Altamira Gold Finds Mineralization in Brazil Gold Deposit
News related to:Altamira Gold Corp · 2 min read
Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTCQB: EQTRF), a Vancouver-based gold exploration company, has announced significant mineralization discoveries at its Maria Bonita Gold Deposit in the Cajueiro Gold District, Brazil. The company's latest drilling and trenching activities have highlighted the potential for further expansion of the current mineral resource at the site.
The recent drilling and trenching activities have identified a new porphyry body to the west of the discovery area, referred to as the Western Porphyry. The company is currently drilling to extend this body further to the west, with the objective of identifying the western limit to the Maria Bonita gold deposit.
Drill hole MBA045, located within the updated Mineral Resource footprint, intersected three mineralized zones with a combined downhole extent of 272 meters, including 87 meters at 0.4 grams per ton (g/t) gold from surface, 52 meters at 0.3 g/t gold from 155 meters downhole, and 134 meters at 0.5 g/t gold from 215 meters to the bottom of the hole at 349 meters. The hole ended in mineralization, indicating the potential for further exploration to enhance the existing gold resources through future infill drilling.
Trench TCMBA05, also located within the resource footprint, returned a broad mineralized interval of 114 meters at 0.7 g/t gold, including 36 meters at 1.3 g/t gold. This demonstrates the potential for at-or-near-surface oxide mineralization within the optimized pit outline. Results for TCMBA06, also located within the resource footprint, are pending, and additional trenching and shallow reverse circulation drilling are planned to further define the distribution and continuity of this readily accessible oxide mineralization.
Recent trenching and drilling activities have successfully identified a new porphyry body to the west of the discovery area, referred to as the Western Porphyry. The company is now drilling to extend this body further to the west, with the objective of identifying the western limit to the Maria Bonita gold deposit.
The Cajueiro district, where the Maria Bonita Gold Deposit is located, is situated approximately 75 kilometers northwest of the town of Alta Floresta in the state of Mato Grosso, Brazil. The project is easily accessible by road and lies on open farmland, with grid power and a local water supply. The Cajueiro district contains independently estimated mineral resources at Cajueiro Central and Maria Bonita, as well as eight additional exploration targets within 8 kilometers of Cajueiro Central that have yet to be drill tested.
The Maria Bonita open-pit resource consists of Indicated Resources estimated as 25 million tonnes (Mt) at 0.50 g/t (403,877 ounces) and Inferred Resources of 70 Mt at 0.41 g/t (908,477 ounces). These resources include near-surface saprolite Indicated Resources of 1.49 Mt at 0.65 g/t (30,899 ounces) and Inferred Resources of 1.42 Mt at 0.38 g/t (17,172 ounces). The resources were calculated using a cut-off of 0.24 g/t gold and a gold price of US$3,300 per ounce.
Altamira Gold Corp. is a Vancouver-based gold exploration company focused on discovering and developing gold deposits in Brazil. The company's recent discoveries at the Maria Bonita Gold Deposit highlight the potential for further expansion of the current mineral resource. The company's ongoing drilling and trenching activities are expected to provide valuable insights into the potential for future exploration and resource development at the site.