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Alto Acquires New Project In The Beardmore-Geralton Gold Belt
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Vancouver, B.C., September 5, 2007. Alto Ventures Ltd. (ATV: TSX-V) is
pleased to announce that it has acquired a fourth gold exploration
project, the Cote-801 Property, in the Beardmore-Geraldton Gold Belt.
The property is located along Provincial Highway 11 approximately 20 km
east of the Town of Beardmore, Ontario and 7 km south of Alto's Mud
Lake Project.
Under terms of an Option to Purchase Agreement, Alto has the option to
acquire 100% interest in the 976 ha property by making cash payments
totalling $30,000 and issuing 90,000 Alto shares over two years to the
Vendors. The Vendors retain a 2% Net Smelter Returns royalty and Alto
has the option to buy back 1% for $1 million. The Option Agreement is
subject to acceptance by the TSX Venture Exchange.
Previous work in the project area dates back to the early 1990s and was
limited to prospecting, ground geophysics, mechanical stripping and
sampling. This work by Freewest Resources Inc. resulted in discovery of
highly anomalous gold values along a 200 m corridor. Results reported
by Freewest include gold values up to 61.5 g/t (1.8 oz/ton) in grab
samples and up to 4.5 g/t gold across 0.3m in surface channel samples.
The gold is associated with pyrite, arsenopyrite and quartz veins in
sheared and sulphidized iron formation bands. These results are very
encouraging as the style of mineralization found on the Cote-801
Project is similar to the gold deposits previously mined in the
Geraldton area. Parts of the project area were clear-cut logged during
the winters of 2006 and 2007 and the logging activities exposed
additional zones of shearing, sulphide mineralization and quartz veins
that have not been previously sampled.
Historically, the Beardmore-Geraldton Gold Belt produced over 4.1
million ounces of gold and is now experiencing a resurgence of
exploration with extensive staking of claims covering huge sections of
the gold belt. Alto is well positioned to participate in the increasing
exploration activity with four projects in the gold belt. Recently,
Alto entered into Option Agreements on its Mud Lake Project with Wescan
Goldfields Inc. (Alto news release dated June 13, 2007) and on its
Cote-Archie Lake Project with Kodiak Exploration Ltd. (Alto news
release dated August 9, 2007).
The Alto-Wescan partnership has approved a $300,000 exploration program
for the Mud Lake property that will include surface work to start in
September followed by
Diamond drilling of 18 to 20 holes (Alto news
release dated August 21, 2007). A planned exploration program for the
Cote-801 Project will include prospecting, mechanical stripping and
sampling in preparation for
Diamond drilling. The Cote-801 program will
start after the Mud Lake surface work is completed in late September.
Mike Koziol, P. Geo., P.Eng., Alto's President and Director is the
Qualified Person who has reviewed and approved the content of this news
release.
About Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with a
portfolio of eleven properties in the Canadian Shield. With a pipeline
of quality projects, the Company's approach to maximizing opportunities
while minimizing exploration risk is to attract well financed partners
with the technical expertise to take the projects onto feasibility and
subsequently production.
Alto's Management and Board of Directors have a long and successful
track record of creating shareholder value through systematic
exploration, acquisitions and discovery. The Company is currently
active in Quebec where it is focussed on the Despinassy project in the
Abitibi Greenstone Belt and in Ontario in the Shebandowan and Beardmore
gold districts.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President and Director
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
For further information contact:
Mark Prosser
Investor Relations Manager
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC, V6C 2B3
Tel: 604-689-2599
Fax: 604-689-3609
Email: mark@altoventures.com
Website: www.altoventures.com
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Copyright (c) 2007 ALTO VENTURES LTD. (ATV) All rights reserved. For
more information visit our website at http://www.altoventures.com/ or
send mailto:info@altoventures.com
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