SANTA HELENA

58,591.48 ha, Mato Grosso State, Brazil 

Location

Highlights

  • Copper-in-soil anomaly 1.5km in diameter at Gabriel target <308ppm copper. No previous trenching or drilling. Molybdenum anomaly occurs immediately north 

  • 49 surface rock samples recently collected from four areas at Santa Helena recently returned gold values ranging from 0 –171.6 g/t gold and 0 –0.81% copper 

  • Average values from each zone were;  

    • Flecha Dourada -31.2 g/t Au + 0.13% Cu  

    • Gabriel-19 g/t Au + 0.11% Cu 

    • Dorival-24.6 g/t Au 

    • Tucura-7.2 g/t Au 

Description

The property geology consists of Nhandu granite in the southern and central portions, and Colider suite micro-granites in the northern parts. North to northeast trending diabase dykes are in part parallel to a broad NNE trending shear, hosting later brittle deformation, hydrothermal alteration, quartz veining and gold associated with sulphides. Observed thicknesses and Au grades in the saprolite indicate potential for discovery of a significant open pit resource at Santa Helena. Three and six km-scale Au in soil anomalies over a 7 km trend associated with the broad shearing event remain virtually untested. Observed thicknesses and grades within the saprolite oxide domain indicate potential for discovery of an economic open pit deposit. 

On April 4, 2018, the Company reported that it had commenced with a copper exploration program at the Santa Helena Project located in eastern part of the Juruena belt in central Brazil. The project is characterized by gold mineralization on surface which the Company believes may be related to a concealed porphyry copper system. The Santa Helena project is the Company’s closest project to the newly discovered copper porphyry by Anglo American at Jaca. 

On May 16, 2018, the Company provided an update on its early stage geological mapping and rock sampling program at the Santa Helena project.  

The project has never been the subject of any previous drilling by Altamira. The current sampling program suggests the presence of a mineralized system with copper and gold values along a distance of 6km E-W. 

The most easterly target is the Gabriel area which is located 1.2 km north of a small historic open pit mine which produced gold from a series of high-grade veins. A total of 20 grab samples were collected on surface from this area and returned gold values ranging from 0 to 171.6 g/t gold and 0 – 0.96% Cu and averaged 19.0 g/t gold and 0.11% Cu. Seven samples returned values above 10g/t gold.  

The Flecha Dourada target is located 3km WSW of Gabriel. Grab samples from this prospect ranged from 0.3 – 153.8g/t gold and 0 – 0.81% Cu and averaged 31.2g/t gold + 0.13% Cu with 11 samples returning above 10g/t gold. 

The Dorival target is located 500m west of Flecha Dourada. Six grab samples were collected from this prospect which ranged from 7.4 to 73.3g/t gold and 0 to 0.27% Cu, and averaged 24.6g/t gold. 

Six grab samples were collected from the Tucura area and returned gold values of 0.2 to 22.6 g/t gold and averaged 7.2g/t gold. Tucura is located 2km NW of the Dorival target.   

In addition to the rock sample results outlined above, Altamira has completed a program of soil sampling. On June 7, 2018, the Company provided results from its soil sampling program as follows: 

A total of 196 soil samples were collected in the Gabriel target area. Soil samples were collected on a grid spaced 100 m N-S and 200 m E-W. This work has identified a significant zone of anomalous copper values up to 308ppm which is 1.5km in diameter. Anomalous molybdenum values up to 6ppm are also evident on the northern margin of the copper-in-soil anomaly with the zone being open to the north.  

In addition, two existing gold-in-soil anomalies identified during previous sampling, are known to exist in the Gabriel and Flecha Dourada areas and appear to be peripheral to the copper-in-soil anomaly at Gabriel. The anomaly in the Gabriel area has a north-east trend and a surface expression of 1000m x 400 meters (gold-in-soil values range from 50 to 3,834 ppb Au). The gold anomaly is located 1km west of the copper-in-soil anomaly. The second gold anomaly is located two kilometers to the south west in the Flecha Dourada area and extends over an area surface of 750 x 500 meters (gold in soil values range from 50 to 3,830 ppb Au). 

The presence of a copper-in-soil anomaly at Santa Helena associated with a large-scale hydrothermal alteration system, as well as two significant gold-in-soil anomalies and numerous high-grade gold bearing structures and elevated copper values increases the potential for a concealed Au-Cu mineralized system at Santa Helena. 

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