Altamira Gold Corp. (TSX-V:ALTA, OTC:EQTRF) said drilling at the Maria Bonita target on the Cajueiro gold project in Brazil continues to expand the discovery.
The company said a recently completed deep motorized auger drilling program over the Maria Bonita discovery has extended the footprint of the gold mineralization in weathered bedrock to the north, east, and west of the mineralized area defined by earlier exploration.
A total of 47 auger holes were completed comprising an aggregate of 430 metres.
From the samples, 266 samples or 62% of the sample population returned greater than 0.5 grams per ton of gold and 39 auger holes or 83% of the total holes drilled returned gold mineralization greater than 0.5 grams per ton.
"These very positive results confirm that contiguous gold mineralization is present in the saprolite (weathered bedrock) over a significantly wider area than that established by our initial diamond drilling,” commented Altamira Gold CEO Mike Bennett.
“These new data suggest that the axis of the stockwork mineralization in the bedrock has an east-southeast orientation, dipping below a later inferred dyke to the east and remaining open to the west.”
Bennett highlighted because the gold mineralization at Maria Bonita is present at the surface with no cover rocks, that auger drilling has provided quick and low-cost data on the near-surface distribution of gold which can be used for future resource estimates.
“These new data support our interpretation of a significant new disseminated gold discovery in intrusive rocks and will assist us in designing a forthcoming second-phase diamond drill program,” he said in a statement.
Altamira Gold is focused on the exploration and development of gold projects within western central Brazil.
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