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Second Trial Mining License Approved for Altamira Gold at the Cajueiro Gold Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2020) - Altamira Gold Corp.'s (TSXV: ...
About this update from Altamira Gold Corp
[{"type":"text","content":"Second Trial Mining License Approved for Altamira Gold at the Cajueiro Gold Project, BrazilVancouver, British Columbia--(Newsfile Corp. - July 15, 2020) - Altamira Gold Corp.'s (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) (\"Altamira\" or the \"Company\") is pleased to announce that the second Trial Mining License within the claim block 866070/2004 has been approved for its advanced Cajueiro Gold Project in northern Mato Grosso State in western Brazil.Highlights:As recently announced, permits are in place for the construction of a 1000t/d processing plant at the Cajueiro gold project which is expected to commence during H2 2020The second Trial Mining License now grants Altamira Gold the right to process an additional 50,000 tonnes per year from the key Crente resource area, and is valid for 22 monthsThe two Trial Mining Licenses which have been granted so far allow the Company to process a total of 100,000 tonnes of mineralized material per year from the entire Crente areaAltamira is pursuing two additional Trial Mining Licenses which would cover the resources in the Baldo, Matrincha and Marines deposits within the Cajueiro Project area Michael Bennett, President and CEO stated, \"We are extremely pleased with our progress in all respects so far during 2020 at our Cajueiro Gold Project. With two bulk sampling licenses in place, feed for the processing plant is now guaranteed for 2021, and plant construction is planned to commence later this year. The changes effected by the Brazilian government over the last 18 months have accelerated permitting processes in both the mining and environmental agencies allowing us to keep the project on schedule for production in 2021\"Approval of Second Trial Mining LicenseThe approval of the Trial Mining License within the claim block 866.070/2004 is another significant step forward as it allows Altamira to mine material from the northern part of the key Crente resource area (Figure 1). Permitting is ongoing for two additional Trial Mining Licenses for claims 850224/2009 and 866464/2017 which cover the northern Baldo, Marines and Matrincha areas.Figure 1: Map showing claims covering the Cajueiro project area.To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4500/59796_9d36206c440bf905_001full.jpgCajueiro Project UpdateThe initial first tranche payment of U...