Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) (FRA:T6UP) said Monday it has confirmed four high-grade gold-silver vein structures at its Apiacas project in Brazil.
In a statement, the Vancouver-based junior revealed that the veins appear to extend over at least a one-kilometre strike length on the Mutum target.
Surface grab samples returned values of up to 403.5 grams per ton (g/t) gold, while recent channel samples included values of up to three metres at 10.4 g/t gold. Silver assays also returned high-grade values of up to 871 g/t.
READ: Altamira Gold reveals longest gold-in-soil anomaly in previously unexplored area of Cajueiro project in Brazil
All of the veins originate from an area of disseminated gold mineralization, which was mapped over four square kilometres on surface.
Apiacas is located in Mato Grosso state, around 50 kilometres west of Altamira’s Cajueiro gold project. Cajueiro hosts 43-101 compliant indicated resources of 5.7 million tons at 1.02 g/t gold for a total of 185,000 ounces, and inferred resources of 12.7 million tons at 1.3 g/t gold for a total of 515,000 ounces.
“At least 1 million ounces of gold were produced primarily from weathered bedrock at the Mutum target within the Apiacas Gold Project,” Altamira CEO Michael Bennett told shareholders in a statement.
“Mutum displays broad distribution of disseminated gold mineralization occurring within altered intrusive rock. This target, covering at least four square kilometres, has the potential to host a very large gold system. Altamira’s recent identification of four high-grade vein structures, locally carrying bonanza gold and silver values, makes this target even more compelling.”
Altamira told investors it plans to conduct a ground induced polarization geophysical survey to better define the limits of altered and mineralized intrusive rock carrying disseminated ahead of drilling in mid-2021.
Contact Angela at [email protected]
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Story by ProactiveInvestors
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