ColdstreamColdstream Property
3808 Hectare property
100% owned by Alto
Property covers 10 km of well developed deformation alteration corridor
Iron-Oxide-Copper-Gold type alteration and mineralization with large tonnage potential
In late 1980's Noranda drilled the East Coldstream deposit outlining a 5.1 million tonne historical resource at an average grade of 1.4 g/t containing 234,000 ounces of gold
Drilling by Alto in 2006 confirmed wide zones of mineralization, up to 68 m with an average grade of 1. 21 g/t gold at East Coldstream; deposit is open along strike and to depth
The Coldstream Property, located 100 kilometers west of Thunder Bay, Ontario, consists of 82 patented, unpatented and license of occupation mineral claims totaling 1,840 hectares and includes the former North Coldstream Mine which was operated by Noranda Inc. from 1959 to 1967. A total of 2.7 million tons ore were mined with production in excess of 102 million lb. copper, 22,000 oz. of gold, and 440,000 oz. of silver. Besides the historic copper mine, which has been neither re-evaluated nor explored for 35 years, the Coldstream property hosts significant undeveloped gold mineralization which represents Alto's principal target. The original gold discoveries, designated the East Coldstream zones, were made in 1988 and explored by Noranda and Freewest Resources from 1989 through 1991. An evaluation by Newhawk Gold Mines Ltd. in 1995 delineated a resource of 7.6 million tonnes grading 2.0 grams gold per tonne containing approximately 485,000 ounces gold. The resource estimate is based upon 6,138 meters of core drilling but was not calculated or classified under the current specifications as outlined in National Instrument 43-101.
The Coldstream property lies along a well developed deformation/alteration corridor. Excellent potential exists to extend the East Coldstream deposit down plunge and to the east with a view to improved grades and/or widths. A number of high grade intersections have been outlined (e.g. 37.7g/t Au over 1m; 22.6g/t Au over 1.3m) along well defined shear zones. In addition, numerous gold showings on the property have received little attention, as the focus in the past was on a bulk mineable low grade deposit. The Company plans to re-evaluate the potential for higher grade shear hosted gold vein deposits.
The Coldstream Project is 100% owned by Alto subject to a 2% Net Smelter Return Royalty to The Other Mining Company, a wholly owned subsidiary of Hidefield plc.