- 78.7 g/t gold over 1.0 m intersected in an under-explored one-kilometre section of the Despinassy Shear Zone
- Gold mineralization and favourable alteration and structure now confirmed between the DAC Deposit and the Darla Zone
- As of January, 2011 the DAC Deposit contains an Indicated Resource of 364,000 ounces of gold and an Inferred Resource of 247,000 ounces of gold at a cut-off grade of 0.5 g/t Au.
April 10, 2012, Vancouver, BC - Alto Ventures Ltd. ("Alto") TSX-V: ATV and Next Gen Metals Inc. ("Next Gen") TSX-V: N are pleased to announce assay results from the first six holes of the 2012 drill program on the Destiny Gold project located near Val-d'Or, Quebec.
Results
Drill holes DES12-144 to DES12-149 were designed to test for the presence of gold mineralization at shallower depth along the strike between the DAC Deposit to the west and the Darla Zone to the east ( Figure 1) , thereby expanding the mineralized zone down-dip and along the strike. These six drill holes confirm the presence of higher-grade gold values that occur within a broad lower-grade mineralization envelope with strong alteration and shearing between the DAC Deposit and the Darla Zone.
Drill hole DES12-147 was drilled on Section 318260E and intersected 78.7 g/t gold over 1.0m from 87.5 m to 88.5 m within a higher grade envelope that averages 11.3 g/t gold over 8.0 m from 85.5 m to 93.5 m.
Drill holes DES-144 and DES-145 are located approximately 600m east of the DAC Deposit and collared on section 318160E, approximately 100 m west of Section 318260E. The space between the holes is approximately 100 m and the holes were drilled at an azimuth of 180°.
DES12-144 intersected several gold bearing intervals including 1.05 g/t gold over 10 m from 184 m to 194 m and 1.04 g/t gold over 11m from 206 m to 217 m. DES12-145 intersected several gold bearing intervals including 1.37 g/t gold over 3.25m from 85.25 m to 88.9 m with a higher grade section averaging 3.47 g/t gold over 1.35m from 86.45 m to 87.8 m
Holes DES12-146, 148 and 149 also intersected sheared and altered rocks with anomalous gold values (Table1). Results from the remaining six holes of the program will be released as they become available.
The results from these six holes are very positive and confirm the presence of gold mineralization between the DAC Deposit and the Darla Zone indicating that the two separate zones could be linked for a total mineralization length of 2 km.
The 2012 drill program has focused on testing the under-explored area between the DAC Deposit and the Darla Zone at shallow depths (Figure 1) and consisted of 3,472 m in 18 holes.
As of January 2011, the DAC Deposit has an Indicated Resources of 10.8 Mt grading 1.05 g/t Au (at 0.5 g/t Au cutoff) for 364,000 ounces of gold and Inferred Resources of 8.3 Mt grading 0.92 g/t Au (at 0.5 g/t Au cutoff) for 247,000 ounces of gold.
Table-1- Significant Gold Assays from Holes DES12-144 to 149
| Hole Number | From (m) | To (m) | Width (m) *downhole |
Au (g/t) |
|---|---|---|---|---|
| DES12-144 includes includes |
154.5 184 186 206 213 |
157 194 189 217 215 |
2.5 10.0 3.0 11.0 2.0 |
1.03 1.05 2.97 1.04 3.96 |
| DES12-145 includes |
60.35 85.25 86.45 110 134.7 146.7 |
62.6 88.9 87.8 120.3 135.3 154.5 |
2.25 3.65 1.35 10.3 0.7 7.8 |
1.87 1.37 3.47 0.52 2..75 0.42 |
| DES12-146 | 156.6 205.65 219.45 |
159.6 214.95 230.0 |
3.0 9.3 10.55 |
1.2 0.54 0.31 |
| DES12-147 includes and |
85.5 87.5 90.5 132.5 143.0 |
93.5 88.5 91.5 135.6 152.0 |
8.0 1.0 1.0 3.1 9.0 |
11.3 78.7 10.2 0.6 0.73 |
| DES12-148 | 156.0 177.0 |
157.0 182.0 |
1.0 5.0 |
1.33 0.33 |
| DES12-149 | 108.8 | 109.4 | 0.6 | 1.33 |
*Based on core angles and previous drilling on the property, true widths are estimated at approximately 80 to 90% of the down-hole 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.
