Altamira Gold posts maiden mineral resource estimate for Maria Bonita Gold Project, Brazil

Altamira Gold Corp. [TSXV: ALTA; FSE: T6UP; OTC Pink: EQTRF], reported results of an independently assessed, maiden mineral resource estimate for the Maria Bonita porphyry gold deposit within the Cajueiro Project, Brazil. Maria Bonita is a separate discovery, located 7km to the west of, and additional to, the Cajueiro Central Mineral Resource.

Highlights: The maiden open-pit resource consists of total Indicated Resources of 24.19Mt at 0.46 g/t gold (for a total of 357,800 oz) and Total Inferred Resources of 25.64Mt at 0.44 g/t gold (for a total of 362,400 oz). These resources include near-surface saprolite Indicated Resources of 2,02Mt at 0.59g/t gold (for a total of 38,000 oz) and Inferred Resources of 0.68t at 0.40 g/t gold (for a total of 8,700 oz). These resources were calculated using a 0.2 g/t gold cut-off grade.

A significant higher grade near-surface resource has also been identified and at a 0.5 g/t gold cut-off comprises Indicated Resources of 7.56Mt at 0.72 g/t gold (176,250 oz) and Inferred Resources of 5.18Mt at 0.92g/t gold (152,940 oz).

Mineralization extends to surface and the relative volume of waste to mineralized material within the optimised pit is 0.5:1. The deposit remains open to the west, south and at depth.

Maria Bonita is the first of nine porphyry-gold targets that have been identified so far within the Cajueiro district and further drilling will be aimed at both expanding Maria Bonita and initial drill testing of the eight other targets.

Mike Bennett, CEO, commented; “We are thrilled with the maiden mineral resource estimate for our Maria Bonita project. This is a transformational step forward for the company and, together with the existing resources at Cajueiro, doubles Altamira’s Indicated and Inferred resource base. The mineralization at Maria Bonita is notably coherent and regular, with higher grades returned from near surface material.

“Coupled with our portfolio of nine drill-ready targets within the Cajueiro district, we now have an excellent opportunity to add to these resources through both the expansion of the defined mineral resources at both Maria Bonita and Cajueiro Central, and additional discoveries of porphyry-related mineralization in the district. We will be mobilising a drill rig shortly to continue testing of the extensions to the Maria Bonita mineralization and our district targets. We look forward to the continued delineation of the deposit and unlocking the potential of the other eight targets.”

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.

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).

The maiden mineral resource estimate for Maria Bonita was completed by VMG Consultoria e Soluções Ltda of Belo Horizonte, Minas Gerais, Brazil under the direction of Volodymyr Myadzel PhD, MAIG. The estimate is based on drilling undertaken by Altamira between August 2022 and April 2024.

A total of 31 diamond drillholes (4,710m) have been completed at the Maria Bonita target. Of this total, twenty-nine drill holes were used to estimate the mineral resource (4,518m). A gold price of US$2,780/oz was used.

Open-pit Indicated Resources are 24.19Mt at 0.46 g/t (for a total of 357,800 oz) and Total Inferred Resources are 25.64Mt at 0.44 g/t (for a total of 362,400 oz). These resources include near-surface saprolite Indicated resources of 2,02Mt at 0.59 g/t (for a total of 38,000 oz) and Inferred Resources of 0.68 tonnes at 0.40 g/t (for a total of 8,700 oz).

A significant higher grade near-surface resource has also been identified, and at a 0.5 g/t gold cut-off comprises total Indicated Resources of 7.56Mt at 0.72 g/t (for a total of 176,250 oz) and Total Inferred Resources are 5.18Mt at 0.92 g/t (for a total of 152,940oz).

The Maria Bonita porphyry gold deposit is part of a district-scale, porphyry-related mineralizing event. There are currently eight additional porphyry gold targets over a strike of 12km east-west awaiting scout drill testing.

The company is focused on the exploration and development of gold and copper projects within western central Brazil, strategically advancing six 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.

Leading the portfolio is the Cajueiro project, a highly prospective asset with an NI 43-101 compliant resource estimate of 185,000 ounces of 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.