Alto Group Holdings Inc., an exploration-stage mining company, today announced the acquisition of the Los Tres Machos property. The Los Tres Machos property is a 1,000 hectare gold and silver prospect in Mexico. The property is centered on the abandoned Los Tres Machos mine which has been worked historically from the late 1500s.
The company’s newly-acquired property is ideally situated. It is easily accessible by all-weather surfaced roads and, in addition, there is abundant water nearby and electrical power is readily available from the national grid. There is also a skilled labor pool available in the area within walking distance from the mine site. In fact, there are approximately 50 mining companies working in the area surrounding Alto Group’s Los Tres Machos property.
Between December 2005 and May 2006, Mexican Hunter Exploration carried out field and geological work and commissioned extensive assay testing utilizing both Mexican and Canadian assay labs to re-confirm accrete results. At present, the company has calculated a possible resource on this property of 300 million tons grading 1.00 gram of gold per ton and 100 grams of silver per ton.
The bottom line is that this property could be a world-class open pit mine with no stripping required, producing as much as 10 million ounces of gold and over 1 billion ounces of silver. Alto Group plans to complete mapping, geo-chemical, geological, drilling and a NI 43-101 geological report on the Los Tres Machos gold and silver mine.
The company’s $275,000 core drilling program, which will be started later this year, will begin to make the reserves bankable. Alto Group is also in the process of negotiating an additional 500 hectares around Los Tres Machos for additional expansion of its planned exploration program.