Altamira Gold Announces Maiden Mineral Resource Estimate for Maria Bonita Porphyry Gold Project, Cajueiro District, Brazil

Core Viewpoint - Altamira Gold Corp. has announced a maiden mineral resource estimate for the Maria Bonita porphyry gold deposit, which significantly enhances the company's resource base and presents opportunities for further exploration and resource expansion [1][2]. Group 1: Resource Estimate Details - The maiden open-pit resource includes total Indicated Resources of 24.19 million tonnes (Mt) at 0.46 grams per tonne (g/t) gold, equating to 357,800 ounces (oz), and Total Inferred Resources of 25.64 Mt at 0.44 g/t gold, totaling 362,400 oz [5][13]. - Near-surface saprolite Indicated Resources are 2.02 Mt at 0.59 g/t gold (38,000 oz), while Inferred Resources are 0.68 Mt at 0.40 g/t gold (8,700 oz) [5][14]. - A higher grade near-surface resource at a 0.5 g/t gold cut-off comprises Indicated Resources of 7.56 Mt at 0.72 g/t gold (176,250 oz) and Inferred Resources of 5.18 Mt at 0.92 g/t gold (152,940 oz) [5][14]. Group 2: Project Location and Accessibility - The Cajueiro project is located approximately 75 km northwest of Alta Floresta in the state of Mato Grosso, Brazil, and is easily accessible by road, situated on open farmland with grid power and a local water supply [3]. Group 3: Future Exploration Plans - The company plans to mobilize a drill rig shortly to continue testing the extensions of the Maria Bonita mineralization and explore the other eight identified porphyry-related targets within the Cajueiro district [2][17]. - The Cajueiro project currently has a total of nine porphyry gold targets identified, indicating significant potential for further discoveries and resource expansion [5][17]. Group 4: Technical and Estimation Methodology - The maiden mineral resource estimate was completed by VMG Consultoria e Soluções Ltda, based on drilling conducted by Altamira between August 2022 and April 2024, involving 31 diamond drill holes totaling 4,710 meters [8][21]. - The resource estimations utilized a gold price of US$2,780 per ounce and were calculated using a block model interpolated by the Ordinary Kriging method [9][15].