Junior
The company is searching for shallow platinum-palladium deposits that are minable by open-pit methods. Initial work will include a ground magnetic geophysical survey and reconnaissance mapping, followed by trenching and channel-sampling of platinum-palladium-bearing chromitite and serpentinite outcrops.
Situated in an 80-sq.-km area, the property is centred on a sequence of ultramafic rocks that host disseminated sulphides within chromitite layers. The known mineralization has a strike length of 40 km, half of which is covered by the Pedra Branca claims.
Altoro will first focus on the Trapia 1 West zone, where previous trenching returned 116.9 metres averaging 1.1 grams platinum-palladium per tonne, 30.4 metres grading 1 gram, 97.1 metres grading 1.1 grams and 83.9 metres grading 2.1 grams, as well as the Esbarro zone, where previous drilling intersected up to 30 metres averaging 2 grams platinum-palladium.
At Trapia in the 1980s, South African-based Gencor carried out trenching, soil sampling and limited drilling (eight holes), though no drilling was performed on the Trapia West zone.
Altoro can earn a 70% interest in the Trapia claims from
Previous drilling on Esbarro by
Prospecting around the Esbarro zone has identified four target areas: The Cedro 1 and 2 prospects, 1.5 km west of Esbarro, returned an average of 10.3 grams platinum-palladium; the Curio prospect, 3.2 km northeast of Esbarro, returned 9.2 grams platinum-palladium; and the Pitambeuras prospect, 4 km to the north, returned up to 2.7 grams.
In related news, Altoro has negotiated a private placement worth $790,000, which will be used to fund exploration in Brazil and Bolivia.
The company has 12.8 million shares outstanding, no long-term debt and $1.2 million in cash.
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