How Altitude Minerals Plans to Unlock Nevada’s Untapped Silver-Gold Bonanza

Strategic Acquisition in Nevada

Altitude Minerals Ltd (ASX – ATT) has made a significant move by securing the Firenze Silver & Gold Project in Nevada, USA. This project is notable for its outcropping bonanza-grade silver and gold veins that have never been drilled, largely due to its previous classification as a Bureau of Land Management Wilderness Study Area until late 2022. The acquisition, finalized with a Definitive Purchase Agreement in October 2025, opens a rare opportunity to explore a high-quality jurisdiction renowned for its mining-friendly environment and proximity to established deposits.

Historical rock chip samples from the Firenze Project show exceptionally high grades, with silver values exceeding 1,800 grams per tonne and gold up to 44 grams per tonne. Altitude plans to commence detailed mapping, geophysical surveys, and drill planning with the first drilling campaign scheduled for the first half of 2026.

Advancing Australian Exploration

Back home, Altitude continues to build momentum across its Australian projects. In South Australia’s Eromanga Basin, the company was granted two new tenements, Nilpinna and Eddy, highly prospective for Heavy Mineral Sands (HMS). A 4,072-metre air-core drilling program was completed across these tenements and Douglas Creek, with samples currently undergoing assay analysis expected in December. The initial sampling has identified promising concentrations of valuable minerals such as zircon, ilmenite, and rutile.

Meanwhile, in New South Wales, Altitude validated several high-priority copper-gold porphyry targets at the Byrock Project within the Macquarie Arc. These targets exhibit pipe-like geophysical features, and drill permits have been secured for a 1,500-metre air-core and reverse circulation program planned for November. This program aims to test shallow, potentially high-impact mineralisation zones that could become flagship assets for the company.

Corporate Developments and Funding

Reflecting its broader exploration ambitions, the company officially changed its name from Copper Search Limited to Altitude Minerals Ltd in July 2025, aligning its brand with a multi-commodity strategy. To support its expanding portfolio, Altitude completed two placements totaling $3 million during the quarter. These funds are earmarked for the Firenze acquisition, drilling programs in NSW, completion payments for tenements acquired from Rimfire Pacific, and general working capital.

At quarter-end, Altitude held $1.66 million in cash, with an additional $1.9 million expected from the second tranche of the recent placement, pending shareholder approval at the upcoming AGM. The company also announced the retirement of Non-Executive Director Greg Hall, effective 31 October 2025, marking a governance transition as it enters a new phase of exploration activity.

Looking Ahead

Altitude Minerals is executing a ‘pipeline of drill targets’ strategy designed to maintain continuous news flow and exploration progress. Investors can anticipate assay results from the Eromanga HMS drilling in December, followed by drilling updates from the Byrock copper-gold targets and the inaugural drill campaign at the Firenze Project in 2026. With a diversified portfolio spanning silver, gold, copper, and heavy mineral sands, Altitude is positioning itself as a dynamic explorer in both Australian and international mining jurisdictions.