Alto Ven­tures re­ceives work per­mit for Ox­ford Lake

Stockwatch Daily - - MINES & METALS - Mr. Mike Koziol re­ports

FUR­THER TO its news re­lease dated Nov. 6, 2017, Alto Ven­tures Ltd. has re­ceived a work per­mit to carry out ex­plo­ration pro­grams con­sist­ing of line cut­ting, ground geo­physics and 3,000 me­tres of di­a­mond drilling on its Ox­ford Lake project in Man­i­toba. The work per­mit was is­sued with cer­tain con­di­tions, in­clud­ing a re­quire­ment that a her­itage re­source im­pact as­sess­ment (sat­is­fac­tory to the His­toric Re­sources Branch of Man­i­toba Sport, Cul­ture and Her­itage) be com­pleted be­fore work be­gins.

Given the con­di­tions of the per­mit, and given that the planned work can best be car­ried out dur­ing the win­ter, Alto does not plan to un­der­take the work this win­ter sea­son. How­ever, the com­pany will pro­ceed with the her­itage re­source im­pact as­sess­ment and con­tinue to en­gage the Bu­ni­bonibee Cree Na­tion (BCN) on op­por­tu­ni­ties as­so­ci­ated with the project. Alto has, in the past, re­tained a num­ber of BCN mem­bers and com­pa­nies for a range of ser­vices, in­clud­ing line cut­ting, ground geo­physics, ice road main­te­nance, camp per­son­nel and fuel pur­chases from the com­mu­nity for the geo­phys­i­cal sur­vey and drill pro­gram. A de­ci­sion as to whether to pro­ceed with a drill pro­gram will be made prior to the win­ter of 2020.

Mike Koziol, PGeo, Alto’s pres­i­dent, is a qual­i­fied per­son un­der the pro­vi­sions of Na­tional In­stru­ment 43-101. Mr. Koziol ap­proves the tech­ni­cal data and con­clu­sions in this news re­lease.

About the Ox­ford Lake project

The Ox­ford Lake gold prop­erty tar­gets banded iron for­ma­tion-as­so­ci­ated (BIF) gold de­posits in cen­tral Man­i­toba, ap­prox­i­mately 150 kilo­me­tres south­east of Thomp­son. The prop­erty in­cludes the banded iron for­ma­tion-hosted Rusty gold de­posit, with his­tor­i­cal re­sources of 800,000 tonnes av­er­ag­ing six grams per tonne gold (ap­prox­i­mately 154,000 con­tained ounces of gold) as well as sev­eral other gold oc­cur­rences. The Blue Jay gold zone lies on trend and two kilo­me­tres east of the Rusty de­posit; it too is as­so­ci­ated with BIF. Drilling by Alto in 2012 on the Blue Jay zone in­ter­sected two zones of high-grade gold min­er­al­iza­tion in hole RUS12-03: zone No. 1 re­turned 2.7 me­tres av­er­ag­ing 6.7 grams per tonne gold, in­clud­ing 22.5 grams per tonne gold over 0.5 me­tre; and zone No. 2 re­turned 6.8 me­tres av­er­ag­ing 5.7 grams per tonne gold, in­clud­ing 11.7 grams per tonne gold over 1.6 me­tres and 16.5 grams per tonne gold over one me­tre.

Both the Rusty de­posit and Blue Jay zone lie along the Car­rot River-Rusty-Blue Jay trend, a lin­ear trend of mag­netic highs that was traced by Alto’s 2011 air­borne geo­phys­i­cal sur­veys for over 30 kilo­me­tres, but only a few holes were drilled along this trend, in­clud­ing his­tor­i­cal hole CR92-2. CR92-2 was drilled 10 kilo­me­tres west of the Rusty de­posit in the Car­rot River area, in­ter­sect­ing 0.98 gram per tonne gold over 3.1 me­tres hosted by 10.3-me­tre-wide BIF units.

BIF de­posits, such as the Mus­sel­white mine in On­tario, tend to be large and rel­a­tively high grade. Past pro­duc­tion at the Mus­sel­white mine to the end of 2017 was 25.67 mil­lion tonnes at an av­er­age grade of 5.92 grams per tonne gold (4.88 mil­lion ounces of gold). Proven and prob­a­ble re­serves to June 30, 2017, were 8.8 mil­lion tonnes av­er­ag­ing 6.5 grams per tonne gold (1.85 mil­lion ounces) as well as over eight mil­lion tonnes in var­i­ous re source est imate cat­e­gories.

About Alto Ven­tures Ltd.

Alto Ven­tures 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.

David John Cowan, Mar­ian A Koziol, Richard James Mazur, Michael Al­bert Steeves, Gary Frank Joseph Zak

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