Friday, 22nd February 2008 (1759 views)

Recently completed drilling at the Mud Lake joint venture project has intersected significant gold mineralisation, according to one of the company's involved in the scheme.

Alto Ventures, which is partnering with Wescan Goldfield on the property, said four holes had hit gold, with results including 7.5 g/t gold across ten metres.

Other results include 13.97 g/t gold over one metre, 7.25 g/t gold over one metre and 6.34 g/t gold over 0.5 metres. To date, Alto has intersected gold mineralisation in 13 of the 30 holes drilled in total at Mud Lake.

Mud Lake is located within Ontario's Beardmore-Geraldton gold belt. It is bordered to the north by the Hercules property, where drilling by Kodiak Exploration continues to intersect gold mineralisation, while to the south and south-west sits the Brookbank gold deposits, which contains an estimated 629,900 ounces of the yellow metal.

In related news, Alto has started work on a 4,000-metre diamond drilling programme at the Despinassy property in Quebec. A previous mineral estimate for the site puts its indicated resources at 167,000 tonnes grading 6.88 g/t gold, with a further 445,000 tones grading 4.46 g/t gold in inferred resources.

Alto Ventures is currently working at two other properties in Canada, Coldstream in Ontario and the Oxford Lake project in Manitoba.

 

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