Alto Stakes Claims on Trend from Centerra/Premier Gold JV Brookbank Gold Deposit, Beardmore, Ontario
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2018) - Alto Ventures Ltd. (TSXV: ATV) is pleased to announce the acquisition through staking of 63 claim units totaling 1,300 hectares located in the Beardmore-Geraldton gold belt, approximately 25 km east from Beardmore and 55 km west from Geraldton (the "Brookbank East Project").
The Brookbank East property lies along an easterly trend of numerous gold occurrences, including the Brookbank Gold Deposit held in a 50/50 joint venture between Centerra Gold and Premier Gold. The Brookbank Deposit is reported to include open-pit Measured and Indicated Resources of 2.64 million tonnes averaging 2.02 g/t Au and containing 172,000 ounces. Underground resources are reported to include Measured and Indicated Resources of 1.86 million tonnes averaging 7.21 g/t Au and containing 430,000 ounces of gold (www.premiergoldmines.com). The Brookbank Gold Deposit is located at or near the sheared contacts between mafic volcanic rocks and metasediments, including a large component of polymictic conglomerates. Gold mineralization occurs with multiple quartz-carbonate stringers, veinlets and/or stockworks that give rise to broad zones of mineralization 20 to 50 m wide closer to surface and continuing to 700 m depths.
Brookbank East is located approximately 15 km east of the Brookbank Gold Deposit and is underlain by easterly trending mafic volcanic rocks in contact with a sequence of polymictic conglomerates from 300 m to 700 m thick. Results from some of the historical work include 10 g/t Au over 0.91 m intersected in a 1992 drill hole at the southeast end of the Brookbank East property. Grab samples up to 7.68 g/t Au were obtained in 1988 from altered quartz veins in historical trenches near the centre of the property. Some of these trench areas were drilled in 1998. Records from the diamond drilling in the government assessment files indicate that favourable geology and alteration similar to the Brookbank Gold Deposit were intersected but no sampling was carried out at the time of drilling.
"We are very pleased to continue expanding our portfolio of highly prospective gold properties in the Beardmore-Geraldton gold belt" stated Rick Mazur, Alto Ventures CEO and Director. "Brookbank East will be prospected this summer after we start our summer exploration program at Miner Lake. We expect to start geological and structural mapping at Miner Lake in mid-May with diamond drilling planned in August or early September after drill targets have been prioritized".
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.
Figure 1 Alto Ventures Property Portfolio in the Beardmore-Geraldton Gold Belt
To view an enhanced version of Figure 1, please visit:
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About Alto Ventures Ltd
Alto Ventures Ltd. is an exploration and development company with a portfolio of highly prospective Canadian gold properties. The Company is active in the Abitibi greenstone belt in Quebec on the Destiny gold property and is exploring in the Beardmore-Geraldton gold belt in Ontario. 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,
Richard J. Mazur, P. Geo.,
CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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