A current-perpendicular-to-plane (CPP) spin valve (SV) sensor and fabrication method with a contiguous junction type geometry that increases sensor resistance by up to two orders of magnitude over conventional CPP GMR geometry for a particular track read-width. The superior CPP GMR coefficient (.delta.r/R) is implemented at an increased sensor resistance by using two small self-aligned SV stacks disposed with the sense current flowing perpendicular thereto when also flowing parallel to the free layer deposition plane. With the CPP geometry of this invention, thicker conductive spacer layers may be used without unacceptable sense current shunting, so the two self-aligned SV stacks may be completed following the free-layer track-mill step. The two SV stacks may be connected in parallel or back-to-back in series to provide different sense voltages.