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Altamira commences copper exploration
program in Juruena Belt, Mato Grosso, Brazil
Vancouver, BC -- February 21, 2018 -- InvestorsHub
NewsWire -- Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (USA: EQTRF), (“Altamira” or the
“Company”) is pleased to report that it commenced an
exploration program for concealed porphyry copper mineralization
throughout the Juruena Belt of Mato Grosso state in eastern Brazil.
The rationale behind the program is as follows: -
- The description of copper-gold mineralization at the Jaca
target (see attached map) consistent with porphyry mineralization
based on an examination of open file reports
- The recent staking of approximately 3.5M ha of new claims by
Anglo American Corp., Nexa Resources S.A. and Vale S.A. over the
Juruena Belt
- The identification of significant copper values from the
re-analysis of drill core at Colíder and Firmino, including 4.1m @
1.05% Cu and 18.59g/t Au
- A re-interpretation of detailed aeromagnetic data over
Altamira’s Cajuiero project has revealed 14 separate targets for
concealed porphyry style mineralization
During the last four months, several major mining companies,
including Anglo American Corp., Nexa Resources S.A. and Vale S.A.,
have all staked large areas of the Juruena gold belt amounting to
approximately 3.5M hectares. This staking rush is unprecedented in
Brazil. As a result, Altamira’s concession areas within the belt,
which include Cajueiro, Apiacás, Santa Helena and Carlinda are now
completely surrounded by third party claims (see attached map or
click https://altamiragold.com/altamira_juruena_pr_feb_21_18).
The catalyst for this staking rush appears to be a significant
copper discovery at Jaca located in the eastern part of the belt
(see map). Jaca was the subject of a University of Campinas
research study completed in December 2015 which describes
mineralization and alteration consistent with a porphyry Cu-Au
deposit. Based on Google Live satellite imagery, it appears that
Anglo American currently has 6 drill rigs drilling on the
project.
Altamira Gold’s Holds Over
200,000 Hectares in the Juruena Belt, Brazil
Several of Altamira’s projects are characterized by elevated
copper values including values exceeding 1% Cu from grab samples at
the Paulinho Troca Tiro prospect at Apiacás, 1m @
+1% Cu from a historic drill hole, Hole #FI-3 at
Firmino, and multiple elevated copper values in
previous drill holes at the Colíder project
including 4.1m @ 1.05% Cu and 18.59g/t Au in Hole #CL-1 and 2.9m @
0.61% Cu and 6.1g/t Au in Hole #CL-8.
Altamira Gold’s Colíder
project 4.1m @ 1.05% Cu and 18.59g/t Au in Hole #CL-1
Furthermore, a recent re-interpretation of the detailed
aeromagnetic data for the Cajueiro project has revealed the
presence of 14 discrete targets with magnetic and/or radiometric
responses that may be consistent with concealed porphyry-style
mineralization at depth, which could be the driver for the
extensive gold mineralization observed on surface at Cajueiro.
Ground follow-up work is planned in advance of drilling on these
targets.
Michael Bennett, President & CEO stated “the apparent
discovery of porphyry copper mineralization at Jaca and the recent
staking rush in the Juruena belt by major companies, provides a new
and exciting dimension to the overall potential of the Juruena
belt. The apparent association of copper with known gold
occurrences bodes well for the potential of Altamira’s projects in
the region which all produced placer gold. With copper identified
at Colíder, Nova Canaa, Apiacás and Firmino, we believe that
Altamira is well positioned to play a leading role in ongoing
copper exploration in the belt”.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold
deposits within western central Brazil. The Company holds 12
projects comprising approximately 200,000 hectares, within the
prolific Juruena gold belt which historically produced an estimated
7 to 10Moz of placer gold. The Company’s advanced Cajueiro project
has an NI 43-101 resources of 8.64Mt @ 0.78 g/t Au (for 214,000oz)
in the Indicated Resource category and 9.53Mt @ 0.66 g/t Au (for
204,000oz) in the Inferred Resource category and an additional
1.37Mt @ 1.61 g/t Au in oxides (for 79,000oz in saprolite) in the
Inferred Resource category (Gustavson Associates, 2016).
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
“Michael Bennett”
Michael Bennett
President & CEO
Tel: 604.676.5660
info@altamiragold.com
Guillermo Hughes, P. Geo., a consultant to the Company as
well as a Qualified Person as defined by National Instrument
43-101, supervised the preparation of the technical information in
this news release.
Neither TSX Venture Exchange nor it Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Statements
Statements in this document which are not purely historical are
forward-looking statements, including any statements regarding
beliefs, plans, expectations or intentions regarding the future. It
is important to note that actual outcomes and the Company’s actual
results could differ materially from those in such forward-looking
statements. Except as required by law, we do not undertake to
update these forward-looking statements.
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