Alto Grab Samples 37.2 g/t Gold on Its 100% Owned Oxford Lake Property, Manitoba
August 15 2013 - 8:00AM
Marketwired Canada
Alto Ventures Ltd. (TSX VENTURE:ATV) is pleased to announce gold values of up to
37.2 g/t from grab samples collected during the reconnaissance sampling program
completed in June, 2013 on its Oxford Lake property in Manitoba. The Oxford Lake
property hosts the historical Rusty Gold deposit and several other gold
occurrences. The property covers approximately 35,300 ha and is 100% owned by
the Company.
Alto has completed a reconnaissance style bedrock sampling program in June, 2013
focusing mainly on shoreline exposures in the Hyers Island area. The objectives
were to locate some of the historical mineral occurrences as well as determine
the geological setting of gold and base metals mineralization. Numerous areas of
disseminated stringer sulphide mineralization were examined and sampled. Most of
the sulphide areas are associated with zones of shearing and extensive carbonate
alteration. Highly anomalous gold, with values up to 37.2 g/t gold in grab
samples, and base metals occur along several of these shear zones (see Table 1).
Interestingly, anomalous amounts of tungsten (chemical element symbol "W") occur
with some of the high gold grade samples. Anomalous tungsten values were also
obtained in a surface grab sample from Alto's recently acquired Mineral
Exploration License 1006A in Cat Eye Bay (see Alto's news release dated June 18,
2013).
Alto considers tungsten to be a valuable pathfinder element in the search for
gold mineralization and is encouraged by recent announcements from Mega Precious
Metals Inc reporting significant drill intercepts of tungsten associated with
the Monument Bay gold deposit. The Company considers the geological and
structural settings for parts of the Oxford Lake property to be similar to the
geology at Monument Bay and this observation indicates that there may also be
some geochemical similarities between the two areas.
"Our summer program has confirmed that the gold is associated with zones of
extensive shearing and alteration in the Hyers Island area," commented Rick
Mazur, CEO and Director. "The recognition of tungsten as a pathfinder mineral is
also very significant as it adds another component to support Alto's assertion
that the Oxford Lake property is part of a large regional scale structural
corridor that also includes the Monument Bay gold deposit, where tungsten
mineralization is significant."
Table 1 List of Gold and Base Metals Anomalies in Bedrock Grab Samples
----------------------------------------------------------------------------
Au
Check
Sample Au Ag Cu Zn W Assay
Number Easting Northing (g/t) (g/t) % (%) (ppm) (g/t)
----------------------------------------------------------------------------
689955 307573 6072848 12.2 4 0.48 14.0 1417 15.04
----------------------------------------------------------------------------
689956 307573 6072858 37.2 2 0.06 2.1 202 12.16
----------------------------------------------------------------------------
689958 692301 6072668 0.064 2.19
----------------------------------------------------------------------------
689960 692314 6072663 0.47 0.03
----------------------------------------------------------------------------
689970 308636 6073999 0.13 1.31
----------------------------------------------------------------------------
689974 690595 6072078 1.67 1.35
----------------------------------------------------------------------------
689981 691452 6073310 0.14
----------------------------------------------------------------------------
689987 309398 6074135 0.12
----------------------------------------------------------------------------
689999 307641 6074223 0.14
----------------------------------------------------------------------------
744655 692368 6073770 0.21 0.01
----------------------------------------------------------------------------
1137816 692319 6072673 1.14 8 0.04
----------------------------------------------------------------------------
Cat Eye Bay Area
----------------------------------------------------------------------------
1137802 330526 6073797 4.01 24 1.12 3.94 343
----------------------------------------------------------------------------
Resignation of Director
The Company wishes to announce that Mr. Larry Okada has resigned from its Board
of Directors effective May 1, 2013. We wish to thank Larry for his dedication
and service to the Company and wish him the very best.
Change of Address
Alto wishes to announce a change of address. All phone, fax and email addresses
remain the same. Our new address is:
Alto Ventures Ltd.
Suite 1158, 409 Granville Street
Vancouver, B.C.
V6C 1T2
About the Rusty Gold Deposit
The Rusty Gold Deposit hosts a Historical Resource(i) of 800,000 tonnes at an
average grade of 6 g/t and contains approximately 154,000 of gold. The
mineralization was drilled to a depth of 600 metres by Noranda and is open along
strike and to depth. The resource was estimated in 1990 and a Qualified Person
(QP), as defined by NI43-101, has not done sufficient work to classify this
historical estimate as current mineral resources. Alto is not treating the
historical estimate as current mineral resources, as defined by NI43-101, and
thus the historical estimate should not be relied upon. The Rusty Gold Deposit
is associated with a banded iron formation (BIF) and is one of several
significant gold occurrences associated with a regional trend of aeromagnetic
"High" anomalies. This aeromagnetic trend, which extends for 30 km in the
northern half of Alto's Oxford Lake property, is interpreted to be the
geophysical signature of the BIF that hosts gold mineralization.
About the Oxford Lake Project
The 35,296 ha Oxford Lake gold property is located in central Manitoba,
approximately 150 km southeast of Thompson. Geologically, the property lies in
the Oxford Lake-Knee Lake greenstone belt near the west end of the Superior
Province of the Canadian Shield. The Oxford Lake property lies along a major
regional structural corridor that hosts the pre-development Monument Bay Gold
Deposit near the eastern end of this corridor. The Monument Bay Deposit hosts
reported resources of 2.9 million ounces of gold in the Indicated and Measured
categories at an average grade of 1.3 g/t gold plus 0.7 million ounces in the
Inferred category (see Mega Precious Metals Inc website) and is located
approximately 150 km east of the Oxford Lake project. This corridor is
relatively under-explored and could be an early stage analogue to the large
gold-producing Destor-Porcupine or Larder-Cadillac corridors in Ontario and
Quebec.
Qualified Person Statement
This news release has been reviewed and approved for technical content by Mike
Koziol, P. Geo, a qualified person under the provisions of National Instrument
43-101.
Quality Assurance/ Quality Control
Gold assays were performed at Accurassay Laboratories in Thunder Bay, Ontario.
The gold assaying method uses a standard Fire Assay with AA finish technique on
a 30 gram sub-sample taken from a 500 gram split from the submitted sample. The
laboratory ran internal check assays every 10 samples to ensure lab quality
control. The samples were also tested for 30 other elements using ICP
multi-element scan methods. Check assays were performed on selected samples. For
the check assays, separate pulps were prepared from the rejects and the new
pulps were assayed using Fire Assay with Gravimetric finish and Pulp Metallics
for samples with greater than 10 g/t gold.
About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of
highly prospective Canadian gold and base metals properties. The Company is
active in Quebec in the Abitibi greenstone belt on the Destiny gold property and
in Ontario, exploring in the Beardmore-Geraldton gold belt. In Manitoba, the
Company is focused on the gold and base metals potential of the highly
prospective but relatively under-explored Oxford Lake property
For more details regarding the Company's projects, please visit our website at
www.altoventures.com.
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 PLEASE CONTACT:
Alto Ventures Ltd.
Mike Koziol
President and Director
705-522-6372
705-522-8856 (FAX)
koziol@altoventures.com
Alto Ventures Ltd.
Rick Mazur
CEO and Director
604-638-3943
604-689-3609 (FAX)
info@altoventures.com
www.altoventures.com
Alto Ventures (TSXV:ATV)
Historical Stock Chart
From Apr 2024 to May 2024
Alto Ventures (TSXV:ATV)
Historical Stock Chart
From May 2023 to May 2024
