Gorno’s Resource Boundaries Expand Amidst New High-Grade Discoveries

Exceptional Grades Extend Gorno's Mineralisation

Altamin Limited (ASX: AZI) has announced the fourth and final batch of assay results from its 2024 channel sampling program at the Gorno Project in Italy’s Lombardy region. The results reveal exceptionally high-grade zinc, lead, and silver mineralisation extending beyond the current Mineral Resource Estimation (MRE) footprint, particularly in the Parina East and Pian Bracca North areas. This marks a significant milestone in the company’s ongoing efforts to unlock new value from this historic mining district.

New Zones in Previously Inaccessible Areas

The sampling targeted underground development drives and sublevels that were previously inaccessible or not considered material to the existing resource model. Rehabilitation efforts allowed the geology team to safely access these zones, where they conducted detailed mapping and channel sampling. Out of 26 channels sampled, half returned significant mineralised intersections, with standout results including intercepts grading up to 47.1% zinc, 18.6% lead, and 179 grams per tonne silver over intervals exceeding one meter.

These results confirm the presence of Pian Bracca-style mineralisation in the Metalliferro and Breno limestone formations, which lie beneath and adjacent to the current MRE. The findings suggest that mineralisation continues down dip and laterally beyond the previously modelled ore horizons, effectively bridging gaps in the existing Ore Block Model and expanding the known mineral inventory.

Robust Sampling and Quality Assurance

The channel sampling program employed industry-standard techniques, including diamond disc saw cutting and representative sampling intervals, supported by rigorous QA/QC protocols. Samples were analyzed at ALS laboratories using four-acid digestion and ICP methods, ensuring reliable assay data. The program’s systematic approach and detailed geological logging have enhanced understanding of the structural and rheological controls on mineralisation, which will inform and optimise future exploration strategies.

Implications for Resource Growth and Future Work

While no immediate resource upgrade has been announced, these high-grade assay results strongly support the potential for an increase in Gorno’s Mineral Resource. The company plans to follow up with further exploration to test the continuity of mineralisation at key targets including Zorzone, Cascine, Pian Bracca, and Ponente. This phase 1 channel sampling program has laid the groundwork for expanding the project’s footprint and advancing its development aligned with the EU’s energy transition goals.

Altamin’s Executive Chairman Alexander Burns highlighted the significance of these findings, noting that the results validate the company’s exploration model and reinforce Gorno’s status as a highly prospective base metals project in Europe.