Summary

Mine Type	Underground
Study Completed	Preliminary Economic Assessment
Stage	Permitting
Commodities	Zinc Lead Silver
Mining Method	Drift & Fill Longitudinal retreat Transverse stoping
Backfill type	...
Mine Life	...
Snapshot	Gorno is a high-grade polymetallic brownfield project with clean metallurgy, established infrastructure and solid growth potential. In January 2025, Altamin acquired Appian’s stake in Vedra Metals Srl, gaining full ownership of Gorno. As part of the transaction, Altamin agreed to launch a process to pursue either a direct or indirect sale or to identify a strategic partner. Argent Partners in London is leading this process. Alternatively, Altamin may retain the project and advance it through permitting toward a Final Investment Decision and eventual production. The Ministry of the Environment and Energy Security (MASE) required an EIA for drilling outside the approved Cime EL scope. The EIA Technical Committee later issued a favourable opinion, subject to environmental conditions, for the EIA submitted in February 2025. The next stages of the project are to complete the mine permitting process and the Definitive Feasibility Study.

Deposit type

• Mississippi Valley Type
• Stratabound
• Breccia pipe / Stockwork

Summary:

The Gorno Project (‘Gorno’) encompasses an historically mined, under-explored and extensively mineralised Mississippi Valley type (‘MVT’) zinc-lead geological system with over 8km of demonstrated mineralised strike. To date the Company has explored only a portion of the western quarter of this system.

The Gorno mineral district is an Alpine Type lead-zinc deposit similar to Mississippi Valley Type (MVT) lead-zinc deposits. The mineralisation is broadly stratabound with some breccia bodies and veining also observed. Higher grade and thicker mineralisation are often associated with late-stage brittle faulting which is generally orientated north-south or east-west. The mineralogy is simple consisting of low iron sphalerite, argentiferous galena and minor pyrite. Mineralisation is hosted by the Metallifero Formation which consists predominantly of limestones with interbedded shales in the higher parts of the sequence. The Gorno deposit lies in the “Lombard Basin” of the Italian Southern Alps where during the Permian- Triassic periods a thick sedimentary pile was formed as a result of strong subsidence.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

Metrics
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Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Nov 27, 2025