Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) has revealed a major new gold-in-soil anomaly in a greenfield area of the Cajueiro gold project in Brazil.
The 700 metre by 100 metre anomaly was discovered at the Maria Bonita area of the project, making it the largest anomaly at Cajueiro, according to Altamira.
The firm completed three new north-south trending soil lines at Maria Bonita and 75% of the soil samples returned “highly anomalous” gold values over 100 parts per billion up to a maximum of 3.1 grams per ton (g/t) gold in soils – higher than previous values found elsewhere at the Cajueiro resource area, the Vancouver-based company said in a statement.
READ: Altamira Gold reports 'highly encouraging' trenching results from Cajueiro gold project in Brazil
Maria Bonita is located approximately 5 kilometres northwest of the current resource at Cajueiro, which includes the Crente, Marines, Matrincha and Baldo mineralized zones. Cajueiro currently has an NI 43-101 resource of 5.7 million tons at 1 g/t gold for a total of 185,000 ounces in the indicated category and 12.7 million tons grading 1.3 g/t gold for a total of 515,000 ounces in the inferred category.
Map showing contoured gold-in-soil values and distribution of historic gold placer workings
In a statement, the explorer told investors it believes the “size and strength” of the anomaly could explain the placer gold previously mined on the concession.
"The new soil lines at Maria Bonita have revealed a much larger and stronger soil anomaly than was previously known and the gold values in soils are higher than the values that exist directly above the known mineralized zones which are located 5 kilomeres to the east and comprise the current resource base,” Altamira CEO Michael Bennett told investors in the statement Wednesday.
“This is a very exciting development and suggests the possible existence of an additional deposit within the Cajueiro project.”
Altamira is planning to do more soil sampling to determine the eastern and western limits of the anomaly.
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