Altamira granted extension to Porta Aberta claim where recent sampling returns values up to 242.8g/t gold on surface, Brazil
Altamira granted extension to Porta Aberta claim where
recent sampling returns values up to 242.8g/t gold on
surface, Brazil
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2018) -
Altamira Gold Corp.
(TSXV: ALTA) (FSE: T6UP) (OTC
Pink: EQTRF)
,
("
Altamira
" or the "
Company
") is pleased to announce that it has been granted a 2 year extension to the Porta
Aberta claim block which is located 13km SSW of Altamira's flagship Cajueiro project (Figure 1) located in the north of the Alta
Floresta Belt, in the state of Mato Grosso, Brazil. (
Figure 1 - Location of the Porta Aberta project in the north of the Alta Floresta
Belt
)
Figure 1 - Location of
the
Porta
Aberta
project in the north of the Alta Floresta Belt
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4500/40715_a9439daa64dfeb32_001full.jpg
Highlights are as follows: -
The Porta Aberta claim blocks amounting to 1,521ha and located 13km SSW of the Cajueiro project area have been
extended for a further two years
Recent reconnaissance work by Altamira suggests the presence of a series of high-grade veins with gold values ranging
from
0.5g/t - 242.8g/t gold
from a total of 12 surface rock samples taken within a NNW trending shear zone over a
distance of approximately 2.5km
Three of twelve samples returned values of
199.3g/t, 202.1g/t and 242.8g/t
gold
from poorly exposed NE trending veins
within weathered granitic rocks over a distance of 800m (
Figure 2 - The Porta Aberta project showing historic placer
workings and location of surface samples with gold values.
)
Figure 2 -
The P
orta
Aberta
project showing historic placer workings and location of surface samples with gold values.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4500/40715_a9439daa64dfeb32_002full.jpg
The Porta Aberta project area is characterized by extensive historic placer workings which produced an estimated 500kg of
gold and cover an area of several square kilometers.
Outcropping gold mineralization appears to be confined to a series of
quartz-sulphide veins within a NNWtrending shear zone characterized by silica-sericite-pyrite alteration which has been traced
for 2.5km and is open to the north and south. The width of the shear zone and the width and extent of individual veins within the
zone is, as yet, unknown.
Reconnaissance rock chip sampling from outcropping quartz-sulphide veins returned gold values ranging from 0.5 to 242.8g/t
gold (12 samples) with three samples returning
199.3g/t, 202.1g/t and 242.8g/t gold.
In addition to the high-grade gold values
returned from the surface sampling, elevated Ag (up to 60g/t), Zn (up to 0.13%), Pb (up to 1%) Cu (up to 0.08%) values were
also returned.
Commenting on these results, Mike Bennett, President & CEO stated "the discovery of very high-grade gold mineralization at
Porta Aberta which is located just 13km SSW of our flagship Cajueiro project, is highly significant and comes on top of recent
discoveries at Matrincha and Baldo East at Cajuiero. We are optimistic that additional surface work at Porta Aberta will allow us
to define targets ahead of drilling". (
Figure 3 - Location of the Porta Aberta project area with respect to larger Cajueiro project
area. Main targets at Cajueiro are highlighted.
)
Figure
3
- Location of
the
Porta
Aberta
project area with respect to larger Cajueiro project area. Main targets at Cajueiro are
highlighted.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4500/40715_a9439daa64dfeb32_003full.jpg
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.
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 compliant 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.
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
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
s
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.