APIACAS

Disseminated gold mineralization over 4 x 1km area. Undrilled.

Largest placer gold camp in the belt with historic artisanal production of 1Moz

Highlights

  • Located 50km west of Cajueiro project within the Alta Floresta Belt – 82,000 hectare land package

  • Apiacas district historically produced over 1Moz of placer gold and was largest placer gold camp in the Alta Floresta belt

  • The bulk of the historic placer production came from the Mutum Recent surface sampling and mapping has identified disseminated gold mineralization over 4 sq. km

  • Channel samples up to 12m @ 2.0 g/t gold on surface. 75% of surface rock samples collected at Mutum in 2019 returned gold values ranging from 0.5 – 96.6 g/t

  • Three new targets were identified within the Apiacás project area during 2019 at Nelson Rocha, Ze Rodrigues and Chaveta. The results from 26 grab samples collected at the Nelson Rocha target returned values ranging from 2 – 335.2 g/t gold from thirteen of twenty-six samples. Five samples returned copper values of 0.2 to 1.2% Cu

Location

Regional map showing location of Altamira’s Apiacas and Cajueiro projects. Note size of historic placer gold footprint at Apiacas relative to Cajueiro

Description

The Apiacás project comprises a package of properties covering seven main target areas which constitute the Apiacas district, which was the largest placer gold camp in the Alta Floresta Belt during the gold rush of the 1980’s. An estimated 1Moz of placer gold has been extracted from the Apiacas district, most of which came from the Mutum target.

There has been no previous drilling. Wide-spaced trenching over prospective structures along a two km trend, adjacent historic garimpeiro workings, has achieved some promising results, including 9m @ 9.44 g/t gold, and 9m @ 4.5 g/t gold.

Apiacas district claim map showing Altamira’s claims and location of key targets including Mutum target

Mutum target

The Mutum target area is estimated to have produced at least 90% of the estimated 1Moz of the placer gold produced from the Apiacás district. Unlike the other known targets at Apiacás, the Mutum target is characterised by widespread quartz-sericite-pyrite alteration of granitic rocks with minor quartz which extends over at least 4 square kilometres. Artisanal mining of this altered material has taken place at several places suggesting that the altered and pyritized rocks contain gold. This suggests that a large disseminated gold deposit may be present at Mutum.

Please see the News Release dated February 4, 2019 and June 4 2019 for additional details.

Drilling is planned in order to test the potential for a large disseminated gold deposit at Mutum.

Satellite image of Mutum target showing placer workings and outline of disseminated gold mineralization

Site Photos