Altamira Completes New Trenching Program at Baldo and Matrincha Targets in the Cajueiro Project, Brazil
Altamira Completes New Trenching Program at Baldo
and Matrincha Targets in the Cajueiro Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2018) -
Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink:
EQTRF)
,
("
Altamira
" or the "
Company
") is pleased to announce that it has completed the first phase of the 2018 trenching
campaign in the Baldo target area within the Cajueiro project located in the north of the Alta Floresta Belt, in the states of Mato
Grosso and Para, Brazil. Seven new trenches were excavated in the Baldo and Matrincha target areas covering a total strike
length of 1,218 meters. Three of the trenches were excavated to investigate the eastern extensions of both the Baldo 1 and
Baldo 2 mineralized structures in the northern part of the Baldo target and a further three were excavated in the southern part of
the Baldo target to investigate the source of high-grade gold in grab samples.
The final trench was excavated in the adjacent
Matrincha target to the south of the Baldo area.
Highlights are as follows:
Trench TCBL 32 was excavated along the eastern extension of the Baldo 1 structure, some 200 meters east of trench
TCBL- 29 which returned
10m @ 1.82 g/t gold
and
7m @ 1.79 g/t gold
including 1m @ 7.23 g/t gold
.
Trenches TCBL-30 and TCBL-31 were excavated on the eastern extension of the Baldo 2 structure some 200 meters and
400 meters, respectively east of trench TCBL-28, which returned
29m @
3.03 g/t gold
including
7m @ 5.42 g/t gold
and
4m @ 8.07 g/t gold
.
Three trenches, TCBL-33, TCBL-34 and TCBL-36 were excavated in the southern part of the Baldo target to investigate
grab samples taken previously in the area in 2011-2012, which had returned values of 92.10 g/t Au and 44.45 g/ t Au. The
three trenches cover an east-west strike extension of approximately 450 meters where there is no outcrop.
Trench TCBL-37 was excavated on the western side of the Matrincha target, adjacent to and south of the Baldo target
area.
All trenches have now been mapped and sampled and samples have been dispatched to the SGS laboratory in Belo Horizonte
for analysis.
Map Showing Trenching progress in the Baldo and Matrincha target areas.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4500/36008_enhance1.jpg
Cajueiro project map showing the extent of the gold-in-soil anomalies in relation to the areas drilled to date
.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4500/36008_altamira enhance2.jpg
Michael Bennett, President and CEO of Altamira stated, "The recent trenching program carried out in the Baldo and Matrincha
targets in the first half of 2018, covers less than ten percent of the area covered by the gold-in-soil anomalies within the Cajueiro
project area.
We are extremely encouraged by the exploration progress to date where trenching shows that the gold
mineralization is controlled by both the east-west and northeast-southwest structural directions."
Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by
FAA525. Copper and molybdenum analysis has been conducted by SGS method ICP40B (multiacid digestion). Analytical
quality is monitored by certified references and blanks. Until dispatch, samples are stored in the Company's supervised
exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps and rejects are
returned to the Company and archived. Channel sampling is conducted using a hand-trenching tool over exposed faces to
maintain a consistent sample. Drilling results are reported as down-hole length weighted intersections. Channel sampling is
conducted across the strike of the veins and are quoted as true widths.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold deposits within western central Brazil. The Company holds
12 projects comprising approximately 200,000 hectares, within the prolific Juruena gold belt which historically produced an
estimated 7 to 10Moz of placer gold. The Company's advanced Cajueiro project has an NI 43-101 resources of 8.64Mt @ 0.78
g/t Au (for 214,000oz) in the Indicated Resource category and 9.53Mt @ 0.66 g/t Au (for 204,000oz) in the Inferred Resource
category and an additional 1.37Mt @ 1.61 g/t Au in oxides (for 79,000oz in saprolite) in the Inferred Resource category
(Gustavson Associates, 2016).
On Behalf of the Board of Directors,
ALTAMIRA GOLD
CORP.
"Michael Bennett
"
Michael Bennett
President & CEO
Tel: 604.676.5660
Toll Free: 1.833.606.6271
Guillermo Hughes
, P. Geo., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-
101, supervised the preparation of the technical information in this news release.
Neither TSX Venture Exchange nor it Regulation Services Provider (as that term is defined in the policies
of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements in this document which are not purely historical are forward-looking statements, including any statements
regarding beliefs, plans, expectations or intentions regarding the future. It is important to note
that actual outcomes and the
Company's actual results could differ materially from those in such forward-looking statements.
Except as required by law, we
do not undertake to update these forward
-
looking statements.