Jun 29 2017
Alto Ventures Ltd. is pleased to announce the start of the 2017 summer field program on its 100% owned Oxford Lake gold project in mining-friendly Manitoba.
Alto is conducting a program of geological mapping, prospecting and soil/rock sampling along a 30 km trend of magnetic highs that are associated with banded iron formation ("BIF") units. The program is designed to generate new targets and refine existing targets for a diamond drill campaign to be carried out during the winter of 2018.
Rick Mazur, CEO of Alto commented, "Oxford Lake is a frontier gold and base metal district that has been overlooked and underexplored. Alto's summer program will integrate historical exploration with new technologies and exploration models developed over the last 25 years."
Previous drilling discovered the Rusty Gold Deposit with a Historical Resource* of 800,000 tonnes averaging 6 g/t gold, containing approximately 154,000 ounces of gold and the Blue Jay gold zone two kilometres to the east (Figure 1). Noranda Exploration last conducted work on the property in 1992. Alto conducted a limited drill program in 2012 which confirmed multiple BIF zones including 2.7 m averaging 6.7 g/t gold including 22.5 g/t gold over 0.5 m and a second zone 6.8 m averaging 5.7 g/t gold including 11.7 g/t gold over 1.6 m and 16.5 g/t gold over 1.0 m at the Blue Jay Zone.
The Oxford Lake property covers over 35,000 ha of ground prospective for BIF associated gold deposits, syn-orogenic gold deposits associated with crustal scale faults and clastic meta-sedimentary basins, shear hosted gold deposits and volcanogenic massive sulphide copper-zinc-gold-silver deposits.
Alto's President, Mike Koziol, P. Geo. is a qualified person under the provisions of National Instrument 43-101 and approves the technical data and conclusions in this news release.
* The historical resources were estimated prior to NI43-101 standards being enacted and a Qualified Person (QP), as defined by NI43-101, has not done sufficient work to classify these historical estimates as current mineral resources. Alto is not treating the historical estimate as current mineral resources, as defined by NI43-101, and thus the historical estimates should not be relied upon.
Source: http://www.altoventures.com/