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datasets.iitb.crawledDocs.yn_08Oct08_file_447 Maven / Gradle / Ivy

    Welcome, Guest [ , ] - 13598642 Press Release Source: Alto Ventures Ltd. Alto Channel Samples up to 34.1 g/t (0.99 oz/ton) Gold at Greenoaks, Beardmore-Geraldton Gold Belt, Ontario Tuesday September 30, 4:00 pm ET VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2008) - Alto Ventures Ltd. (TSX VENTURE: - ) has received results from surface channel sampling completed on the Greenoaks Project in the Beardmore-Geraldton Gold Belt. Gold values up to 34.16 grams per tonne (g/t) across 1.0 metres (m) were obtained from channel sampling along a northwest trending structure consisting of shears and fractures. This structure has been traced by mechanical stripping for 500 m along strike (see Alto news release dated July 24, 2008) and the current program sampled 180 m of strike length to the northwest of the former Greenoaks Mine. In addition, channel sampling across a newly exposed vein 50 m southeast of the Greenoaks Mine returned up to 3.74 g/t gold across 0.9 m. The former Greenoaks Mine is reported to have produced 1,171 tons of vein material at an average grade of 6.1 g/t gold and an additional 53 tons averaging 17.1 g/t gold. The table below lists the channel samples assaying greater than 1 g/t gold. Sample Number Width (Metres) Au (g/t) NW of Greenoaks Mine 744153 0.5 1.01 744154 1.0 1.26 744164 0.5 5.56 744167 0.5 1.26 744168 0.5 4.87 744169 1.0 9.01 744170 1.0 34.16 744176 0.5 1.58 744183 1.0 1.59 744184 1.0 1.87 744186 1.0 1.69 744196 0.5 2.17 SE of Greenoaks Mine 0.9 3.74 0.5 1.8 0.6 1.57 Gold mineralization in the exposed areas of the structure is associated with semi-continuous quartz veins up to 50 cm wide that contain variable amounts of pyrite and chalcopyrite, locally as high as 20%. Gold is also associated with quartz-sulphide filled fractures that form an alteration envelope on either side of the larger veins. The gold-bearing veins have been traced for 500 m along strike where they disappear under overburden cover to the northwest and southeast of the current work area. The Greenoaks property lies 43 km northeast of the Town of Beardmore and is well situated adjoining the Hercules property operated by Kodiak Exploration to the east and the Jacobus property operated by Sage Gold to the north. Alto is encouraged by the results obtained thus far from its five projects in the Beardmore-Geraldton Gold Belt and exploration work is ongoing. A diamond drilling program is scheduled to start in mid October to test targets on the Mud Lake and the Three Towers properties (see Alto news release dated September 4, 2008). A plan map showing the distribution of the gold-bearing veins and channel samples at Greenoaks is posted on the Company's website. For more details regarding the Company's Beardmore area projects, please visit the website at . Mike Koziol, P. Geo., P. Eng. and Alto's President and CEO is the Qualified Person who has reviewed and approved this news release. Quality Assurance / Quality Control Channel samples are 5 cm wide and cut perpendicular to the strike of the target being sampled (vein, shear zone or sulphide horizon). The channels are cut continuously across the width of the sample with a motorized saw using a diamond saw blade to a depth of 10 cm and then the cut rock is chipped out with hammer and chisel. The samples are described by Alto geologists noting rocks types and mineralization and then bagged for delivery to the assay laboratory for quantitative analyses for gold and selected elements. The samples were then delivered by Alto staff to Accurassay Laboratories in Thunder Bay. Each of the samples reported here was assayed using pulp metallic assaying method for gold. Pulp metallic analyses involves the crushing of the entire sample to 90% -8 mesh and using a Jones Riffler to split the sample to a 1 kg sub-sample. The entire sub-sample is pulverized to approximately 90% -150 mesh and subsequently sieved through a 150-mesh screen. The entire +150 metallics portion is assayed along with two duplicate cuts of the -150 pulp portion. Results are reported as a calculated weighted average of gold in the entire sample. About Alto Ventures Ltd. Alto Ventures Ltd. is a gold exploration and development company with a portfolio of highly prospective properties in the Canadian Shield. The Company is active in Quebec where it is focussed on the Despinassy project in the Abitibi Greenstone Belt and in Ontario in the Beardmore and Shebandowan gold districts. Alto's Management and Board of Directors have a long and successful track record of creating shareholder value through systematic exploration, acquisitions and discovery. ON BEHALF OF THE BOARD, Mike Koziol, P. Geo., P. Eng., President & CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Contact: Mark Prosser Alto Ventures Ltd. Investor Relations Manager (604) 638-3947 (604) 689-3609 (FAX) Email: Website: Source: Alto Ventures Ltd. Copyright © 2008 Yahoo! Inc. All rights reserved. - Copyright © 2008 . CCNMatthews All rights reserved. All news releases provided by CCNMatthews are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.