Altamira Gold Corp said it has received assay results from two additional diamond drill holes at the Maria Bonita target of its Cajueiro project in Brazil.
Specifically, drill hole MBA003 returned 45 meters (m) at 1.4 grams per tonne (g/t) gold from surface in a strongly altered porphyritic intrusive host rock, crosscut by several phases of quartz veining. Drillhole MBA004 intersected 50m at 1.1 g/t gold from surface in a similar lithology, the company said.
The two holes returned results similar to the first two drill holes (MBA001 and MBA002), which previously returned 50m at 1 g/t gold and 55m at 1 g/t gold, respectively. In summary, the initial four diamond drill holes completed at Mara Bonita appear to have intersected a new mineralized porphyry system that is currently open in every direction, the company said.
READ: Altamira Gold reveals new gold discovery at its Cajueiro project in Brazil
"These new results from holes 3 and 4 at Maria Bonita confirm the significant gold grades encountered in the first two drill holes and support our belief that Maria Bonita represents a significant discovery for the company,” CEO Mike Bennett said in a statement.
“The quartz stockwork style of gold mineralization in porphyritic rocks, together with the size of the gold-in-soil anomaly (800 x 800m), is indicative of a significant mineralized system which is open in all directions. Given the consistency and continuity of mineralization found in the first four holes, we have commissioned preliminary metallurgical characterization tests on mineralized core samples.”
The company is awaiting results from five additional drill holes at the project.
The Cajueiro project is located roughly 75 kilometers northwest of the town of Alta Floresta in the state of Mato Grosso in central western Brazil. It is one of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena.
The Cajueiro project has current NI 43-101 resources of 5.66 megatonnes at 1.02 g/t gold for a total of 185,000 ounces in the indicated resource category and 12.66 Mt at 1.26 g/t gold for a total of 515,000 ounces in the inferred resource category.
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