- Altamira Gold (TSXV:ALTA) has released its assay results from the latest round of surface sampling at its Santa Helana project in Brazil
- Rock chipping at the site’s first target returned 124.6 grams per tonne of gold
- The average result across the 18 rock chip samples was 46.8 grams per tonne of gold
- Due to these strong early results, Altamira’s CEO and President, Michael Bennett described the site as a potential company maker
- Altamira Gold (ALTA) is up 18.75 per cent and is trading at C$0.095 per share, with a market cap of $9.4 million
Altamira Gold (TSXV:ALTA) has released assay results from the latest round of surface sampling at its Santa Helana project in Brazil.
The junior gold explorer reported results as good as 124.5 grams per tonne gold and 2.2 per cent copper.
18 rock chips were collected and sampled from surface blocks at Dorival South, a new exploration area within the Santa Helana project.
11 of these samples were collected from what Altamira is calling a high-grade vein structure. The average result from the rock chip sampling was a 46.8 grams per tonne of gold.
400 metres to the south east of where the rock chips were taken, Altamira found stock work quartz, which returned copper results of up to 2.2 per cent. This is the best copper result ever found at Santa Helena, thus far.
Unearthing this result in a new area of exploration suggests the mineralised zone is in fact larger than previously estimated.
Altamira believes its sitting on a seven kilometre by four kilometre area of mineralization, suggesting the presence of large hydrothermal system.
The five main targets for Altamira at Santa Helena are the Flecha Dourada, the Gabriel, Dorival, Turuca and the new Dorival South target.
Altamira’s CEO and President, Michael Bennett said the company had two company makers in its Santa Helana and Apiacas projects.
“The Santa Helana project is located just 60 kilometres south west of Anglo America’s major porphyry copper discovery at Jaca and could host a porphyry-related gold-copper deposit surrounded by peripheral high-grade gold mineralization.
“The identification of this new high-grade target at Santa Helena expands the size of the mineralised target area by approximately 20 per cent, and we look forward to drilling this project later this year,” he said.
Altamira Gold (ALTA) is up 18.75 per cent and is trading at C$0.095 per share at 2:06pm EDT.