Highlights

  • Altitude Minerals confirmed that the Firenze Ag-Au Project in Nevada, USA, is drill-ready with BLM permits approved and bond lodged. A 2,600m RC drilling programme of 9 holes to depths of 250m has been designed to test a 1.2km NW-SE structural corridor defined by CSAMT geophysics and drone magnetics, with access and drill site preparation commencing in early May 2026.
  • Historical surface rock chip samples at Firenze include 1,825 g/t Ag and 22.5 g/t Au; 534 g/t Ag and 43.9 g/t Au; and 1,250 g/t Ag and 9.3 g/t Au, consistent with a low-sulphidation epithermal system in the upper erosional level above the primary gold-silver boiling zone. Targeting was led by Principal Geologist (USA) Gabe Graf, who contributed to resource additions at the Midas Mine in Nevada using CSAMT.
  • ATT shares surged AUD 0.002 (13.333%) to AUD 0.017 on volume of 2,184,826 and a market cap of AUD 5.33 million on 22 April 2026.

 

Altitude Minerals (ASX:ATT) shares gained AUD 0.002, or 13.333%, to AUD 0.017 during the trading session on 22 April 2026, on volume of 2,184,826 shares with a bid-offer spread of AUD 0.016 to AUD 0.017 and a market capitalisation of AUD 5.33 million. The 13.3% gain — driven by a single one-cent tick increase from AUD 0.016 to AUD 0.017 — reflects the structural reality of penny stocks where the minimum price increment is a significant percentage of the share price. Nevertheless, the 2.18 million shares traded represents meaningful volume for a micro-cap explorer and indicates genuine market interest in the Firenze drill permit announcement. For a company of this size, securing BLM drill permits for a Nevada silver-gold target with outcropping high-grade surface samples is a material de-risking event.

Firenze Nevada: Permits Secured and Programme Design

Altitude Minerals' Firenze Ag-Au Project in Churchill County, Nevada — one hour east of Fallon and two hours east of Reno — is now drill-ready following the completion of extensive target validation and the approval of drill permits by the Bureau of Land Management (BLM) with bond lodged. Two weeks of access track and drill pad earthworks will commence in early May 2026, with drilling to follow subject to final contract negotiations and rig availability.

The 2026 drill programme comprises 9 RC holes for 2,600 metres total, designed to test depths from near-surface to 250 metres with angled holes targeting the NW-SE structural corridor, structural splays, and orthogonal vein systems. The programme is specifically designed to test whether the primary boiling zone — where gold concentrates in low-sulphidation epithermal systems through pressure-driven phase separation — exists below the current erosional surface level.

The High-Grade Surface Samples and Geological Model

Surface rock chip sampling at Firenze has returned exceptional grades: 1,825 g/t Ag and 22.5 g/t Au; 534 g/t Ag and 43.9 g/t Au; and 1,250 g/t Ag and 9.3 g/t Au. The high silver-to-gold ratios and low base-metal concentrations at surface are interpreted as the upper level of a zoned low-sulphidation epithermal system, where silver is more vertically and laterally distal than gold. The geological model suggests that the primary gold-silver boiling zone — where bonanza-grade mineralisation commonly occurs — is preserved below the current erosional level.

Target validation included a CSAMT (Controlled Source Audio-Frequency Magnetotellurics) survey that identified a major NW-SE structural corridor of approximately 1.2km strike interpreted as a flower structure coincident with surface mineralisation. Drone magnetic data further defined the boundary between magnetic and demagnetised zones, interpreted as hydrothermal alteration. The Firenze model is being directly compared to the Midas Mine in Nevada, a low-sulphidation epithermal deposit with historical production of approximately 2.2 million ounces of gold and 27 million ounces of silver at approximately 15.5 g/t AuEQ.

Nevada Jurisdiction and Regional Context

Nevada is ranked the world's number one jurisdiction for mining investment attractiveness by the Fraser Institute, reflecting established mining infrastructure, regulatory certainty through well-defined BLM permitting processes, and a history of major discoveries. The Firenze Project is located in a region with significant historical and modern mining activity, with nearby deposits including the Paradise Peak Mine (1.6 Moz Au and 24.1 Moz Ag historical production), Round Mountain operated by Kinross (20.7 Moz Au historical production with current resources of 75.1Mt at 0.8 g/t Au), and the Denton-Rawhide operation (15 Moz Ag and 1.9 Moz Au historical production). Firenze is presented as an undrilled epithermal system in this historically productive mining corridor.

Conclusion

Altitude Minerals' 13.333% session gain to AUD 0.017 on 2.18 million shares and a market cap of AUD 5.33 million on 22 April 2026 is the market's immediate response to confirmation that the Firenze Nevada silver-gold project is drill-ready with BLM permits secured. The combination of exceptional surface rock chips (up to 1,825 g/t Ag), a defined 1.2km structural corridor from CSAMT geophysics, CSAMT-experienced targeting by Gabe Graf, and imminent drill site preparation in the world's top-ranked mining jurisdiction creates a specific near-term catalyst for investors monitoring ATT.