HCG concludes that a potential gold deposit ranging from 303,000 tonnes to 670,000 tonnes and with grades ranging from 6.8 to 7.8 g/t of gold has been outlined along a 300 m strike length and to a depth of 360 m. The parameters for this estimate include a 1.2 m true thickness and a drill hole spacing of 25 to 50 m for the lower range and the inclusion of 50 to 100 m drill hole spacings for the upper range. The deposit remains open along strike and to depth. HCG further concludes that the Despinassy gold project warrants additional work to increase and upgrade the DAC deposit to Indicated and Inferred classification and further develop other partially tested gold mineralized zones in the project area.
The classification of resources was not a mandate of the HCG study at this time. The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource on the property. It is uncertain if further exploration will result in the discovery of a mineral resource on the property.
Mr. Richard Mazur, P. Geo., President and CEO stated, "Alto is pleased that the HCG study confirms the continuity and potential grades of a possible gold deposit at DAC based upon the drilling to date. The Despinassy Shear Zone has significant potential as demonstrated by the abundance of gold intersections from past drilling along this major gold mineralized structure. Coupled with the Company's Coldstream and Oxford Lake Projects, Alto will gain recognition for its quality gold exploration prospects as gold prices approach US$500 per ounce."
Quality Assurance/Quality Control
Hubacheck Consulting Geologists (HCG), incorporated as W.A. Hubacheck Consultants Ltd., has participated on mineral and petroleum exploration programs on behalf of various concerns across Canada for over 30 years. The HCG study quoted above has been prepared by Peter Hubacheck, P.Geo. #1059 (Ontario) of HCG for Alto Ventures Ltd. HCG have not performed a site visit or reviewed QA/QC procedures affecting the Despinassy geoscience database. The information and conclusions are therefore based on information available to HCG at the time of the study. Historical data, reports and opinions from past Cameco drilling were verified by Mike Koziol, P.Geo. (Ontario), Alto's Vice President of Exploration and Qualified Person. Robert J. Tremblay, P.Geo. (Quebec), Consulting Geologist managed Alto's drill program and conducted a detailed examination of drill core from Cameco's past drilling which contributed to the geological interpretations that formed the basis of the HCG study. HCG granted permission to Alto to disclose comments from this study subject to National Instrument 43-101 Rules for Prohibited Disclosure 2.3 (2).
Appointment of CFO
The Company would also like to announce the appointment of Mr. Kerry Beamish as CFO and Corporate Secretary effective October 24, 2005. Mr. Beamish, BA, CGA, has acted as Alto's controller for the past year and his efforts have been recognized with this elevated appointment. Over the past 20 years Kerry has acted as Controller, Financial Analyst and Treasurer for a number of private and public companies. Alto's Board wishes to acknowledge the contributions of Mr. Robert Anderson for the past 18 months during the reorganization of the Company.
About Alto Ventures Ltd.
Alto is a gold exploration and development company with a portfolio of mid to advanced stage exploration properties in the Canadian Shield. The Company is focused on exploration and acquisition of mineral properties in the Abitibi greenstone belt in Ontario and Quebec as well as in historic gold producing districts in northwestern Ontario and Manitoba. For further information visit our website at www.altoventures.com
ON BEHALF OF THE BOARD
Richard Mazur, P.Geo.
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
Doug Fosbrooke
Investor Relations
604-681-2409
info@altoventures.com
