Alto Ventures 8.26 g/t Gold Over 3.35 Metres Intersected at the Sanders Zone - East Coldstream Deposit, Ontario
8.26 g/t Gold over 3.35 Metres Intersected at the Sanders Zone - East Coldstream Deposit, Ontario
Vancouver, Canada, July 28, 2011 --(PR.com)-- Key Point Summary:
· 8.26 g/t gold over 3.35 metres within 32.75 metre-wide zone averaging 1.03 g/t gold in hole C-11-71
· 2.27 g/t gold over 1.80 metres in drill hole C-11-70
Alto Ventures Ltd. (ATV: TSX-V) (“Alto”) and Foundation Resources Inc. (FDN: TSX-V) (“Foundation”) are pleased to announce the results of two drill holes from the Sanders Zone of the East Coldstream Gold Deposit (“Deposit”), Northwestern Ontario. These completed holes are part of a 6,000-metre drill program comprised of two main objectives: A) expanding the Deposit both laterally and down-plunge, and B) further exploring and developing the high-grade gold discovery (8.39 g/t gold over 11.0m – News Release dated March 22, 2011) as a result of a successful 2011 winter drilling program at Iris Lake. The Iris Lake discovery is located approximately 1500 metres north of the East Coldstream Deposit. Foundation is the operator of this program and owns 60% interest in the Property. Alto owns the remaining 40%.
Both drill holes were designed to test the down-plunge extension of the Sanders Zone, which is one of the four gold zones comprising the 1.5 kilometre strike-length of the East Coldstream Deposit. Drill hole C-11-70 tested the Sanders Zone at a vertical depth of 165 metres, piercing at approximately 65 metres below drill hole C-11-56. Hole C-11-71 was drilled to a 113-metre vertical depth to the east of C-11-56 and 50 metres vertically below the historical hole EC-89-1. It intersected a 32.75-metre wide mineralized zone averaging 1.03 g/t gold, including 3.61 g/t and 8.26 g/t gold over 8.15 m and 3.35 m, respectively. A third hole C-11-72 has also been completed at the Sanders Zone (News Release dated July 11, 2011) of which the results are still pending. This drill hole tested the Sanders Zone to a vertical depth of 170 metres, and has pierced roughly 50 metres below the hole C-11-71 and east of hole C-11-70.
Quality Assurance/Quality Control (QA/QC)
Foundation has implemented a quality control (QA/QC) program which includes the use of commercially produced standards and blanks. Samples of split NQ core are transported by Company personnel 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. For more details of QA/QC procedures, please refer to Foundations July 21, 2010 news release.
Ike Osmani, M.Sc., P.Geo., the President of Foundation and the Qualified Person for the Coldstream Project supervises the drill program and has reviewed and approved the technical content of this news release.
About the East Coldstream Deposit
The East Coldstream Deposit is hosted within mafic to intermediate metavolcanic rocks which have been intruded by dike/sill-like bodies of quartz-feldspar porphyries and gabbros. All these rock types have been variably altered (silica, hematite, carbonate, chlorite) and deformed by east- to east-northeast striking North Coldstream Shear/Deformation Zone. Gold is associated with 1 to 5 percent, fine-grained pyrite.
About the Coldstream Property
For more details regarding the Coldstream Property, please visit our website at www.foundationres.com
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold properties. 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 Coldstream project in the Shebandowan gold district. In the Chilcoten Plateau of British Columbia, the Company is exploring the Chilko project near the Newton gold deposit.
On Behalf of the Board,
Richard J. Mazur, P. Geo.,
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:
Matt Terriss,
Director of Corporate Affairs
Alto Ventures Ltd.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-638-3947
Fax: 604-689-3609
Email: terriss@altoventures.com
Website: www.altoventures.com
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· 8.26 g/t gold over 3.35 metres within 32.75 metre-wide zone averaging 1.03 g/t gold in hole C-11-71
· 2.27 g/t gold over 1.80 metres in drill hole C-11-70
Alto Ventures Ltd. (ATV: TSX-V) (“Alto”) and Foundation Resources Inc. (FDN: TSX-V) (“Foundation”) are pleased to announce the results of two drill holes from the Sanders Zone of the East Coldstream Gold Deposit (“Deposit”), Northwestern Ontario. These completed holes are part of a 6,000-metre drill program comprised of two main objectives: A) expanding the Deposit both laterally and down-plunge, and B) further exploring and developing the high-grade gold discovery (8.39 g/t gold over 11.0m – News Release dated March 22, 2011) as a result of a successful 2011 winter drilling program at Iris Lake. The Iris Lake discovery is located approximately 1500 metres north of the East Coldstream Deposit. Foundation is the operator of this program and owns 60% interest in the Property. Alto owns the remaining 40%.
Both drill holes were designed to test the down-plunge extension of the Sanders Zone, which is one of the four gold zones comprising the 1.5 kilometre strike-length of the East Coldstream Deposit. Drill hole C-11-70 tested the Sanders Zone at a vertical depth of 165 metres, piercing at approximately 65 metres below drill hole C-11-56. Hole C-11-71 was drilled to a 113-metre vertical depth to the east of C-11-56 and 50 metres vertically below the historical hole EC-89-1. It intersected a 32.75-metre wide mineralized zone averaging 1.03 g/t gold, including 3.61 g/t and 8.26 g/t gold over 8.15 m and 3.35 m, respectively. A third hole C-11-72 has also been completed at the Sanders Zone (News Release dated July 11, 2011) of which the results are still pending. This drill hole tested the Sanders Zone to a vertical depth of 170 metres, and has pierced roughly 50 metres below the hole C-11-71 and east of hole C-11-70.
Quality Assurance/Quality Control (QA/QC)
Foundation has implemented a quality control (QA/QC) program which includes the use of commercially produced standards and blanks. Samples of split NQ core are transported by Company personnel 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. For more details of QA/QC procedures, please refer to Foundations July 21, 2010 news release.
Ike Osmani, M.Sc., P.Geo., the President of Foundation and the Qualified Person for the Coldstream Project supervises the drill program and has reviewed and approved the technical content of this news release.
About the East Coldstream Deposit
The East Coldstream Deposit is hosted within mafic to intermediate metavolcanic rocks which have been intruded by dike/sill-like bodies of quartz-feldspar porphyries and gabbros. All these rock types have been variably altered (silica, hematite, carbonate, chlorite) and deformed by east- to east-northeast striking North Coldstream Shear/Deformation Zone. Gold is associated with 1 to 5 percent, fine-grained pyrite.
About the Coldstream Property
For more details regarding the Coldstream Property, please visit our website at www.foundationres.com
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold properties. 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 Coldstream project in the Shebandowan gold district. In the Chilcoten Plateau of British Columbia, the Company is exploring the Chilko project near the Newton gold deposit.
On Behalf of the Board,
Richard J. Mazur, P. Geo.,
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:
Matt Terriss,
Director of Corporate Affairs
Alto Ventures Ltd.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-638-3947
Fax: 604-689-3609
Email: terriss@altoventures.com
Website: www.altoventures.com
###
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Alto Ventures
Matt Terriss
604-638-3947
altoventures.com
Matt Terriss
604-638-3947
altoventures.com
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