Alto Drills 11 Sonic Holes at Destiny
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2019) - Alto Ventures Ltd. (TSXV: ATV) is pleased to announce completion of the 11 sonic drill hole orientation program on its Destiny project in Quebec. The program is in part a follow-up to the compilation work done by Alto this past winter (see Alto news release dated February 27, 2019) and tests a number of analytical methods to determine if gold mineralization can be discovered using glacial dispersion overburden sampling techniques. The sonic holes were drilled down-ice from the currently known mineralized zones as well as down-ice from several of the new targets identified during the extensive compilation of data earlier this year (see Figure 1).
In addition to the overburden sampling, each of the holes was drilled into bedrock to determine the bedrock geology.
Because this orientation program is mainly sampling glacial tills, a number of analytical methods are being tested to determine which is most suitable as a potential screening tool for gold mineralization. Therefore, results from the holes are not anticipated until the third quarter of this year.
Destiny Gold Project, Quebec
The Destiny project hosts the DAC Gold Deposit*, one of several mineralized zones along a six km segment of the Despinassy shear which splays from the regionally extensive Chicobi Fault in the Abitibi subprovince. The DAC Deposit has Indicated Mineral Resources of 10.8 million tonnes at an average grade of 1.05 g/t gold and Inferred Mineral Resources of approximately 8.3 million tonnes at an average grade of 0.92 g/t gold using a 0.5 g/t gold cut-off grade. The estimated contained ounces in the Indicated category are 364,000 plus 247,000 ounces in the Inferred classification. At a cut-off grade of 1.0 g/t gold from approximately 15 metres below surface to a depth of 400 metres, the DAC deposit was estimated to include 3,858,800 tonnes at an average grade of 1.71 gpt Au Indicated (212,310 contained ounces gold) and 2,521,400 tonnes at an average grade of 1.53 gpt Au Inferred (124,390 contained ounces gold). The gold mineralization is open to depth and along strike.
*The Resource Estimates for the DAC Deposit were calculated consistent with guidelines set out in National Instrument 43-101 and filed on Sedar on March 7, 2011. Mineral Resources are not Mineral Reserves and by definition do not demonstrate economic viability.
Figure 1 Location of sonic drill holes and gold targets
To view an enhanced version of Figure 1, please visit:
Alto's President, Mike Koziol, P. Geo. is a qualified person under the provisions of National Instrument 43-101 and approves the technical data and conclusions in this news release.
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 the Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario. 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.,
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:
President and Director
ALTO VENTURES LTD.
Unit 7 - 1351C Kelly Lake Rd
Sudbury, ON., P3E 5P5
CEO and Director
ALTO VENTURES LTD.
Suite 615-800 W. Pender Street
Vancouver, BC, V6C 2V6
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46459