Canadian Explorer Finds Two New High-Grade Gold Structures at Brazil Project [EQTRF, ALTA]

These discoveries demonstrated up to 1 meter of 106.31 gram per ton gold.

Altamira Gold Corp. (ALTA:TSX.V; EQTRF:OTCBB) recently reported three findings from trenching at its Cajueiro project in Brazil, which was done about 300 meters (300m) north of the known Matrincha resource there.

Two of the three discoveries were new high-grade, gold-bearing structures at Matrincha, south of Baldo, which trend east-west. Highlight trenches TCBL-36 and TCBL-33 returned 5m of 5.31 grams per ton (5.31 g/t) gold, including 0.1m of 24 g/t gold, as well as with 2m of 5.03 g/t gold and 1m of 8.82 g/t gold on a previously unknown east-west trending structure. With a strike length of 430m so far, the Matrincha 1 structure remains open to the west and east.

The second structure, named Matrincha 2, was delineated 75m south of Matrincha 1. There, trench TCBL-33 returned 6m of 30.19 g/t gold, including 1m at 106.31 g/t gold. Trench TCBL-36 showed 1m of 18.9 g/t gold. Matrincha 2, with a strike length of 445m, remains open to the west and east, too.

The third finding was an eastward extension of the Baldo 2 structure, taking its total length to 950 meters along strike. This Baldo East 2 zone, which remains open to the east and west, returned 4m of 8.42 g/t gold.

“The discovery of two new high-grade mineralized zones in the Baldo-Matrincha area of the Cajueiro project now brings the total number of subparallel, east-west trending, high-grade structures to seven, with a cumulative strike length of more than 4 kilometers,” said President and CEO Mike Bennett in a news release.

He added that exploration at Cajueiro to date suggests the deposit hosts a much higher average gold grade than originally thought and that Altamira will likely find additional east-west mineralized structures within the project’s confines.

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Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

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