Altamira Gold Welcomes Leading Authority on Porphyry Deposits Dr. Richard Sillitoe as Technical Advisor
Rhea-AI Summary
Altamira Gold (OTCQB: EQTRF) appointed Dr. Richard Sillitoe, a leading porphyry and epithermal systems authority, as technical advisor to support exploration across the Cajueiro Porphyry Gold District in Brazil.
Dr. Sillitoe brings over five decades of consulting experience, 130+ technical papers, industry awards including the Penrose Gold Medal, and a PhD from the University of London (1968). The company reports two diamond-drilling rigs currently operating at Maria Bonita and Cajueiro Central with follow-up and expansion drilling planned.
Positive
- Appointment of world-leading porphyry expert Dr. Richard Sillitoe
- Two diamond rigs actively drilling at Maria Bonita and Cajueiro Central
- Experienced technical oversight from Qualified Person Guillermo Hughes
Negative
- None.
News Market Reaction – EQTRF
On the day this news was published, EQTRF gained 3.51%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers in the Gold industry showed mixed moves, from -4.52% (FSXLF) to 18.1% (GAYMF), while EQTRF fell 4.09%, indicating stock-specific trading rather than a clear sector trend.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 03 | Technical advisor hire | Positive | +3.5% | Appointment of leading porphyry expert and update on active drilling. |
| Nov 19 | Drill results update | Positive | +0.2% | High-grade gold intercept in new porphyry body near Cajueiro Central. |
| Nov 07 | Warrant exercise funding | Positive | +14.3% | Raised capital via warrant exercises to fund extensive drill programs. |
| Nov 03 | Drill rig mobilization | Positive | -1.1% | Second diamond drill rig mobilized to accelerate Cajueiro drilling. |
| Oct 29 | New porphyry discovery | Positive | +6.0% | Initial drilling intersected gold mineralization at Tavares Norte target. |
Recent news has generally led to positive price reactions, with four of the last five events showing gains and only one divergence on otherwise constructive operational updates.
Over the last several months, Altamira Gold focused on building out its Cajueiro porphyry gold district in Brazil. The company reported new porphyry discoveries and mineralized intercepts at targets like Tavares Norte and Morro Verde, while reiterating existing resources at Maria Bonita and Cajueiro Central. It raised $6,284,820 through warrant exercises to fund extensive drilling and mobilized a second diamond drill rig. Today’s appointment of Dr. Richard Sillitoe as technical advisor aligns with this exploration-led growth strategy and ongoing multi-rig drilling.
Market Pulse Summary
This announcement highlighted the strategic addition of Dr. Richard Sillitoe, a globally recognized porphyry and epithermal systems specialist, to support Altamira’s exploration in Brazil. It reinforced that two diamond drill rigs were active at the Maria Bonita and Cajueiro Central deposits, extending a sequence of drilling, discovery and funding updates over recent months. Investors may watch forthcoming drill results, resource updates, and how Sillitoe’s guidance influences targeting across the Cajueiro Porphyry Gold District.
Key Terms
porphyry technical
epithermal systems technical
diamond drilling technical
Qualified Person regulatory
National Instrument 43-101 regulatory
AI-generated analysis. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - December 3, 2025) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTCQB: EQTRF) ("Altamira" or the "Company"), is pleased to announce the appointment of Dr. Richard Sillitoe as technical advisor to support exploration work across its Cajueiro Porphyry Gold District, Brazil.
Dr. Sillitoe is recognized as one of the world's leading authorities on porphyry and epithermal systems. During more than five decades as an independent consultant, he has worked with mining companies, international agencies and government groups in over 100 countries. His field-based approach to deposit modelling has contributed to the discovery and advancement of major copper and precious metal deposits around the world.
A prolific contributor to economic geology, Dr. Sillitoe has authored more than 130 technical papers and several books documenting key discoveries throughout the circum-Pacific region. His contributions have earned industry awards in Europe, Australia and the Americas, including the Penrose Gold Medal from the Society of Economic Geologists, where he served as president from 1999 to 2000.
Dr. Sillitoe earned his PhD from the University of London in 1968. He began his career with the Geological Survey of Chile before returning to London for a Shell postdoctoral fellowship at the Royal School of Mines. He later established a global consulting practice that has fundamentally shaped modern understanding of porphyry and epithermal systems.
CEO Mike Bennett commented; "We are very pleased to have Dick join us at a key stage for the Company. We have multiple gold prospects in a demonstrated porphyry district at Cajueiro. His knowledge of mineralized porphyry and epithermal systems is unmatched, and his perspective will help us refine our targeting and advance the porphyry potential we are seeing across our Cajueiro District. With two rigs currently drilling on site, we will continue follow-up drilling of the new discoveries and move ahead with expansion drilling at the Maria Bonita and Central gold deposits."
Drilling Update
Diamond drilling with two rigs is currently in progress at both the Maria Bonita deposit and the Cajueiro Central deposit.
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 gold3. 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.
1NI 43-101 Technical Report, Cajueiro Project, Mineral Resource Estimate: Global Resource Engineering, Denver Colorado USA, 10thOctober 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. 12th 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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276775
FAQ
Who is Altamira Gold's new technical advisor and what is his expertise for EQTRF?
When did Altamira Gold announce Dr. Richard Sillitoe as technical advisor for EQTRF?
What drilling activity is Altamira Gold conducting at Cajueiro for EQTRF?
How will Dr. Sillitoe support Altamira Gold's exploration at Cajueiro for EQTRF?
Who supervised the technical information in Altamira Gold's EQTRF announcement?
