Business
Altamira Gold Acquires Surface Rights over the Maria Bonita Discovery, Cajueiro Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - November 23, 2022) -  Altamira Gold Corp....
About this update from Altamira Gold Corp
[{"type":"text","content":"Altamira Gold Acquires Surface Rights over the Maria Bonita Discovery, Cajueiro Project, BrazilVancouver, British Columbia--(Newsfile Corp. - November 23, 2022) -  Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), (\"Altamira\" or the \"Company\") is pleased to announce that it has entered into a definitive purchase agreement with the private owners of surface rights covering the Maria Bonita target, which forms part of the Cajueiro Project in Para State, Brazil. Highlights:Following the receipt of drill results for the initial four drill holes at Maria Bonita which returned consistent gold mineralization in porphyritic rocks, the Company has entered into a definitive agreement (the \"Agreement\") to purchase a total of 409 ha of surface rights that include the current known extension of the Maria Bonita target.Pursuant to the Agreement, the Company will make four equal payments to the Vendors over a period of 18 months for a total of R$2,500,000 (equivalent to C$ 625,750 as of November 23rd, 2022). The initial payment of R$ 625,000 (equivalent to C$156,438 as of November 23rd, 2022) was made on November 14th, 2022, upon execution of the Agreement.The Agreement provides the Company with immediate unencumbered access to undertake further exploration over the Maria Bonita discovery, and facilitates the fast-tracking of future development of the Cajueiro Project. CEO Mike Bennett commented; \"It is clear from the initial drill results that we have discovered a significant new mineralized system at Maria Bonita. The acquisition of these surface rights provides us with the flexibility to design further exploration drilling within our own timeline. We are very pleased to have been able to move swiftly to acquire the surface rights at a competitive price in the local market context and look forward to the results of further drilling as we work to identify the extent of the new discovery at Maria Bonita\". CAJUEIRO PROJECT The Cajueiro Project is located approximately 75km NW of the town of Alta Floresta in the State of Mato Grosso in central western Brazil and is easily accessible by road and has grid power. Cajueiro forms one of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena (Figure 1).Figure 1: Location of the Cajueiro, Apiacas and Santa Helena projects.To view...