Posted in | Diamond | Discoveries

Alto Ventures Announces Completion of Airborne Magnetic Survey on GEFA Diamond Property

Alto Ventures Ltd. is pleased to announce completion of a high-resolution airborne magnetic survey flown at 50 m line spacing over the GEFA Diamond Property ("GEFA"), northern Saskatchewan.

Preliminary interpretation has identified at least 16 magnetic targets clustered in two main areas on the property; one on the east side and the other cluster near the northwest corner of the property. These targets are associated with down-ice trends of kimberlite indicator mineral (KIM) dispersion trains, including the dispersion train in the eastern half of the claims that features diamond indicator minerals (DIMs) eclogite and chromite.

GEFA is located adjacent to North Arrow Minerals Inc.'s prolific Pikoo diamond discovery in Northern Saskatchewan which has reported a sample grade of 1.34 carats per tonne of +0.85 mm diamonds from 209.7 kgs of drill core (see North Arrow's news release dated November 5, 2013).

Alto's CEO Rick Mazur stated, "The detection of priority targets up-ice from some of Alto's KIM dispersion trains is very encouraging. Follow-up work will include further till sampling and ground geophysical surveys this summer to get to the drill stage."

Alto 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). To date Alto has paid $25,000 in cash and spent approximately $400,000 on exploration.

Alto's kimberlite and diamond consultant Dr. Harrison Cookenboo, P. Geo, has reviewed field procedures, technical data, and conclusions described in this news release. He is a qualified person under the provisions of National Instrument 43-101 and approves of technical data and conclusions in this news release.

Figure 1. Selected Preliminary airborne magnetic targets overlain on KIM results from Alto's 2014 till sampling program is available at the following address: http://media3.marketwire.com/docs/150226_ATV_Fig-1.pdf

Source: http://www.altoventures.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit