Alto Ventures Ltd.: Drilling Intersects 22.7 Grams Per Tonne Gold on Destiny Gold Project, Val d'Or Area, Quebec
14 Mai 2012 - 3:00PM
Marketwired Canada
Alto Ventures Ltd. (TSX VENTURE:ATV) and Next Gen Metals Inc. (TSX VENTURE:N) -
-- 22.7 g/t gold over 1.05 m intersected in an under-explored one-kilometre
section of the Despinassy Shear Zone
-- Gold mineralization and favourable alteration and structure confirmed by
widely spaced drilling between the DAC Deposit and the Darla Zone
-- As of January 2011, the DAC Deposit contains an Indicated Resource of
364,000 ounces of gold and an Inferred Resources of 247,000 ounces of
gold at a cut-off grade of 0.5 g/t Au
Alto Ventures Ltd. ("Alto") and Next Gen Metals Inc. ("Next Gen") are pleased to
announce assay results from the remaining holes of the 2012 drill program on the
Destiny Gold project located near Val-d'Or, Quebec.
Results
Drill holes DES12-150 to DES12-155 are six of the 12 drill holes that tested for
the presence of gold mineralization at shallower depth along strike between the
DAC Deposit to the west and the Darla Zone to the east (see Figure 1 on Alto's
website www.altoventures.com), thereby expanding the mineralized zone down-dip
and along the strike. The results from these six drill holes together with the
results from the six holes announced on April 10, 2012 confirm the presence of
higher-grade gold values between the DAC Deposit and the Darla Zone (see Figure
1 on Alto's website www.altoventures.com). These higher grade values occur
within broad lower-grade mineralization envelopes with strong alteration and
shearing. Gold mineralization has been intersected over four kilometres along
the Despinassy Shear Zone.
Drill hole DES12-154 was drilled on Section 317960E and intersected 22.7 g/t
gold over 1.05m from 328.2 m to 329.25 m. Higher-grade intercepts in DES12-153
include 6.6 g/t gold over 1.0 m from 116.25 m to 117.25 m on Section 317860E,
located 100 m west of DES12-154. Drill hole DES12-155 intersected 3.39 g/t gold
over 1.0 m from 37.65 m to 38.65 m. This hole is located on Section 318460E and
lies 200 m east of hole DES12-147 which intersected 78 g/t gold over 1.0 m (see
April 10, 2012 news release).
In addition to the results highlighted above, each of the holes intersected
sheared and altered rocks with anomalous gold values in several zones (Table 1).
The holes were drilled on nominal 100 m spacing to test the approximately one
kilometre distance between the DAC Deposit and the Darla Zone. Each of the holes
was drilled on an azimuth of 180 degrees.
The results from the 12 widely spaced holes are very positive and confirm the
presence of gold mineralization between the DAC Deposit and the Darla Zone and
indicate that some of the gold zones could be linked for a total mineralization
length of 2 km.
Twelve of the fifteen holes completed during the 2011-2012 drilling program
focused on testing the under-explored area between the DAC Deposit and the Darla
Zone at shallow depths (see Figure 1 on Alto's website www.altoventures.com).
Three holes (DES11-141 to 143) were completed to test the Despinassy Shear Zone
to the west of the DAC Deposit. The holes were drilled on Sections 316025E,
316125E and 316200E, between 700 m and 900 m to the west of the DAC Deposit.
Each of the three holes intersected sheared and altered rocks and hole
DES11-141intersected anomalous gold values including 0.865 g/t gold over 1.4 m.
In total, 3,472 m were drilled in 15 holes during the 2011-2012 program.
The 2012 drilling has established that there is significant gold mineralization
associated with the Despinassy Shear Zone between the DAC Deposit and the Darla
Zone. An in-fill program of closer spaced holes will now be required to
determine if the gold zones delineated with the current drilling have potential
to add significant tonnes and ounces to the DAC Deposit.
As of January 2011, the DAC Deposit has an Indicated Resources of 10.8 Mt
grading 1.05 g/t Au (at 0.5 g/t Au cut-off) for 364,000 ounces of gold and
Inferred Resources of 8.3 Mt grading 0.92 g/t Au (at 0.5 g/t Au cut-off) for
247,000 ounces of gold. The DAC Deposit and the Darla Zone are two of several
significant gold occurrences along a four kilometre segment of the Despinassy
Shear Zone.
Table 1: Significant Gold Assays from Holes DES12-150 to 155
---------------------------------------------------------------------------
Width (m)
Hole Number From (m) To (m) (i)downhole Au (g/t)
---------------------------------------------------------------------------
DES12-150 35.3 36.3 1.0 1.54
93.7 102 8.3 0.43
132.5 133.5 1.0 2.78
148.5 158.5 10.0 0.39
175.5 178.5 3.0 0.78
185.5 188.7 3.2 0.69
---------------------------------------------------------------------------
DES12-151 90.6 95.0 4.4 1.07
---------------------------------------------------------------------------
DES12-152 114.0 121.3 7.3 0.34
---------------------------------------------------------------------------
DES12-153 27.0 36.75 9.75 0.34
and 116.25 117.25 1.0 6.6
---------------------------------------------------------------------------
DES12-154 129.45 135.6 6.15 0.3
197.45 206.4 8.95 0.7
328.2 329.25 1.05 22.7
---------------------------------------------------------------------------
DES12-155 36.45 41.9 5.45 0.9
includes 37.65 38.65 1.0 3.39
49.5 56.75 7.35 0.31
150.85 160.05 9.2 0.27
---------------------------------------------------------------------------
(i) Based on core angles and previous drilling on the property, true widths
are estimated at approximately 80 to 90% of the down-hole lengths
reported. Mineralized zones generally start at 0.1 g/t gold and assay
averages may include minimal intervals of waste material. No top cuts
of assays were used.