About the Destiny Property
The property consists of 177 claims totalling 7,421 ha and is located approximately 100 km by road north of the city of Val-d'Or. The property is accessible by provincial highway 397 which passes through the property.
Next Gen is earning a 60% interest in the property from Alto.
Figure 1- Location map of 2012 diamond drill holes DES12-144 to 149 in the under-explored area between DAC Deposit and Darla Zone
About the DAC Deposit
The main area of mineralization on the Destiny Gold Property is the DAC Deposit which occurs over a strike length of about 600 m. In this area, five identifiable intervals of quartz veining and shear-related alteration zones carry significant gold mineralization for which a Mineral Resource Estimate Report was prepared in 2011.
The Mineral Resource Estimate Report was prepared for the DAC Deposit by Wardrop, a Tetra Tech Company (Wardrop) and filed on Sedar on March 7, 2011. Using a cut-off grade of 0.5 g/t gold and the Inverse Distance Squared (ID2) estimation method, the five gold zones that make up the DAC Deposit contain an Indicated Resource of approximately 10.8 million tonnes with an average grade of 1.05 g/t gold (364,000 contained ounces). In addition, the Inferred Resource totals approximately 8.3 million tonnes with an average grade of 0.92 g/t gold (247,000 contained ounces). The resources block considers the mineralization to start at approximately 15 m below surface down to a depth of 400 m for the deepest zone. The mineralization remains open below 400 m. For details regarding the resource estimate methods and calculation parameters used in preparation of the Report please see the news releases issued by Alto and PFN on March 7, 2011.
The Report can be view on each of the Company's websites at www.nextgenmetalsinc.com and www.altoventures.com
Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability.
The DAC Deposit remains open along strike and to depth and is one of several significant gold occurrences along a four kilometre segment of the Despinassy Shear Zone. The Darla Zone, which lies one km east of the DAC Deposit, was discovered in 2006. At this location, drilling intersected 19.5 g/t gold across 2.1 m and 20.6 g/t over 0.8 m . The gold mineralized sections within the Darla are similar to those hosting the gold zones at the DAC Deposit. The occurrences of high grade gold mineralization in the Darla, DAC and 20 and 21 zones clearly indicate that the mineralizing system persists across a significant portion of the property. The gold mineralization at these occurrences starts near surface, and with additional drilling these targets could add significant contained ounces to the already defined resources at the DAC Deposit.
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 SGS Mineral Services preparation laboratory in Sudbury where they were crushed and a 250 gram pulp was prepared. The pulp was then shipped to SGS Mineral Services in Toronto for analyses. The gold assaying method uses a standard Fire Assay with ICP finish technique on a 30 gram aliquot taken from the 250 gm pulp. Commercially prepared standards and blanks were inserted by Alto every 25 samples to ensure precision of the results. The laboratory performs routine repeat check assays on pulps of selected samples to ensure internal lab quality control.
The laboratory was instructed to prepare and analyze a second 250 gram pulp from the reject for those samples that indicated gold values of greater than 1 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.
Qualified Person Statement
This news release has been reviewed and approved for technical content by Mike Koziol, P. Geo, a qualified person under the provisions of national instrument 43-101.
About Next Gen Metals Inc
Next Gen is a mineral exploration company whose current focus is on silver, gold and base metals projects in North America. The Company has acquired a 60% option interest (TSX.V: N) on the Destiny Gold Project (Indicated Resource of 364,000 ounces plus an Inferred Resource of 247,000 ounces of gold) In addition, Next Gen is presently advancing the Silver Chalice Project, located in Alaska, and the Fate Gold Project adjacent to the Destiny Gold Project, both of which are located in the Abitibi Greenstone Belt of Northwest Qu̩bec, one of the most famous gold and base metals regions in the world. Next Gen continues to aggressively negotiate for additional advanced-stage silver, gold and base metal projects on an international scale.
Next Gen http://www.nextgenmetalsinc.com is the newest company to join the International Metals Group ("IMG") (www.internationalmetalsgroup.com).
About Alto Ventures Ltd
Alto Ventures Ltd. Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold and base metals 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. 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,
Rick Mazur, P. Geo.,
CEO & Director
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
Matt Terriss,
Director, Corporate Affairs
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-638-3947
Fax: 604-689-3609
Email: info@altoventures.com
Website: www.altoventures.com
