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Altamira Gold Identifies Strong Ground Magnetic Anomaly Coincident with Gold-in-Soil Anomaly at Maria Bonita Discovery, Cajueiro Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2023) - Altamira Gold Corp. (TSXV: A...
About this update from Altamira Gold Corp
[{"type":"text","content":"Altamira Gold Identifies Strong Ground Magnetic Anomaly Coincident with Gold-in-Soil Anomaly at Maria Bonita Discovery, Cajueiro Project, BrazilVancouver, British Columbia--(Newsfile Corp. - November 29, 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 intrusive-hosted gold discovery which forms part of the Cajueiro gold project in the states of Mato Grosso and Para, northern Brazil. Highlights:Following the successful recent raising of C$6M, the company has concluded a ground magnetic survey together with additional soil sampling over the Maria Bonita discovery prior to the commencement of a second round of diamond drillingA well-defined ground magnetic low anomaly has been identified measuring 500m N-S by 1000m E-W and is coincident with a very strong 300ppb gold soil anomaly. Prior drilling has shown a pronounced relationship between disseminated gold mineralization and hydrothermal alteration associated with magnetite destruction in the intrusive host rocks. All seven mineralized drillholes to date are located within the magnetic lowThe company plans to commence a second stage of diamond drilling to extend the known intrusive-hosted and disseminated gold mineralization in the near futureCEO Mike Bennett commented; \"Our ongoing exploration work at the Maria Bonita discovery has focused on gaining a better understanding of the structural controls on gold mineralization, ahead of a second round of diamond drilling. These recent ground magnetic results define a larger and more accurately defined magnetic low anomaly than previously outlined and confirm the prospectivity, in particular to the south, east and west of the intrusive hosted and disseminated gold mineralization encountered in seven of the nine holes in the initial scout drilling programme. The next round of diamond drilling, which will commence shortly, will be very exciting as we work to determine the size of the Maria Bonita mineralized system\". 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 Grosso in central western Brazil. Maria Bonita is located 7km north-west of the Cajueiro resource, within Para sta...