Altamira Gold Intersects High Grade Gold Mineralization Within a Second New Porphyry Body at Morro Verde Target, Cajueiro District, Brazil
Altamira Gold Intersects High Grade Gold
Mineralization Within a Second New Porphyry
Body at Morro Verde Target, Cajueiro District,
Brazil
Vancouver, British Columbia--(Newsfile Corp. - November 19, 2025) -
Altamira Gold Corp. (TSXV:
ALTA) (FSE: T6UP) (OTCQB: EQTRF),
("
Altamira
" or the "
Company
") is pleased to report assay
results from recent reconnaissance drill holes at the Morro Verde target, located within the Company's
Cajueiro District area, Brazil.
Highlights:
Reconnaissance drill testing of a gold-in-soil anomaly associated with broad sericite alteration at
the Morro Verde target (Figure 2), located 1.5km north of the Cajueiro Central mineral resource
has intersected a new zone of gold mineralization associated with an altered quartz porphyry
intrusive. The host rocks are similar to those at the Maria Bonita mineral resource and the more
recently discovered mineralization at Tavares Norte prospect, 1.5km to the west of Morro Verde.
Drill hole MRV003 intersected
8m @ 3.5 g/t gold
from 176m depth, including
1m @
15.4 g/t
gold
, indicating potential for higher grade mineralization.
The gold mineralization is associated with potassic alteration of an interpreted quartz porphyry
intrusive with associated A and B type quartz veining. There is strong sericite alteration overprinted
on the earlier potassic alteration.
This is the first intercept of high-grade gold associated with altered porphyritic host rocks in the
district and the 7
th
highest grade intercept (grade x length) in over 22km of drilling at Cajueiro to
date.
A second drill rig is now operating at the Cajueiro mineral resource
1
to test extensions of known
gold bearing structures and complete infill holes within the resource area.
CEO Mike Bennett commented; "The discovery of higher-grade gold in a new and previously
unrecognized porphyritic intrusive body at Morro Verde significantly extends the corridor of interest
that runs east from the Maria Bonita porphyry. Following the recent discovery of gold mineralization at
Tavares Norte, we now have drill intercepts in two separate gold-mineralized porphyry intrusives over
an east-west distance of 6.5km from the Maria Bonita mineral resource. Scout drilling has now
intersected mineralized intrusives at the first two of our eight district targets. The grade in the Morro
Verde intercept is particularly encouraging as it confirms the potential to find mineralization with a
combination of grades and widths that could
have economic potential for both open-pit and
underground mining operations With two rigs on site, we will continue follow-up drilling of these two new
discoveries while also advancing expansion drilling of the two mineral resources at Maria Bonita and
Central gold deposits."
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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Morro Verde Drilling Update
The Morro Verde prospect is located 1.5km north of the Cajueiro Central resource area and 6.5km east
of the Maria Bonita porphyry gold deposit (Figure 2). The prospect is defined by two separate gold-in-
soil anomalies extending with values up to 178 ppb gold. Geological mapping has identified large areas
of sericite alteration interpreted as associated with a hydrothermal system related to a causative
concealed porphyry intrusive.
Previous surface rock chip grab sampling
+
across the prospect returned grades of up to 5.2g/t gold in
altered intrusive rocks (see press release dated September 02, 2025).
In the current scout drilling program, three widely spaced drill holes were completed at the target. The
southern soil anomaly was tested by hole MRV003. An outcrop of veined and altered quartz porphyry
coincides with the axis of the soil anomaly (Figure 3).
+
By their nature, grab samples are not representative of the bulk metal content of a mineralized zone.
This hole intersected porphyritic intrusive over 236m downhole (from surface). A discrete altered phase
of quartz porphyry within this interval of quartz-felspar porphyry is associated with gold mineralization.
A
coherent interval of mineralization from 176m depth within the porphyry returned
8m @ 3.5 g/t gold,
including 1m @ 15.4g/t gold
(Figure 4). This zone is characterized by potassic alteration overprinted
by later phyllic alteration, type A and B quartz veins and disseminated pyrite content (1.5-3% S). (Figure
5).
This intercept lies approximately 300m north of the northern limit of the Cajueiro Central mineral
resource (Figure 3).
