Altamira Gold Corp. Provides Exploration Update on Porphyry Gold Deposit
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.