Altamira Gold uncovers new mineralized structures at its Cajueiro gold project in Brazil

Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) has uncovered new mineralized structures at its Cajueiro gold project in Brazil, it said Wednesday. The Vancouver-based explorer said it discovered the structures after a recent trenching program on the property that was originally meant to collect bulk samples for metallurgical testing. Over the course of the trenching program, several previously unknown mineralized structures were located within the Baldo and Crente gold areas, where production is planned during the second half of 2021. READ: Altamira Gold makes more progress at Cajueiro gold project with second trial mining license In a statement, Altamira told shareholders that the new discoveries were “extremely important” for the initial trial mining pit design and could boost the numbers of Cajueiro’s existing resource. "The discovery of multiple new mineralized structures at both the Baldo and Crente resource areas shows that there is significant potential to expand the present 43-101 resource within the central area and suggests that there is a strong possibility of discovering additional new mineralized structures at Cajueiro,” CEO Michael Bennett said in a statement. “These new mineralized structures and others yet to be discovered by pre-stripping will be incorporated in the pit design in advance of gold production in H2 2021.” New trenches at Baldo and Crente At Baldo, new trenches revealed three previously unknown mineralized structures that extend for a combined strike length of nearly one kilometre and are open along strike. The first trench exposed within the Crente area showed sub-parallel mineralized structures east of the main structure. Trenches also opened over gold-in-soil anomalies northeast of the deposit, suggesting that a number of the structures may extend for another 900 metres. Preliminary panning of samples taken from the oxide material from the new structures in both the Baldo and Crente areas has revealed the presence of visible gold, Altamira told investors, and geochemical assays are pending. Cajueiro has NI 43-101 resources of 5.7 million tons at 1 grams per ton (g/t) gold for a total of 185,000 ounces in the indicated resource category and 12.7 million tons at 1.3 g/t gold for a total of 515,000 ounces in the inferred category. A total of 14,000 metres of drilling and over 4,000 metres of trenching are completed to date within 285 hectares in the central part of the 28,577 hectare claim package, which is just 1% of the Cajueiro project area. Numerous other gold-in-soil anomalies remain untested. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas