Altamira Gold advances drilling and testing within Cajueiro Project, Brazil

Altamira Gold continues testing and drilling at its Cajueiro Project in Brazil, intersecting porphyritic rocks and sulphide minerals that suggest high-temperature hydrothermal activity.

Altamira Gold (TSX-V:ALTA) continues to advance exploration work at its Cajueiro Gold Project in Mato Grosso, Brazil, following the completion of initial scout drilling at the Tavares Norte and Morro Verde targets.

Both targets are located along an 8-kilometre east-west corridor defined by gold-in-soil and rock-chip anomalies coinciding with zones of hydrothermal alteration and magnetic anomalies.

Resource expansion drilling underway

CEO Mike Bennett confirmed that the company is also conducting resource extension and delineation drilling at the Maria Bonita and Cajueiro Central deposits. The company recently completed five diamond drill holes totaling 1,256 metres, four of which intersected porphyritic intrusive rocks with potassic alteration, hydrothermal breccias, and quartz veining — geological characteristics consistent with the Maria Bonita system.

A second deep diamond drill hole is currently underway at Maria Bonita to test the southern depth extensions of the deposit.

“These results reinforce our geological model suggesting the presence of multiple porphyritic centres occurring in clusters or alignments,” Bennett said. “Importantly, we are also observing disseminated and vein-hosted sulphides, including chalcopyrite and molybdenite, indicative of proximity to a high-temperature hydrothermal centre.”

Pending assays and project scale

Assay results for the five drill holes are pending. The Cajueiro Project currently hosts two independently estimated gold resources — at Cajueiro Central and Maria Bonita — along with several untested exploration targets within an 8-kilometre radius.

• Cajueiro Central: 5.66 Mt @ 1.02 g/t Au for 185,000 oz (Indicated) and 12.66 Mt @ 1.26 g/t Au for 515,000 oz (Inferred)
• Maria Bonita: 24.19 Mt @ 0.46 g/t Au for 357,800 oz (Indicated) and 25.64 Mt @ 0.44 g/t Au for 362,400 oz (Inferred)

Altamira Gold’s projects collectively cover over 100,000 hectares across western-central Brazil, one of South America’s most prospective gold belts.

Brazil’s gold mining context

According to the World Gold Council, Brazil ranked 15th globally in gold production in 2024, with 83,700 tonnes extracted. Historically, between the 18th century and today, the nation’s gold mining industry has evolved from artisanal operations in Minas Gerais, Goiás, Bahia, and Mato Grosso to industrial-scale mining, now encompassing more than 80 active mines across the country.