Altamira Gold (TSX-V:ALTA) has received an environmental installation licence for trial mining from the Pará State Secretariat of Environment, Climate and Sustainability for the Cajueiro Project in central Brazil.
The process within the two trial mining permits, covering the northern part of the Central Resource Area, is valid for two years until 22 September 2027.
Altamira Gold says the licence allows for the company to construct a plant which would initially process up to 100,000 tonnes of material per year across two mineral rights.
CEO Mike Bennett says while no decision has been made to proceed with trial mining, the permit creates a pathway to such activities in the future.
“Trial mining could potentially provide near-term cashflow, generate valuable geological information, and improve our understanding of the gold mineralisation at the Cajueiro Central deposit,” Bennett says.
“We believe this could help identify additional gold-bearing structures and further demonstrate the long-term potential of the project.”
Trial mining could potentially generate near-term cashflow, provide greater insight into the structural controls on gold mineralisation and help refine the understanding of the deposit through processing and reconciliation of mined material.
The Cajueiro Central area has a current open pit resource of 5.66 million tonnes @ 1.02 grams per tonne gold for 185,000 ounces in the indicated category and 12.66 million tonnes @ 1.26 g/t gold for a total of 515,000 ounces in the inferred category.
Altamira Gold is focused on exploring and developing gold and copper projects within western central Brazil.
Write to Aaliyah Rogan at Mining.com.au
Images: Altamira Gold
