Altamira Gold Announces Maiden Mineral Resource Estimate for Maria Bonita Porphyry Gold Project, Cajueiro District, Brazil
Altamira Gold (EQTRF) has announced a maiden mineral resource estimate for its Maria Bonita porphyry gold deposit within the Cajueiro Project in Brazil. The open-pit resource includes Indicated Resources of 24.19Mt @ 0.46g/t gold (357,800oz) and Inferred Resources of 25.64Mt @ 0.44g/t gold (362,400oz) at a 0.2 g/t gold cut-off grade.
A higher-grade near-surface resource using a 0.5 g/t cut-off comprises Indicated Resources of 7.56Mt @ 0.72g/t gold (176,250oz) and Inferred Resources of 5.18Mt @ 0.92g/t gold (152,940oz). The deposit remains open to the west, south, and at depth, with mineralization extending to surface and a favorable waste-to-mineralized material ratio of 0.5:1.
Maria Bonita is the first of nine porphyry-gold targets identified within the Cajueiro district. The company plans to continue drilling to expand Maria Bonita and test the eight other targets.
Altamira Gold (EQTRF) ha annunciato una prima stima delle risorse minerarie per il suo giacimento di oro porfirico Maria Bonita, situato all'interno del Progetto Cajueiro in Brasile. La risorsa a cielo aperto comprende Risorse Indicate di 24,19 Mt @ 0,46 g/t oro (357.800 oz) e Risorse Inferred di 25,64 Mt @ 0,44 g/t oro (362.400 oz) con un cut-off di 0,2 g/t oro.
Una risorsa di qualità superiore vicino alla superficie, con un cut-off di 0,5 g/t, comprende Risorse Indicate di 7,56 Mt @ 0,72 g/t oro (176.250 oz) e Risorse Inferred di 5,18 Mt @ 0,92 g/t oro (152.940 oz). Il giacimento rimane aperto verso ovest, sud e in profondità, con mineralizzazione che arriva fino alla superficie e un favorevole rapporto tra materiale di scarto e mineralizzato di 0,5:1.
Maria Bonita è il primo di nove obiettivi di oro porfirico individuati nel distretto di Cajueiro. L'azienda intende proseguire con le perforazioni per espandere Maria Bonita e testare gli altri otto obiettivi.
Altamira Gold (EQTRF) ha anunciado una estimación inicial de recursos minerales para su depósito de oro porfídico Maria Bonita dentro del Proyecto Cajueiro en Brasil. El recurso a cielo abierto incluye Recursos Indicados de 24,19 Mt @ 0,46 g/t oro (357.800 oz) y Recursos Inferidos de 25,64 Mt @ 0,44 g/t oro (362.400 oz) con un límite de corte de 0,2 g/t oro.
Un recurso de mayor ley cerca de la superficie, usando un límite de corte de 0,5 g/t, comprende Recursos Indicados de 7,56 Mt @ 0,72 g/t oro (176.250 oz) y Recursos Inferidos de 5,18 Mt @ 0,92 g/t oro (152.940 oz). El depósito permanece abierto hacia el oeste, sur y en profundidad, con mineralización que llega a la superficie y una favorable proporción de material de desecho a mineralizado de 0,5:1.
Maria Bonita es el primero de nueve objetivos de oro porfídico identificados en el distrito Cajueiro. La compañía planea continuar con los taladros para expandir Maria Bonita y probar los otros ocho objetivos.
Altamira Gold(EQTRF)는 브라질 Cajueiro 프로젝트 내 Maria Bonita 포르피리 금 광산에 대한 최초의 광물 자원 추정치를 발표했습니다. 노천 자원에는 0.2 g/t 금 컷오프 등급에서 지정 자원 24.19Mt @ 0.46g/t 금 (357,800온스)와 추정 자원 25.64Mt @ 0.44g/t 금 (362,400온스)가 포함됩니다.
