Cajueiro Metal Stream

Altamira Gold’s Cajueiro gold project is located in Northern Mato Grosso State, Brazil, home of the Alta Floresta Gold Province, with historical gold production of up to 10 million oz.

Gold Mining in Brazil

Gold mining in Brazil and Northern Mato Grosso is long established, with excellent infrastructure and regulation. Some of the world’s most successful mining companies operate in Brazil, including Kinross Gold, Yamana, Equinox Gold, and Great Panther Mining.

The Ata Floresta Gold Province
Altamira's Properties including the Cajueiro Project

The Alta Floresta Gold Province

The Alta Floresta gold province is located in the South of the Amazon Craton, in the state of Mato Grosso. It is an established gold producing jurisdiction with an estimated 7-10 million oz of placer gold recovered historically mainly by artisanal miners.

Alta Floresta Mining Overview

The Alta Floresta gold province is considered the most desirable gold exploration district in Brazil with large scale historical production from over 40 known deposits.

The area consists of primarily pluto-volcanic sequences generated in a continental arc setting during the Paleoproterozoic.

Between 1980-2000 the province produced approximately 160 tons of gold from alluvial and high grade primary deposits.

Mining activities in Brazil are primarily regulated by the Mining Code of 1967 and the Mining Code Regulation of 1968, which were updated in 2018 to attract more foreign investment and better address environmental concerns.

Exploration and mining activities require the authorization and/or concession of the Federal Government of Brazil, with gold mining being regulated by the federal National Mining Agency (ANM) under the Ministry of Mines and Energy.

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Altamira’s Cajueiro Gold Project

Altamira completed a NI 43-101 Mineral Resource Estimate Report on the Cajueiro project in October 2019, which indicates resources of 700,000 oz of gold.  MetalStream has executed a forward purchase agreement with Altamira for 10,000 oz of gold, which will be used to back the issuance of 2 million MSGLD tokens.

Canadian Listed company

Altamira Gold Corp is a publicly listed company incorporated in British Columbia, Canada and trading on the Toronto TSX Venture stock exchange (TSX.V:ALTA). It’s primary business is gold exploration, development and mining.

Strong Local Partner

FMS Investimentos e Participações Ltda. (“FMS”), Brazil’s largest private gold mining company has a 10% stake in Altamira Gold.

Experienced leadership team

Altamira Gold enjoys a strong and highly experienced team of industry professionals in its leadership, with an average of 30 years experience each. Led by geologist and South American specialist Michael Bennett and industry heavyweight Dr. Alan Carter.

First Mover in Alta Floresta Gold Belt

Altamira is the only junior miner in the centre of the Alta Floresta Gold belt, having built out its land package prior to several majors staking claims.

2007

First diamond drilling carried out on the project from 2007 to 2011 by private company ECI Exploration and Mining. 

2014

Project was acquired from ECI in 2014 by Alta Floresta Gold.

2016

Alta Floresta Gold was acquired by the public entity which is now Altamira Gold.

2018

Altamira Discovers two new high-grade structures with up to 1 m at 106.31 g/t gold in October 2018.

2019

Updated NI 43-101 resource estimate in October 2019 of 5.66 t at 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66 t at 1.26 g/t gold for a total of 515,000 oz in the Inferred Resource category, up 41% on the previous estimate. Environmental Permit No. 320459 received in respect of Mining Permit No. 866.160/2007 for trial mining at Cajueiro. Permit valid for three years until October 2022.

2020

First Trial Mining Licence No. 041/2019 received in January 2020 for the 700,000 oz of gold from the Cajueiro Project. Altamira finances the Cajueiro Project development in April 2020 through a forward purchase agreement with MetalStream Ltd for 10,000 oz gold. MetalStream will use the gold to back issuance of 2 million MSGLD tokens.

Prolific Mineral Location

Cajueiro is Altamira’s flagship mining project in Brazil’s prolific Alta Floresta Gold Belt in the state of Mato Grosso in western Brazil which historically produced an estimated 7-10 million oz of placer gold.

Resources

The Cajueiro project has 43-101 compliant resources of 5.66 t at 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66 t at 1.26 g/t gold for a total of 515,000 oz in the Inferred Resource category (see press release dated 10 October 2019). Gold mineralization is open in several directions and at depth.

Licensed & Compliant

Fully licenced and compliant with Licence No 041/2019 is respect of Mining Permit No. 866.160/2007, valid until October 2022.

Access & Infrastructure

The project is located some 100 kms from the city of Alta Floresta where a commercial airport provides daily flights to the capital city of the state of Mato Grosso, Cuiaba (approx. 1.5 hr drive via well-maintained asphalt and gravel roads). Alta Floresta has all amenities needed for support facilities for the mining operation in Cajueiro. A large hydro-electric project on the Teles Pires River some 20 km to the west of the project supplies three phase power through the project area. Camp facilities are currently provided by renting accommodation in the local community.

 

 Project Summary

For a more detailed summary of the Cajueiro project, please refer to the Altamira Website.

 2019 NI 43-101 Report

The full 2019 NI 43-101 Technical Report on the Cajueiro project is available for download and reference.

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