Altamira Gold (TSXV: ALTA) filed a National Instrument 43-101 Technical Report on its advanced Cajueiro project, located in the northern Mato Grosso state in western Brazil.
In a press release, the company said that the Technical Report, dated November 22, 2019, effective October 10, 2019, supports the scientific and technical disclosure in the mineral resource estimates.
Back in October, the miner announced 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.
Inferred resources were estimated at 12,665,000 tonnes at 1.26 g/t gold for a total of 515,000 ounces of gold of which 1,673,000 tonnes at 1.12 g/t gold is weathered rock and 10,992,000 tonnes at 1.29 g/t is fresh rock.
Indicated resources, on the other hand, were reported as totaling 5,661,000 tonnes at 1.02 g/t gold for a total of 185,000 ounces of gold of which 854,000t at 0.92 g/t gold is weathered rock and 4,806,000 tonnes at 1.04 g/t is fresh rock.
The Cajueiro project comprises a large land package located in the Alta Floresta – Juruena Gold Belt, a Proterozoic arc consisting of calc-alkaline granite-volcanic, and medium to high grade metamorphic crustal segments.
Historic gold production in the belt is recognized to be in the range of 7-10MM oz., primarily from garimpeiro activity.