0.5 g/t 컷오프를 적용한 고품위 근표면 자원은 지정 자원 7.56Mt @ 0.72g/t 금 (176,250온스)와 추정 자원 5.18Mt @ 0.92g/t 금 (152,940온스)로 구성됩니다. 이 광산은 서쪽, 남쪽 및 심부 방향으로 열려 있으며, 광물화가 표면까지 확장되고 폐석 대비 광물화 물질 비율이 0.5:1로 유리합니다.
Maria Bonita는 Cajueiro 지구 내 확인된 아홉 개의 포르피리 금 목표 중 첫 번째입니다. 회사는 Maria Bonita 확장과 나머지 여덟 목표를 시험하기 위해 시추를 계속할 계획입니다.
Altamira Gold (EQTRF) a annoncé une première estimation des ressources minérales pour son gisement d’or porphyrique Maria Bonita dans le cadre du projet Cajueiro au Brésil. La ressource à ciel ouvert comprend des ressources indiquées de 24,19 Mt à 0,46 g/t d’or (357 800 oz) et des ressources inférées de 25,64 Mt à 0,44 g/t d’or (362 400 oz) avec un seuil de coupure de 0,2 g/t d’or.
Une ressource de meilleure qualité proche de la surface, avec un seuil de coupure de 0,5 g/t, comprend des ressources indiquées de 7,56 Mt à 0,72 g/t d’or (176 250 oz) et des ressources inférées de 5,18 Mt à 0,92 g/t d’or (152 940 oz). Le gisement reste ouvert à l’ouest, au sud et en profondeur, avec une minéralisation atteignant la surface et un ratio favorable de matériaux stériles par rapport aux matériaux minéralisés de 0,5:1.
Maria Bonita est la première des neuf cibles d’or porphyrique identifiées dans le district de Cajueiro. La société prévoit de poursuivre les forages pour étendre Maria Bonita et tester les huit autres cibles.
Altamira Gold (EQTRF) hat eine erste Mineralressourcenschätzung für seine Maria Bonita Porphyr-Goldlagerstätte im Cajueiro-Projekt in Brasilien bekannt gegeben. Die Tagebau-Ressource umfasst angezeigte Ressourcen von 24,19 Mio. t mit 0,46 g/t Gold (357.800 Unzen) und abgeleitete Ressourcen von 25,64 Mio. t mit 0,44 g/t Gold (362.400 Unzen) bei einem Gold-Schnittwert von 0,2 g/t.
Eine höherwertige oberflächennahe Ressource mit einem Schnittwert von 0,5 g/t umfasst angezeigte Ressourcen von 7,56 Mio. t mit 0,72 g/t Gold (176.250 Unzen) und abgeleitete Ressourcen von 5,18 Mio. t mit 0,92 g/t Gold (152.940 Unzen). Die Lagerstätte bleibt nach Westen, Süden und in der Tiefe offen, mit Mineralisierung, die bis zur Oberfläche reicht, und einem günstigen Verhältnis von Abraum zu mineralisiertem Material von 0,5:1.
Maria Bonita ist das erste von neun Porphyr-Goldzielen, die im Cajueiro-Distrikt identifiziert wurden. Das Unternehmen plant, die Bohrungen fortzusetzen, um Maria Bonita zu erweitern und die acht weiteren Ziele zu testen.
- Significant maiden resource estimate doubles company's total resource base
- Favorable waste-to-mineralized material ratio of 0.5:1
- Deposit remains open to expansion in multiple directions
- Higher grade near-surface resources identified
- Eight additional untested porphyry gold targets in the district
- Project has good infrastructure with road access, grid power, and water supply
- Relatively low gold grades (0.44-0.46 g/t) in the main resource
- Resource estimate still requires NI 43-101 technical report filing
Vancouver, British Columbia--(Newsfile Corp. - May 5, 2025) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), ("Altamira" or the "Company") is pleased to announce the results of an independently assessed, maiden mineral resource estimate for the Maria Bonita porphyry gold deposit within the Cajueiro Project. Maria Bonita is a separate discovery, located 7km to the west of, and additional to, the Cajueiro Central Mineral Resource (previously reported under NI 43-101).
