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Altamira Gold (TSXV: ALTA) this morning indicated that they have seen early success in an ongoing drill program, with drilling intersecting porphyritic intrusive rocks in the first four out of five drill holes conducted at their Cajueiro project in Brazil.
The program has seen initial scout drilling completed at two of nine porphyry targets within the Cajueiro district. The Tavares Norte and Morro Verde were the first two targets to be selected for drilling, both of which are found in a corridor that extends 8 kilometres east to west and is defined by gold anomalies in soils and chip samples.
“We have completed the first scout drill tests at two of our nine district drill targets at Cajueiro. Four of the first five scout drill holes have intersected porphyritic intrusive rocks with potassic alteration and quartz veining. This supports our geological model of multiple porphyritic centres occurring in clusters or alignments within the Cajueiro District and points to similarities with the porphyry-style mineralization already identified at the Maria Bonita Mineral Resource,” commented Mike Bennett, CEO of Altamira.
At Tavares Norte, two drill holes were completed that were targeting a gold in soil anomaly of up to 497 ppb gold. Chip samples here meanwhile had assayed up to 27.5 g/t gold, 929 ppm copper, and 356 ppm molybdenum. Hole TVN001 reportedly intersected 80 metres of quartz porphyry intrusive and associated magmatic breccias at a depth of just 8 metres, while hole TVN002 was drilled 100 metres to the east and encountered 60 metres of quartz porphyry intrusive.
Morro Verde meanwhile saw three holes conducted, which were targeting outcrops of quartz veined quartz porphyry and intrusive breccias that sampled as high as 5.1 g/t gold, 366 ppm copper and 356 ppm molybdenum. Hole MRV002 is said to have encountered 65 metres of quartz veined felsic porphyry from surface, while hole MRV003 encountered 43 metres of quartz veined porphyry.
A total of 1,256 metres of drilling has been completed across five holes to date, the assays for which are pending. Mineralization within four of those holes is said to be similar to the Maria Bonita gold deposit, which has a resource estimate in excess of 720,000 ounces of gold that was defined from just 4,518 metres of drilling.
Currently, drilling is focused on conducting a second follow up deep drill hole at Maria Bonita, which follows hole MBA032 intersecting 500 metres of prospective quartz porphyry alteration and mineralization in an initial deep hole, the assays for which remain pending.
“These are encouraging early signs, and we will continue to advance the testing of the district exploration targets in parallel with resource extension and delineation drilling at both the Maria Bonita and Central gold deposits,” continued Bennett.
Altamira Gold last traded at $0.265 on the TSX Venture.
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