Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) (FRA:T6UP) announced it has received its environmental approval for its Apiacas gold project in Brazil.
The permit allows the Canadian junior to complete drilling and trenching over the target area.
In a statement, Vancouver-based Altamira said that the environmental department of the State of Mato Grosso had approved the environmental permit covering the central area of the Mutum target.
READ: Altamira Gold hires world-renowned Dr. Quinton Hennigh as geological advisor; to carry out IP survey at Mutum target
Altamira told investors that a previously announced IP survey is anticipated to begin this month and will help to define the limits of the altered and mineralized intrusive rock with disseminated pyrite and gold.
The IP survey will guide the subsequent trenching and drill program, the company added.
“We are extremely pleased to have been granted the environmental permit at Mutum, which allows us to drill and trench the central part of the Mutum target,” Altamira CEO Michael Bennett said in a statement.
“A dedicated geological team is now onsite mapping and sampling the grid lines, which are being opened ready for the ground IP survey in May 2021. The IP work should show us the limits of the disseminated gold-pyrite mineralisation and allow Altamira to define the initial sites for the drill program in mid 2021.”
The Mutum target on the Apiacas project is located 50 kilometres west of Altamira’s Cajueiro gold project, which hosts 43-101 compliant indicated resources of 5.7 million tons at 1 gram per ton (g/t) gold for a total of 185,000 ounces, and inferred resources of 12.7 million at 1.3 g/t gold for a total of 515,000 ounces.
Altamira told investors that nearly one million ounces of colluvial gold were historically recovered from the Mutum target, suggesting the presence of a “significant” underlying hard-rock deposit.
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Story by ProactiveInvestors
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