Alto Ventures Ltd.
TSX VENTURE : ATV

Alto Ventures Ltd.

April 07, 2010 09:00 ET

111.3 Metres Wide Zone Averaging 1.12 g/t Gold Drilled on Alto Ventures Coldstream Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2010) - Alto Ventures Ltd. (TSX VENTURE:ATV) -

  • 111.3 m wide zone averaging 1.12 g/t gold; includes 8.68 g/t gold over 6.3 m
  • 67.95 m wide zone averaging 1.1 g/t gold; includes 9.33 g/t gold over 5.05 m
  • Results still pending for remaining four drill holes

Alto Ventures Ltd. is pleased to announce the results from three more holes of the recently completed diamond drilling program on the East Coldstream Deposit ("Deposit") at the Coldstream Property in Ontario. Foundation Resources Inc (TSX VENTURE:FDN) is the operator and is funding this exploration program to earn an interest in the project.

Of the three holes, two were drilled (C-10-16 and C-10-17) at the Main Zone and the third (C-10-18) was drilled to intersect both North and Main zones by the same hole. All three drill holes intersected wide zones of gold mineralization, which include multiple higher grade intersections. Gold in these drill holes is associated with up to 10 percent disseminated to blebby pyrite, and occurs within strongly sheared and hydrothermally altered (silica, albite, sericite, magnetite and hematite) zone of mafic to intermediate metavolcanics and quartz-feldspar porphyry intrusive rocks. Significant results are as follows:

Table of Significant Gold Assays

Drill Hole From (metres) To (metres) Width (metres) Gold (grams/tonne)
C-10-16 (Main Zone) 133.80 245.10 111.30 1.12
  Including: 177.40 198.25 20.85 3.41
  which also includes: 187.00 193.30 6.30 8.68
         
C-10-17 (Main Zone) 48.02 90.42 42.40 0.68
  Including: 53.41 54.06 0.65 7.58
  78.24 81.38 3.14 2.50
         
C-10-18 (North Zone) 89.05 157.00 67.95 1.10
  Including: 131.95 137.00 5.05 9.33
         
(Main Zone) 208.65 231.15 22.50 0.88
  Including: 208.65 216.25 7.60 1.48
  227.70 231.15 3.45 2.21

Drill hole C-10-16 was drilled at 155 degrees/-59 degrees to a depth of 276.46 metres, C-10-17 drilled at 157 degrees/-47 degrees to a depth of 160.63 metres, and C-10-18 drilled at 160 degrees/-58 degrees to a depth of 285.60 metres, are located approximately 100m southwest, 100m south and 240m west-southwest, respectively, to an earlier reported drill hole C-10-14 (News Release March 29, 2010). All intervals are represented as down hole core lengths, with the true widths estimated between 70–75 percent of core length. Assay results for the remaining four holes completed in the 2010 program will be released as they become available.

The objectives of the nine-hole, 2,090 m drilling program were to in-fill gaps between the widely spaced historic drill holes and increase confidence in the continuity of gold grades at the historical Deposit. The program was designed to intersect significant gold mineralization at the North, Main, East as well as the Sanders zones and start to advance the East Coldstream Gold Deposit towards an NI 43-101 compliant resource estimate. Results from the first five holes of the 2010 program are very positive as they are some of the best grades and widths drilled to date on the Coldstream project and they significantly increase the potential for delineation of a large, bulk tonnage gold deposit.

Quality Assurance and Quality Control

Drill core processing included descriptive logging and selection of samples for geochemical analyses. The NQ-size core was cut in two-halves using a stationary rock saw at the field camp in Kashabowie, Ontario. One-half of the core was delivered to the sample preparation lab of ALS Chemex Laboratory in Thunder Bay where they were crushed and a 1000-gram pulp was prepared. The pulp was then shipped to ALS Chemex Laboratory in North Vancouver, B.C. for analyses. The gold assaying method uses a standard Fire Assay with ICP-AES technique on a 30-gram pulp material taken from a 1000g split from the submitted sample. Any sample that exceeded upper detection limit of 10 ppm or grams was re-analyzed by the same Fire Assay method but with gravimetric finish. Commercially prepared standards and blanks were inserted by Foundation every 20 samples to insure precision of the results. ALS Chemex inserted its own standards, blanks and carried out duplicate analyses on sample pulps to ensure internal lab quality control. The lab for regular Fire Assay technique with an ICP-AES finish, inserted 1 blank at the beginning, 2 standards at random intervals, and 3 duplicates were analyzed at the end of the batch of every 84 samples. For the Fire Assay method with gravimetric finish, inserting 1 blank, 2 standards, and 1 duplicate followed the same procedure on a batch of every 20 samples.

Ike Osmani. P.Geo., is the Qualified Person for Foundation Resources Inc who supervised the program.

About the East Coldstream Deposit:

The East Coldstream Gold Deposit, with historically reported resources of 5.1 million tonnes averaging 1.4 g/t gold (234,000 contained ounces of gold) was discovered by Noranda Exploration Ltd and was delineated by 37 diamond drill holes between 1988 and 1991. Noranda prepared the historical resource estimate in 1991 however a "qualified person" (as that term is defined in NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as current mineral resources (as defined in NI 43-101) and thus the historical estimate should not be replied upon. Gold mineralization starts on surface and this resource estimate was based on relatively shallow drilling at 3 zones (the Main, North, and East zones). The historical resource does not include the gold mineralization at the Sanders Zone, located east of the Main Zone, which was drilled by Lacana Mining Corp. (1989) and Alto Ventures Ltd. (2006).

About the Coldstream Project

The Coldstream Property includes 5,394 hectares of staked and patented mining claims along the Trans Canada Highway 115 km west of the City of Thunder Bay, Ontario. The area is road accessible and has excellent infrastructure with a major power line and CN rail line passing just north of the property. Skilled labour is readily available locally.

The property is under an Option Agreement with Foundation Resources Inc. Foundation is the operator and is funding the current exploration program to earn an initial 60% interest. Foundation then has the option to earn an addition 10%.

For more details regarding the Company's projects, please visit our website at www.altoventures.com.

Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the Qualified Person who has reviewed and approved this news release.

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.

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.

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