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Altamira expands its land position in Mato Grosso region (Brazil)

Published by , Assistant Editor
Global Mining Review,

Altamira Gold Corp. (Altamira) has successfully applied to claim a strategic land position within the Alta Floresta Belt in Mato Grosso (Brazil). These new claims total 70 184.70 ha and lie on the northern margin of the Alta Floresta Belt close to the contact with the sediments of the Cachimbo Graben. The company’s total land position in the belt is now over 300 000 ha.

As reported in the company’s news release dated 21 February 2018, the district that Altamira has been developing for over ten years has brought immediate interest from some of the largest copper mining companies of the world.

A significant porphyry copper discovery at Jaca located in the eastern part of the belt was the catalyst. Initial research studies by The Geological Service of Brazil (2008) and by the University of Campinas (December 2015)  emphasised the potential within the belt to host porphyry-related Paleoproterozoic gold and base metal mineralisation, however, Anglo American was the first company to explore for copper in the region and bring the attention of the world stage to the region as quoted in the following interview ‘CEO was being a little cryptic with investors’, during a shareholder conference call, ‘but the message was clear: the company might have found an exciting copper deposit in Brazil’.

Since September 2017, Anglo American, Nexa Resources and the world’s largest copper producer, Chile state-owned Codelco, have surrounded Altamira’s land positioning. Throughout the year, the entire district has been very active with technical teams of various major mining companies carrying out geochemical sampling, ground geophysical surveys, diamond drilling and airborne geophysics throughout the belt.

Initial early stage mapping along road traverses within the areas to the east of the block has shown the presence of intense sericitic alteration, associated with disseminated sulphides and quartz stockworks within the volcanic and granitic host rocks.

Michael Bennett, Altamira Gold´s President and CEO, commented: “We are extremely pleased to have been able to acquire these new exploration areas which significantly expands the potential of the Firmino project. The new ground now expands our land position to three major projects on the northern flank of the Alta Floresta Belt.”

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