Altamira Begins Releasing Results
I predicted a rise in the price of gold and of certain companies who had suffered during Tax Loss Silly Season back in December. One of the companies I wrote about that was a tiny $.17 then has surged with the increase in gold to $.31 now on no news. But good news is starting to flow for Altamira Gold (ALTA-V).
Altamira holds a dozen projects within the Juruena gold belt in Brazil with a total land position of 200,000 hectares. The Juruena gold belt is estimated to have produced some seven to ten million ounces of placer gold. The gold came from somewhere and Altamira intends to find it and mine it.
Altamira already shows a 43-101 resource of just over 500,000 ounces of gold. Today the company released the first of many assay results including trench samples of up to 3.03 g/t gold over 29 meters. A seven hole drill program has been completed and results will be released shortly.
It’s going to cost money to do but there is a lot of gold in Brazil and Altamira will continue to add ounces for a long time. They are advertisers, I own shares bought in the open market and I have participated in PPs in the past. Do your own due diligence.