Altamira Gold (TSXV: ALTA) has released new drill and trench results from the Maria Bonita gold porphyry system in Brazil. The results returned wide intervals of mineralization from ground inside the deposit’s recently expanded open pit footprint.
The results cover drill holes MBA044 and MBA045 and four of five bulldozer trenches. All of them were still at the lab when the company closed off data for last month’s resource update, so none of the results are captured in the current estimate.
MBA045 delivered the strongest numbers. The hole cut three mineralized zones totalling 272 metres downhole, separated by barren post-mineral dykes, and ended in mineralization at 349 metres. That leaves the lowest interval open at depth.
Highlights from the program include:
- MBA045: 0.4 g/t gold over 87 metres from surface
- And 0.3 g/t gold over 52 metres from a depth of 155 metres
- And 0.5 g/t gold over 134 metres from a depth of 215 metres
- TCMBA05: 0.7 g/t gold over 114 metres
- Including 1.3 g/t gold over 36 metres
Bedrock isn’t exposed across the resource area, so Altamira dug trenches to map how gold is distributed near surface. TCMBA05 was excavated along the same section as MBA045 and points to near-surface oxide mineralization running at higher grades than the broader deposit. Trenches to the north and east of the porphyry returned generally low values, and results from TCMBA06 are still pending.
The deepest MBA045 interval sits mostly in veined tuffs next to the Western Porphyry. Altamira confirmed that separate mineralized body in August, when holes MBA-042 and MBA-043 each returned more than 200 metres of continuous mineralization. MBA044 tested the northern edge of the system and came back largely below cut-off grade. Its best interval was 0.3 g/t gold over 7.2 metres.
“The trench results are particularly promising for the delineation of wide zones of higher-grade mineralization at-or-near surface,” said President and CEO Michael Bennett. He added that MBA045 “ended in mineralization with a broad (100+m) interval of above average grade for the current Mineral Resource, indicating the potential to further enhance the existing gold resources through future infill drilling.”
A rig is now turning on the adjoining property to the west, where Altamira secured surface access to 58 square kilometres in August. Further trenching and shallow reverse circulation drilling are planned to define the oxide zone, and assays for MBA046 remain outstanding.
Altamira Gold last traded at $0.24 on the TSX Venture.
