Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) said it had pinpointed a new anomaly underneath a mineralized intrusive body at the Mutum target on its Apiacas project in Brazil.
The Vancouver-based company ran an induced polarization (IP) survey on the property where four lines covering the central portion of the target area revealed a consistent 500-650 metre-wide chargeability anomaly visible below a depth of 70 metres.
According to Altamira, the anomaly is open at depth and directly below the mapped and sampled mineralized intrusive that contains gold.
READ: Altamira Gold set to begin IP survey at Mutum target after receiving environmental approval from Brazilian state authorities
What’s more, resistivity data for the lines showed a “distinct” horizontal change in resistivity readings between 50-60 metres vertical depth, which Altamira interpreted as the oxide-sulphide interface between the weathered surface intrusive rock, where the pyrite has been oxidized and the fresh pyrite-bearing intrusive rock below 70 metres depth.
And two channel samples from the area returned 0.41 grams per ton (g/t) gold over 12 metres and 0.9 g/t gold over six metres.
Altamira said it expects to have all of the lines processed from the western extension of the Mutum target processed within the next two weeks ahead of a planned stage one drilling program.
Altamira CEO Michael Bennett told invsetors that the company was “extremely excited” by the initial survey results.
“The possibility of a wide sulphide-rich body underling the area mapped as a syenogranite intrusive containing disseminated pyrite and gold mineralisation on surface, is a really positive indication for the presence of deeper-seated mineralisation and demonstrates that this work will be invaluable in assisting the company in siting the initial drillholes,” Bennett said in a statement.
“The very wide, high chargeability anomalies that we have encountered at depth on the four initial IP lines are interpreted as the sulphide bearing intrusives, vertically below the areas which have been mapped on surface with disseminated sulphide and gold mineralization,” Matt Cooper, consultant to Altamira added.
Altamira’s portfolio includes eight projects spanning approximately 190,000 hectares within the prolific Juruena gold belt in Brazil, which historically produced an estimated 7 to 10 million ounces of placer gold.
Contact Angela at angela@proactiveinvestors.com
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