Altamira Gold (TSX-V:ALTA) is progressing additional drilling within the Cajueiro Project in Brazil, after receiving assays from the first deep drillhole conducted at the Maria Bonita target.
Ongoing drilling is directed at 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.
Hole MBA032 returned 395.5m @ 0.4 grams per tonne gold from 44.5m.
Altamira says the interpretation of the drill results is ongoing to better guide a second deep drillhole, currently underway, collared 100m to the east of the first hole. The second hole is directed at the southeast plunge continuation of the core of the mineral resource.
CEO Mike Bennett says the first hole at Maria Bonita has shown that the quartz porphyry intrusion is mineralised throughout.
“Results from MBA032 indicate that the mineralised system is considerably larger than previously thought, which has important implications for growing the resource base,” Bennett says.
“The very consistent grade of the quartz porphyry at Maria Bonita, together with indications of a higher grade core averaging plus 1g/t gold, and the significant size of the mineralised system, all suggest the possibility of a considerably larger mineralised system than previously envisaged.
“Additional drilling is currently in progress aimed at further defining the down-plunge extension of the higher grade core to the deposit that sub-crops in the area of the initial drilling and was intersected by drillhole MBA029 which returned 146m @ 1g/t gold from 23m depth.”
Maria Bonita has an indicated resource of 24.19 million tonnes @ 0.46g/t gold and an inferred resource of 25.64 million tonnes @ 0.44g/t gold for 362,400 ounces.
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
