Altamira Gold Corp. confirms depth extent extension of Baldo East zone and identifies two new parallel structures at the Cajueiro Project, Brazil
www.altamiragold.com | TSXV: ALTA
1500 - 409 Granville Street, Vancouver, BC V6C 1T2
TEL +1 604 676 5660
Altamira Gold Corp. confirms depth extent extension of Baldo East zone and
identifies two new parallel structures at the Cajueiro Project, Brazil
November 1 , 2017 – Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (USA: EQTRF) ,
(“Altamira” or the “Company”) is pleased to provide additional results from the recent
completed drilling and ongoing trenching programs at the Baldo East and Toninho targets at the
Cajueiro project located in western Brazil. Highlights are as follows;
• Drill holes CJO -96, CJO-97 and CJO -104 were drilled under the previously untested
Baldo East zone and returned 3.6m @ 4.13g/t gold including 1.8m @ 6.19g/t from CJO-
96, 3.6m @ 3.06 g/t gold from CJO -97, and 1.5m @ 4.98g/t gold including 0.7m @
9.66g/t and 0.9m @ 3.16g/t gold from CJO-104 which was drilled below trench TCBL -
20 (6m @ 21.74g/t gold ), proving evidence that the high- grade zone cut in trenches on
surface extends to depth
• Trench TCBL-25 developed immediately south of the Baldo East zone cut three parallel
brecciated zones which closely resemble Baldo East. These zones returned 7m @ 5.53
g/t, 2m @ 8.30g/t and 2m @ 0.92 g/t gold
• at Toninho North CJO -101 intersected 0.5m @ 16.77g/t gold approximately 200m north
of the main Toninho zone
Baldo East
Trenching at the Baldo East zone, and specifically the completion of trench TCBL -23 has
extended the Baldo East zone an additional 150m to the west bringing the total strike length to in
excess of 600m. TCBL -23 was completed 130 m west of trench TCBL -20 which cut 6m @
21.74g/t gold. Results from trench TCBL -23 include 1m @ 4.17g/t gold + 1m @ 1.10g/t + 1m
@ 4.00g/t gold. The zone remains open to both the west and east with additional trench results
pending.
In addition, results were returned from drill holes CJO-96, CJO-97, CJO-99 and CJO-104. Drill
hole CJO -96 was drilled beneath trench TCBL -10 with a dip of 50o (3m @ 6.54g/t gold) and
intersected 3.6m @ 4.13g/t gold from 39.6 – 43.2m depth and 1.4m @ 1.50g/t gold from 58.0 –
59.4m depth in a hydrothermal breccia zone. Drill hole CJO-97 was drilled approximately 100m
east of CJO -96 beneath trench TCBL -13 (3m @ 5.83g/t gold) and intersected 3.6m @ 3.06g/t
gold from 38.4 – 42.0m depth and 1m @ 0.65g/t gold from 47.0 – 48m depth in the same
hydrothermal breccia zone. Drill hole CJO -99 was drilled approximately 120m east of CJO -97
beneath trench TCBL-18 (1m @ 9.15g/t gold) and intersected 0.8m @ 1.60g/t gold from 81.8 –
82.6m depth.
CJO-104 tested the down dip extent of the Baldo East zone below trench TCBL -20 (6m @
21.74g/t gold) and was drilled approximately 135m west of CJO -96, and returned 1.5m @
4.98g/t gold and 0.9m @ 3.16g/t gold . True widths cannot be determined with any certainty
owing to the lack of drill data.
These results are highly encouraging and demonstrate that the higher grade Baldo East zone is
continuous at depth between drill holes and remains both open along strike and at depth. Results
are currently pending on Trench TCBL -29 developed 220m east of the most easterly trench at
Baldo East, and TCBL-27 which is 150m west of trench TCBL-23.
Separately trench TCBL-25 was completed immediately south of, and perpendicular to the Baldo
East zone in a north -south direction commencing 150m south of Baldo East and extending to the
south for 300m. Mapping and sampling of this trench suggests the presence of at least two
additional and previously unknown structures , which are parallel to Baldo East. Results from
TCBL-25 include 7m @ 5.53g/t + 2m @ 8.30g/t + 2m @ 0.92g/t gold. The strike extent of these
structures is not cur rently known. Additional trenching is aimed at determining the strike extent
of these previously unknown structures.
Toninho
At Toninho results were obtained on three additional trenches TCBL -21, TCBL-22 and TCBL -
24 as well as five diamond drill holes CJO-100, CJO-101, CJO-102, CJO-103 and CJO-105.
Trench TCBL -24 was developed approximately 350m west of trench TCBL -14 which cut
multiple mineralized zones including 5m @ 4.35g/t, 5m @ 0.51g/t, 3m @ 0.76g/t, 1m @ 0.67g/t
and 10m @ 1.16g/t. Trench TCBL-24 returned 1m @ 0.65g/t + 5m @ 1.19 g/t + 1m @ 0.99 g/t +
1m @ 1.04 g/t gold indicating that the main Toninho zone extends to the west by at least 350m.
Drill hole CJO -100 was drilled from the north under TCBL -14 and cut 1m @ 2.30 g/t gold and
appears to have drilled sub- parallel to the main zone. Hole CJO -103 was drilled from the south
and cut two narrow intervals of 1.2m @ 0.56g/t and 1m @ 2.53g/t.
Two trenches (TCBL-21 and TCBL-22) were developed and two drill holes (CJO -101 and CJO-
102) completed immediately north of the Toninho zone in an area of hist oric garimpo workings
in an effort to check for parallel zones. Of these, the only significant results were returned from
trench TCBL-21 which returned 1m @ 4.04g/t gold and drill hole CJO -101 which returned 0.5m
@ 16.77g/t gold from a narrow structure. This may be indicative of an E -W trending high grade
zone similar to that identified at Baldo East.
Drill holes were inclined at between 45° and 50°. Core recovery for the mineralized intervals
averaged 99%. The estimate true widths of all the mineralize d intervals are approximately 90%
of the intersected width in the holes.
Mike Bennett, President & CEO commented “we are very encouraged by the recent drill results
at Cajueiro which demonstrate the continuity of higher grade mineralization at depth at Baldo
East. In addition, the identification of two high-grade structures immediately south of Baldo East
in recent trenching suggests that significant high grade mineralization is yet to be discovered at
Cajueiro”
The company follows industry standard procedures with a quality assurance/quality control
(QA/QC) program. 2 Blank, 2 duplicate and 2 standard samples were inserted in each batch of 40
samples. Sample preparation and analysis was done at SGS GEOSOL in Vespasiano, Minas
Gerais State, Brazil. Analysis is performed by fire assay with 50g fusion and Atomic Absorption
Spectroscopy.
Crepori Update and Regional Program
The Company also announces that it has now completed the program of seven diamond drill
holes at the Crepori project and results are currently pending. As a result of increased competitor
activity in the Juruena Belt, the Company has initiated an exploration program for copper . The
program initially consists of a geophysical and regional compilation stud y with further details to
be provided once this work has been completed.
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 estimate d 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 R esource 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.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
“Michael Bennett”
Michael Bennett
President & CEO
Tel: 604.676.5660
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 act ual 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.