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Be the first with the news that moves the market- Altamira Gold (ALTA) has stumbled across several new mineralized structures at its Cajueiro gold project in Brazil
- The company was conducting trenching and bulk sampling work to test the proposed design of a new processing plant
- The trenches were dug into the Baldo and the Crente mineralised zones and found three new structures at Baldo and one large structure at Crente
- The company believes this will have a significant impact on the site’s overall logistics and resource estimate
- Altamira Gold (ALTA) is up 4.3 per cent and is trading at C$0.12 per share
Altamira Gold (ALTA) has found a host of new mineral structures at its Cajueiro gold project in Brazil.
The company hit the structures while completing testing and engineering work for the site’s new processing plant, digging bulk samples in the process.
The 50 kilogram samples were meant to test the design of the proposed plant, but instead, intersected completely new sections of mineralization. The company found the structures in the Baldo and the Crente gold resource areas, which are currently scheduled to produce in the back half of next year.
At the Baldo resource, the company hit three hitherto unknown mineral structures, that have a combined strike length of one kilometre. At Crente, the company’s first trench exposed some parallel mineralized structures that ran to the east of the principal structure within the zone.
Altamira has called the new discoveries extremely important and said they are likely to add significant mineral resources to the current resource.
The company followed the results with trenching works, discovering gold in soil anomalies along a vein that runs for 900 metres.
CEO of Altamira Michael Bennett commented on the discovery, saying there was the strong possibility the company could discovery additional mineral structures on the project.
“The discovery of multiple new mineralized structures at both the Baldo and Crente resource areas show that there is significant potential to expand the present 43-101 resource within the central area.
“These new mineralised structures and others yet to be discovered by pre-stripping will be incorporated in the pit design,” he said.
Altamira Gold (ALTA) is up 4.3 per cent and is trading at C$0.12 per share at 10:00 am EDT.
