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Alto-Wescan Finalize Drill Contract For Mud Lake Project,
Beardmore-Geraldton Gold Belt
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Vancouver, B.C., October 4, 2007. Alto Ventures Ltd. (ATV: TSX-V) is
pleased to announce that a contract has been executed for the diamond
drilling on the Alto-Wescan Goldfield Inc. ("Wescan"), (WGF: TSX-V) Mud
Lake Project in the Beardmore-Geraldton Gold Belt. The drill contract
stipulates a minimum of 1,200 metres (m) of drilling in 18 to 20 holes
and the drilling is scheduled to start in November. The Mud Lake
property lies adjacent to the Hercules Property where Kodiak
Exploration Ltd. recently reported drilling results confirming
significant gold mineralization, including 38.47 grams per tonne (g/t)
gold across 1.6 m in drill core and 32.96 g/t gold across 11.6 m in
surface channel samples (see Kodiak Exploration news release dated
October 1, 2007).
Previous work at Mud Lake included the discovery of twelve gold
showings associated with a major shear zone (Mud Lake Shear -MLS). The
MLS was traced for more than six kilometres on the property but had not
been drilled prior to Alto's 2007 winter program which tested three of
the twelve surface gold showings and intersected gold-bearing quartz
veins at each of those showings. Gold values up to 13.9 g/t across 1.0
m were intersected 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 November drilling will, in part follow-up on gold mineralization
intersected at two of the three occurrences drilled previously and test
for the first time, another three occurrences along the MLS which have
yet to be drill tested. This work is part of a longer term strategy to
evaluate each of the surface occurrences with diamond drilling and
start to delineate in detail those that display continuity of
mineralization and grade and show potential for the concentration of
economic mineralization.
Surface trenching, washing and sampling programs were completed in
September in two areas along the MLS to fill gaps along strike between
previously discovered gold showings. Samples from the trenched areas
were delivered for analyses and results are expected within the next
four to six weeks.
In June, 2007, Alto and Wescan entered into an Option Agreement on the
Mud Lake Property. Under the terms of the Option Agreement, Wescan can
earn 50% in the property by funding $600,000 in exploration and issuing
a total of 150,000 Wescan shares to Alto over two years. The surface
trenching, washing and sampling and upcoming diamond drilling programs
are funded by Wescan in accordance with the terms of the Option
Agreement.
In August, 2007, Alto entered into an Option Agreement with Kodiak
Exploration Ltd. to explore and develop Alto's Cote-Archie Lake
Property. The property is located six kilometres north of the Town of
Beardmore near the west end of the Beardmore-Geraldton Gold Belt and on
strike with the historic Leitch Mine which produced 860,000 ounce of
gold at an average grade of 0.92 oz/ton.
Mike Koziol, P. Geo., P.Eng. and Alto's President and Director is the
Qualified Person that 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 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 Beardmore and Shebandowan
gold districts.
ON BEHALF OF THE BOARD,
Mike Koziol, P. Geo., P. Eng.
President
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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