Alto Ventures News Release
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ALTO ACQUIRES MORE GROUND IN
BEARDMORE-GERALDTON
WINTER EXPLORATION PROGRAMS OUTLINED
Vancouver, B.C. January 16, 2008. Alto
Ventures Ltd. (ATV: TSX.V) is pleased to announce that it has acquired
through staking 161 claim units totalling 2,576 hectares. These claims are
located east of the Alto-Wescan Goldfields Inc Mud Lake Property and south of
the Hercules Project operated by Kodiak Exploration. The Company is also
pleased to confirm its planned winter exploration programs including diamond
drilling at Mud Lake as well as airborne geophysical surveying and diamond
drilling at Despinassy.
Mud Lake, Beardmore-Geraldton Gold Belt, Ontario
Drilling on the Alto-Wescan Mud Lake Project
started in late November and nine holes were completed prior to the Christmas
break. Drilling resumed again on January 9 to complete the remaining nine
holes of the planned program announced on November 22, 2007. Earlier work on
this property identified 12 surface gold occurrences along a six kilometre
segment of the Mud Lake Shear Zone ("MLS") but these occurrences
were not drilled until the commencement of Alto's 2007 winter program.
During 2007, Alto drilled three of the 12 gold
occurrences intersecting up to 13.9 g/t gold across 1.0 m within a wider zone
of gold mineralization that assays 3.39 g/t across 6.1 m (see Alto news
releases dated March 6 and March 20, 2007). The program currently underway
will follow-up on gold mineralization intersected at the three occurrences
drilled during 2007 and test another three targets along the MLS that were
not drilled previously. This work is part of a longer term strategy to
evaluate each of these gold targets with diamond drilling and start to
delineate in detail those that display continuity of mineralization and
grade.
Samples from the nine holes were delivered for analyses on December 21
and gold assay results are expected shortly.
Despinassy,
Quebec
The Company has recently signed a Letter of Intent with its joint
venture partner, Commander Resources Ltd ("Commander") to increase
its ownership in Despinassy to 100% by purchasing Commander's 24.5% interest
in this property (see Alto news released dated January 10, 2008). Following
this agreement, the Company is planning an aggressive exploration program on
the property and has contracted Geotech Ltd to fly helicopter borne time-domain
electromagnetic (VTEM) and magnetometer surveys over the property. These
surveys are scheduled to commence in late January.
Gold at Despinassy is associated with shear-hosted quartz vein sets
which locally have significant sulphides associated with them. The best gold
grades and continuity of mineralization occur in local folds within the
extensive Despinassy Shear Zone but these folds are not easily identified
because of the overburden cover. The VTEM survey is expected to help locate
this folding and identify areas of increased sulphide mineralization which
may be gold bearing.
A diamond drilling program consisting of 4,000 m in 15 to 20 holes
will focus on the incompletely explored Darla Zone and the gold zones located
in Area 3 of the property. The drilling contract was awarded to Forage Val
d'Or and the program is anticipated to commence at the end of January and to
be completed in early April.
Previous drilling on the property delineated the DAC Deposit and a
NI43-101 compliant mineral resource of 167,000 tonnes grading 6.88 g/t gold
in the Indicated plus 445,000 tonnes grading 4.46 g/t gold in the Inferred
categories (see Alto news release dated November 26, 2006). Drilling has also
identified several other high priority targets along a six kilometre segment
of the Despinassy Shear Zone including the Darla Zone where drilling
intersected 19.5 g/t gold across 2.1m (see Alto news release dated March 29,
2006) and several gold zones in Area 3 located three kilometres east of the
DAC Deposit (4.6 g/t gold across 2 m in Zone 20 and 2.4 g/t gold across 6 m
in Zone 21).
The Company remains optimistic that this drilling will confirm the
potential on the property for a significant Abitibi-style gold deposit within
the six kilometre long Despinassy structural zone.
Alto's President, Mike Koziol commented "We are very pleased that
these programs will advance two of our key projects and look forward with
anticipation to what looks to be an exciting winter exploration season".
Mike Koziol, P. Geo., P.Eng. and Alto's President and CEO is the
Qualified Person who has reviewed and approved this news release.
About
Alto Ventures Ltd
Alto Ventures Ltd. is a gold exploration and development company with
a portfolio of twelve 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 on to 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 Beardmore and Shebandowan gold districts.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President and CEO
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
For
further information contact:
Mark
Prosser
Manager Investor
Relations
ALTO VENTURES LTD.
910-475 Howe Street
Vancouver, BC V6C 2B3
Tel: 604-638-3947
Fax: 604-689-3609
Email: mark@altoventures.com
Website: http://www.altoventures.com/
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