- Altamira Gold Corp. (ALTA) has signed a purchase agreement with the private owners of surface rights covering the Maria Bonita target
- The Maria Bonita target forms part of the Cajueiro Project in Para State, Brazil
- The recent receipt of drill results for the initial four drill holes at Maria Bonita returned consistent gold mineralization in porphyritic rocks
- Altamira Gold Corp. is focused on the exploration and development of gold projects within western central Brazil
- Altamira Gold Corp. was down 7.143 per cent, trading at $0.195 at 12:19 PM ET
Altamira Gold Corp. (ALTA) has signed a purchase agreement with the private owners of surface rights covering the Maria Bonita target.
The Maria Bonita target forms part of the Cajueiro Project in Para State, Brazil.
The recent receipt of drill results for the initial four drill holes at Maria Bonita returned consistent gold mineralization in porphyritic rocks.
Subsequently, Altamira Gold entered into a definitive agreement to purchase a total of 409 hectares of surface rights that include the currently known extension of the Maria Bonita target.
In line with the agreement, the company will make four equal payments to the vendors over a period of 18 months for a total of R$2,500,000 (equivalent to C$ 625,750).
The initial payment of R$ 625,000 (equivalent to C$156,438) was made on November 14, 2022, upon execution of the Agreement.
The agreement provides the company with immediate unencumbered access to undertake further exploration over the Maria Bonita discovery and facilitates the fast-tracking of future development of the Cajueiro Project.
“It is clear from the initial drill results that we have discovered a significant new mineralized system at Maria Bonita, and the acquisition of these surface rights provides us with the flexibility to design further exploration drilling within our own timeline,” stated CEO Mike Bennett.
Cajueiro forms one of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena.
Altamira Gold Corp. is focused on the exploration and development of gold projects within western central Brazil.
Altamira Gold Corp. was down 7.143 per cent, trading at $0.195 at 12:19 PM ET.
