector today.
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 currently active in Quebec where it is focussed on the Destiny Gold project in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan gold districts.
For more details regarding the Company's projects, please visit our website at www.altoventures.com.
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:
Mark Prosser
Investor Relations Manager
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-638-3947
Fax: 604-689-3609
Email: mark@altoventures.com
Website: www.altoventures.com
