By Brazil Stock Guide – Altamira Gold Corp. (TSXV: ALTA; OTCQB: EQTRF) said it intercepted additional gold mineralization outside the existing Maria Bonita resource at its Cajueiro project in Brazil, pointing to a possible western extension of the porphyry system.
The Vancouver-based junior miner said drill hole MBA036 returned 70.6 meters at 0.5 gram per tonne of gold from 277 meters to the end of the hole. A separate interval returned 19 meters at 0.5 gram per tonne of gold from 239 meters.
The result is not about high-grade gold. It is about footprint. The hole was drilled below and west of the current Maria Bonita resource and appears to have hit a separate body of early-stage porphyry mineralization, similar in style to the quartz-vein and stockwork mineralization seen in the core of the deposit.
Chief Executive Mike Bennett said the results indicate that the Maria Bonita mineralized porphyry system extends farther west than previously known. The company said additional drilling will be required to determine the western limit of the mineralization.
Cajueiro, located about 75 kilometers northwest of Alta Floresta in Mato Grosso, is Altamira’s most advanced project in Brazil. The district includes two independently estimated gold resources, Cajueiro Central and Maria Bonita, as well as several additional exploration targets.
The update gives Altamira a broader exploration story at Cajueiro, but the investment case remains early-stage. The latest intercepts support the idea of a larger mineralized system, yet the company still needs more drilling, resource work and economic studies before the discovery can be translated into development value.