Altamira Gold (TSX-V:ALTA) has intersected gold mineralisation within a second new porphyry body at the Morro Verde target within the Cajueiro District area of Brazil.
Reconnaissance drill testing of a gold-in-soil anomaly associated with broad sericite alteration at the Morro Verde target was undertaken. Drilling intersected a new zone of gold mineralisation associated with an altered quartz porphyry intrusive.
The host rocks are similar to those at the Maria Bonita mineral resource, as well as the more recently discovered mineralisation at the Tavares Norte prospect, located 1.5km west of Morro Verde.
Altamira now has two drill rigs operating at Cajueiro extending the current mineral resources at the Maria Bonita and Central resources. Further drilling is planned at Morro Verde and Tavares Norte to further delineate these respective porphyry systems and test for the continuity of the mineralized zones in MRV003 and TVN002.
Drillhole MRV003 has returned 8m @ 3.5 grams per tonne gold from 176m, including 1m @ 15.4g/t gold. Altamira Gold says this result indicates potential for higher grade mineralisation.
CEO Mike Bennett says the company now has drill intercepts in two separate gold-mineralised porphyry intrusives over an east-west distance of 6.5km from the Maria Bonita resource.
“Scout drilling has now intersected mineralised intrusives at the first two of our eight district targets,” Bennett says.
“The grade in the Morro Verde intercept is particularly encouraging as it confirms the potential to find mineralisation with a combination of grades and widths that could have economic potential for both open-pit and underground mining operations.”
A second drill rig is now operating at the Cajueiro resource to test extensions of known gold bearing structures and complete infill holes within the resource area.
Further drilling is planned at Morro Verde and Tavares Norte to further delineate the porphyry systems and test for the continuity of the mineralised zones in two holes.
Altamira Gold is an explorer and developer focused on gold discoveries in Brazil. The Cajueiro district is located 75km northwest of the town of Alta Floresta in the state of Mato Grosso. The project is accessible by road, lies on open farmland and has grid power and a local water supply.
Cajueiro is considered the most advanced of the key projects that Altamira controls in the region.
The Maria Bonita open-pit resource consists of indicated resources of 24.19Mt @ 0.46g/t gold (for a total of 357,800oz) and inferred resources of 25.64Mt @ 0.44g/t gold (for a total of 362,400oz).
The Maria Bonita porphyry gold deposit forms part of a district-scale portfolio of prospects that are interpreted as having a similar geological origin. The Cajueiro area is characterised by a 15km stretch of former alluvial gold workings along the Teles Pires river.
Altamira says the source of some of this alluvial gold is related to a pronounced east-west corridor of gold anomalies in soils and rock chips and a set of sub-cropping intrusions extending east-west over 8km, implying the presence of a long-standing and deep-seated crustal structure.
Write to Aaliyah Rogan at Mining.com.au
Images: Altamira Gold
