Altamira Gold Corp announced that it has received assay results from the first two diamond drill holes completed at the previously-untested Maria Bonita target, which forms part of its Cajueiro project in Brazil.
The gold projects explorer and developer said the first two diamond drill holes returned 50 metres (m) of 1 gram per tonne (g/t) gold and 55m of 1 g/t gold, respectively.
“The intense quartz stockwork veining observed in the first two holes is unlike any other style of mineralization thus far encountered in the Cajueiro area,” Altamira Gold CEO Mike Bennett said in a statement.
READ: Altamira Gold starts drilling at untested Maria Bonita target at Cajueiro project in Brazil
“This style of gold mineralization, together with the size of the gold-in-soil anomaly (800 x 800m), suggests that Maria Bonita may have significant bulk-tonnage potential,” Bennett added.
Altamira noted that a total of nine initial reconnaissance diamond drill holes have now been completed at Maria Bonita, with results pending on seven of these holes.
It added that on the basis of the initial two diamond drill holes further drilling will be required in order to determine the size of this new mineralized system.
As well, the company reported that several strong, but as yet, untested gold-in-soil anomalies occur within a short radius of the Cajueiro resource area and include Maria Bonita, Sossego and Novo Sonho.
Altamira said Maria Bonita is the strongest of these peripheral gold-in-soil anomalies and is open to the west, with the current footprint of the geochemical anomaly covering an area comparable in size to the entire Cajueiro mineral resource area.
Altamira Gold holds eight projects comprising about 190,000 hectares, within the prolific Juruena gold belt that 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 in the higher confidence Indicated category, along with 12.66Mt at 1.26 g/t gold for 515,000 Inferred ounces.
Contact Sean at sean@proactiveinvestors.com