Altamira Gold expands drilling at Maria Bonita target, confirms large mineralized system

Altamira Gold (TSX-V: ALTA) reports 395.5m @ 0.4g/t gold at its Maria Bonita target in Brazil, confirming a much larger mineralized system and launching further drilling at the Cajueiro Project.

Altamira Gold Corp. (TSX-V: ALTA) has reported assay results from the first deep drillhole at the Maria Bonita target within its Cajueiro Gold Project in Mato Grosso, Brazil, confirming extensive gold mineralization and prompting expanded drilling to test for further extensions.

The first deep hole, MBA032, returned 395.5 metres at 0.4 grams per tonne (g/t) gold from 44.5 metres, demonstrating that the quartz porphyry intrusion hosting the system is mineralized throughout.

“Results from MBA032 indicate that the mineralised system is considerably larger than previously thought, which has important implications for growing the resource base,” said CEO Mike Bennett.
“The consistent grade and indications of a higher-grade core averaging above 1g/t gold suggest a much larger mineralized footprint than earlier envisaged.”

A second deep drillhole, collared 100 metres east of MBA032, is now underway to test the southeast plunge continuation of the core mineralized zone. This follows up on earlier results from MBA029, which intersected 146 metres at 1g/t gold from 23 metres depth.

Altamira is targeting extensions to the existing mineral resource, which currently stands at 24.19 million tonnes at 0.46g/t gold (indicated) and 25.64 million tonnes at 0.44g/t gold (inferred), for a combined 362,400 ounces of gold at Maria Bonita.

The company said ongoing drilling will aim to define the depth extent of the system and evaluate satellite targets within the wider Cajueiro Project, which covers a 28,557-hectare area of the Juruena-Teles Pires Gold Province.

Altamira Gold is a gold exploration and development company focused on western-central Brazil, with a portfolio of five projects spanning more than 100,000 hectares across highly prospective terrains.