Altamira Gold drills one g/t gold over 146 metres at Maria Bonita, Cajueiro Project, Brazil
Altamira Gold Corp. [TSXV-ALTA; OTC Pink: EQTRF; FSE-T6UP] reported results of 12 additional drill holes at the Maria Bonita gold discovery at the Cajueiro Project, Brazil.
Highlights: MBA029 returned 146 metres of 1.0 g/t gold from 23 metres depth in hydrothermally altered rhyolite intrusive rocks. This interval is part of a wider zone of mineralization with the entire hole returning 213 metres of 0.8 g/t gold and terminating in mineralization, indicating the mineralized body remains open at depth.
As with previous drill intercepts, the gold values in MBA029 are remarkably consistent with a peak value of 2.4 g/t gold. The collar of drill hole MBA029 is located 85 metres south-east of the original discovery holes and extends the known mineralization both to the north, south and to depth.
Other significant drill results include MBA016 that returned 90 metres of 0.6 g/t Au from 14m and 65 m of 0.4 g/t from 118m. MBA018: 105 m of 0.5g/t Au from 23m and 24 m of 0.4 g/t Au from 144m. MBA020: 72 m of 0.4 g/t Au from 59m. MBA022: 53 m of 0.7 g/t Au from surface. MBA025: 26 m of 0.5 g/t Au from 68m and 40 m of 0.5g/t Au from 118m. MBA027: 41 m of 0.4g/t Au from surface.
CEO Mike Bennett commented; “This result is by far the best drill intercept to date at Maria Bonita and confirms the depth continuity and pervasive style of the mineralization. We have more than doubled the previous best depth extent to mineralization. Maria Bonita is a ‘blind’ discovery with no outcrop, and we are extremely encouraged to have now identified extensions to the core mineralized zone which gives us further drill targets to pursue.”
The Cajueiro project is located approximately 75km NW of the town of Alta Floresta in the state of Mato Grosso in central western Brazil and is easily accessible by road and has grid power and local water supply.
Cajueiro is the most advanced of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena.
The Cajueiro project has current NI 43-101 resources of 5.66Mt at 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt at 1.26 g/t gold for a total of 515,000 oz in the Inferred Resource category (estimated using a gold price of US$1,500/oz). Included in these totals are near-surface oxide portions of the Cajueiro resource, containing an estimated 75koz of gold.
The Maria Bonita target is located 7km west of the Cajueiro mineral resource and is easily accessible by road. The current drill program is follow-up to the initial round of discovery drillholes which include 69 m of 1g/t gold (MBA005), 50 m of 1.1 g/t gold (MBA004), 55 m of 1.0 g/t gold (MBA002), 50 m of 1.0 g/t gold (MBA001) and 45 m of 1.4 g/t gold (MBA003) – all from surface.
This second drill program was planned to determine the limits to the known bedrock gold mineralization at Maria Bonita. To date, in the current program, 19 diamond core drillholes have been completed for a total of 3,304 metres.
The drill program was designed to step out from the original discovery area using the soil and auger data as a guide to bedrock gold distribution.
The drill data show a general positive correlation between quartz vein intensity and gold in the rhyolite intrusive; however, overlapping chlorite and sericite rich alteration events also influence gold content.
Most drillholes intersected highly anomalous and relatively consistent gold over very thick intervals. Typically, these values were in the range 0.3 – 0.5 g/t Au over 50-100m with the central zone containing consistent grades around 1 g/t Au.
The current drill results have successfully identified a broader and deeper mineralized zone than previously recognized from the initial round of drilling. The mineralization has been confirmed to have a three-dimensional form and to extend from surface to at least 213m downhole (174m below surface). Further drilling is now planned, using a rig on site, to further test the recent higher-grade and deeper discovery in hole MBA029 plus the zones of shallow mineralization that remain open such as that in hole MBA022.
The company is focused on the exploration and development of gold and copper projects within western central Brazil. The Company holds 6 projects comprising approximately 190,000 hectares, within the prolific Juruena gold belt.
The company’s advanced Cajueiro project has NI 43-101 resources of 5.66Mt at 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt at 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category.