Altamira Gold completes first deep drill hole at Maria Bonita; extends alteration zone at Tavares Norte Target, Cajueiro District Brazil

Altamira Gold Corp. [TSXV: ALTA; FSE: T6UP; OTCQB: EQTRF] reported ongoing exploration activities across the Cajueiro District area, Mato Grosso, Brazil.

Highlights: Drill hole MBA032, located 100 metres south of hole MBA029, which previously reported 213 metres at 0.8 g/t gold from surface including 146 metres at 1 g/t gold, intersected over 500 metres of brecciated and highly altered porphyritic intrusive rocks from 34.3 metres to 534.7 metres depth, with quartz veinlet densities averaging roughly 4 per metre. Results are pending.

Surface mapping and sampling at the Tavares Norte target, located 4km east of Maria Bonita and 1.5km north-west of the Cajueiro Central resource, suggests that the sericite alteration zone extends 1.5km further east than previously known and is connected to the Morro Verde target, located 1.5km east of Tavares Norte.

Of 94 surface grab samples collected at Tavares Norte, 20 returned gold values above 0.1 g/t Au, with a maximum of 27.5 g/t Au. This sample also returned an assay value of 929 ppm Cu. Several samples are also anomalous in molybdenum with values ranging from 10 to 356 ppm Mo.

At Morro Verde, 62 surface grab samples+ were collected, 13 returned gold values above 0.1 g/t Au, with a maximum value of 5.2 g/t Au. This sample also returned assay values of 356 ppm Mo, and 366 ppm Cu.

A high-resolution drone magnetic survey is underway, covering a total planned area of 56 km with 545 km of north-south survey lines. To date, 43 km, or 75% of the planned area, has been completed. This survey is providing detailed magnetic mapping to support target definition and geological interpretation.

Mike Bennett, CEO, commented, “The first deep hole at Maria Bonita intersected over 500 metres of highly altered porphyritic rocks and suggests that the intrusive system there could be significantly larger than currently envisaged. Additional holes will be completed at Maria Bonita once we have received the results from this first deep hole. In addition, the surface mapping and sample results from the untested Tavares Norte target, located 1.5km east of Maria Bonia are highly encouraging and suggest the possible presence of another porphyry system. Initial drill testing of this target is being planned as part of the current program.”

The Cajueiro project is located approximately 75km NW of the town of Alta Floresta in the state of Mato Grosso in central western Brazil. The project is easily accessible by road, lies on open farmland and has grid power and a local water supply. Cajueiro is the most advanced of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena.

The Cajueiro district consists of two independently estimated gold mineral resources at Cajueiro Central and Maria Bonita, plus a series of eight additional untested exploration targets within a radius of 8km of Cajueiro Central.

The Cajueiro Central area has a current open pit resource1 of 5.66Mt at 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt at 1.26 g/t gold for a total of 515,000 oz in the Inferred Resource category (estimated using a cut-off grade of 0.25 g/t Au and a gold price of US$1,500/oz).

The Maria Bonita open-pit resource consists of Indicated Resources of 24.19Mt at 0.46g/t gold (for a total of 357,800oz) and Inferred Resources of 25.64Mt at 0.44g/t gold (for a total of 362,400oz). These resources were calculated using a 0.2 g/t gold cut-off grade and a gold price of US$2,780/oz. These resources include near-surface saprolite Indicated Resources of 2.02Mt at 0.59g/t gold (38,000oz) and Inferred Resources of 0.68Mt at 0.40 g/t gold (8,700oz).

The mineralized zone at Maria Bonita is interpreted as dipping to the south and is open down dip. The best drillhole to date (MBA029) intersected 213 metres at 0.8 g/t gold from surface including 146 metres at 1g/t gold. This third phase drill program is aimed at testing the area to the south and down-dip from the current resource model.

The Maria Bonita porphyry gold deposit is interpreted as part of a district-scale, porphyry-related mineralizing event. There are currently eight additional porphyry gold targets awaiting scout drill testing over an 8km radius from the Cajueiro Central resource. Three partially tested drill targets lie outside the current Cajueiro Central mineral resource. Drilling is planned for these targets and will commence as soon as a second rig becomes available.

Drilling recently commenced with hole MBA032, located 100 metres south of hole MBA-029. The objective of this hole was to test the depth extension of the mineralized section seen in hole MBA029 and geological logging of drillhole MBA032 has identified some 500 metres of the quartz porphyry body which displays on average, roughly four quartz veinlets per metre. All samples from MBA032 have been submitted to the laboratory and assay results are pending.

The Tavares Norte prospect is located 1km NW of the Central resource area. The current soil anomaly extends for some 1300 metres x 1800 metres. Previous surface rock chip grab sampling across the prospect returned an average grade of 3.2 g/t gold from ten samples with a highest value of 7.8 g/t gold.

A total of 94 grab samples were collected at Tavares Norte during recent geological mapping. Of these, 20 returned values above 0.1 g/t gold, with a maximum of 27.5 g/t gold. This sample also returned an assay value of 929 ppm of copper. Gold-bearing samples are associated with sericitic to phyllic alteration, as well as magmatic breccias showing potassic alteration. Eleven samples also returned anomalous molybdenum values ranging from 10 to 356 g/t Mo. Molybdenum is commonly found in the higher temperature parts of porphyry systems.

The Tavares Norte and Morro Verde targets are located approximately 1.5 km apart. Recent mapping indicates that a zone of sericite alteration extends between both targets. All grab samples with assay results reported occur within this sericitic alteration envelope. Sample 128710 from Morro Verde, returned assay values of 5.20 g/t Au, 356 ppm Mo, and 366 ppm Cu.

As part of the ongoing exploration program within the Cajueiro District, a high-resolution drone magnetic survey is in progress over a total area of 56 km, comprising 545 km of north-south survey lines. To date, 43 km, or 75% of the planned area, has been completed, corresponding to 407 km of survey lines. This survey is intended to provide detailed magnetic mapping to support target definition and geological interpretation.

Altamira Gold is focused on the exploration and development of gold and copper projects within western central Brazil, strategically advancing five projects spanning over 100,000 hectares within the prolific Juruena Gold Belt-an area that has historically yielded over 6 million ounces of placer gold.

The company’s advanced Cajueiro project contains two gold deposits. The central area comprises NI 43-101 resources of 5.66Mt at 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt at 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category.

In addition, the Maria Bonita gold deposit comprises additional open pit Indicated Resources of 24.19Mt at 0.46 g/t for a total of 357,800 oz, and Inferred Resources of 25.64Mt at 0.44 g/t for a total of 362,400oz.

Ongoing exploration and fieldwork at Cajueiro indicate the presence of multiple porphyry gold systems, reinforcing its potential for district-scale development. These hard-rock gold sources align with historical alluvial gold production, highlighting the region’s exceptional gold endowment and potential scalability.