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Altamira Gold Defines Gold-in-Soil Anomaly at Mombaque Target, Expanding the Cajueiro Porphyry System

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Altamira Gold Corp. (TSXV: ALTA) (OTC Pink: EQTRF) has announced progress in evaluating porphyry-related gold mineralization at its Cajueiro project. Key highlights include:

  • A coherent gold-in-soil anomaly measuring up to 600m by 500m has been defined at the Mombaque prospect, 1.6km east of the Maria Bonita porphyry gold discovery
  • The anomaly coincides with sericite-altered volcanic tuffs and breccias, underlain by felsic intrusives similar to Maria Bonita
  • Rock chip sampling revealed porphyry-style quartz veining with anomalous gold
  • A coincident magnetic anomaly and altered rocks make Mombaque a compelling drill target
  • The findings suggest porphyry-style gold mineralization at Cajueiro extends over a wider area than initially thought

CEO Mike Bennett stated that this development could indicate multiple porphyry gold deposits at Cajueiro, expanding beyond the Maria Bonita system where recent drilling yielded 146m @ 1 g/t gold.

Altamira Gold Corp. (TSXV: ALTA) (OTC Pink: EQTRF) ha annunciato progressi nella valutazione della mineralizzazione aurea correlata ai porfidi nel suo progetto Cajueiro. I punti salienti includono:

  • È stata definita un'anomalia di oro nel suolo coerente che misura fino a 600m per 500m presso il prospetto Mombaque, 1.6km a est della scoperta aurea porfida di Maria Bonita
  • L'anomalia coincide con tufi vulcanici e brecce alterati da sericite, supportati da intrusioni felsiche simili a quelle di Maria Bonita
  • Il campionamento di chip di roccia ha rivelato venature di quarzo in stile porfido con oro anomalo
  • Un'anomalia magnetica coincidente e rocce alterate rendono Mombaque un obiettivo di perforazione convincente
  • Le scoperte suggeriscono che la mineralizzazione aurea in stile porfido a Cajueiro si estende su un'area più ampia di quanto inizialmente pensato

Il CEO Mike Bennett ha dichiarato che questo sviluppo potrebbe indicare più depositi aurei porfidi a Cajueiro, espandendosi oltre il sistema di Maria Bonita dove le recenti perforazioni hanno registrato 146m @ 1 g/t di oro.

Altamira Gold Corp. (TSXV: ALTA) (OTC Pink: EQTRF) ha anunciado avances en la evaluación de la mineralización aurífera relacionada con los porfidos en su proyecto Cajueiro. Los aspectos más destacados incluyen:

  • Se ha definido una anomalía de oro en el suelo coherente que mide hasta 600m por 500m en el prospecto Mombaque, a 1.6km al este del descubrimiento de oro porfídico de Maria Bonita
  • La anomalía coincide con tobas volcánicas y brechas alteradas por sericita, subyacidas por intrusiones felsicas similares a las de Maria Bonita
  • El muestreo de chips de roca reveló venas de cuarzo de estilo porfídico con oro anómalo
  • Una anomalía magnética coincidente y rocas alteradas hacen de Mombaque un objetivo de perforación convincente
  • Los hallazgos sugieren que la mineralización de oro de estilo porfídico en Cajueiro se extiende por un área más amplia de lo inicialmente pensado

El CEO Mike Bennett declaró que este desarrollo podría indicar múltiples depósitos de oro porfídico en Cajueiro, expandiéndose más allá del sistema de Maria Bonita donde las perforaciones recientes dieron 146m @ 1 g/t de oro.

