Altamira Gold Corp has received assay results from the final five diamond drill holes of its initial slate at the Maria Bonita target of its Cajueiro project in Brazil.
Highlights include 69 meters (m) at 1 gram per ton (g/t) of gold in drill hole MBA005 and 71m at 0.6 g/t gold in hole MBA007. Drill holes MBA005 and MB007 extend the area with known coherent gold mineralization at least 120m to the east of the original drill holes MBA001 - MBA004, the company said.
The new mineralized system at Maria Bonita, which has remarkably consistent gold grades, remains open in several directions.
READ: Altamira Gold acquires surface rights for Maria Bonita discovery at Cajueiro gold project in Brazil
"The results from the final five reconnaissance drill holes at Maria Bonita confirm that we have discovered a significant gold mineralized system at Cajueiro which is located just 7 kilometers west of the existing resource base,” CEO Mike Bennett said in a statement.
“Whilst the mineralized system remains open in several directions, the initial drill results indicate consistent gold values over broad intervals and the size of the gold-in-soil geochemical anomaly (800 x 800m) means that additional drilling will be required to determine the size of the mineralized system."
The size of the mineralized zone at Maria Bonita remains unknown but the excellent results received from six of the initial nine reconnaissance drill holes at Maria Bonita suggest the presence of a significant discovery, the company said.
A full breakdown of the results can be found here.
The Cajueiro project is located about 75km northwest of the town of Alta Floresta in the state of Mato Grosso in central-western Brazil. Cajueiro forms one of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena.
Cajueiro has current NI 43-101 resources of 5.66 megatonnes at 1.02 g/t gold for a total of 185,000 ounces in the indicated resource category and 12.66 megatonnes at 1.26 g/t gold for a total of 515,000 ounces in the inferred resource category.
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