Altamira Gold is focused on the exploration and development of gold projects within western central Brazil. The Company was the first mover in the gold prolific Alta Floresta Belt which historically produced an estimated 7 to 10Moz of placer gold and holds 9 projects comprising approximately 280,000 hectares, with neighbors which include Anglo American, Codelco and Nexa.
The Company’s advanced Cajueiro project has current NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category, and 12.66Mt @ 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category, with significant expansion potential along strike and down dip.
Altamira expects to start construction of a 1000t/d processing plant at the Cajueiro project later this year aimed at processing oxide resources in saprolite from the Baldo and Crente zones at Cajueiro and expects to be in production in late 2020. This should eliminate the need for future equity financings and should result in a re-rating of the stock.
The Company’s portfolio includes another two key projects: the Apiacas gold project and the Santa Helena copper/gold project, neither of which has been previously drilled and both exhibit potential for a very large deposit. Drilling at both projects is planned within the next 12 months.
With 43-101 compliant resources at Cajueiro currently totaling 0.7Moz, the Company is currently valued at US$13/oz in the ground and has numerous near term catalysts. These include near-term production, likely expansion to the Cajueiro resource, and the initial drill testing of two other excellent targets at Apiacas and Santa Helena.