Alturas Minerals reports drill results

Alturas Minerals Corp. reported assay results from a 4,709 meter reverse circulation drilling program recently completed at its 100% owned Banos del Indio in southern Peru.

The program comprised 18 widely spaced holes drilled to depths of between 169 and 350 meters, targeting multiple combinations of geochemical, geophysical (high resistivity) and structural anomalies in the Honguitos, Llaurimorco and San Benedicto epithermal centers.

The program successfully intersected extensive zones of siliceous alteration in most drill holes as predicted from the geological model developed by Alturas, with scattered anomalous intervals of gold (up to 0.16 grams/tonne), epithermal pathfinder elements (arsenic, antimony, barium, bismuth, mercury, molybdenum, silver) and base metals.

Miguel Cardozo, President of Alturas commented, although our first phase drilling of the northern sector of the Banos del Indio project did not intersect economic mineralization, this is a very large high sulfidation epithermal system and we have explored only 30% of its total area in this campaign.

Mr. Cardozo continued by saying drill holes have been spaced widely and most of the targets drilled were blind and conceptual in nature.

Nonetheless, we are encouraged by the wide intervals of the prospective siliceous alteration intersected, he added.

In several cases, the siliceous alteration has returned anomalous values in gold, silver and other important epithermal pathfinder elements, confirming that we are in the upper levels of a potentially productive system, continued Mr. Cardozo.

Alturas is now evaluating the data from the drill program with the aim of refining the target model and developing a second phase drilling program, he concluded.

The 6,536 hectare Banos del Indio Gold Project is located approximately 20 kilometres north-northwest of Alturas’s Huilacollo Gold-Silver Project in the Department of Tacna in southern Peru.

Alturas has acquired 100% of the mining rights of the property through an option contract that the company previously exercised.

The project comprises a very large (greater than 6 x 5 kilometers) zone of high sulfidation alteration associated with surface gold-silver mineralization.

Seven known high-sulfidation epithermal centres are present, each containing extensive areas of prospective siliceous alteration and breccias.

To date, only three of these centers has been explored by drilling.