Alto Acquires Gold Property Near Coldsteam Project, Ontario

 

VANCOUVER - Alto Ventures Ltd. reported the acquisition of a new gold property near its Coldstream Gold project in north western Ontario. The property is located in the Shebandowan greenstone belt, approximately 100 km west of Thunder Bay, and lies adjacent to the Company’s Coldstream Gold Project which will be explored later this summer with its Joint Venture partner Foundation Resources Ltd.

Previous work on the newly acquired property resulted in discovery of several gold occurrences, including two drill holes with gold intercepts of 0.74 g/t gold across 11.3 m in one of the holes and two zones containing 1.27 g/t gold across 5.0 m and 1.28 g/t gold across 5.2 m in the other hole. These holes are spaced 400 m apart and mineralization occurs in altered and pyrite bearing mafic volcanic rocks which contain quartz and carbonate veins. The gold mineralized zones lie along an IP anomaly and no follow-up work is reported along this anomaly.

Previous work on Alto’s adjacent Coldstream property included mining of the North Coldstream deposit in the 1960Õs with reported production of 102 million pounds of copper, 22,000 ounces of gold and 440,000 ounces of silver as well as the discovery of the East Coldstream gold deposit with historical resources of 5.1 million tonnes averaging 1.4 g/t gold. Numerous other gold occurrences are reported on the Coldstream Property.

The company’s address is Suite 910 - 475 Howe Street, Vancouver, BC V6C 2B3, 604-689-2599, fax: 604-689-3609, email: [email protected].