Altamira Gold drills gold mineralization in new porphyry at Tavares Norte Target, Cajueiro District, Brazil

Altamira Gold Corp. [TSXV: ALTA; FSE: T6UP; OTCQB: EQTRF] reported assay results from initial reconnaissance drilling at the Tavares Norte target, located within the company’s Cajueiro District area, Brazil.

Highlights: Initial reconnaissance drilling at the Tavares Norte target, located 5.5km east of the Maria Bonita gold deposit, indicates the presence of a second mineralized porphyry body, which is geologically and geochemically very similar to the porphyry body that hosts the Maria Bonita mineral resource.

Drill results from the two initial reconnaissance holes at Tavares Norte include intervals of 18.6 metres at 0.4 g/t gold from 36 metres depth and 20 metres at 0.3 g/t gold from 133 metres depth in TVN002 within a broader zone of 161.7 metres of lower grade gold mineralization.

Further drilling will target the area to the east of drill hole TVN 002, where the gold-in-soil anomaly is increasing in strength.

Altered and veined quartz porphyry rocks have also been logged in initial drilling at the Morro Verde target, 1.5 km east of Tavares Norte where results are pending.

Drilling at the Maria Bonita gold deposit is ongoing. Drill hole MBA033 was completed to a depth of 497 meters and samples are being prepared for assay. Drill hole MBA034, collared 100m south of hole MBA033 is now in progress.

Mike Bennett, CEO, commented; “The results from the initial reconnaissance drilling at the Tavares Norte target are highly encouraging as they demonstrate the presence of a second gold mineralized porphyry body within the Cajueiro district. The geological and geochemical similarities to the Maria Bonita porphyry, together with the presence of strong alteration and sulfide mineralization, validates our model for the prospectivity of the east-west corridor extending through Maria Bonita.

“The Maria Bonita gold porphyry deposit is not unique within the Cajueiro district and we intend to focus additional drilling at Tavares Norte to better define the size of the porphyry body now identified there. Concurrently, ongoing drilling at Maria Bonita continues to intersect mineralized porphyry adjacent to and below the previously estimated mineral resource.”

The Cajueiro district 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 the key projects that Altamira controls in the region.

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 0.59 g/t gold (38,000oz) and Inferred Resources of 0.68Mt at 0.40g/t gold (8,700oz).

The Maria Bonita porphyry gold deposit forms part of a district-scale portfolio of prospects that are interpreted as having a similar geological origin. The Cajueiro area is characterized by a 15km stretch of former alluvial gold workings along the Teles Pires river. The source of some of this alluvial gold is related to a pronounced east-west corridor of gold anomalies in soils and rock chips and a set of sub-cropping intrusions extending east-west over 8km, implying the presence of a long-standing and deep-seated crustal structure.

The Tavares Norte prospect is located 1km north-west of the Central resource area and 5.5km east of the Maria Bonita porphyry gold deposit. The prospect is defined by a gold-in-soil anomaly extending over an area of 1800 x 1300 metres. Previous surface rock chip grab sampling across the prospect returned grades of up to 7.8 g/t gold.

Two drill holes (TVN001 and TVN002) were completed at the Tavares Norte target, located approximately 100 metres apart. Both holes intersected extensive zones of quartz porphyry and magmatic breccia, hosting sulphide mineralization, with very similar geological characteristics to the Maria Bonita porphyry.

Altamira plans to conduct follow-up drilling at Tavares Norte to further delineate the porphyry system and test for higher-grade zones associated with magnetite-bearing quartz vein stockworks hosted in the quartz porphyry.

The objective of the current drill program at Maria Bonita is to enlarge the footprint of the known mineral resource by drill testing for potential extensions to the existing resource, including its depth extent, and new satellite targets.

The first drill hole of the current program, MBA032, was completed to a depth of 546 metres and returned 395.5 metres at 0.4 g/t gold from 44.5 metres depth in the same quartz porphyry intrusive that was intersected in previous drilling.

Hole MBA033 was recently completed to a depth of 497 metres and core samples are in preparation for assay. Hole MBA034, which is collared 100m south of hole MBA032 and aims to test a deeper intercept below that hole, is underway.

Further drilling at Maria Bonita will continue to target the extension of higher-grade zones to depth and along strike.

Altamira Gold is focused on the exploration and development of gold 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 0.46g/t for a total of 357,800oz, and Inferred Resources of 25.64Mt at 0.44g/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.