Altamira Gold Corp. (TSX-V:ALTA, OTC:EQTRF) reported it has begun drilling at the untested Maria Bonita target, which sits 7 kilometres (km) north-west of the Cajueiro gold deposit at its Cajueiro project in Brazil.
The target features a large gold-in-soil anomaly which is at least 800 metres (m) by 800m in size with several gold values in soils up to 1 gram per ton (g/t) gold and an initial program of six diamond drill holes is planned.
In the statement, Altamira also provided the results from the first hole of a recently completed seven-hole diamond drill program at the Baldo East zone at the project.
"We are excited to be drilling an untested target within the Cajueiro project. The gold-in-soil anomaly at Maria Bonita is by far the strongest and most consistent gold-in-soil anomaly we have identified to date in the Cajueiro area," said Mike Bennett, the CEO of the company.
"The recent identification of highly brecciated and altered float material on surface suggests the presence of an underlying hydrothermal system, and we look forward to the results of this first phase drill program," he added.
READ: Altamira Gold says soil sampling revealed a second copper-in-soil anomaly at its Santa Helena project in Brazil
"Furthermore, the initial results of the recently completed diamond drill program at Baldo East are encouraging and demonstrate the down-dip extension of surface mineralization, suggesting the potential to add additional resource ounces in this section of the Cajueiro deposit."
The drilling at the Baldo target was aimed at proving extensions to several mineralized structures within the target which form part of the current Cajueiro mineral resource.
And the first hole returned 4m at a grade of 4.76g/t gold from 79m depth, below a trench intercept of 7m at 5.54 g/t of the yellow metal.
"This result is a positive indication of continuity of gold mineralization in the structure mapped on surface. The assay results for the remaining six drillholes at Baldo East are expected in the coming weeks," said the company.
Also in the statement, Altamira noted that 23 diamond drill holes, for 3,631.9m have been completed at the Santa Helena project in northern Brazil,
Drilling has largely focused on vein-style gold (copper) occurrences associated with historic garimpo workings.
Altamira holds eight projects comprising around 190,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10 million ounces (Moz) of placer gold.
Its advanced Cajueiro project has NI 43-101 resources of 5.66Mt at 1.02 g/t gold for a total of 185,000 ounces (oz) in the higher confidence indicated category and 12.66Mt at 1.26 g/t gold for 515,000oz in the inferred.
Contact the writer at giles@proactiveinvestors.com