Altamira Gold (TSX-V:ALTA) has mobilised a second diamond drill rig within the Cajueiro gold district in Brazil, which will focus on the central resource area and several porphyry targets defined in the last 12 months.
Drilling will aim to expand the known indicated and inferred resource within the central resource area and in particular the down-dip extensions of higher grade zones.
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 @ 1.26g/t gold for 515,000 ounces in the inferred resource.
CEO Mike Bennett says with one rig currently drilling at Maria Bonita and the second moving to the central resource and nearby porphyry targets, the company is doubling its current drill rate.
“This approach allows us to build on the strong results at Maria Bonita, while aggressively testing the broader district potential,” Bennett says.
“We now know that at least one new gold porphyry centre exists in Tavares Norte, and we believe several other gold bearing porphyry centres could prove to be the sources of the alluvial gold worked historically from the streams within the 15km east-west corridor in the centre of the district.”
As Mining.com.au previously reported, Altamira is focusing on enlarging Cajueiro’s mineral resource footprint and defining its depth extent. The company is drill testing for potential extensions to the existing resource, including its depth extent and new satellite targets.
Altamira Gold is an explorer and developer focused on gold within western central Brazil. The company owns five projects spanning over 100,000 hectares.
Write to Aaliyah Rogan at Mining.com.au
Images: Altamira Gold
