Altoro drills in northeastern Brazil

Altoro Gold (ATG-V) has started a 1,200-metre drill program at its Pedra Branca platinum-palladium project, near Fortaleza in northeastern Brazil.

The shallow, 15-hole program will target the Esbarro and Trapia West zones, as well as four untested targets: Ipueiras, Trapia South, Catingueiro and Troia.

At the Esbarro zone, Altoro intends to verify previous work and test extensions of the host rock along strike, as well as downdip, while, at Trapia West, crews will follow-up on trench results that returned 84 metres grading 2.8 grams of combined platinum and palladium (Pt+Pd) per tonne. Included in this interval was a 51-metre section that ran 4.4 grams Pt+Pd. The highest assay cut 4.1 metres averaging 14.5 grams Pt+Pd.

At the Ipueiras prospect, Altoro excavated a new trench perpendicular to a known sequence of ultramafic rocks. Assay results returned 3.5 grams combined Pt+Pd over 20 metres, including a 10-metre section of 5.6 grams Pt+Pd. The highest assay interval cut 8.5 grams Pt+Pd over 2 metres.

Altoro is assembling a 25,000-ha land package in a northerly trending, U-shaped, ultramafic body known as the Pedra Branca complex. The western limb of this complex hosts all the known mineral occurrences, whereas the eastern limb is largely unexplored.

Geological mapping and trenching have enhanced Altoro’s understanding of the lithological sequence at Pedra Branca. The company has gone on to discover a series of previously unknown outcrops consisting of tremolite schist, serpentinite and chromitite — all prime targets for more platinum-palladium mineralization.

Altoro’s land package incorporates all the known chromitite mineral occurrences discovered to date. (Chromitite refers to a rock composed dominantly of chromite.) Platinum and palladium mineralization has been shown to be associated with the chromitite bands, as well as with disseminated sulphide zones in the Pedra Branca ultramafic complex.

Altoro can earn up to a 90% interest in Pedra Branca from Eldorado Gold (ELD-T) by spending US$3 million.

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