Alto Ventures Ltd.: Exploration Work Commences on the Coldstream Property, Ontario
Alto Ventures Ltd. announce the start of the 2010 summer exploration program on the Coldstream Property in Ontario. The program will include a minimum of 8,000 m of diamond drilling as well as surface work consisting of line cutting, ground geophysical (IP and Resistivity) surveying, geological mapping, prospecting and sampling. The line cutting has already started and drilling will overlap with the surface program. The program will be completed by Foundation Resources Inc who is the Project Operator and is funding this exploration program to earn an interest in the project.
The objectives of the drilling program are to expand the size of the historical East Coldstream gold deposit and advance the deposit towards an NI43-101 compliant resource estimate. The recently completed winter drilling has returned some of the best grades and widths drilled on the Coldstream property including 4.88 g/t gold over 27.3 m and 111.3 m averaging 1.12 g/t gold, and has confirmed continuity of gold mineralization between widely spaced historical drill holes (see Alto news release dated April 20, 2010). The planned drilling program will also test for potential strike extensions of the Moss Lake gold deposit onto the Coldstream property as well as test other targets in the Span Lake area where previous drilling by Inco in the 1980′s intersected wide zones of gold mineralization. NI43-101 compliant inferred resource estimates of 56.1 million tons grading at 0.027 ounces per ton for 1.51 million contained ounces are reported from the Moss Lake gold deposit (see Moss Lake Mines Ltd website).
The surface work will focus on some of the high priority gold targets identified during the 2009 exploration program including high grades of 30.7 g/t gold across a 1.15 m channel sample from the Goldie Zone and 15.8 g/t gold in a grab sample at the Iris Zone. The objectives of the surface work are to generate drill targets at the Goldie and Iris zones and prioritize for drilling the numerous targets at Span Lake where assays of up to 31.8 g/t gold over a 0.75 m channel sample were obtained in 2009. The geological mapping and ground geophysical surveys will also investigate for possible relationships between the East Coldstream gold deposit and the Goldie and Iris zones.
