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  • Altamira Gold (ALTA) has received environmental permit approval for the Mutum gold target at its Apiacas gold project approved
  • The company owns a 100 per cent stake in the project, which is located in Brazil
  • The permit allows Altamira to complete trenching and drilling over the target area
  • The permit is valid until 2024
  • Shares of Altamira Gold are up 9.09 per cent, trading at C$0.36 at 12:22 pm ET

Altamira Gold (ALTA) has received environmental permit approval for the Mutum gold target at its Apiacas gold project approved.

The company owns a 100 per cent stake in the project, which is located in Brazil.

The permit allows Altamira to complete trenching and drilling over the target area and is valid until 2024.

The company expects to begin an induced polarization (IP) survey by the end of April 2021 and will guide the subsequent trenching and drill program. The IP survey will help to define the limits of the altered and mineralized intrusive rock with disseminated pyrite and gold.

Line cutting and topographic surveying has begun over the 38.5-kilometre line grid and detailed geological mapping and sampling will be conducted over thoese lines to help site the initial drill holes planned for mid-2021.

“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. 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,” said Altamira President and CEO Michael Bennett.

Altamira Gold is focused on the exploration and development of gold projects within western central Brazil. The company holds eight projects comprising approximately 190,000 hectares, within the prolific Juruena gold belt.

Shares of Altamira Gold are up 9.09 per cent, trading at C$0.36 at 12:22 pm ET.

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