Alto Ventures Ltd.

Alto Ventures Ltd.

September 22, 2010 09:30 ET

Alto Ventures Ltd.: 45.95 m Zone Averaging 1.05 g/t Gold Intersected at Coldstream in Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2010) - Alto Ventures Ltd. (TSX VENTURE:ATV) -


  • 45.95 metre-wide zone averaging 1.05 g/t gold including 2.90 g/t gold over 10.55 m

  • 89.80 metre-wide zone averaging 0.62 g/t gold including 3.52 g/t gold over 4.05 m

  • 20.45 metre-wide zone averaging 1.37 g/t gold including 14.4 g/t gold over 0.95 m

Alto Ventures Ltd. is pleased to announce the assay results from another five recently completed drill holes of an 8,000 m drill program on the East Coldstream Gold Deposit ("Deposit") located at the Coldstream Property in Ontario. Results from the first eight holes of the current program were reported previously. The work is being carried out by Foundation Resources Inc. (FDN: TSX-V), which is the Project Operator and is funding this exploration program to earn an interest in the Coldstream Property.

Table of Significant Gold Assays

Drill Hole From (metres) To (metres) Width (metres) Gold (grams/tonne)
C-10-30 (East Zone) 142.10 231.90 89.80 0.62
Including 145.25 147.55 2.30 1.20
Including 155.80 159.50 3.70 1.44
Including 168.25 172.30 4.05 3.52
Including 178.25 180.25 2.00 1.26
Including 191.85 203.70 11.85 1.09
Including 212.20 215.50 3.30 1.97
C-10-31 (East Zone) 156.75 172.05 15.30 0.61
C-10-33 (East Zone) 165.30 185.75 20.45 1.37
Including 165.30 169.60 4.30 2.75
Including 184.80 185.75 0.95 14.40
  202.90 213.65 10.75 1.07
Including 202.90 207.65 4.75 2.00
  238.95 249.10 10.15 1.13
C-10-34 (East Zone) 196.05 200.55 4.50 0.73
  219.80 225.45 5.65 0.94
  236.40 238.70 2.3 1.01
C-10-36 (East Zone) 128.55 174.50 45.95 1.05
Including 128.55 134.90 6.35 2.14
Including 146.60 149.90 3.30 1.10
Including 163.95 174.50 10.55 2.90

All five holes (C-10-30, C-10-31, C-10-33, C-10-34 and C-10-36) were drilled into the East Zone. Drill hole C-10-33 and C-10-36 intersected high-grade gold intercepts within a wide mineralized zone, verifying that gold mineralization is open down plunge at depth. The principal purpose of these holes is to continue filling the gaps between well-mineralized historic holes to both confirm and expand the historic resource of the Deposit to NI 43-101 compliant standards.

All intervals are represented as down-hole core lengths, with the true widths estimated at 70 to 75 percent of core length.

Results from the first eight holes of the current program were reported on July 21 and September 8, 2010 and include 3.07 g/t gold over 13.9 m intersected within a 34.5 m wide zone averaging 1.93 g/t gold. Drilling continues to return positive results with a majority of the holes reported from the 2010 winter and the current programs intersecting wide mineralized zones that include multiple intersections of high-grade gold mineralization in variable core lengths. Gold is associated with disseminated pyrite and occurs within strongly sheared and hydrothermally altered (silica, albite, sericite, magnetite and hematite) mafic to intermediate metavolcanics and quartz-feldspar porphyry intrusive rocks.

The drill program is continuing and additional results will be released as they are made available.

Quality Assurance and Quality Control

Drill core processing included descriptive logging and selection of samples for geochemical analyses. The NQ2-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 ensure 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. For regular Fire Assay technique with an ICP-AES finish, the lab 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 has supervised the program.

About the East Coldstream Deposit:

The Deposit, with historically reported resources of 5.1 million tonnes averaging 1.4 g/t 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 which was drilled by Lacana Mining Corp. (1989) and Alto Ventures Ltd. (2006). The Sanders Zone is located northeast of the Main Zone and south of the East Zone and was further tested by one hole (C-10-22) during the 2010 winter program. Hole C-10-22 intersected a 27.46 m wide zone averaging 1.16 g/t gold, including 10.05 g/t gold over 2.1 m.

The Coldstream property lies adjacent to the Moss Lake gold deposit where recently reported NI 43-101 resource estimates include 1.1 million ounces in total indicated and 0.52 million ounces in the total inferred categories.

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

Mike Koziol, P.Geo., P.Eng., 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 active in Quebec in the Abitibi greenstone belt where it has a number of projects including the Alcudia and Destiny gold properties. In Ontario the Company is exploring in the Beardmore-Geraldton gold belt and the Shebandowan gold district. Recently, with the acquisition of the Chilko project in British Columbia, the Company has added large tonnage bulk-mineable porphyry style deposits to its exploration targets.


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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