The Alta Floresta Gold Belt in Mato Grosso, Brazil produced more than 6 million ounces of alluvial gold between 1980 and 2000 — yet nobody ran a systematic hard-rock drill program over its most prolific centres until Altamira Gold (TSXV: ALTA) showed up. That gap between historic production and modern exploration is where the opportunity lives.
Altamira holds over 113,000 hectares of exploration and mining titles across three projects in the belt. The flagship Cajueiro Project alone covers approximately 28,000 hectares, and it is already home to two NI 43-101 mineral resources with a combined footprint that keeps expanding with every drill campaign.
Cajueiro Central is the anchor. The deposit carries an NI 43-101 resource of 185,000 oz Indicated at 1.02 g/t Au and 515,000 oz Inferred at 1.26 g/t Au — grades that support a favourable open-pit mining scenario. Metallurgical test work on oxide material has returned 90%+ gold recovery, pointing toward heap-leach potential that could keep capital costs lean.
Cajueiro Central remains open at depth and laterally. That matters because the deposit was estimated at a US$1,500/oz gold price in 2019 — well below where gold trades today — meaning the resource boundary was drawn conservatively. Near-term step-out drilling is targeting several identified lateral extensions.
Seven kilometres west of Cajueiro Central sits Maria Bonita — described as Brazil's first confirmed gold porphyry. Discovered in 2022 via drill testing of a soil anomaly, it delivered a maiden open-pit resource in May 2025: 357,800 oz Indicated at 0.46 g/t Au and 362,400 oz Inferred at 0.44 g/t Au, both at a 0.2 g/t cut-off.
The geometry at Maria Bonita is compelling. The waste-to-mineralized material strip ratio within the optimised pit sits at just 0.5:1, and fresh rock begins only ~10 metres below surface. At a tighter 0.5 g/t cut-off, the higher-grade core holds 176,250 oz Indicated at 0.72 g/t Au and 152,940 oz Inferred at 0.92 g/t Au — a higher-grade starter scenario within the larger envelope.
Maria Bonita is also still wide open. The deposit remains open to the west, south, and at depth. A May 2026 step-out drill result returned 130 metres at 0.5 g/t Au, 110 metres north of the current resource boundary — a clean signal that the resource estimate published just months ago is already understating the system.
Maria Bonita is the first of nine porphyry-gold targets identified within the Cajueiro district. Eight additional drill-ready targets sit within 10 km of Cajueiro Central. If even a fraction of those targets replicate what Maria Bonita delivered, the scale of this land package changes materially.
Infrastructure is not an afterthought here. The Cajueiro Project benefits from existing road access and hydropower in a region of Mato Grosso undergoing rapid agricultural development. The CEO is resident in Alta Floresta, approximately 75 minutes from the project — operational proximity that keeps timelines honest and costs grounded.
Beyond Cajueiro, Altamira's Apiacas and Santa Helena projects add additional exposure across the belt. Planned drone magnetometer surveys at Apiacas represent the next step in unlocking what lies beneath another historically productive alluvial centre — one that has never seen modern hard-rock exploration.
The near-term catalyst stack is dense. Resource expansion drilling is active at both Maria Bonita and Cajueiro Central. Initial drill testing of the eight new porphyry targets is planned. Permitting is advancing. And the May 2026 step-out result at Maria Bonita suggests the next resource update will carry a larger number than the one released just months ago.
With over 1.4 million combined ounces already in the ground across two deposits — both open — and eight untested porphyry targets queued up on the same land package, Altamira is not a concept story. It is an execution story, and the drill bit is turning right now.
The investor package has the full resource details, target maps, and the Maria Bonita porphyry data. If you are building a position before the next resource update, this is the document you want in your hands first.