Altamira Gold Intersects Disseminated Sulphide Mineralization in Initial Diamond Drill Holes at the Apiacas Project
Altamira Gold Intersects Disseminated
Sulphide Mineralization in Initial Diamond Drill
Holes at the Apiacas Project
Vancouver, British Columbia--(Newsfile Corp. - November 3, 2021) -
Altamira Gold Corp. (TSXV:
ALTA) (FSE: T6UP) (OTC Pink: EQTRF),
("
Altamira
" or the "
Company
") is pleased to provide an
update regarding drilling at the central part of the Mutum target area in the Apiacas Project area, which
historically produced an estimated 1 million ounces of placer gold. The project is located within the Alta
Floresta Gold Belt in Northern Mato Grosso, Brazil.
Highlights
Initial diamond drilling at the Mutum target has intersected several zones of disseminated sulphide
mineralization associated with shear zones within altered granitic rocks. Thus far, five diamond drill
holes totaling 1,003 metres have been completed within the area initially permitted for drilling
within the central part of the Mutum target, Apiacas Project
All holes have been drilled to investigate both the chargeability anomalies identified in the IP
survey completed in August 2021 and the depth extension of the surface gold mineralization seen
in channel samples and artisanal workings which include
12m @ 2.00 g/t gold
(see June 4, 2019
news release for more information)
An application has been submitted to the local environmental authority, SEMA, to expand the area
presently permitted for drilling. The expanded permit area will enable Altamira to both extend the
drilling over a further 1.3 kilometers of east-west strike length within the target area and to access
priority drill targets in areas where interpreted mineralized structures intersect
Soil sampling over three new areas covering a total of 8,000 hectares, both to the west and the
east of the Mutum target has been completed. A total of 3,724 soil samples have been collected
over three areas to date and results are expected shortly
Soil sampling, trenching and geological mapping are also being accelerated at the Santa Helena
Project to define drill targets with the objective of commencing drilling during Q1 2022
Michael Bennett, President and CEO of Altamira Gold commented "The initial diamond drill holes at
Mutum have intersected broad zones of disseminated sulphide mineralization and we look forward to
receiving the geochemical results. At the same time, the environmental applications that are in
process will more than double the available area for drill testing to the west. While diamond drilling
continues to test the Mutum target, three new target areas within the Apiacas Project have been
mapped and soil sampled and will progress to trenching and drilling in the near future. We are also
advancing drill targets at the Santa Helena project."
APIACAS PROJECT
The Mutum target is part of the Apiacas Project area, located 50km west of Altamira's Cajueiro gold
project which hosts NI 43-101 compliant indicated resources of 5.66Mt @ 1.02 g/t gold for a total of
185,000 oz and inferred resources of 12.66Mt @ 1.26 g/t gold for a total of 515,000oz (Figure 1). An
estimated 1Moz of alluvial and colluvial gold was reportedly recovered from the Mutum target, suggestive
of the presence of a significant underlying hard-rock source.
Figure 1:
Location of the three main Altamira Project areas.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4500/101832_6bbc88adc4cd3958_001full.jpg
In 2019, geological mapping outlined an area of pervasive disseminated-style gold mineralization over
at least 4 km
2
at Mutum. A total of 93 surface rock samples of disseminated and altered rocks collected
on surface over this area returned gold values of up to
406.6 g/t gold
(see news release dated
September 11, 2019). Recent exploration has also identified four high-grade vein structures with channel
samples returning values up to
3m @ 10.39 g/t gold
. Silver assays have also returned high grade
values up to
871 g/t silver
(see March 8, 2021 news release for more information). An IP survey
completed over the area in August shows extensive high chargeability anomalies over an east-west
corridor covering some 6 kilometers which is coincident with the historic alluvial and colluvial workings in
the target area (see Figure 2).
Figure 2:
Trends of high chargeability IP anomalies in the Mutum target, Apiacas project.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4500/101832_6bbc88adc4cd3958_002full.jpg
Initial diamond drilling has been limited to the areas with active drill permits covering the central one
kilometer east-west corridor within the Mutum target.
The first five diamond drill holes were drilled to
downhole depths of between 126 m and 276 metres (see Figure 3) and targeted both chargeability
anomalies and the depth extension of the surface gold mineralization indicated by both the historic
artisanal mining and the channel sample results collected by Altamira (see news releases dated June 4,
2019 and June 8, 2021). Broad zones of hydrothermal alteration, accompanied by disseminated
sulphide mineralization were logged within the granitic host rocks intersected. These alteration zones
appear to correlate with known clay alteration zones mapped within several of the artisanal placer gold
workings. Drill core samples have been submitted to the SGS laboratory in Belo Horizonte and results
are pending.
Figure 3:
Drill hole locations and environmental permit areas, Mutum target, Apiacas project.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4500/101832_6bbc88adc4cd3958_003full.jpg
In addition, soil sampling has been ongoing over three new areas both to the west and the east of the
Mutum target.
A total of 3,724 soil samples have been collected over the three areas to date and
samples have been submitted to the SGS laboratory in Belo Horizonte for both gold and multi-element
geochemical analyses.
Results are expected shortly.
SANTA HELENA PROJECT
Soil sampling, trenching and geological mapping are also being accelerated at the Santa Helena
Project to define drill targets with the objective of commencing drilling during the first quarter of 2022.
Targets comprise both discrete quartz vein structures known to host sulphide mineralization with
associated gold, which are the objective of historic and current artisanal mining operations plus base
metal soil anomalies associated with intrusives.
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/101832