Altamira Gold Corp. announced various further initiatives to explore the Cajueiro district in the light of the identification of porphyry hosted gold mineralization at the Maria Bonita discovery. 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 and local water supply. Cajueiro is the most advanced of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena. The Cajueiro project has current NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000 oz in the Inferred Resource category (estimated using a gold price of US$1,500/oz). The near-surface oxide portion of the Cajueiro resource contains an estimated 75,000 oz of gold. Maria Bonita Target- Maria Bonita is located 7km west of the Cajueiro mineral resource and is easily accessible by road.
Drilling to date has defined various intercepts of relatively uniform gold mineralization from surface associated with quartz veining and pervasive potassic alteration within a rhyolite intrusive. The best intercept to date is MBA029 which returned 146m @ 1g/t gold from 23m depth. Initial metallurgical characterisation tests returned very positive gold recoveries of 88% (column leach of saprolite) and 90% (agitated leach in saprolite and fresh rock) on composite drill core samples. The drill target was defined by a pronounced gold-in-soil anomaly measuring 250m by 300m with values over 400 ppb Au, located within a larger magnetic low feature. There is no outcrop in the immediate project area, however, recent mapping has identified similar rhyolite intrusive rocks one kilometre to the north-east of the discovery area. The intervening area has no outcrop, is largely covered by thick saprolite (8 to 16m depth) and thin alluvium which limits the effectiveness of soil sampling. The drill core was reviewed on site with consultant Dr Richard Sillitoe, one of the leading global experts in porphyry mineralization, who confirmed an interpretation of the system as a porphyry gold deposit.