Altamira hires Global Resource Engineering to Update 43-101 Resource Estimate for Cajueiro gold project, Brazil
Altamira hires Global Resource Engineering to Update
43-101 Resource Estimate for Cajueiro gold project,
Brazil
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2019) -
Altamira Gold Corp.'s (TSXV: ALTA) (FSE: T6UP) (OTC
Pink: EQTRF)
("
Altamira
" or the "
Company
") is pleased to announce that it has hired Global Resource Engineering Ltd.
("GRE") to complete an updated resource estimate for the Cajueiro gold project located in the northern part of Mato Grosso
state in western Brazil.
The Cajueiro project is currently Altamira's key project and comprises 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.
These resources were calculated by Gustavson and Associates in May 2016 and are based on 10,282m of drilling and 48 drill
holes.
Since May of 2016, the Company has drilled an additional 49 diamond drill holes totaling 3,154m and completed 25 surface
trenches totaling 4,063m. This work was largely focused on the Baldo East area which is located 500m due east of the existing
Baldo resource (see Figure 1) and has resulted in the discovery of several parallel high-grade structures (see press releases
dated 1
st
November 2017, 18
th
January 2018 and 17
th
July 2018). All of the data collected since May 2016 will be included in
the revised resource estimate which is expected within the next 45 days.
The current resources are included within an area of approximately 275ha. The overall size of the Cajueiro claim block is
39,053ha, and a number of very large gold-in-soil anomalies which are associated with historic placer gold workings, remain
untested.
Figure 1 - Map showing central part of Cajuiero claim block with significant gold-in-soil geochemical anomalies and historic
placer workings plus area of current resources and recent discoveries at Baldo East
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4500/46304_41e2ded264a6a94b_001full.jpg
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold projects within western central Brazil. The Company holds
11 projects comprising approximately 300,000 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
Neither 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.
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/46304