Altamira Gold Confirms Porphyry-Style Mineralization in First Three Drillholes at the Santa Helena Project
Altamira Gold Confirms Porphyry-Style
Mineralization in First Three Drillholes at the
Santa Helena Project
Vancouver, British Columbia--(Newsfile Corp. - February 2, 2022) -
Altamira Gold Corp. (TSXV:
ALTA) (FSE: T6UP) (OTC PINK: EQTRF)
("
Altamira
" or the "
Company
") is pleased to announce that
its first three diamond drillholes have intersected porphyry style alteration and mineralization at the Santa
Helena porphyry copper-gold project in Mato Grosso State, Northern Brazil. Core samples are being
prepared and will be dispatched during February to the SGS Laboratory in Belo Horizonte for assay.
Highlights:
The initial three drillholes at the Gabriel target at Santa Helena have confirmed the occurrence of
alteration and mineralization typical of porphyry copper systems at depth
Geological consultants, Dr. Alan Wilson and Darren Jones MSc, both with extensive Latin
American porphyry exploration experience, have confirmed their view that the intersections in the
initial three drill holes show alteration typical of porphyry systems
Confirmation of the prospectivity of the belt for the preservation of Proterozoic porphyry copper
deposits provides Altamira Gold with an exciting new target style in addition to the high-grade gold
and base metal veins already identified
CEO Mike Bennett commented; "The identification of compelling evidence of porphyry-style alteration at
depth at Santa Helena is extremely encouraging so early in the drill program, and with a 28 square
kilometer area of known surface copper and gold mineralization, we now need to use geophysical
exploration techniques over this area to help identify the best drill targets for the second phase of drilling.
This new porphyry discovery by Altamira is only 60 kilometers to the south-west of the Jaca Porphyry
Copper discovery by Anglo American in 2017 and we are extremely excited for both the copper and gold
potential within our extensive Santa Helena Project."
SANTA HELENA PROJECT
The Santa Helena project is located immediately adjacent to the paved BR-163 federal highway in the
state of Mato Grosso and 60km SW of the Jaca porphyry copper deposit which was recently discovered
by Anglo American Corporation (Figure 1).
Figure 1: Location of the Santa Helena, Apiacas and Cajueiro projects. Drilling is now in progress at
Apiacas (Mutum target) and Santa Helena.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4500/112481_c35c2c2964517b07_001full.jpg
Structural interpretation on a regional scale has shown the proximity of both the Jaca porphyry copper
deposit and the Santa Helena porphyry system to the structural break marked as Santa Helena Shear
zone shown in Figure 2.
Previous artisanal mining activity has focused on high-grade gold hosted in vein structures. However,
mapping, soil and rock chip sampling by Altamira has identified both extensions to the known vein gold
targets plus significant copper, molybdenum and gold anomalies in soils related to areas of porphyry-
style alteration in a zone which extends 7km E-W by 4 km N-S, indicating the presence of a very large
hydrothermal system (Figure 3).
Figure 2: Structural interpretation of the setting of the Santa Helena porphyry target in relation to the
Anglo American Jaca porphyry project 60km to the NE.
To view an enhanced version of Figure 2, please visit:
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The area consists of undulating farmland with generally poor outcrop and saprolite weathering up to 57m
deep as shown in drillhole DDSTH-02.
Figure 3: Main targets within the Santa Helena project. Note the widely distributed historic pits on high-
grade gold occurrences. Drilling has been conducted at the Gabriel pit, outside the main copper in soil
anomaly.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4500/112481_c35c2c2964517b07_003full.jpg
Three angled diamond drill holes, up to 340m deep have thus far been completed around the Gabriel pit.
These holes targeted a strong IP chargeability anomaly and stockwork mineralization mapped and
sampled on surface in the southern wall of the Gabriel pit (Figure 4).
Figure 4: IP chargeability map of the Gabriel pit area at Santa Helena - note the presence of a strong
chargeability anomaly extending SE and away from stockwork quartz veining on surface within the
Gabriel Pit.
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/4500/112481_c35c2c2964517b07_004full.jpg
All of the initial three drillholes intersected strong porphyry-style alteration associated with variable
quantities of disseminated sulphides (Figures 5,6,7,8 and 9). Analytical results are pending.
Figure 5: Altered and brecciated "green rock" (epidotization and chloritization) with pyrite veinlets:
DDSTH-0001 143.9m.
To view an enhanced version of Figure 5, please visit:
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Figure 6: Veined, altered and brecciated "red rock" typical of alkaline porphyry environments: DDSTH-
0002, 155m.
To view an enhanced version of Figure 6, please visit:
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Figure 7: Veined, altered and brecciated "red rock" typical of alkaline porphyry environments: DDSTH-
0003, 152.5m.
To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/4500/112481_c35c2c2964517b07_007full.jpg
Figure 8: Quartz vein with pyrite and molybdenite with porphyritic aplite in syenite DDSTH03; 110m.
To view an enhanced version of Figure 8, please visit:
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Figure 9: Altered and veined "red rock" intrusive: DDSTH-0001, 146m.
To view an enhanced version of Figure 9, please visit:
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Consulting geologist and porphyry expert, Dr. Alan Wilson was engaged to review all of the core
photographs and exploration data. He commented; "A review of selected core photos from three holes
recently completed at Santa Helena clearly shows vein types and alteration assemblages which are
typical of those found in porphyry copper-gold systems globally and share many features of silica-
saturated alkalic porphyry systems, namely:
Sheeted to stockwork quartz ±carbonate veins with pyrite ±chalcopyrite mineral assemblages
Aplite dykes associated with thick quartz veins and coarse grained pyrite and molybdenite
Late-stage epidote-calcite veining with associated hematite (red rock) alteration
Spatial association of quartz veining with pink, K-feldspar-rich (alteration, magmatic or both), pink
to red (hematite-altered "red rock") granitic intrusions"
Altamira is planning drone magnetometer surveys and IP surveys to optimise initial drill tests of the
coherent copper-in-soil anomaly measuring 1000m by 1,200m to the north-east of the initial drilling area.
Due to the very deep weathering profile, preservation of copper in soil at surface is a very positive
indicator of mineralization at depth.
Altamira is now in the process of accelerating geophysical surveys in order to site drillholes over the
copper anomaly outlined in soil sampling.
APIACAS PROJECT
Diamond drilling and soil sampling are also in progress at the Mutum target within the Apiacas Project
area. A total of nine holes have been completed to date with results pending on seven holes.
Qualified Person
Guillermo Hughes, FAIG and M AusIMM., 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 the TSX Venture Exchange nor its 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.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold projects within western central
Brazil. The Company holds 8 projects comprising approximately 190,000 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 NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz
in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000oz in the Inferred
Resource category.
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
www.altamiragold.com
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.
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