Alto Ventures Ltd. (TSX VENTURE:ATV) has announced the assay results of two additional drill holes completed on the Coldstream property in Ontario.
HIGHLIGHTS
- Hole C-10-49 intersected two wide gold intercepts
- 45.65 metre-wide zone averaging 1.04 g/t gold including 4.08 g/t gold over 7.90 m and 2.44 g/t gold over 15.55 m
- 49.90 metre-wide zone averaging 1.01 g/t gold including 9.36 g/t gold over 2.1 m and 2.06 g/t gold over 11.0 m
These intercepts expanded the Main Zone to the east, west and at depth along the plunge line
- Hole C-10-43 intersected 17.15 metre-wide zone averaging 1.34 g/t gold including 3.79 g/t gold over 5.25 m and successfully tested the upper and eastern margins of the Main Zone
The holes reported are part of a recently completed 8,000 m program which was designed to test the East Coldstream gold deposit. The work is being carried out by Foundation Resources Inc (FDN: TSX-V) which is the Project Operator and is funding this exploration program to earn an interest in the Coldstream Property.
All intervals are represented as down-hole core lengths. True widths are estimated at 70-75 percent of core length.
The two holes were drilled into the Main Zone and intersected multiple gold intercepts of variable grades and core lengths. The purpose of hole C-10-49 was to test a large area of the Main Zone with no historical drilling at depth. The hole successfully intersected two significantly wide gold intercepts, approximately twenty seven metres apart, at a vertical depth of approximately 180 and 260 m (midpoints of intercepts) respectively. The two gold intercepts intersected by C-10-49 are: (a) an upper intercept from 208.80 m to 254.45 m averaging 1.04 g/t gold over 45.65 m core length, including 2.44 g/t gold over 15.55 m and a higher grade intercept of 4.08 g/t gold over 7.90 m, and (b) a lower gold intercept from 281.30 m to 331.20 m averaging 1.01 g/t gold over 49.90 m, including 9.36 g/t gold over 2.1 m and 2.06 g/t gold over 11.00 m. As a result, C-10-49 expands the Main Zone to the east and west from its pierce point, and more importantly at depth along the interpreted plunge line. Furthermore, drill holes C-10-45, C-10-47 and C-10-48 tested the upper and eastern margins of this unproven area with successful results (see news release October 28, 2010 and November 09, 2010). The higher grade intervals suggest that there is the possibility of discovering additional high grade intercepts while infilling the large still untested area in the pocket created by C-10-45, 47, 48 and 49. These are encouraging results as they increase the potential for hosting additional gold resources in the Main Zone.
Both the Main and East zones were also drilled during the 2010 winter drill program and results from drilling in these zones were previously reported on March 29, April 6, and 21, 2010. These two zones along with the North and Sanders zones together comprise the 1.5 km long, northeast-striking East Coldstream Deposit. All four zones were tested by the current program (25 holes) and results were reported on July 21, September 8 and 22, and October 5and 28 and November 9, 2010. All holes drilled to date contain gold and most have intersected wide mineralized zones with multiple intersections of high-grade gold mineralization in variable core lengths. Gold is associated with disseminated pyrite and occurs within strongly sheared and hydrothermally altered (silica, albite, sericite, iron carbonate, magnetite and hematite) mafic to intermediate metavolcanic and intrusive quartz-feldspar porphyry rocks.
Additional results from the remaining drill holes completed will be released as they become available.
Quality Assurance and Quality Control
Drill core processing included descriptive logging and selection of samples for geochemical analyses. The NQ2-size core was cut in two halves using a stationary rock saw at the field camp in Kashabowie, Ontario. One-half of the core was delivered to the sample preparation lab of ALS Chemex Laboratory in Thunder Bay where they were crushed and a 1000-gram pulp was prepared. The pulp was then shipped to ALS Chemex Laboratory in North Vancouver, B.C. for analyses. The gold assaying method uses a standard Fire Assay with ICP-AES technique on a 30-gram pulp material taken from a 1000g split from the submitted sample. Any sample that exceeded upper detection limit of 10 ppm or grams was re-analyzed by the same Fire Assay method but with gravimetric finish. Commercially prepared standards and blanks were inserted by Foundation every 20 samples to insure precision of the results. ALS Chemex inserted its own standards, blanks and carried out duplicate analyses on sample pulps to ensure internal lab quality control. For regular Fire Assay technique with an ICP-AES finish, the lab inserted 1 blank at the beginning, 2 standards at random intervals, and 3 duplicates were analyzed at the end of the batch of every 84 samples. For the Fire Assay method with gravimetric finish, inserting 1 blank, 2 standards, and 1 duplicate followed the same procedure on a batch of every 20 samples.
Ike Osmani. P.Geo., is the Qualified Person for Foundation Resources Inc who has supervised the program.
About the Coldstream Project
The Coldstream Property includes 5,394 hectares of staked and patented mining claims along the Trans Canada Highway 115 km west of the City of Thunder Bay, Ontario. The area is road accessible and has excellent infrastructure with a major power line and CN rail line passing just north of the property. Skilled labour is readily available locally.
The property is under an Option Agreement with Foundation Resources Inc. Foundation is the operator and is funding the current exploration program to earn an initial 60% interest. Foundation then has the option to earn an addition 10%.
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the Qualified Person who has reviewed and approved this news release.
Source: Alto Ventures Ltd.