Highlights:
- The maiden open-pit resource consists of total Indicated Resources of 24.19Mt @ 0.46g/t gold (for a total of 357,800oz) and Total Inferred Resources of 25.64Mt @ 0.44g/t gold (for a total of 362,400oz). These resources include near-surface saprolite Indicated Resources of 2,02Mt @ 0.59g/t gold (for a total of 38,000oz) and Inferred Resources of 0.68t @ 0.40g/t gold (for a total of 8,700oz). These resources were calculated using a 0.2 g/t gold cut-off grade.
- A significant higher grade near-surface resource has also been identified and at a 0.5 g/t gold cut-off comprises Indicated Resources of 7.56Mt @ 0.72g/t gold (176,250oz) and Inferred Resources of 5.18Mt @ 0.92g/t gold (152,940oz).
- Mineralization extends to surface and the relative volume of waste to mineralized material within the optimised pit is 0.5:1. The deposit remains open to the west, south and at depth.
- Maria Bonita is the first of nine porphyry-gold targets that have been identified so far within the Cajueiro district and further drilling will be aimed at both expanding Maria Bonita and initial drill testing of the eight other targets.
CEO Mike Bennett commented; "We are thrilled with the maiden mineral resource estimate for our Maria Bonita project. This is a transformational step forward for the company and, together with the existing resources at Cajueiro, doubles Altamira's Indicated and Inferred resource base. The mineralization at Maria Bonita is notably coherent and regular, with higher grades returned from near surface material. Coupled with our portfolio of nine drill-ready targets within the Cajueiro district, we now have an excellent opportunity to add to these resources through both the expansion of the defined mineral resources at both Maria Bonita and Cajueiro Central, and additional discoveries of porphyry-related mineralization in the district. We will be mobilising a drill rig shortly to continue testing of the extensions to the Maria Bonita mineralization and our district targets. We look forward to the continued delineation of the deposit and unlocking the potential of the other eight targets."
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. The project is easily accessible by road, lies on open farmland and has grid power and a local water supply (Figure1).
Figure 1: Location of the Cajueiro, Apiacas and Santa Helena projects.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4500/250784_7bf8a4c5340228dd_001full.jpg
The Cajueiro Central 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
The maiden mineral resource estimate for Maria Bonita was completed by VMG Consultoria e Soluções Ltda of Belo Horizonte, Minas Gerais, Brazil under the direction of Volodymyr Myadzel PhD, MAIG. The estimate is based on drilling undertaken by Altamira between August 2022 and April 2024.
A total of thirty-one diamond drillholes (4,710m) have been completed at the Maria Bonita target. Of this total, twenty-nine drill holes were used to estimate the mineral resource (4,518m).
The parameters used to constrain a pit shell in the mineral resource estimate process are presented in Table 1. A gold price of US
The resource estimations are based on a block model interpolated by the Ordinary Kriging (OK) method, using Micromine software. The block model was created using wireframes and filled with blocks measuring 25 (X) by 25 (Y) by 10 (Z) metres. The radii and the orientation of the search ellipses were determined using standard variograms.
All Inferred Resources and Indicated Resources are defined in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (2014) (the "CIM Standards"). For the Indicated Resources, a wireframe that encompasses the area with a 50×50 and 50×100 metre regular drilling grid was created. For interpolation, an average of 3 holes and 8 composite samples were used. The other blocks were classified as Inferred Resources. The block model was validated in several ways: by running an Inverse Distance Weighted interpolation and comparing the results, and by comparing the means and standard deviations of the block grades to the composite data set.
Based on the geological disposition, an open pit mining configuration was used and, based on metallurgical testwork to date, an agitated leach gold recovery was assumed. Industry standard assumptions on unit costs and other parameters were applied.
