Altamira Expands its Land Position in the Alta Floresta Belt in Mato Grosso, Brazil
TSX VENTURE: ALTA
Vancouver, British Columbia--(Newsfile Corp. - December 5, 2018) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) ("Altamira" or the "Company") is pleased to report that the Company has successfully applied to claim a strategic land position within the Alta Floresta Belt in Mato Grosso, Brazil. These new claims total 70,184.70 hectares and lie on the northern margin of the Alta Floresta Belt close to the contact with the sediments of the Cachimbo Graben. The Company's total land position in the belt is now over 300,000 hectares.
As reported in the Company's news release dated February 21, 2018, the district that Altamira has been developing for over ten years has brought immediate interest from some of the largest copper mining companies of the world. A significant porphyry copper discovery at Jaca located in the eastern part of the belt was the catalyst. Initial research studies by The Geological Service of Brazil -2008 & by the University of Campinas - December 2015 emphasized the potential within the belt to host porphyry-related Paleoproterozoic gold and base metal mineralization, however, Anglo American was the first company to explore for copper in the region and bring the attention of the world stage to the region as quoted in the following interview 'chief executive officer was being a little cryptic with investors', during a shareholder conference call, 'but the message was clear: the company might have found an exciting copper deposit in Brazil' (reference: Click Here).
Since September 2017, Anglo American, Nexa Resources and the world's largest copper producer, Chile state-owned Codelco, have surrounded Altamira's land positioning. Throughout the year the entire district has been very active with technical teams of various major mining companies carrying out geochemical sampling, ground geophysical surveys, diamond drilling and airborne geophysics throughout the belt.
Initial early stage mapping along road traverses within the areas to the east of the block has shown the presence of intense sericitic alteration, associated with disseminated sulphides and quartz stockworks within the volcanic and granitic host rocks.
Michael Bennett Altamira Gold's President and CEO commented 'We are extremely pleased to have been able to acquire these new exploration areas which significantly expands the potential of the Firmino Project. The new ground now expands our land position to three major projects on the northern flank of the Alta Floresta Belt.'
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold deposits within western central Brazil. The Company holds 12 projects comprising approximately 200,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company's advanced Cajueiro project has an NI 43-101 compliant resources of 8.64Mt @ 0.78 g/t Au (for 214,000oz) in the Indicated Resource category and 9.53Mt @ 0.66 g/t Au (for 204,000oz) in the Inferred Resource category and an additional 1.37Mt @ 1.61 g/t Au in oxides (for 79,000oz in saprolite) in the Inferred Resource category.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
President & CEO
Guillermo Hughes, P. Geo., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward-looking statements.