GOLD: Altamira expands resource at Cajueiro project

BRAZIL – Altamira Gold announced an increase in the resource estimate for its advanced Cajueiro project, located in the northern part of the Mato Grosso state in western Brazil. In a media statement, Altamira said that a study conducted by Global Resource Engineering showed an 83% increase in the total amount of contained ounces of gold and a 61% increase in the gold grade. According to the miner, inferred resources total 12.7 million tonnes at 1.26 g/t gold for a total of 515,000 oz. of gold of which 1.7 million tonnes at 1.12 g/t gold is weathered rock and 11.0million tonnes at 1.29 g/t is fresh rock. Indicated resources, on the other hand, are reported as totaling 5.7 million tonnes at 1.02 g/t gold for a total of 185,000 oz. of gold of which 854,000t at 0.92 g/t gold is weathered rock and 4.8 million tonnes at 1.04 g/t is fresh rock. “The 2019 indicated resources represent a 13.5% decrease in the total amount of contained ounces but also represent a 33% increase in grade,” the media brief states in a section where the current results are compared to those of 2016. “Inferred resources represent an 83% increase in the total amount of contained ounces and also represent a 61% increase in grade.” Altamira said that the resource estimate utilizes all exploration information to date which includes 13,390 metres of diamond core drilling and 5,282 metres of surface trenches. This story originally appeared on www.Mining.com.