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Altamira expands its claims in Brazil

Published by , Assistant Editor
Global Mining Review,

Brazilian gold exploration and development company, Altamira Gold Corp. (Altamira) has claimed significant additional ground within the Juruena belt in Mato Grosso, Brazil. These new claims total 52 378 ha and have reportedly increased the company’s strategic land positioning to over 200 000 ha in the Juruena Belt.

In September 2017, two major mining companies, Anglo American & Nexa Resources acquired over 3 million ha of claims, largely surrounding Altamira’s twelve projects. The catalyst for this staking rush is a rumored porphyry copper discovery in the eastern part of the Juruena Belt.

Altamira Increases Land Positioning at Fazenda Mogno and Santa Helena in Mato Grosso, Brazil.

The new claims are in areas where the company already has small existing land positions, namely Fazenda Mogno and Santa Helena. The largest of the two new areas was at Fazenda Mogno where the land position has increased to a total of 41 945 ha. The Santa Helena project has also been expanded and now comprises a total of 21 039 ha.

Altamira has also commenced a copper exploration programme at the Santa Helena Project located in eastern part of the Juruena belt in central Brazil. The project is characterised by gold mineralisation on surface which Altamira believes may be related to a concealed porphyry copper system.

President and CEO of Altamira, Michael Bennett, commented: “The discovery of the first ever copper porphyry in the Juruena belt is significant because porphyry copper deposits generally occur in clusters or belts. Where there is one, there are usually others. Gold deposits are frequently found peripheral to major porphyry copper systems and it may be that most of the gold occurrences in the belt are peripheral to yet unrecognised porphyry copper systems. We are excited to be the only junior with claims strategically situated in the heart of the belt and look forward to the results of our ongoing exploration programme. We will continue to expand our gold project at Cajueiro whilst pursuing an aggressive exploration programme aimed at identifying concealed copper porphyry mineralisation.”

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