Vancouver, British Columbia--(Newsfile Corp. - April 14, 2025) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) ("Altamira" or the "Company"), is pleased to announce the results of ongoing exploration for district-scale porphyry-related gold mineralization in close proximity to the Cajueiro Central Mineral Resource (previously reported under NI 43-101).
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 ten rock chip samples averaging 3.2g/t gold and with all samples recording greater than 1g/t gold. A 50-metre trench outlined three mineralized intervals within which 31m averages greater than 0.25g/t gold (peak value 1m @ 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 35m @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."
+ by their nature, grab samples are not representative of the bulk metal content of a mineralized zone.
CAJUEIRO PROJECT
The Cajueiro project is located approximately 75km NW of the town of Alta Floresta in the state of Mato Grosso (Figure 1) 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 (Figure1).
Figure 1: Location of the Cajueiro, Apiacas and Santa Helena projects.
The Cajueiro Central project has current NI 43-101 resources* of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 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 @ 1g/t gold (from 23 metres depth) (see press release dated May 22, 2024).
A program of mapping, soil sampling and proprietary drone magnetics continues to develop new targets in the Cajueiro district (Figure 2). 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 (Figure 2). To the south of this corridor, lies the Cajueiro Mineral Resource and two active prospects at Espirro and Serafim.
*NI 43-101 Technical Report, Cajueiro Project, Mineral Resource Estimate: Global Resource Engineering, Denver Colorado USA, 10th October 2019; Authors K. Gunesch, PE; H. Samari, QP-MMSA; T. Harvey, QP-MMSA
Figure 2: Cajueiro district targets (yellow labels) and their position in relation to the defined Mineral Resource at Cajueiro Central (white labels for sub-sectors). An alignment of six of the targets occur in close spatial association to a pronounced east-west fault corridor marked by later gabbroic dykes.
At Mombaque, two trenches have been excavated and sampled, totalling 380m. 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 1300 metres x 1800 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 3.2g/t gold from ten 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; 23m @ 0.25 g/t gold, 2m @ 3.27 g/t gold and 6m @ 0.38 g/t gold (see Table 1).
From
To
Interval (m)
g/t gold
Comment
0
23
23
0.25
interval open to north
27
29
2
3.27
44
50
6
0.38
interval open to south
Table 1: Tavares Norte trench results, based on 1 metre sample intervals.
At Morro Verde, located 1000m 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 0.71g/t gold and all samples returning greater than 0.1 g/t gold. A single drill hole completed in 2017, (see press release dated August 1, 2017) intersected 65m 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 (see press release dated December 11, 2024).
Results received to date include 35m @ 0.45 g/t gold, 7m @ 0.22 g/t gold and 7.6m @ 0.41 g/t gold (see Table 2). 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.
Trench
Length
From
To
Interval
Grade
Peak assay
(m)
(m)
(m)
(m)
Au g/t
Au g/t
TCGLO-0001
170
99
134
35
0.45
0.47
TCGLO-0003
147
64
71
7
0.22
0.79
TCGLO-0006
100
49.2
56.8
7.6
0.41
0.98
Table 2: Guillermo trench results, based on 1 metre sample 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 (Figure 4).
+ By their nature, grab samples are not representative of the bulk metal content of a mineralized zone.
Figure 4: Clasts from surface rock chip sample in Serafim hydrothermal breccia
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.
Qualified Person
Guillermo Hughes, FAIG and M AusIMM., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Altamira Gold Corp.
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 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 @ 1.02 g/t) and an additional 515,000 ounces in the Inferred category (12.66Mt @ 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. With a rich geological setting and a track record of significant discoveries, the Company is well-positioned to unlock further value across its expansive land package.
** Juliani, C. et al ; Gold in Paleoproterozoic (2.1 to 1.77 Ga) Continental Magmatic Arcs at the Tapajós and Juruena Mineral Provinces (Amazonian Craton,Brazil): A New Frontier for the Exploration of Epithermal-Porphyry and Related Deposits. Minerals 2021, 11, 714. https://doi.org/10.3390/min11070714
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The securities described herein have not been registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act and any applicable state securities laws.
Forward-looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the extension of the Warrants. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "intends" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the receipt of all necessary regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
Notes
Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by FAA525. Analytical quality is monitored by certified references and blanks. Until dispatch, samples are stored under the supervision the Company's exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned to the Company and archived. Drill holes results are quoted as down-hole length weighted intersections.
* NI 43-101 Technical Report, Cajueiro Project, Mineral Resource Estimate: Global Resource Engineering, Denver Colorado USA, October 10, 2019; Authors K. Gunesch, PE; H. Samari, QP-MMSA; T. Harvey, QP-MMSA
