Alto Ventures Ltd. is pleased to announce the completion of a till sampling program on the GEFA and Fisher diamond claims totaling 16,650 hectares adjacent to the North Arrow Minerals Pikoo diamond discovery in northern Saskatchewan.
A total of 325 samples of glacial till were collected to define kimberlite indicator mineral trains in the down-ice direction of potential kimberlite targets identified on the property. All of the samples collected in 2014 have been delivered to Saskatchewan Research Council in Saskatoon for processing and identification of minerals that are indicative of diamond bearing kimberlites. Processing is expected to continue through October and November and results from the program will be used to evaluate potential kimberlite targets for follow-up exploration.
Kimberlite indicator minerals from glacial tills have been used successfully in locating diamond-bearing kimberlites across Canada. In the Pikoo area, the KIMs have been particularly useful in defining drill targets that resulted in North Arrow's discovery of kimberlites in 9 of 10 holes drilled in 2013 including five holes that contain diamonds. Further exploration by North Arrow has identified KIM trains that are separate and discrete from the North and South Pikoo KIM trains where diamonds were discovered in 2013. The newly defined KIM trains are located in an area between the Pikoo diamond discovery and Alto's GEFA property (see North Arrow website at www.northarrowminerals.com).
The Company has also completed a short prospecting program for gold and base metals on several of the Fisher claims. Results from the prospecting samples are pending.
Alto Ventures is earning a 60% interest in the GEFA claims by making staged payments to the vendors totaling $60,000 over two years and completing $750,000 in exploration work on the property over 30 months (see Alto Ventures news release dated January 27, 2014). Alto is earning a 100% interest in the Fisher claims by issuing to the vendor 25,000 shares of Alto and making cash payments totaling $18,000 over two years (see Alto Ventures news release dated January 22, 2014).
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.
Source: http://www.altoventures.com/