Altamira Gold Intersects High Grade Gold Mineralization within the Cajueiro Mineral Resource and Commences Drilling at the Untested Mombaque and Guillermo Porphyry Targets, Brazil
Altamira weaponizes $10 million war chest as Sillitoe-backed porphyry hunt expands beyond maiden resources.
The news release dated January 28, 2026, details high-grade gold intercepts at the Cajueiro Central project and the commencement of drilling at two previously untested porphyry targets, Mombaque and Guillermo. Key drill results include hole CJO 117, which returned 2.3m @ 6.1 g/t Au (including a high-grade spike of 0.7m @ 19.0 g/t Au) within the existing resource area. More significantly for scale, hole CJO 114 intersected 7.5m @ 1.02 g/t Au and 5m @ 1.46 g/t Au outside the current resource boundaries, confirming lateral extensions. The company is now utilizing two rigs: one focused on resource expansion at Maria Bonita and Cajueiro Central, and a second "scout" rig testing district-scale targets.
The impact is Material - Positive for three primary reasons: - Resource De-risking: The high-grade intercept (19 g/t) in the Baldo sector validates the "sweet spots" within the primary mineralization, while expansion hits suggest the current 700k oz resource at Cajueiro Central has immediate room to grow. - Strategic Evolution: The transition from defining a single deposit to testing a "district-scale" model is supported by the appointment of Dr. Richard Sillitoe (Dec 2025), a world-renowned porphyry expert. This increases the probability of a "Game Changer" discovery at the untested Mombaque or Guillermo targets. - Financial Fortification: Unlike previous years where the company operated on a "shoestring" budget (under $1M cash), the recent $6.3M warrant exercise (Nov 2025) and the $5.28M placement (July 2025) provide the capital necessary to maintain a two-rig program without immediate dilution concerns.
Altamira Gold is a Canadian junior explorer focused on the Alta Floresta Belt in Mato Grosso, Brazil. - Flagship Project: The Cajueiro Project. - Resource Base: Comprises two main areas: Cajueiro Central (185k oz Indicated @ 1.02 g/t, 515k oz Inferred @ 1.26 g/t) and Maria Bonita (358k oz Indicated @ 0.46 g/t, 362k oz Inferred @ 0.44 g/t). - Total Resource: Approximately 1.4 million ounces of gold across all categories.