Altamira Gold Receives Environmental License for Trial Mining in Brazil

What's Happening?

Altamira Gold has been granted an environmental installation license by the Pará State Secretariat of Environment, Climate and Sustainability for its Cajueiro Project in central Brazil. This license allows Altamira to conduct trial mining activities, potentially generating near-term cash flow and providing valuable geological insights. The Cajueiro Central area currently holds an open pit resource of 5.66 million tonnes at 1.02 grams per tonne gold in the indicated category and 12.66 million tonnes at 1.26 grams per tonne gold in the inferred category. The trial mining is expected to refine the understanding of the deposit and identify additional gold-bearing structures.

Why It's Important?

The approval of the environmental license is a significant step for Altamira Gold, as it opens the door to trial mining operations that could enhance the company's understanding of the gold mineralization at the Cajueiro Central deposit. This development is crucial for Altamira's strategic goals in Brazil, potentially leading to increased resource estimates and long-term project viability. The trial mining could also provide immediate financial benefits, supporting Altamira's exploration and development activities in the region.

What's Next?

Altamira Gold plans to construct a processing plant capable of handling up to 100,000 tonnes of material per year. While no decision has been made to proceed with trial mining, the company is evaluating the potential benefits and challenges. The trial mining activities are expected to generate geological data that could lead to further exploration and development opportunities. Stakeholders, including investors and local communities, will be closely monitoring the project's progress and its impact on regional economic development.