About the Destiny Property
The property consists of 177 claims totalling 7,421 ha and is located
approximately 100 km by road north of the city of Val-d'Or. The property is
accessible by provincial highway 397 which passes through the property.
Next Gen is earning a 60% interest in the property from Alto.
About the DAC Deposit
The main area of mineralization on the Destiny Gold Property is the DAC Deposit
which occurs over a strike length of about 600 m. In this area, five
identifiable intervals of quartz veining and shear-related alteration zones
carry significant gold mineralization for which a Mineral Resource Estimate
Report was prepared in 2011.
The Mineral Resource Estimate Report was prepared for the DAC Deposit by
Wardrop, a Tetra Tech Company (Wardrop) and filed on Sedar on March 7, 2011.
Using a cut-off grade of 0.5 g/t gold and the Inverse Distance Squared (ID2)
estimation method, the five gold zones that make up the DAC Deposit contain an
Indicated Resource of approximately 10.8 million tonnes with an average grade of
1.05 g/t gold (364,000 contained ounces). In addition, the Inferred Resource
totals approximately 8.3 million tonnes with an average grade of 0.92 g/t gold
(247,000 contained ounces). The resources block considers the mineralization to
start at approximately 15 m below surface down to a depth of 400 m for the
deepest zone. The mineralization remains open below 400 m. For details regarding
the resource estimate methods and calculation parameters used in preparation of
the Report please see the news releases issued by Alto and PFN on March 7, 2011.
The Report can be view on each of the Company's websites at
www.nextgenmetalsinc.com and www.altoventures.com.
Mineral Resources are not Mineral Reserves and by definition do not demonstrate
economic viability.
The DAC Deposit remains open along strike and to depth and is one of several
significant gold occurrences along a four kilometre segment of the Despinassy
Shear Zone. The Darla Zone, which lies one km east of the DAC Deposit, was
discovered in 2006. At this location, drilling intersected 19.5 g/t gold across
2.1 m and 20.6 g/t over 0.8 m. The gold mineralized sections within the Darla
are similar to those hosting the gold zones at the DAC Deposit. The occurrences
of high grade gold mineralization in the Darla, DAC and 20 and 21 zones clearly
indicate that the mineralizing system persists across a significant portion of
the property. The gold mineralization at these occurrences starts near surface,
and with additional drilling these targets could add significant contained
ounces to the already defined resources at the DAC Deposit.
Quality Assurance/Quality Control
Core processing included descriptive logging and selection of samples for
analyses. The NQ-size cores were sawed in half and one half was delivered to a
commercial laboratory. The samples were delivered to the SGS Mineral Services
preparation laboratory in Sudbury where they were crushed and a 250 gram pulp
was prepared. The pulp was then shipped to SGS Mineral Services in Toronto for
analyses. The gold assaying method uses a standard Fire Assay with ICP finish
technique on a 30 gram aliquot taken from the 250 gm pulp. Commercially prepared
standards and blanks were inserted by Alto every 25 samples to ensure precision
of the results. The laboratory performs routine repeat check assays on pulps of
selected samples to ensure internal lab quality control.
The laboratory was instructed to prepare and analyze a second 250 gram pulp from
the reject for those samples that indicated gold values of greater than 1 g/t on
the initial analysis. The gold assaying method on the re-split uses a standard
Fire Assay with Gravimetric finish technique on a 30 gram aliquot.
Qualified Person Statement
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.
About Next Gen Metals Inc.
Next Gen is a mineral exploration company whose current focus is on silver, gold
and base metals projects in North America. The Company has acquired a 60% option
interest (TSX VENTURE:N) on the Destiny Gold Project (Indicated Resource of
364,000 ounces plus an Inferred Resource of 247,000 ounces of gold) In addition,
Next Gen is presently advancing the Silver Chalice Project, located in Alaska,
and the Fate Gold Project adjacent to the Destiny Gold Project, both of which
are located in the Abitibi Greenstone Belt of Northwest Quebec, one of the most
famous gold and base metals regions in the world. Next Gen continues to
aggressively negotiate for additional advanced-stage silver, gold and base metal
projects on an international scale.
Next Gen http://www.nextgenmetalsinc.com is the newest company to join the
International Metals Group ("IMG") (www.internationalmetalsgroup.com).
About Alto Ventures Ltd.
Alto Ventures Ltd. is an exploration and development company with a portfolio of
highly prospective Canadian gold and base metals properties. The Company is
active in Quebec in the Abitibi greenstone belt on the Destiny gold property and
in Ontario, exploring in the Beardmore-Geraldton gold belt. In Manitoba, the
Company is focused on the gold and base metals potential of the highly
prospective but relatively under-explored Oxford Lake property.
For more details regarding the Company's projects, please visit our website at
www.altoventures.com.
ON BEHALF OF THE BOARD,
Rick Mazur, P.Geo., CEO & Director
Alto Ventures (TSXV:ATV)
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