September 14, 2017 / JMN Wire / Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (USA: EQTRF), (“Altamira” or the “Company”) is pleased to announce the commencement of diamond drilling at the Crepori project in southern Para state, Brazil, and the appointment of Michael Bennett as President & CEO of the Company.
Commencement of Crepori Drilling
Drilling has commenced at the Crepori project in southern Para state. Historic placer gold workings at Crepori are extensive and cover an area of several square kilometres making it one of the largest placer gold camps in the northern Brazil. Estimated historic gold production from the placer workings is in excess of 0.5Moz.
The project has never been previously drilled. Reconnaissance work by Altamira has identified outcropping high grade vein mineralization in at least six different areas at Crepori including Ze Milton, Raimundo, Ze do Bode, Filão do Boiadeiro, Filão do Parente and Filão do Ouro which will all be tested as part of this first phase drill program and is expected to comprise 6-7 holes totaling a maximum of 1000m. Earlier work by Altamira returned gold values from surface samples ranging up to 1023g/t gold and results are currently pending on a number of additional surface samples which will be used to further refine drill targets.
Management Changes
The Company also wishes to announce that Mike Bennett has assumed the position of President and CEO of the Company replacing Alan Carter, who will move to the position of Chairman of the Company and will remain a director.
Mike Bennett is both a geologist and a Board member of Altamira. He is also Altamira’s largest shareholder, as well as a founder of Alta Floresta Gold Ltd., the private company that was acquired by Altamira (formerly Equitas Resources Ltd) in April 2016 (see press release dated 27th April 2016).
Mike was most recently General Manager for Meridian Mining Ltd., and brings over 30 years mining experience (including 12 years in Brazil) to the role of President and CEO. He is directly responsible for the discovery of the Puquio Norte gold deposit in Bolivia (now mined out), the Coringa gold deposit in Brazil (currently being developed by Anfield Gold) and the Cajueiro deposit, which is Altamira’s key asset. Mike has worked as a Vice President Exploration, Country Manager and Chief Geologist for several different companies and has also held senior government roles in South America as mayor of Porongo, Bolivia, President of the Municipal Association of Bolivia and President of the Chamber of Mines in Santa Cruz.
Commenting on these changes, Michael Bennett (President & CEO) said “I am delighted to assume the position of President and CEO of Altamira Gold. During the last few months we have successfully completed a corporate restructuring, raised $2.9M through several non-brokered private placements, discovered two new zones on our key Cajueiro project and have commenced drilling on our Crepori project. These developments, together with our track record of discovery in South America, as well as our local expertise, puts Altamira in a class all by itself in Brazil, and with drills turning, the Company is very well placed to create significant value for shareholders”.
