Alto Identifies District Scale Gold and Base Metal Potential at Oxford Lake, Manitoba; Plans 5,000 m of Drilling
2011年11月16日 - 9:00PM
Marketwired
Alto Ventures Ltd. (TSX VENTURE:ATV) -
-- Property expanded to over 30,000 ha with high potential for both banded
iron formation gold deposits and massive sulphide copper, zinc, silver,
gold deposits
-- Numerous targets for gold and base metals delineated for 30 km upon
completion of 1,700 line kilometres helicopter geophysical survey this
past summer
-- 5,000 m of diamond drilling planned to start in January, 2012
Alto Ventures Ltd. is pleased to announce its plans for 2012 on
the 100% owned Oxford Lake property in central Manitoba. The
Company expanded the size of the Oxford Lake property in mid-2011
from 2,870 hectares to over 30,000 hectares with the acquisition of
two Mineral Exploration Licences ("MEL"). Upon acquisition of the
MEL's, a Geotech Ltd. VTEM and magnetometer survey covering 1,700
line kilometres delineated numerous targets favourable for gold
deposits associated with banded iron formations as well as targets
that exhibit high potential for massive sulphide copper, zinc, gold
and silver deposits
(http://www.altoventures.com/i/pdf/AirborneSurveyPotential.pdf).
The Company is preparing a 5,000 m diamond drilling program to
start in January, 2012.
Gold mineralization in the northern half of the Oxford Lake
property is associated with a banded iron formation ("BIF"). Alto's
geophysical surveys delineated the main gold target on the
property, a trend of aeromagnetic "High" anomalies 30 km long. The
historical Rusty Gold Zone (Historical Resource of 800,000 tonnes
averaging 6 g/t gold, see "About the Rusty Gold Zone Deposit"
below) is one of several significant gold occurrences associated
with this magnetic trend. Other occurrences along the trend include
the East Rusty Zone and the Blue Jay area. Historical drill
intercepts at the East Rusty Zone include 4.6 g/t gold over 3.7 m.
The Blue Jay area is located two kilometres east of the Rusty Gold
Zone and historical drilling at Blue Jay intersected up to 10 g/t
gold over 2.0 m. Gold in both the East Rusty Zone and Blue Jay area
is associated with the BIF delineated by Alto's aeromagnetic
survey. Mineralization at the Rusty Gold Zone, East Rusty Zone and
Blue Jay area remains open along strike and to depth. The target
model for this style of mineralization is the Musselwhite Mine in
Ontario, located in the west Superior geological province of the
Canadian Shield. The Musselwhite Mine has reported past production
and reserves of over 5.7 million ounces of gold.
Geological and geophysical targets favourable for massive
sulphide deposits rich in copper, zinc, silver and gold have been
identified in the southern half of the property. These targets,
which also extend for over 30 km on strike, have been tested in the
past by only a few drill holes. One of these holes (OX3-1-86)
drilled in 1986 intersected 33 m of BIF underlain by 14 m of
massive sulphide with showings of zinc within the massive
sulphides. The closest drill holes on either side of OX3-1-86 are
three kilometres to the west and ten kilometres to the east. Some
of the best geophysical targets lie within the large gaps not
drilled previously. The target model in this part of the property
is the past producing Geco Mine in the Western Superior of
Northwestern Ontario. The Geco Mine has reported past production of
58 million tonnes averaging 1.9% copper, 3.5% zinc and 50 g/t
silver.
Alto is planning a 5,000 m diamond drilling program scheduled to
start at the end of January 2012. This Phase One program will test
some of the high potential BIF gold targets in the north half of
the property, as well as targets considered to have high potential
for hosting massive sulphide base metal deposits.
Mike Koziol, P. Geo., P.Eng., Alto's President and Director is
the Qualified Person who has reviewed and approved the content of
this news release.
About the Rusty Gold Zone Deposit
The Rusty Gold Zone hosts a Historical Resource of 800,000
tonnes at an average grade of 6 g/t and contains approximately
154,000 of gold. It is open along strike and to depth and is
consistent in width (average 4.5 metres). 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 Zone is associated with a 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 30,000 ha Oxford Lake gold-base metals property is located
in central Manitoba, approximately 150 km southeast of Thompson.
Geologically, the property lies in the Oxford Lake-Knee Lake
greenstone belt at the west side of the Superior Province of the
Canadian Shield. The Western Superior has proven potential for
hosting large gold deposits, including the Musselwhite Mine with
past production and reserves of over 5.7 million ounces of gold
hosted in a BIF. The Western Superior also has proven potential for
hosting large massive sulphide base metals deposits, including the
past producing Geco Mine with reported production of 58 million
tonnes averaging 1.9% copper, 3.5% zinc and 50 g/t silver.
The property has been explored intermittently since the early
1900s with the most concentrated efforts by Noranda Exploration in
the mid 1980s to early 1990s. There has been no significant
activity on the property since the Noranda work until recently when
Alto increased the size of its land holdings to over 30,000
hectares and completed 1,700 line kilometres of helicopter
supported VTEM electromagnetic and magnetometer surveying.
Potential for significant gold mineralization has been
demonstrated by the historical discovery of the Rusty Gold Zone
hosted within a BIF. The BIF trend hosting the Rusty Gold Zone has
been traced in the northern half of the property by the airborne
geophysics for 30 km along strike. There are several other gold
occurrences along this BIF trend that have not been drilled in
detail.
Geology favourable for hosting massive sulphide base metals
mineralization underlies the southern half of the property. This
style of mineralization is characteristically associated with
electromagnetic conductors that can be detected by airborne
geophysics such as the VTEM survey recently completed by Alto this
past summer. Alto's survey delineated numerous electromagnetic
conductors, many of which are associated with geology favourable
for hosting massive sulphide base metals deposits, such as altered
felsic volcanic rocks. Historical drilling on the property has been
limited to only a few holes and no drilling has been reported on
Alto's first priority targets.
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.
Contacts: Alto Ventures Ltd. Mike Koziol President and Director
705-522-6372 705-522-8856 (FAX)koziol@altoventures.com Alto
Ventures Ltd. Matt Terriss Director, Corporate Affairs 604-638-3947
604-689-3609 (FAX)info@altoventures.comwww.altoventures.com
Alto Ventures (TSXV:ATV)
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