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Altamira reports Updated and Expanded Resource Estimate for Cajueiro gold project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - October 10, 2019) - Altamira Gold Corp.'s (TSX...
About this update from Altamira Gold Corp
[{"type":"text","content":"Altamira reports Updated and Expanded Resource Estimate for Cajueiro gold project, BrazilVancouver, British Columbia--(Newsfile Corp. - October 10, 2019) - Altamira Gold Corp.'s (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), (\"Altamira\" or the \"Company\") is pleased to announce that it has received the results of the new resource estimate from Global Resource Engineering Ltd. (\"GRE\") for its advanced Cajueiro project in northern Mato Grosso state in western Brazil. Highlights are as follows:The 2019 Inferred resources represent a 83% increase in the total amount of contained ounces of gold and a 61% increase in the gold gradeInferred resources total 12,665,000t @ 1.26 g/t gold for a total of 515,000oz of gold of which 1,673,000t @ 1.12 g/t gold (for 60,000 oz) is weathered rock and 10,992,000t @ 1.29 g/t (for 455,000oz) is fresh rockThe 2019 Indicated resources represent a 13.5% decrease in the total amount of contained ounces but also represent a 33% increase in gradeIndicated resources total 5,661,000t @ 1.02 g/t gold for a total of 185,000 oz of gold of which 854,000t @ 0.92 g/t gold (for 25,000 oz) is weathered rock and 4,806,000t @ 1.04 g/t (for 160,000 oz) is fresh rockThe 2019 resource estimate includes several deposits which are all open at depth and are confined to an area of 285 ha. The Cajueiro concession area is largely unexplored and totals 39,053 ha with numerous untested gold-in-soil anomaliesAltamira is pleased to announce the completion of a new NI 43-101 gold mineral resource estimate for five deposits at its Cajueiro Project, located in the state of Mato Grosso in northern Brazil. Altamira's 2019 NI 43-101 Mineral Resource Estimate was completed by Global Resource Engineering Ltd. (\"GRE\"), and totals 5,661,000t @ 1.02 g/t gold for a total of 185,000 oz of gold (Indicated) and 12,665,000t @ 1.26 g/t gold for a total of 515,000oz of gold (Inferred) (Table 1). The resources reported here are confined to an area of approximately 285 ha whilst the total area comprising the Cajueiro concession area amounts to 39,053 ha.Resource Estimate Assumptions and Parameters and ResultsThe resource estimate utilizes all exploration information to date which includes 13,390 m of diamond core drilling and 5,282 m of surface trenches. Higher grade mineralized structures trending approximately north-south and east-west were mod...