FULL DISCLOSURE: Altamira Gold is a sponsor of theDeepDive.ca.
Altamira Gold (TSXV: ALTA) continues its hunt for porphyry style mineralization at their Cajueiro project in Brazil. The latest drill results, which focused on reconnaissance drilling at the Tavares Norte target, are said to have identified the presence of a second mineralized porphyry body.
Highlights from the results include:
Sponsored · Selkirk Copper Mines
- TVN001: 0.3 g/t gold over 3.3 metres from a depth of 11.0 metres
- TVN002: 0.4 g/t gold over 18.6 metres from a depth of 36.0 metres
- And 0.3 g/t gold over 20.0 metres from a depth of 133.0 metres
Mineralization encountered is said to be geologically and geochemically similar to the porphyry body that hosts the Maria Bonita mineral resource 5.5 kilometres to the west. Gold was encountered in quartz veined porphyry intrusive rocks within the entire quartz porphyry interval, assaying at 0.2 g/t gold over 161.7 metres in hole TVN002.
Further drilling intends to target the area to the east of hole TVN002, where the gold in soil anomaly increases in strength. That anomaly overall measures 1,800 metres by 1,300 metres in size, with surface grab samples assaying as high as 7.8 g/t gold.
“The results from the initial reconnaissance drilling at the Tavares Norte target are highly encouraging as they demonstrate the presence of a second gold mineralized porphyry body within the Cajueiro district. The geological and geochemical similarities to the Maria Bonita porphyry, together with the presence of strong alteration and sulfide mineralization, validates our model for the prospectivity of the east-west corridor extending through Maria Bonita. The Maria Bonita gold porphyry deposit is not unique within the Cajueiro district and we intend to focus additional drilling at Tavares Norte to better define the size of the porphyry body now identified there,” commented Mike Bennett, CEO of Altamira Gold.
Separately, drilling 1.5 kilometres to the east of the Tavares Norte target at the Morro Verde target has encountered altered and veined quartz porphyry rock in initial drilling. Drilling is also ongoing at Maria Bonita, where drill hole MBA033 was completed to a depth of 497 metres and hole MBA034, which was collared 100 metres to the south, is now in progress. Assays remain outstanding.
Altamira Gold last traded at $0.22 on the TSX Venture.
FULL DISCLOSURE: Altamira Gold Corp is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Altamira Gold. The author has been compensated to cover Altamira Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
