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Alto Ventures Ltd (2)
Symbol ATV
Shares Issued 24,116,214
Close 2015-03-31 C$ 0.055
Market Cap C$ 1,326,392
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Alto finds kimberlite indicator minerals at West Fisher

2015-04-01 09:05 ET - News Release

Mr. Richard Mazur reports

ALTO VENTURES RECOVERS KIMBERLITE INDICATOR MINERALS ON THE WEST FISHER CLAIMS NORTHWEST OF THE PIKOO DIAMOND DISCOVERY, NORTHERN SASKATCHEWAN

Alto Ventures Ltd. has recovered kimberlite indicator minerals (KIM) from the West Fisher claims located 12 kilometres northwest of North Arrow Minerals Inc.'s Pikoo diamond discovery in Northern Saskatchewan. North Arrow recently reported discoveries of three new kimberlites from its 2015 drilling program on the Pikoo property (see North Arrow's news release dated March 30, 2015).

Alto's chief executive officer, Rick Mazur, stated: "The recovery of KIMs by Alto on the West Fisher claims is a strong indication that the diamond potential extends to the northwest of Pikoo. The recently announced discovery of three more kimberlites on the North Arrow Pikoo property, and delineation of multiple kimberlite indicator mineral dispersion trains on Alto's adjoining GEFA property, provide further evidence that the North Saskatchewan Craton is emerging as a new diamond district in Canada."

Twelve of the 37 till samples collected from the West Fisher claims contain chromium-rich chromite KIM grains. Within these, there are five chromite grains from four different samples that are of particular interest, as they contain very high chromium, ranging from 62.08 per cent to 66.33 per cent chromium (III) oxide, which is above the usual 62-per-cent threshold for diamond inclusions.

The results reported herein are from samples collected as part of Alto's 2014 till sampling program, which covered these claims as well as Alto's GEFA property. The GEFA property lies immediately adjacent to the Pikoo diamond discovery to the east. Results from the 2014 sampling program identified multiple kimberlite indicator dispersion trains containing chromium pyrope garnets, magnesium ilmenites and chromites (see Alto news release dated Feb. 23, 2015). One of the KIM trains on the eastern half of GEFA features an eclogite garnet comparable with most eclogite inclusions in diamond (see Alto news release dated Jan. 22, 2015). This previously announced dispersion train also includes a chromite similar to chromite inclusions in diamond, chromium pyrope garnet, magnesium ilmenites (picroilmenites) and a second orange garnet comparable with chromium poor megacrysts (a distinctive component of some kimberlites). Additional KIM samples worthy of follow-up are located in the western half of the GEFA property. Alto plans a summer program of further KIM sampling, prospecting and ground geophysics to verify targets identified by a high-resolution aeromagnetic survey.

Alto's kimberlite and diamond consultant, Dr. Harrison Cookenboo, PGeo, has reviewed field procedures, technical data and conclusions described in this news release. He is a qualified person under the provisions of National Instrument 43-101, and approves of technical data and conclusions in this news release.

Alto is earning a 60-per-cent interest in the GEFA claims by making staged payments to the vendors totalling $60,000 over two years, and completing $750,000 in exploration work on the property over 30 months (see Alto Ventures news release dated Jan. 27, 2014). To date, Alto has paid $25,000 in cash and spent approximately $400,000 on exploration. Alto is earning a 100-per-cent interest in the Fisher claims by issuing to the vendor 25,000 shares of Alto, and making cash payments totalling $18,000 over two years (see Alto Ventures news release dated Jan. 22, 2014). Alto has paid $8,000 in cash to date.

Quality assurance/quality control

Alto's field crews collected a total of 325 till samples during the 2014 sampling program, using a float plane to access sample sites. Each sample comprised 10 kilograms (field weight) of till that passed through a six-millimetre screen. Till samples were shipped to the Saskatchewan Research Council (SRC) geoanalytical laboratories in Saskatoon for processing. SRC is an experienced laboratory in KIM samples operating in accordance with ISO/IEC 17025:2005. Processing at SRC consists of creating a heavy mineral concentrate, hand-picking the concentrate for potential kimberlite indicator minerals and then electron microprobe analysis of picked grains. Details of SRC's KIM processing routine and quality control are available on the SRC website. Picked grains are only counted as kimberlite indicator minerals or diamond indicator minerals by Alto after review of the electron microprobe data using industry-standard chemical criteria.

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