Altamira Gold Intersects Gold Mineralization Within a New Porphyry Body at Tavares Norte Target, Cajueiro District, Brazil
Altamira Gold Intersects Gold Mineralization
Within a New Porphyry Body at Tavares Norte
Target, Cajueiro District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2025) -
Altamira Gold Corp. (TSXV:
ALTA) (FSE: T6UP) (OTCQB: EQTRF)
("
Altamira
" or the "
Company
"), is pleased to report 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
18.6m
@ 0.4 g/t gold
from 36m depth and
20m @ 0.3 g/t gold
from 133m 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.
CEO Mike Bennett 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."
CAJUEIRO DISTRICT
The Cajueiro district 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 the key projects
that Altamira controls in the region (Figure1).
Figure 1: Location of Altamira Gold's projects in the Alta Floresta Belt.
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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 resource
1
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 cut-off grade of 0.25g/t Au and a gold price of
US$1,500/oz).
The Maria Bonita open-pit resource consists of Indicated Resources of 24.19Mt @ 0.46g/t gold (for a
total of 357,800oz) and Inferred Resources of 25.64Mt @ 0.44g/t gold (for a total of 362,400oz)
2
. 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 @ 0.59g/t gold (38,000oz) and
Inferred Resources of 0.68Mt @ 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 (Figure 2). 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.
Figure 2: Cajueiro district mineral resources at Cajueiro Central and Maria Bonita (white labels) and
prospects (blue labels with scout drilling, yellow labels not yet drilled). An alignment of six of the targets
occur in close spatial association to a pronounced east-west fault corridor marked by later gabbroic
dykes.
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Tavares Norte Drilling Update
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 1300m. Previous surface rock chip grab sampling
+
across the prospect returned
grades of up to 7.8 g/t gold (see press release dated April 14, 2025).
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.
+
By their nature, grab samples are not representative of the bulk metal content of a mineralized zone.
Figure 3: Tavares Norte drill holes in relation to the defined soil anomaly, surface rock chip samples and
trench exposure.
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Hole TVN002 was sited at the western end of the higher-grade section of the soil anomaly and was
completed to a depth of 227m metres. The hole intersected 161.7 metres of quartz porphyry with quartz
veining and abundant pyrite and magnetite, associated with potassic and phyllic alteration. The entire
quartz porphyry interval, including zones of brecciated intrusive, returned 161.7m @ 0.2g/t gold (Figure
4).
The hole revealed gold mineralization in quartz veined, porphyry intrusive rocks with the entire quartz
porphyry interval comprising 161.7m @ 0.2g/t gold within which
18.6m @ 0.4 g/t gold
from 36m depth
and
20m @ 0.3 g/t gold
from 133m depth are the most notable (Table 1).
Hole TVN001 was drilled 100m to the west of TVN002 and intersected narrow intervals of low-grade
mineralization including 3.3m @ 0.30 g/t gold from 11.0m depth and 1.0m @ 0.40 g/t gold from 61.0m
depth. The hole cut wide intervals of quartz porphyry and magnetic breccia containing pyrite, galena,
molybdenite, and sphalerite. This hole was collared to the west of the main gold-in-soil anomaly for
logistical reasons at the time of drilling (Figure 3) and therefore did not intersect the main mineralized
zone, which is interpreted as extending eastwards where further drilling is planned.
Figure 4: Cross section for drill hole TVN002.
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Table 1: Main assay results for drill holes TVN001 and TVN002. All mineralization is hosted within
altered quartz porphyry.
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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.
Figure 5: Typical quartz porphyry intrusive core from Tavares Norte (right) compared with the host rock to
the Maria Bonita mineral resource (left).
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Maria Bonita Drilling Update
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 @ 0.4 g/t gold from 44.5m depth in the same quartz porphyry intrusive that was
intersected in previous drilling (see press release dated October 15, 2025).
Hole MBA033 was recently completed to a depth of 497m 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.
Figure 6: Locations of drill holes at Maria Bonita from the past campaign (white) and the current
campaign (yellow). The background shows interpreted major structures within the broad, trapezoid-
shaped magnetic low that hosts the alteration and mineralization. The optimised pit outline is derived
from the maiden mineral resource estimate
2
(June 2025).
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Qualified Person
Guillermo Hughes, FAIG and M Aus IMM., 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 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
3
. The Company's
advanced Cajueiro project contains two gold deposits. The central area comprises 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 515,000oz in the Inferred Resource category. In addition, the Maria Bonita gold
deposit comprises additional open pit Indicated Resources of 24.19Mt @ 0.46g/t for a total of
357,800oz, and Inferred Resources of 25.64Mt @ 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.
With two independently established mineral resources, a highly prospective geological setting and a
track record of significant discoveries, the Company is well-positioned to unlock further value across its
extensive land package.
1
NI 43-101 Technical Report, Cajueiro Project, Mineral Resource Estimate: Global Resource Engineering, Denver Colorado USA, 10
th
October
2019; Authors K. Gunesch, PE; H. Samari, QP-MMSA; T. Harvey, QP-MMSA
2
NI43-101 Technical Report, Mineral Resource for the Maria Bonita Prospect: VMG Consultoria, Belo Horizonte, Minas Gerais, Brazil.
12
th
June
2025; Author V. Myadzel
3
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
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
"Michael Bennett"
Michael Bennett
President & CEO
Tel: 604.676.5661
Toll-Free:1-833-606-6271
www.altamiragold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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
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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