Oct. 5, 2009 (TheNewswire.ca) --
ALTO VENTURES LTD.
910 - 475 Howe Street
Vancouver, B.C. V6C 2B3
Tel: 604.689.2599
Fax: 604.689.3609
www.altoventures.com
info@altoventures.com
NEWS RELEASE
SUMMER EXPLORATION PROGRAM COMPLETED ON COLDSTREAM GOLD PROJECT, ONTARIO
Vancouver, B.C., October 4, 2009. Alto Ventures Ltd. (TSXV:ATV) (ATV: TSX-V) is pleased to announce that the 2009 summer exploration program has been completed on the Coldstream gold project located 115 km west of the City of Thunder Bay, Ontario. Foundation Resources Inc (TSXV:FDN) (FDN: TXS-V) is earning an interest in the project and is the operator.
The program consisted of geological mapping, trenching and rock sampling. The main objectives of the program were to gain a better understanding of the geology, alteration, and structural controls on mineralization to better define existing gold zones and generate new high quality drill targets. Initial work focused on the Span Lake, East Coldstream, and Goldie Lake areas.
Previous systematic work in the Span Lake area was carried out by Inco in the late 1980's when 9 gold zones were identified and limited drilling by Inco returned results including 3.01 g/t Au over 7.45 m and 3.67 g/t Au over 4.63 m. Current work at Span Lake focused on confirming results from Inco's channel sampling and geological mapping was completed to delineate controls on gold mineralization in the area. The Span Lake area lies adjacent to the Moss Lake gold deposit to the southwest. The Moss Lake gold deposit is reported to contain National Instrument 43-101 compliant inferred resource of 1.5 million ounces of gold.
At the East Coldstream area, work focused on understanding controls on mineralization and generating drill targets to confirm and expand the historical resource. The East Coldstream gold deposit 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. Wide zones of gold mineralization were drilled by Alto in 2006 including 68 m averaging 1.21 g/t gold.
Trenching, geological mapping and channel sampling work was completed at Goldie Lake where historic gold occurrences were reported to contain from 2.06 to 5.48 g/t gold.
