Altamira Gold Corp V.ALTA

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Altamira Gold Drills 146m @ 1g/t Gold at the Intrusive-Hosted Maria Bonita Discovery, Cajueiro Project, Brazil

Newsfile Corp - May 22, 2024 7:30 AM ADT

Vancouver, British Columbia--(Newsfile Corp. - May 22, 2024) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), ("Altamira" or the "Company") is pleased to announce the results of 12 additional drill holes at the Maria Bonita gold discovery.

Highlights:

• MBA029 returned 146m @ 1.0 g/t gold from 23m depth in hydrothermally altered rhyolite intrusive rocks. This interval is part of a wider zone of mineralization with the entire hole returning 213m @ 0.8 g/t gold and terminating in mineralization, indicating the mineralized body remains open at depth.

• As with previous drill intercepts, the gold values in MBA029 are remarkably consistent with a peak value of 2.4g/t gold. The collar of drill hole MBA029 is located 85m south-east of the original discovery holes and extends the known mineralization both to the north, south and to depth.

• Other significant drill results include:
  • MBA016: 90m @ 0.6g/t Au from 14m and 65m @ 0.4g/t from 118m
  • MBA018: 105m @ 0.5g/t Au from 23m and 24m @ 0.4g/t Au from 144m
  • MBA020: 72m @ 0.4 g/t Au from 59m
  • MBA022: 53m @ 0.7 g/t Au from surface
  • MBA025: 26m @ 0.5 g/t Au from 68m and 40m @ 0.5g/t Au from 118m
  • MBA027: 41m @ 0.4g/t Au from surface

CEO Mike Bennett commented; "This result is by far the best drill intercept to date at Maria Bonita and confirms the depth continuity and pervasive style of the mineralization. We have more than doubled the previous best depth extent to the mineralization. The consistency of gold values down-hole reinforces the presence of a significant disseminated mineralized system in intrusive rocks which is open to the north and south and at depth. It also enhances the prospectivity of the target and suggests a north-east plunge to the known zone of coherent mineralization at or around 1g/t gold. Maria Bonita is a "blind" discovery with no outcrop, and we are extremely encouraged to have now identified extensions to the core mineralized zone which gives us further drill targets to pursue."