Table 1: Maria Bonita independent Mineral Resource estimate parameters.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4500/250784_altamiratable1.jpg
Open-pit Indicated Resources are 24.19Mt @ 0.46g/t (for a total of 357,800oz) and Total Inferred Resources are 25.64Mt @ 0.44g/t (for a total of 362,400oz). These resources include near-surface saprolite Indicated resources of 2,02Mt @ 0.59g/t (for a total of 38,000oz) and Inferred Resources of 0.68t @ 0.40g/t (for a total of 8,700oz). These resources were calculated using a 0.2 g/t gold cut-off grade and were estimated for the volume of mineralized material drill tested to date. Of particular importance in the resource estimate is the uniform style of mineralization and the regular grade distribution
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4500/250784_altamiratable2.jpg
- CIM Standards were followed for Mineral Resources.
- Mineral Resources are estimated at a cut-off grade of 0.20 g/t Au for open-pit fresh-rock mineralization, 0.20 g/t Au for saprolite.
- Mineral Resources are estimated using a long-term gold price of US
$2,780 per ounce. - Open pit Mineral Resources are reported within a conceptual open pit
- Bulk density is 1.68t/m3 for saprolite and 2.64 t/m3 for fresh material based on site measurements on drill core
- Metallurgical recovery used is
90% for saprolite, and90% for fresh rock. - Numbers may not add due to rounding.
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Table 2: Maria Bonita Mineral Resource at a 0.2g/t gold cut-off grade.
A significant higher grade near-surface resource has also been identified, and at a 0.5 g/t gold cut-off comprises total Indicated Resources of 7.56Mt @ 0.72g/t (for a total of 176,250oz) and Total Inferred Resources are 5.18Mt @ 0.92g/t (for a total of 152,940oz) - Table 3.
Table 3: Maria Bonita Mineral Resource sensitivity to gold cut-off grade.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4500/250784_altamiratable3.jpg
The Maria Bonita porphyry gold deposit is part of a district-scale, porphyry-related mineralizing event. There are currently eight additional porphyry gold targets over a strike of 12km east-west awaiting scout drill testing (Figure 2).
Figure 2: Maria Bonita maiden mineral resource, as described in this release, in relation to the Cajueiro Central mineral resource which comprises 185,000 ounces of gold in the Indicated category (5.66Mt @ 1.02 g/t) and an additional 515,000 ounces in the Inferred category (12.66Mt @ 1.26 g/t). Untested district drill targets are depicted by yellow labels.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4500/250784_7bf8a4c5340228dd_005full.jpg
Qualified Person
Volodymyr Myadzel, PhD, MAIG, 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.
Further details supporting the geological model, estimation procedure and block modeling will be available in a National Instrument 43-101 Technical Report authored by Volodymyr Myadzel, PhD, MAIG, of VMG Consultoria e Soluções Ltda of Belo Horizonte, Minas Gerais, Brazil. The report will be posted under the Altamira profile at www.sedarplus.ca within 45 days from the date of 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, strategically advancing six 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**. Leading the portfolio is the Cajueiro project, a highly prospective asset with an NI 43-101 compliant resource estimate of 185,000 ounces of gold in the Indicated category (5.66Mt @ 1.02 g/t) and an additional 515,000 ounces in the Inferred category (12.66Mt @ 1.26 g/t).
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 scalability. With a rich geological setting and a track record of significant discoveries, the Company is well-positioned to unlock further value across its expansive land package.
*NI 43-101 Technical Report, Cajueiro Project, Mineral Resource Estimate: Global Resource Engineering, Denver Colorado USA, 10th October 2019; Authors K. Gunesch, PE; H. Samari, QP-MMSA; T. Harvey, QP-MMSA
** 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: 604.676.5660
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250784
FAQ
What is the total gold resource announced in Altamira Gold's (EQTRF) Maria Bonita maiden estimate?
What is the higher-grade resource at Maria Bonita using 0.5 g/t cut-off?
Where is Altamira Gold's Maria Bonita project located?
How many additional porphyry gold targets does Altamira have in the Cajueiro district?
What is the strip ratio for the Maria Bonita deposit?