Altamira Gold Corp. (TSXV: ALTA) (OTC Pink: EQTRF)는 Cajueiro 프로젝트에서 포르프리와 관련된 금 광물화 평가의 진전을 발표했습니다. 주요 하이라이트는 다음과 같습니다:

  • Maria Bonita 금 발견에서 동쪽으로 1.6km 떨어진 Mombaque 후보지에서 600m x 500m 크기의 일관된 토양 내 금 이상이 정의되었습니다
  • 이 이상은 세리사이트로 변형된 화산 티프 및 브레치아와 일치하며, Maria Bonita와 유사한 복합암에 의해 뒷받침됩니다
  • 암석 칩 샘플링에서 금이 비정상적으로 포함된 포르프리 스타일의 석영 vein이 드러났습니다
  • 동일한 자력 이상과 변형된 암석이 Mombaque를 매력적인 드릴링 목표로 만듭니다
  • 발견된 결과는 Cajueiro의 포르프리 스타일 금 광물화가 처음 생각했던 것보다 더 넓은 지역에 퍼져 있을 수 있음을 시사합니다

CEO Mike Bennett는 이 발전이 Cajueiro에서 여러 개의 포르프리 금 매장지를 나타낼 수 있으며 최근의 드릴링이 1g/t 금으로 146m를 기록한 Maria Bonita 시스템을 넘어 확장될 수 있다고 밝혔습니다.

Altamira Gold Corp. (TSXV: ALTA) (OTC Pink: EQTRF) a annoncé des progrès dans l'évaluation de la minéralisation aurifère liée aux porphyres sur son projet Cajueiro. Les points clés incluent :

  • Une anomalies cohérente d'or dans le sol mesurant jusqu'à 600m par 500m a été définie au prospect de Mombaque, à 1,6 km à l'est de la découverte d'or porphyrique de Maria Bonita
  • L'anomalie coïncide avec des tufs volcaniques et brèches altérées par la séricite, sousjacents à des intrusions félsiques similaires à celles de Maria Bonita
  • Le prélèvement d'échantillons de roche a révélé des veines de quartz de style porphyrique avec de l'or anormal
  • Une anomalie magnétique et des roches altérées font de Mombaque un objectif de forage convaincant
  • Les résultats suggèrent que la minéralisation aurifère de style porphyrique à Cajueiro s'étend sur une zone plus large que prévu initialement

Le PDG Mike Bennett a déclaré que ce développement pourrait indiquer plusieurs dépôts d'or porphyrique à Cajueiro, s'étendant au-delà du système de Maria Bonita où les forages récents ont enregistré 146m @ 1 g/t d'or.

Die Altamira Gold Corp. (TSXV: ALTA) (OTC Pink: EQTRF) hat Fortschritte bei der Bewertung der porphyrbezogenen Goldmineralisierung in ihrem Cajueiro-Projekt bekannt gegeben. Wichtige Erkenntnisse umfassen:

  • Am Mombaque-Vorhaben, 1,6 km östlich der Maria Bonita-Porphyr-Goldentdeckung, wurde eine kohärente Gold-im-Boden-Anomalie mit Ausmaßen von bis zu 600 m mal 500 m definiert
  • Die Anomalie fällt mit serizitisch umgewandelten vulkanischen Tuffen und Brekzien zusammen, die von ähnlichen felsischen Intrusionen wie in Maria Bonita unterlagert werden
  • Gesteinspartikelproben zeigten porphyr-typische Quarzadern mit anomalen Goldwerten
  • Eine zusammenfallende magnetische Anomalie und umgewandelte Gesteine machen Mombaque zu einem überzeugenden Bohrziel
  • Die Ergebnisse deuten darauf hin, dass die porphyrartige Goldmineralisierung in Cajueiro über ein größeres Gebiet hinausgeht, als zunächst angenommen

CEO Mike Bennett erklärte, dass diese Entwicklung auf mehrere porphyrartige Goldlagerstätten in Cajueiro hindeuten könnte, die über das Maria Bonita-System hinausgehen, wo aktuelle Bohrungen 146 m @ 1 g/t Gold ergaben.

Positive
  • Discovery of a large gold-in-soil anomaly (600m x 500m) at Mombaque prospect
  • Evidence of porphyry-style mineralization extending beyond Maria Bonita discovery
  • Potential for multiple porphyry gold deposits at Cajueiro project
  • Recent drilling at Maria Bonita yielded 146m @ 1 g/t gold
  • Mombaque identified as a new priority drill target
Negative
  • None.

