Altamira Gold Identifies Second Significant Copper Anomaly at the Santa Helena Project
Altamira Gold Identifies Second Significant
Copper Anomaly at the Santa Helena Project
Vancouver, British Columbia--(Newsfile Corp. - July 20, 2022) -
Altamira Gold Corp. (TSXV: ALTA)
(FSE: T6UP) (OTC PINK: EQTRF),
("
Altamira
" or the "
Company
") is pleased to provide an update
on its ongoing exploration programme for copper and gold at the Santa Helena project in Mato Grosso
State, Northern Brazil.
Highlights:
Additional soil sampling in the Santa Helena project has defined a significant second copper-in-
soil anomaly and also confirmed consistent copper values in the original soil anomaly. Both are
being prepared for drill testing
These anomalies measure 500 by 500m and 800 by 600m respectively and have consistent soil
values above 46ppm with a peak of 448ppm
Both copper-in-soil anomalies have associated NE/SW trending gold vein occurrences on their
periphery. Scout drilling of these gold vein systems has identified porphyry-style alteration and
veining in wall-rocks to the mineralized veins. Both molybdenite and chalcopyrite have been
identified in these veins
Confirmation of the prospectivity of the Santa Helena project for the preservation of proterozoic
porphyry-style mineralization provides Altamira Gold with an exciting new target in addition to the
high-grade gold and base metal veins already identified
CEO Mike Bennett commented; "The definition of a second significant copper-in-soil anomaly
adjacent to our existing gold targets, and in association with porphyry-style alteration in drill core, is an
exciting development and suggests that there is significant copper potential within our licenses at
Santa Helena. The preservation of the upper and generally higher-grade parts of such alteration
systems is rare in rocks of this age. However, the thick volcanics and sedimentary cover sequences
that we believe formerly covered the area, appear to have contributed to the preservation of the
prospective structural level where porphyry mineralization can be found. We look forward to drill
testing these targets in a cost effective and speedy manner whilst we wait for drill results on a number
of the peripheral gold targets".
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.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4500/131365_07b6b2f9b444caa9_001full.jpg
There is no history of copper production in the Santa Helena area and previous artisanal mining activity
has focused on high-grade gold, hosted in vein structures.
The regional geology (Figure 2) indicates a genetic link between the Teles Pires intrusives and the
Colider Formation volcanics, which is supported by regional scale geochemistry and geochronology with
both units ranging in age from 1806-1757Ma. The Colider Fm consists of lavas and pyroclastic flows
with inferred volcanic dome structures. The Teles Pires intrusives consist of alkali-feldspar granites and
syenogranites and are interpreted to be the main host to porphyry-style intrusions in the Santa Helena
area. Younger (ca.1400Ma) sedimentary cover of conglomerates and arenites formerly overlay this
basement. This cover, which is now reflected as remnant outliers, may have aided the preservation of
porphyry alteration zones within the basement.
In a similar manner to the Jaca porphyry district (60km NE), anomalous copper occurrences at Santa
Helena have associated peripheral gold occurrences. Mapping, soil and rock chip sampling by Altamira
has previously 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. Pervasive
"red rock" alteration of the host intrusive rocks is found in many of the holes drilled to date.
Figure 2: Structural interpretation of the setting of the Santa Helena porphyry target in relation to the Jaca
porphyry project 60km to the NE.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4500/131365_07b6b2f9b444caa9_002full.jpg
Recent soil sampling at Santa Helena has identified a second significant copper-in-soil anomaly 3km
SW of the initial copper anomaly (Figure 3). This second anomaly measures 500 x 500m and is
characterised by copper values in soils above 46ppm with maximum values of 154 ppm . The original
copper-in-soil anomaly measures 800 x 600m. Neither anomaly has been tested to date but recent
drilling on some of the peripheral gold occurrences has identified porphyry-style alteration and veining.
Figure 3: Main targets within the Santa Helena project showing the widely distributed high-grade gold
occurrences. Drilling has been conducted at the main gold occurrences which are peripheral to the two
main copper-in-soil anomalies.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/4500/131365_07b6b2f9b444caa9_003full.jpg
Figure 4: Detail of soil sample results for copper, showing the original soil anomaly (NE) and the newly
defined anomaly (SW), broadly aligned along a NE-SW trend.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/4500/131365_07b6b2f9b444caa9_004full.jpg
At least three different generations of veining have been observed in drill core (Figure 5), indicating an
alteration system that was reactivated in different temperature regimes, currently interpreted as reflecting
the distal part of a cooling hydrothermal system associated with a local (porphyry) intrusion.
Figure 5: Drill core from hole STH0023 showing reactivation of vein structures.
A:
intensive potassic
alteration of syenite with a chlorite (black) vein reactivated and filled by i) sericite (light grey) and ii)
quartz/carbonate.
B:
chlorite/magnetite vein reactivated and filled by quartz/carbonate.
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/4500/131365_07b6b2f9b444caa9_005full.jpg
Altamira plans to conduct drone magnetometer surveys plus IP profiles over the defined copper-in-soil
anomalies to accelerate the selection of optimal drill targets in Q3 2022.
Results are currently pending on the 23 diamond-drill holes which have recently tested a number of the
peripheral gold targets peripheral to the copper-in-soil anomalies. Results will be released once
received from the laboratory.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/131365