FULL DISCLOSURE: This is sponsored content for Altamira Gold Corp..
Altamira Gold (TSXV: ALTA) said drilling has confirmed a new mineralized porphyry body at the western end of its Maria Bonita gold deposit, pushing a system the company has been steadily enlarging all year further out along strike.
Assays from holes MBA-042 and MBA-043 returned the two widest continuous mineralized intersections drilled at the project to date. Both sit on the far side of a northeast-trending fault, occupied by late post-mineral dykes, that separates the newly defined Maria Bonita West body from the established deposit to the east.
Highlights from the results include:
- MBA-043: 0.4 g/t gold over 231.5 metres from a depth of 93 metres
- MBA-042: 0.3 g/t gold over 200.4 metres from a depth of 113.2 metres
- And 0.3 g/t gold over 45.4 metres from a depth of 61.9 metres
- And 0.4 g/t gold over 36.2 metres from surface
Peak individual samples reached 2.5 g/t gold in MBA-043 and 1.8 g/t in MBA-042, and mineralization shows good continuity between the two holes. The body remains open to the west and at depth. Two earlier holes, MBA-040 and MBA-041, helped fix the northern limit of the veined zone, with MBA040 intersecting 0.1 g/t gold over 40.0 metres, and MBA-041 testing 0.2 g/t gold over 10.6 metres.
“We have now confirmed a new mineralized porphyry body at Maria Bonita West, with drill holes MBA-042 and MBA-043 delivering two of the widest coherent mineralized intersections encountered in our drilling to date,” President and Chief Executive Officer Michael Bennett said in a statement. “With our recently secured land access to the adjacent property, we are now in a strong position to continue drilling westward.”
That access, secured last month, covers 58 square kilometres immediately west of the deposit, including the Novo Sonho target and its three-kilometre gold-in-soil anomaly.
Maria Bonita currently hosts indicated resources of 24.19 million tonnes grading 0.46 g/t gold, or 357,800 ounces, plus inferred resources of 25.64 million tonnes at 0.44 g/t.
Altamira plans further drilling, soil sampling and drone and ground geophysics to trace the anomaly westward.
Altamira Gold last traded at $0.195 on the TSX Venture.
FULL DISCLOSURE: Altamira Gold Corp. is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Altamira Gold Corp.. The author has been compensated to cover Altamira Gold Corp. on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
