Altamira Gold Corp has announced results of the first two diamond drill holes at the Mutum target within the company’s Apiacas project in Brazil, which confirmed the presence of a broad zone of disseminated gold within altered intrusive rocks.
Altamira said drill hole DDMUT-0001 returned 131.75 metres (m) of 0.2 grams per tonne gold, indicating the potential for significant volumes of primary gold mineralization within the project area.
“Although the average grade encountered in the first drill hole is subeconomic, permitting considerations meant that we were only able to commence drilling on the periphery of the target area at Mutum,” Altamira Gold CEO Michael Bennett said in a statement.
READ: Altamira Gold intersects multiple zones of disseminated sulphide mineralization at the Mutum target on Apiacas project
“The new environmental permits now doubles the area of the central portion of the Mutum target that Altamira can now drill test,” Bennett added.
The company noted two new environmental permits totaling 110 hectares have been received to allow drill access to additional areas of the central zone of the former Mutum alluvial workings, which extend over an east-west distance of six kilometres.
As well, Altamira said a second diamond drill rig has been contracted to begin a maiden drill program at the Santa Helena project in Brazil, with an initial 2000m of diamond drilling planned to test both high-grade gold and copper vein mineralization and possible porphyry targets.
Drilling at Santa Helena is expected to begin in November 2021.
Altamira Gold is focused on the exploration and development of gold projects within western central Brazil. It holds eight projects comprising about 190,000 hectares within the prolific Juruena gold belt, which historically produced an estimated 7 million to 10 million ounces of placer gold.
Contact Sean at sean@proactiveinvestors.com