Alto Ventures Ltd.: Drilling Intersects 78 Grams Per Tonne Gold on Destiny Gold Project, Val d'or Area, Quebec
April 10 2012 - 8:00AM
Marketwired Canada
Alto Ventures Ltd. ("Alto") (TSX VENTURE:ATV) and Next Gen Metals Inc. ("Next
Gen") (TSX VENTURE:N) are pleased to announce assay results from the first six
holes of the 2012 drill program on the Destiny Gold project located near
Val-d'Or, Quebec.
Results
Drill holes DES12-144 to DES12-149 were designed to test for the presence of
gold mineralization at shallower depth along the strike between the DAC Deposit
to the west and the Darla Zone to the east ( Figure 1), thereby expanding the
mineralized zone down-dip and along the strike. These six drill holes confirm
the presence of higher-grade gold values that occur within a broad lower-grade
mineralization envelope with strong alteration and shearing between the DAC
Deposit and the Darla Zone.
Drill hole DES12-147 was drilled on Section 318260E and intersected 78.7 g/t
gold over 1.0 m from 87.5 m to 88.5 m within a higher grade envelope that
averages 11.3 g/t gold over 8.0 m from 85.5 m to 93.5 m.
Drill holes DES-144 and DES-145 are located approximately 600 m east of the DAC
Deposit and collared on section 318160E, approximately 100 m west of Section
318260E. The space between the holes is approximately 100 m and the holes were
drilled at an azimuth of 180 degrees.
DES12-144 intersected several gold bearing intervals including 1.05 g/t gold
over 10 m from 184 m to 194 m and 1.04 g/t gold over 11 m from 206 m to 217 m.
DES12-145 intersected several gold bearing intervals including 1.37 g/t gold
over 3.25 m from 85.25 m to 88.9 m with a higher grade section averaging 3.47
g/t gold over 1.35m from 86.45 m to 87.8 m.
Holes DES12-146, 148 and 149 also intersected sheared and altered rocks with
anomalous gold values (Table 1). Results from the remaining six holes of the
program will be released as they become available.
The results from these six holes are very positive and confirm the presence of
gold mineralization between the DAC Deposit and the Darla Zone indicating that
the two separate zones could be linked for a total mineralization length of 2
km. The 2012 drill program has focused on testing the under-explored area
between the DAC Deposit and the Darla Zone at shallow depths (Figure 1) and
consisted of 3,472 m in 18 holes.
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 cutoff) 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 cutoff) for
247,000 ounces of gold.
Table 1 - Significant Gold Assays from Holes DES12-144 to 149
-------------------------------------------------------------------------
Width (m)
Hole Number From (m) To (m) (i)downhole Au (g/t)
-------------------------------------------------------------------------
DES12-144 154.5 157 2.5 1.03
184 194 10.0 1.05
includes 186 189 3.0 2.97
206 217 11.0 1.04
includes 213 215 2.0 3.96
-------------------------------------------------------------------------
DES12-145 60.35 62.6 2.25 1.87
85.25 88.9 3.65 1.37
includes 86.45 87.8 1.35 3.47
110 120.3 10.3 0.52
134.7 135.3 0.7 2.75
146.7 154.5 7.8 0.42
-------------------------------------------------------------------------
DES12-146 156.6 159.6 3.0 1.2
205.65 214.95 9.3 0.54
219.45 230.0 10.55 0.31
-------------------------------------------------------------------------
DES12-147 85.5 93.5 8.0 11.3
includes 87.5 88.5 1.0 78.7
and 90.5 91.5 1.0 10.2
132.5 135.6 3.1 0.6
143.0 152.0 9.0 0.73
-------------------------------------------------------------------------
DES12-148 156.0 157.0 1.0 1.33
177.0 182.0 5.0 0.33
-------------------------------------------------------------------------
DES12-149 108.8 109.4 0.6 1.33
-------------------------------------------------------------------------
(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.
To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/a49m.pdf
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
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