Altamira Gold mobilizes second drill to Cajueiro Gold District, Brazil

Altamira Gold Corp. [TSXV: ALTA; FSE: T6UP; OTCQB: EQTRF] reported the mobilization of a second diamond drill rig to its Cajueiro gold district, Brazil. The additional drill rig will focus on the Central Resource Area and several of the porphyry targets defined in the last 12 months within the broader Cajueiro district, complementing ongoing drilling at the Maria Bonita gold resource.

Highlights: The addition of a second diamond drill rig at Cajueiro is aimed at expanding the known Indicated and Inferred resources (reported under NI 43-101) within the Central resource area and in particular the down-dip extensions of higher-grade zones.

The drill rig will also be used to test several nearby porphyry targets, including follow-up drilling at the Tavares Norte gold porphyry discovery and other satellite porphyry prospects recently identified through geophysical and geochemical work.

Drilling at the Maria Bonita gold resource, located 7km north-west of the Central resource area, is ongoing. Drill hole MBA033 was completed to a depth of 497 meters and samples are being prepared for assay. Drill hole MBA034, collared 100 metres south of hole MBA033 is now in progress.

Mike Bennett, CEO, commented: “Mobilizing a second drill rig to the Cajueiro district marks a big step forward for the Company. With one rig currently drilling at Maria Bonita and the second moving to the Central resource and nearby porphyry targets, we will double our current drilling rate which is aimed at increasing the known resource base at the Maria Bonia and the Central resource areas, as well as testing several new district porphyry targets.

“This approach allows us to build on the strong results at Maria Bonita, while aggressively testing the broader district potential. We now know that at least one new gold porphyry centre exists in Tavares Norte, and we believe several other gold bearing porphyry centres could prove to be the sources of the alluvial gold worked historically from the streams within the 15 kilometre east-west corridor in the centre of the district.”

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 Indicated and 12.66Mt at 1.26 g/t gold for a total of 515,000 oz Inferred (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 357,800 oz) and Inferred Resources of 25.64Mt at 0.44 g/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 (38,000 oz) and Inferred Resources of 0.68Mt at 0.40 g/t gold (8,700 oz).

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.

This dual-rig program represents a significant increase in drilling capacity and is expected to shorten the timeline for both resource expansion and discovery. All required permits are in place, and infrastructure at Cajueiro supports year-round operations. With two drill rigs in operation, a steady flow of results is expected over the next several months.

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 395.5m 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 100 metres 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.

The company is focused on the exploration and development of gold projects within western central Brazil, advancing five projects spanning over 100,000 hectares within the prolific Juruena Gold Belt.

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.