Vancouver, British Columbia--(Newsfile Corp. - October 16, 2024) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), ("Altamira" or the "Company") is pleased to announce further progress in the ongoing evaluation of porphyry-related gold mineralization within the Cajueiro project area.

Highlights:

  • Ongoing fieldwork at the Mombaque prospect, located 1.6km to the east of the Maria Bonita porphyry gold discovery, has defined a coherent gold-in-soil anomaly measuring up to 600m by 500m, coincident with prospective sericite-altered volcanic tuffs and breccias
  • The target area is underlain by felsic intrusives, similar in appearance to the host rocks at the Maria Bonita gold porphyry. Rock chip sampling at Mombaque has revealed porphyry-style quartz veining in samples at surface with anomalous gold
  • The presence of a coincident magnetic anomaly and highly altered and brecciated porphyritic rocks makes Mombaque a compelling drill target. It also suggests that porphyry-style gold mineralization at Cajueiro extends over a much wider area than the initial Maria Bonita gold discovery

CEO Mike Bennett commented; "The identification of a coherent gold-in-soil anomaly at the Mombaque prospect is an exciting development for the Cajueiro project. Surface rock samples show evidence of strong sericite alteration and hydrothermal quartz veining which are consistent with a concealed porphyry centre and define a new priority drill target. As yet, we do not know if this is a significant extension to the porphyry system at Maria Bonita or a separate porphyry system. Ongoing field work has also identified priority targets to the north of the Cajueiro mineral resource in association with magnetic anomalies along a wide east-west corridor. It is becoming clear that porphyry-style gold mineralization at Cajueiro extends beyond the Maria Bonita mineralized system where we recently drilled 146m @ 1 g/t gold in porphyritic host rocks and that this could be one of several porphyry gold deposits at Cajueiro."

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 and is easily accessible by road 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 (Figure 1).

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Figure 1: Location of the Cajueiro, Apiacas and Santa Helena projects.

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The Cajueiro 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).

Maria Bonita Target

Maria Bonita is a new discovery of a primary porphyry gold deposit, located 7km west of the existing Cajueiro gold deposit. It is easily accessible by road and the surface rights have been acquired by the company. Significant results, previously reported from two phases of diamond drilling are shown in Table 1 and include:

Drillhole Interval  g/t From  Drillhole Interval g/t From 
 metres gold metres  metresgold metres
MBA001501.0 0 MBA013940.60
MBA00255 1.00 MBA015120*0.569
 250.7110 MBA016830.514
MBA00345 1.40  65*0.4118
MBA00450 1.10 MBA0171020.355
 72 0.550 MBA0181050.523
MBA00569 1.00 MBA020720.459
MBA00771 0.634 MBA02296*0.388
 45 0.5105 MBA025400.4118
MBA01031 0.679 MBA0291461.023
      *Interval open at depth  

 

Table 1: Significant intercepts from diamond drilling to date at Maria Bonita. See press releases dated 07/09/22, 16/11/22, 18/01/23, 17/04/24, 22/04/24.

These very consistent drill results characterize a multi-phase felsic quartz porphyry-hosted system of quartz veins and breccias carrying gold. Within the mineralized intervals, gold is relatively uniformly distributed with a highest grade of 7.7g/t gold reported from the intervals listed above (Table 1). The mineralized system remains open in several directions and parts of the same intrusive suite of rocks have been mapped 1.5km to the northeast of the drilled area.

Mombaque Target

The location of the Mombaque magnetic anomaly is shown in Figure 2, approximately 1.6km to the east of the Maria Bonita porphyry gold discovery.

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Figure 2: Cajueiro project area showing the location of the existing Cajueiro mineral resource, the Maria Bonita discovery and the Mombaque target plus postulated alluvial gold source areas. A conceptual cross section is shown in Figure 5.

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The Mombaque intrusive centre was initially inferred from an interpretation of magnetic data suggesting the presence of a concealed magnetic body with dimensions of 1.5 by 1.2km. Follow-up surface mapping has identified extensive zones of intense sericite alteration in tuffs and intrusives with variable amounts of quartz veining coincident with this magnetic body. The intrusive is partially covered by tuffs, implying the presence of a concealed porphyry body below the shallow cover.

