Business
Altamira Gold Continues to Expand the Intrusive-hosted Gold Discovery at Maria Bonita
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2023) - Altamira Gold Corp. (TSXV: ...
About this update from Altamira Gold Corp
[{"type":"text","content":"Altamira Gold Continues to Expand the Intrusive-hosted Gold Discovery at Maria BonitaVancouver, British Columbia--(Newsfile Corp. - September 12, 2023) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), (\"Altamira\" or the \"Company\") is pleased to provide an update on its ongoing exploration program at the Maria Bonita discovery which forms part of the Cajueiro gold project in the states of Mato Grosso and Para, northern Brazil. Highlights:A recently completed deep motorised auger drilling program over the Maria Bonita discovery has extended the footprint of gold mineralization in weathered bedrock to the north, east and west of the mineralized area defined by the initial diamond drilling programThis program follows excellent results from the initial nine diamond drill holes which include 69m @ 1g/t in MBA005, 50m @ 1.1 g/t gold in MBA004, 55m @ 1.0 g/t gold in MBA002, 50m @ 1.0 g/t gold in MBA001 and 45m @ 1.4 g/t gold in MBA003. Disseminated gold mineralization in the initial discovery holes is hosted within rhyolitic intrusive rocksA total of 47 auger holes, comprising an aggregate 430m were completed. A total of 266 samples (or 62% of the sample population) contained greater than 0.5g/t gold. Thirty-nine auger holes (83% of the total holes drilled) ended in gold mineralization greater than 0.5g/t AuCEO Mike Bennett commented; \"These very positive results confirm that contiguous gold mineralization is present in the saprolite (weathered bedrock) over a significantly wider area than that established by our initial diamond drilling. These new data suggest that the axis of the stockwork mineralization in the bedrock has an east-southeast orientation, dipping below a later inferred dyke to the east and remaining open to the west. As the gold mineralization at Maria Bonita is present at the surface, with no cover rocks, auger drilling has provided quick and low-cost data on the near surface distribution of gold which can now be used for future resource estimates. These new data support our interpretation of a significant new disseminated gold discovery in intrusive rocks and will assist us in designing a forthcoming second phase diamond drill program.\"CAJUEIRO PROJECT The Maria Bonita target lies within the Cajueiro project, located approximately 75km north-west of the town of Alta Floresta in the state of Mato...