Altamira Gold expands Cajueiro District potential with new discoveries of porphyry-related gold mineralization

Altamira Gold Corp. [TSXV: ALTA; FSE: T6UP; OTC Pink: EQTRF] reported results of ongoing exploration for district-scale porphyry-related gold mineralization in close proximity to the Cajueiro Central Mineral Resource.

Highlights: A new target has been defined at Serafim, located 2km east of the existing Mineral Resource where rock chip sampling identified a hydrothermal breccia containing clasts of veined porphyry intrusive. This included a grab rock sample⁺ of 5.6 g/t gold.

At Tavares Norte, a grab rock sample returned an assay of 7.8 g/t gold with all 10 rock chip samples averaging 3.2 g/t gold and with all samples recording greater than 1g/t gold. A 50-metre trench outlined three mineralized intervals within which 31 metres averages greater than 0.25 g/t gold (peak value 1m at 6.5 g/t gold), with the mineralization open at both ends of the trench.

Trenching at the Guillermo prospect has returned two intervals defining future drill targets within quartz veined and altered volcanic host rocks, with a coherent interval of 35 metres at 0.5 g/t gold.

CEO Mike Bennett commented; “Our ongoing field program of soil sampling, mapping and drone magnetics, continues to successfully define new targets. Our recent discovery of further evidence of porphyry-related gold mineralization at Serafim, brings the current inventory of new drill target areas in the Cajueiro project, outside our two main mineralized centres, to eight. This latest discovery remains at a very early stage but is a very positive indicator and supports our thesis that the district-scale gold occurrences, identified to date over an east-west distance of 14km, are most likely part of the same porphyry-related mineralizing event within this expanding gold district. The results from Tavares Norte and Guillermo also define drill targets on extensive zones of surface gold mineralization.”

The Cajueiro project is located approximately 75km NW of the town of Alta Floresta in the state of Mato Grosso western central 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 Central project has current 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 515,000 oz in the Inferred Resource category (estimated using a gold price of US$1,500/oz).

Reconnaissance drilling at the Maria Bonita target, located 7km west of the Cajueiro Central Mineral Resource, identified the first porphyry-hosted gold discovery at Cajueiro and returned gold values up to 146m at 1g/t gold (from 23 metres depth).

A program of mapping, soil sampling and proprietary drone magnetics continues to develop new targets in the Cajueiro district. An east-west corridor of intrusive-related prospects, lies between major structures that were later reactivated and intruded by regional-scale gabbro dykes that extend over tens of kilometres.

Within this corridor, there are five prospects from Novo Sonho in the west to Guillermo in the east, over a distance of 12 km. To the south of this corridor, lies the Cajueiro Mineral Resource and two active prospects at Espirro and Serafim.

At Mombaque, two trenches have been excavated and sampled, totalling 380 metres. The underlying rocks are sericite altered tuffs, interpreted as overlying a mineralizing felsic intrusive at shallow depth. Results are pending.

The Tavares Norte prospect is located 1km NW of the central resource area. The current soil anomaly extends for some 1,300 metres x 1,800 metres and small felsic intrusives are interpreted to underlie the soil anomaly. Surface rock chip grab sampling⁺ across the prospect returned an average grade of 3.2 g/t gold from 10 samples with a highest value of 7.8 g/t gold. A single trench was excavated alongside a dirt road traversing the anomaly in a north-east direction in the eastern sector of the prospect and returned three intervals of interest; 23 metres at 0.25 g/t gold, 2 metres at 3.27 g/t gold and 6 metres at 0.38 g/t gold.

At Morro Verde, located 1,000 metres north of the central resource area, 8 additional grab rock chip samples⁺ returned an average of 0.28 g/t gold, with a peak value of 0.71 g/t gold and all samples returning greater than 0.1 g/t gold. A single drill hole completed in 2017 intersected 65 metres of intrusive breccia containing dominantly volcanic wall-rock clasts.

Trenching at Guillermo has defined two zones of interest for drill testing. The rocks exposed in the trenches are felsic volcanics intruded by small stocks or dykes of altered and veined felsic igneous rocks.

Results received to date include 35 metres at 0.45 g/t gold, 7 metres at 0.22 g/t gold and 7.6 metres at 0.41 g/t gold. These results demonstrate that the intrusive rocks carry anomalous gold and warrant drill testing to confirm the subsurface continuity and grade trend of the trench intervals.

Soil sample and drone magnetic results are pending over parts of the grid. In a similar manner to the Maria Bonita area, mineralized porphyry intrusives are cut by later, barren phases of the inferred same felsic intrusive suite. Dating studies are ongoing to better interpret the age relationships.

Grab sampling⁺ of float breccia boulders at the Serafim prospect returned one sample containing 5.57 g/t gold. This sample is a breccia containing clasts of quartz veined porphyry intrusive which are interpreted to have been derived from the roof zone of a porphyry intrusive.

These new results underline the emerging context of a set of porphyry-related gold occurrences within a defined structural corridor that shows evidence of at least four episodes of multiphase intrusive activity, pointing to a deep and reactivated set of structurally controlled magma conduits.

These favourable structural settings, with positive gold in soil and rock sampling, now provide a set of targets for scout drilling to extend the inventory of mineralization outside the Cajueiro Central Mineral Resource and the Maria Bonita discovery.

The company is advancing six projects spanning over 100,000 hectares within the prolific Juruena Gold Belt-an area that has historically yielded 6 million ounces of placer gold. Leading the portfolio is the Cajueiro project, a highly prospective asset with an NI 43-101 compliant resource estimate of 185,000 oz gold in the Indicated category (5.66Mt at 1.02 g/t) and an additional 515,000 ounces in the Inferred category (12.66Mt at 1.26 g/t).

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 scalability.