Altamira Gold (TSX-V:ALTA) has completed its first deep drillhole at the group’s Maria Bonita target in Brazil, with findings suggesting there could be a “significantly larger” intrusive system than currently envisaged.
The drillhole intersected over 500m of brecciated and highly altered porphyritic intrusive rocks from 34.3m to 534.7m depth, with quartz veinlet densities averaging roughly 4 per meter. The results remain pending.
CEO Mike Bennett says additional holes will be completed at Maria Bonita once the results have been returned from the first hole.
“In addition, the surface mapping and sample results from the untested Tavares Norte target, located 1.5km east of Maria Bonita are highly encouraging and suggest the possible presence of another porphyry system,” Bennett says.
“Initial drill testing of this target is being planned as part of the current program.”
Surface mapping and sampling at Tavares Norte suggests that the sericite alteration zone extends 1.5km further east than previously known and is connected to the Morro Verde target.
Altamira reports of 94 samples collected at Tavares Norte, 20 returned gold values above 0.1 grams per tonne gold, with a maximum value of 27.5g/t gold.
Meanwhile at Morro Verde, 62 samples were collected with 13 returning gold values above 0.1g/t gold, with a maximum value of 5.2g/t gold.
The company is now conducting a high-resolution drone magnetic survey covering a total area of 56km2. To date, 43km2 of the area has been covered. The survey will provide detailed magnetic mapping to support target definition and geological interpretation.
Altamira’s targets lie within the Cajueiro Project located in central western Brazil. The Cajueiro district consists of two independently estimated mineral resources, with the Cajueiro Centra area containing 5.66 million tonnes @ 1.02g/t 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 category.
The Maria Bonita target has an indicated resource of 24.19 million tonnes @ 0.46g/t gold for 357,800 ounces and an inferred resource of 25.64 million tonnes @ 0.44g/t gold for 362,400 ounces.
Altamira Gold is a junior mineral explorer focused on unlocking gold and copper discoveries in Brazil.
Write to Aaliyah Rogan at Mining.com.au
Images: Altamira Gold
