Crepori Project Results And Update On Drill Program

 

VANCOUVER - Altamira Gold Corp. reported clarification of disclosure in previous release. The high grade samples disclosed are grab samples, grab samples are selective samples and are not representative of the mineralization hosted on the property, which was previously extensively worked for placer gold by artisanal  miners. The current drilling program is aimed at identifying the source of this placer gold.

Of the 115 surface grab samples recently collected at Crepori, 56 samples were of saprolite or weathered bedrock, with the remainder comprising rock samples. The surface grab samples were collected mainly from four zones; Filao do Milton (24 samples), Ze de Ouro (10 samples) Filao de Parente – Boiadeiro (33 samples) and Raimundo (24 samples). Samples were collected from both outcropping veins and surrounding wall rock and range from below the analytical method detection limit (5ppb) to 148.2g/t gold. Of the 115 samples collected, nine returned values above 5g/t gold, eight returned values of 1 – 5 g/t gold, twenty-six returned values of 0.1 – 1g/t gold and the remaining seventy-two samples returned values of less than 0.1g/t gold. All of the samples which returned values above 1g/t gold were rock samples.

The company follows industry standard procedures with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted in each batch of samples.  Sample preparation and analysis was done at SGS GEOSOL in Vespasiano, Minas Gerais State, Brazil. Analysis is performed by fire assay with 50g fusion and Atomic Absorption Spectroscopy.

Altamira has completed two diamond drill holes thus far at the Crepori project, which has never been subject to any prior drill program. Holes at the Filao do Milton and Raimundo targets have been completed and the drill is currently testing the Ze de Bode target.