Alturas Minerals Corp.
TSX VENTURE : ALT

Alturas Minerals Corp.

October 19, 2006 09:00 ET

Alturas Geophysical Survey Expands Gold Potential at Huilacollo Gold Project, Peru

TORONTO, ONTARIO--(CCNMatthews - Oct. 19, 2006) - Alturas Minerals Corp. (TSX VENTURE:ALT) today announced the results of a Induced Polarization/ Resistivity Survey over the Cerro Andamarca and Andamarca Norte targets on the Huilacollo Gold Project in southern Peru. The results significantly expand the lateral and vertical extent of the known hydrothermal system and have outlined extensive zones of coincident high resistivity and low chargeability, interpreted as gold-prospective siliceous alteration. Large parts of these shallow concealed geophysical anomalies were untested by previous drilling, and are being targeted in the ongoing 3,000 metre drilling program.

Miguel Cardozo, President & CEO, commented "This is the first time that geophysics has been applied to the exploration of the Huilacollo Gold Project and the results are very encouraging for us. In this type of high sulfidation epithermal system, zones of high resistivity generally reflect strong silicification, which is the dominant host alteration for the known gold mineralization that outcrops on the crest of Cerro Andamarca. This survey enables us to map these zones out under the thin cover away from the previously drilled zone, which occupies less than 25% of the anomalous areas now defined by the survey. The results indicate that there is a very real possibility of locating new gold and silver mineralized bodies and their feeder structures that have not yet been explored in the shallow subsurface."

The survey clearly outlines two distinct areas of coincident high resistivity (+4000 Ohm metres) and low chargeability (-5 mV/V) in the northern sector of the Huilacollo property. The southernmost of these is the Cerro Andamarca anomaly, which is roughly circular in shape and approximately 800 x 700 metres in lateral dimension. The Cerro Andamarca anomaly starts close to surface and continues for at least 200 metres below surface, forming a generally shallow-dipping body. The Andamarca Norte anomaly is located to the northwest and is a broadly oval-shaped body approximately 1100 x 350 metres in lateral dimension, elongated east-west. The anomaly dips shallowly to the west, starts close to surface and extends to at least 100 metres vertically.

For maps and sections detailing the geophysical results discussed above, refer to the Company's website www.alturasminerals.com/huila_3.htm

The geophysical data reported here was acquired and processed by Fugro Ground Geophysics, a reputed international company with a regional office in Peru. The data comprises the northern part of a larger geophysical survey, and was conducted on east-west lines for approximately 36 line kilometers, with a line spacing of 100 metres using a pole-dipole configuration. Dipole spacing used was 100 metres. Fugro utilized offset current and potential lines, allowing full three-dimensional acquisition of data and effective delineation of anomalies between lines. Data was processed by Fugro Consultant Mr. Bob White of Australia, in order to produce a three dimensional block model; sections and plans were subsequently prepared from this model.

Systematic trench geochemical sampling currently underway is expected to be completed by the end of October. Ground geophysics acquisition has been now been completed and the remaining results from the southern part of the property will be reported in a subsequent press release. The 3,000 metre drill program currently underway is expected to be completed in December and will test the geochemical and geophysical targets defined by this work.

The 2,000 hectare Huilacollo Gold Project is located approximately 970 kilometres southeast of Lima and 55 kilometres northeast of the city of Tacna. Alturas holds an option to acquire 100% of the property. Huilacollo is a high sulfidation epithermal gold system outcropping over a strike length exceeding five kilometres in length, and Cerro Andamarca and Andamarca Norte are two of three hydrothermal centers recognized to date within this zone.

As required by the National Instrument 43-101, Alturas's designated Qualified Person for the supervision of exploration of the projects is Dr. Paul Pearson, F. AUSIMM, Vice President-Exploration of the Company, who has verified the technical information reported in this News Release.

About Alturas Minerals Corp.

Alturas is a Canadian corporation, and is the parent of Alturas Minerals S.A. ("Alturas Peru"). Alturas Peru has been actively exploring various mineral projects in Peru since January 2004. The principal assets of Alturas are four mineral exploration projects located in southern Peru, being the Huilacollo Gold Project, the Banos del Indio Gold Project, the Utupara Copper-Gold Project and the Huajoto Gold-Silver-Zinc Project. In addition, Alturas Peru has interests in fourteen other exploration projects in Peru. Alturas' exploration strategy is focused on the discovery of large epithermal gold mineralized deposits and copper-gold porphyry/skarn deposits. For further information, please visit the Company's website at www.alturasminerals.com.

Should you wish to receive Company news via email, please email catarina@chfir.com and specify "Alturas News" in the subject line

Cautionary Language and Forward Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alturas Minerals Corp.
    Miguel Cardozo
    President & Chief Executive Officer
    011-511-475-1700 (Peru)
    or
    CHF Investor Relations
    Linda Armstrong
    Vice President
    (416) 868-1079 ext. 229
    Email: linda@chfir.com