Recent soil sampling over the Mombaque magnetic anomaly has defined a significant gold-in-soil feature up to 100ppb gold measuring up to 600m by 500m extending over the eastern part of the intrusive body and partly underlain by post-mineral volcanic tuff cover. The Mombaque gold-in-soil anomaly is one of several gold-in-soil anomalies which are mainly located to the north and north-east of the existing Cajueiro gold deposit (Figures 3 and 4). Most of these targets have yet to be drill tested.

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Figure 3: Identified gold targets within close proximity to Cajueiro mineral resource

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Figure 4: Mombaque gold-in-soil anomaly showing large zone of sericite alteration in volcanic tuffs overlying a felsic intrusive body plus anomalous rock chip samples.

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The juxtaposition of a deep-seated magnetic source at Mombaque with the regional structural environment and the known presence of porphyry gold mineralization at Maria Bonita, plus mesothermal vein/breccia hosted gold at the Cajueiro mineral resource, leads to a conceptual interpretation of several porphyry centres along the Cajueiro trend as shown in Figure 5.

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Figure 5: Mombaque conceptual porphyry target below altered tuff cover.

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Rock sampling of available outcrops on the northern and southern flanks of the Mombaque magnetic and soil anomaly (Figure 4) shows a variety of hydrothermal alteration and brecciation features in felsic porphyry rocks, similar to those that host the Maria Bonita mineralization. Notably, one of the rock samples received to date returned a highly anomalous gold value of 0.39g/t gold.

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Figure 6: Mombaque sericitized and veined quartz porphyry surface samples.

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The gold-in-soil anomaly, highly anomalous rock chip samples, plus the presence of strong sericite alteration evident in the surface outcrops, strongly suggest the potential for a mineralized porphyry system at relatively shallow depth at Mombaque (Figure 7). Scout drill testing is planned.

The exploration work conducted to date at Cajueiro, and specifically the Maria Bonita - Mombaque area, suggests the presence of a new porphyry-gold district with multiple porphyry centres. A conceptual model showing various levels of exposure and the Cajueiro resource and the Maria Bonita discovery, as well as the Mombaque target, is shown in Figure 7.

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Figure 7: Conceptual cross section of typical modern porphyry system showing inferred levels of exposure in the Cajueiro district (not allowing for post-mineralization structural modification).

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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. The Company holds 6 projects comprising approximately 190,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company's advanced Cajueiro project has 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.

On Behalf of the Board of Directors,

ALTAMIRA GOLD CORP.

"Michael Bennett"

Michael Bennett
President & CEO
Tel: 604.676.5660
Toll-Free: 1-833-606-6271
info@altamiragold.com
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.

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.

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FAQ

What is the size of the gold-in-soil anomaly discovered at Mombaque by Altamira Gold (EQTRF)?

Altamira Gold (EQTRF) has defined a coherent gold-in-soil anomaly measuring up to 600m by 500m at the Mombaque prospect.

How far is the Mombaque prospect from the Maria Bonita discovery in Altamira Gold's (EQTRF) Cajueiro project?

The Mombaque prospect is located 1.6km to the east of the Maria Bonita porphyry gold discovery in Altamira Gold's (EQTRF) Cajueiro project.

What was the significant drill result from Maria Bonita mentioned in Altamira Gold's (EQTRF) press release?

Altamira Gold (EQTRF) reported a significant drill result of 146m @ 1 g/t gold in porphyritic host rocks at the Maria Bonita discovery in the Cajueiro project.

What evidence suggests porphyry-style mineralization at Altamira Gold's (EQTRF) Mombaque target?

Evidence for porphyry-style mineralization at Altamira Gold's (EQTRF) Mombaque target includes a coincident magnetic anomaly, highly altered and brecciated porphyritic rocks, and rock chip samples showing porphyry-style quartz veining with anomalous gold.

ALTAMIRE GOLD CORP ORD

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