“Altamira Gold is an explorer in northern Mato Grosso, Brazil with 11 projects spanning 300,000+ hectares in the Juruena belt which historically produced 10Moz of gold and is prospective for copper & gold porphyry’s. Altamira is the only junior in the central part of the belt. The three main projects are Cajueiro, Apiacas, and Santa Helena.
The flagship Cajueiro project hosts an existing 100% owned NI 43-101 gold resource of 497koz and is currently undergoing a resource update. Altamira announced in August 2019 a strategic partnership with the FMS Group, one of Brazil’s largest private gold producers’, who will provide operating expertise as they put Cajueiro into production by H1 2020. This will demonstrate Cajueiro’s ability to produce gold profitably, and provide Altamira with a low-risk path to revenue with no upfront capital commitment by Altamira. Altamira is entitled to 50% of the production profits after the construction capital of US$2.4M has been repaid.
Apiacás is a highly prospective land package which comprises properties covering seven main target areas. Recent work completed has been surface sampling from the Mutum target within the Apiacas gold project which confirmed widespread disseminated gold mineralization over a surface area of four square kilometers. Results from 93 additional surface rock grab samples within the area of alteration at Mutum returned gold values up to 406.6 g/t gold with 43 samples returning gold values +0.3 g/t gold. There has been no previous drilling on this project. Wide-spaced trenching over prospective structures along a two km trend has achieved promising results, including 9m @ 9.44 g/t Au, and 9m @ 4.5 g/t Au. The initial impression of the Company is that there is potential for discovery and delineation of significant high-grade gold resources at Apiacás.
Santa Helena is prospective for copper porphyry deposits. It is near Anglo American’s Jaca porphyry discovery which highlights the belt’s potential to host copper porphyry’s. Altamira is currently in joint-venture discussions with copper majors exploring value-enhancing earn-in transactions to tap into the potential Santa Helena offers. This high-potential group of properties at Santa Helena has never been subject to any previous drilling.”