The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Thursday, 9th April 2009 (1504 views)

Alto Ventures has entered into a letter of agreement with Foundation Resources regarding its Coldstream gold property.

Under the terms of the deal, capital pool corporation Foundation Resources has been granted an option to acquire up to 70 per cent of the project, located in the Burchell Lake Area of Ontario, Canada.

Alto Ventures revealed that Foundation can purchase up to 60 per cent of the Coldstream property by issuing a total of one million common shares over a two-year period and incurring expenditures over the next four years, while the remaining ten per cent can be acquired by completing a feasibility study.

The Coldstream gold project comprises 71 patented claims and 55 staked claims covering 4,357 hectares and is situated in the Shebandowan greenstone belt.

Based in Vancouver, British Columbia, Alto Ventures is a listed on the TSX Venture Exchange and is a gold exploration and development company with a portfolio of gold properties in the Canadian Shield.

 

« Back to Gold News stories