Holes MRV001 and 002 targeted a separate surface grab rock sample
+
anomaly in altered intrusive
rocks (Figure 3).
Hole MRV001was drilled entirely within a later sterile gabbro dyke that has no surface
expression and returned no gold values. Hole MRV002 intersected 65m of quartz porphyry intrusive
showing alteration but with little veining and no significant gold. The northern gold-in-soil anomaly with
coincident phyllic alteration has been partially drill tested by a previous drill hole (CJO098) which
intersected tuffs overlying altered intrusives. Further drill testing is pending on both of the gold-in-soil
anomalies.
Figure 3: Morro Verde drill holes in relation to gold-in-soil anomalies and surface rock chip samples. The new intercept in MRV003 is located 300m
north of the northern limit of the Baldo sector of the Cajueiro resource.
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Figure 4: Cross section for drill hole MRV003. The mineralized interval correlates with altered intrusive rocks on surface within a gold-in-soil
anomaly.
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Drill Hole
From
To
Width
Grade
(m)
(m)
(m)
(g/t gold)
MRV003
176
184
8
3.5
Incl.
182
183
1
15.3
EOH
254.15
Table 1: Scout drill hole drill results Morro Verde prospect.
Notes to Table 1: The true width of the intersection is currently unknown. The hole was drilled as (HQ2) (67mm) to a depth of 17m and thereafter
reduced to (NQ2) (51mm) to the end of the hole.
Hole ID
Easting
Northing
Elevation
(m)
Depth (m)
Azimuth
(degrees)
Dip
(degrees)
MRV001
548613
8965711
237
98.3
0
-55
MRV002
548597
8965840
237
90.2
180
-55
MRV003
548460
8965590
243
292.4
180
-55
Table 2: Morro Verde drill hole collar locations.
Altamira now has two drill rigs operating at Cajueiro extending the current mineral resources at the Maria
Bonita and Central resources. Further drilling is planned at Morro Verde and Tavares Norte to further
delineate these respective porphyry systems and test for the continuity of the mineralized zones in
MRV003 and TVN002 (press release October 29, 2025).
Figure 5: Comparison of textures in gold-mineralized porphyritic host rocks at Maria Bonita resource and both the Tavares Norte and Morro Verde
prospects.
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Cajueiro Central Resource Drilling Program
The Cajueiro Central mineral resource
1
comprises several moderately dipping mineralized vein and
breccia structures with orientations north-east to east and strike lengths up to 900m. The mineralized
zones are up to 40m thick (true width). The deepest drill intercept to date within the mineral resource is
70m vertical below surface.
The breccias are characterized by minor quartz fill accompanied by intense
sericite alteration, pyrite and minor base metal sulphides and are interpreted as the mesothermal zone
of mineralization associated with a porphyry centre, not yet identified. Grades are variable and are
related, in part, to sulphide content.
A trial IP survey line conducted in 2023, demonstrated that the mineralized breccias are well defined by
their chargeability profiles and further ground geophysics is planned to better delineate the full extent of
the mineralization.
The current drill program aims to extend the resource laterally by testing extensions to the mineralized
structures, defined by mapping and trenching. Depth extensions of the better mineralized sections will
also be tested.
The 2019 mineral resource estimate has 27% of the contained gold in the Indicated category and 73% in
the Inferred category. Infill drilling will be directed at moving more of the resource to the Indicated
category to support early mining studies.
The drill program will also include collection of drill core for further metallurgical testing of the primary
mineralization where prior tests delivered very promising gold recoveries of over 90% for both agitated
leach extraction and a combination of gravity and agitated leach processes.
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 and approved 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
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.
Quality Assurance/Quality Control
Sample assay results are monitored through a quality control / quality assurance program that
includes the insertion of blind certified reference materials (standards), blanks and field duplicate
samples. Logging and sampling are completed at a secure Company facility located on site. Drill
core is cut in half on site by a saw cut or slicer (in soft saprolite). Gold analysis has been conducted by
SGS Geosol in Belo Horizonte, Brazil, using 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. Additional information regarding the Company data verification processes is set out in
the NI 43-101 Technical Report, Maria Bonita Prospect, June 2025, which can be found on the
Company's website.
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https://www.newsfilecorp.com/release/275144