Altamira Gold Corp has issued an update on the copper and gold exploration program at its Santa Helena project in Mato Grosso State, Brazil.
The company announced that additional soil sampling has defined a significant second copper-in-soil anomaly at the project, as well as confirmed consistent copper values in the original soil anomaly. Both are being prepared for drill testing, the company said.
These anomalies measure 500 meters (m) by 500m and 800m by 600m, respectively, and have consistent soil values above 46 parts per million (ppm) with a peak of 448ppm.
READ: Altamira Gold says initial drill results at Apiacas in Brazil show potential for large, disseminated gold system
Both copper-in-soil anomalies have associated northeast/southwest trending gold vein occurrences on their periphery, the company said, and scout drilling of these gold vein systems has identified porphyry-style alteration and veining in wall rocks to the mineralized veins. Both molybdenite and chalcopyrite have been identified in these veins.
"The definition of a second significant copper-in-soil anomaly adjacent to our existing gold targets, and in association with porphyry-style alteration in drill core, is an exciting development and suggests that there is significant copper potential within our licenses at Santa Helena,” CEO Mike Bennett said in a statement.
“The preservation of the upper and generally higher-grade parts of such alteration systems is rare in rocks of this age. However, the thick volcanics and sedimentary cover sequences that we believe formerly covered the area, appear to have contributed to the preservation of the prospective structural level where porphyry mineralization can be found.”
Altamira said it plans to conduct drone magnetometer surveys as well as IP profiles over the defined copper-in-soil anomalies to accelerate the selection of optimal drill targets in the third quarter.
Meanwhile, results are currently pending on the 23 diamond-drill holes which have recently tested a number of the gold targets peripheral to the copper-in-soil anomalies. Results will be released once received from the laboratory, the company said.
Altamira Gold is focused on the exploration and development of gold projects within western central Brazil. It holds 8 projects comprising spanning 190,000 hectares, within the prolific Juruena gold belt.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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