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Altamira Gold expands its land position in the Alta Floresta Belt in Mato Grosso, Brazil

Mining News - Published on Fri, 07 Dec 2018

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Altamira Gold Corp announced that the Company 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 hectares 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 hectares.

As reported in the Company’s news release dated February 21, 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 & by the University of Campinas – December 2015 emphasized the potential within the belt to host porphyry-related Paleoproterozoic gold and base metal mineralization, 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 ‘chief executive officer 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.

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Posted By : Nanda Koijam on Fri, 07 Dec 2018
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