September 26th, 2017 – Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (USA: EQTRF), (“Altamira” or the “Company”) is pleased to announce that it has received results from an additional 115 surface samples that were collected prior to the commencement of the current drill program and has identified new high grade vein showings on the property which have never been previously drill tested. Earlier surface sampling returned values up to 1022.98 g/t gold from grab samples. Highlights are as follows:-
- Surface grab samples from a WSW-trending high grade vein zone at the Raimundo target returned values including 9g/t and 148.2g/t gold. There is evidence of a sheeted vein zone at Raimundo
- Surface samples from the Boiadeiro area which previously returned values up to 1022.98 g/t gold returned values including 86g/t gold
- The Filao de Milton zone, which previously returned gold values from surface of 90g/t, 23.63g/t and 39.24g/t gold, returned values which include 9.30g/t and 6.54 g/t gold from grab sample
- Diamond drilling is in progress
- Altamira has been granted an additional 2,326ha of exploration claims within the Crepori area bringing the total land holdings to 10,649ha
The Crepori project is located in the state of Para along the Transgarimpeira highway and has been extensively worked for placer gold in the past but no previous drilling has been conducted until now on the property. Previous work conducted by Altamira in 2013 returned gold values up to 1022.98 g/t gold in the Boladeiro area and up to 39.2 g/t gold in the Filao do Milton (Picarreira) target area.
Raimundo target area
The Raimundo target is located approximately 1km WNW of Creporizinho village adjacent to the Transgarimpeira highway and previously returned gold values from surface up to 8.61g/t gold. Results from the current round of sampling returned values which include 53.9 and 148.2 g/t gold from grab samples collected from a high grade WSW trending vein that appears to be surrounded by a sheeted vein zone. This raises the possibility of a bulk tonnage target at Raimundo. Drilling is currently in progress on this target.
Boiadeiro target area
The Boiadeiro area is located approximately 2.5km SSW of Creporizinho village at the head of an extensive area of placer gold workings and previously returned gold values from surface up to 1022.98g/t gold. Results from the current round of sampling returned values which include 136.9g/t gold from grab samples. Two drill sites have been located in this target area.
Filao de Milton (Picarreira) target area
The Filao de Milton target is located approximately 3.8km WSW of Creporizinho village approximately 500m south of the Transgarimpeira highway and previously returned gold values from surface of 14.90g/t, 23.63g/t and 39.24g/t gold. Results from the current round of sampling returned values which include 9.30g/t and 6.54 g/t gold from grab samples collected from a high grade WSW trending vein zone that may be the western extension of the Ze do Bode and Raimundo zones,which could suggest a possible strike length of over 3km.
Commenting on these results, Mike Bennett, President & CEO stated “these additional surface sample results lead us to believe that the Crepori project has potential to host several high-grade gold-bearing structures, which are likely to be the source of the placer gold previously worked in the area. We look forward to the continuation of drilling and drill results in the near future”
Separately, Altamira has been granted an additional 2,326ha of exploration claims within the Crepori area immediately south of the current block, bringing the total land holdings to 10,649ha.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold deposits within western central Brazil. The Company holds 12 projects comprising approximately 200,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company’s advanced Cajueiro project has an NI 43-101 compliant resources of 8.64Mt @ 0.78 g/t Au (for 214,000oz) in the Indicated resource category and 9.53Mt @ 0.66 g/t Au (for 204,000oz) in the Inferred resource category and an additional 1.37Mt @ 1.61 g/t Au in oxides (for 79,000oz in saprolite) in the Inferred resource category.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
President & CEO
Guillermo Hughes, P. Geo., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Neither TSX Venture Exchange nor it Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward looking statements.