The company intends to consolidate its outstanding share capital on a 2 old for 1 new basis, subject to TSX Venture Exchange approval.
Alta Vista said there would be no change of name or symbol tied with the consolidation.
Alta Vista, in common with other explorers, identifies and acquires properties that it feels exhibit high potential, and then compiles data and performs first pass confirmatory exploration, advancing its assets – ideally to drill-ready stage. From here, it deviates from the common path of junior explorers by bringing in a partner that earns an interest in the project by providing funding for further exploration.
Earlier this month, the company said that its partner on its Carol project in Mexico, Tosca Mining, has entered into a contract with Layne De Mexico to undertake a drill program on the property. Site preparation is now underway, with drilling expected to begin by the end of April, Alta Vista said. The initial campaign, which will be the first ever drill program on the property, will consist of 5 to 7 holes, totaling 500 to 700 metres.
The property is located about 4 km from the Piedras Verdes porphyry deposit, Mexico's third largest copper producer at more than 70 million pounds per year.