Cabral Gold drills 3.1 g/t gold over 11 metres at Cuiu Cuiu, Brazil

Cabral Gold Inc. [CBR-TSXV; CBGRF-OTC] reported assay results from 21 reverse circulation holes drilled in the recently identified gold-in-oxide blanket of the PDM (Pau de Merenda) target within the 100%-owned Cuiu Cuiu gold district, northern Brazil.

RC0324 returned 1.0 metres at 3.1 g/t gold from surface in oxidized and weathered material, including 3.0 metres at 10.5 g/t gold from 5.0 metres.

RC0327 returned 10.0 metres at 0.4 g/t gold from surface in oxidized and weathered material; 15.0 metres at 1.5 g/t gold from 40.0 metres in oxidized material, including 1.0 metre at 19.1 g/t gold.

Other significant drill results from oxidized and weathered material at PDM include RC0333 with 32.0 metres at 0.5 g/t gold from surface; RC0329 with 21.0 metres at 0.5 g/t gold from surface; RC0317 with 14.0 metres at 0.7 g/t gold from surface; RC0322 with 9.0 metres at 0.6 g/t gold from surface; and RC0320 with 11.0 metres at 0.4 g/t gold from surface.

These drill results suggest that the blanket at PDM remains open to the north. Furthermore, the results lend further support to the existing evidence that suggests there are at least two parallel zones of mineralization in the underlying primary basement rocks which remain open to the north and south

Alan Carter, president and CEO, commented: “These latest RC results from the PDM oxide blanket are important for two reasons. Firstly, they further demonstrate the presence of a higher-grade core within the unconsolidated oxide blanket. Secondly, they lend further support to the presence of a second primary mineralized zone in the underlying basement granitic rocks at least 250m in length and sub-parallel to the initial zone of primary basement gold mineralization below the oxide blanket. Whilst we currently have no idea how large the primary gold deposit is at PDM, these results confirm the presence of a second primary zone of gold mineralization in basement granitic rocks underlying the oxide blanket at PDM. Both the gold-in-oxide blanket and the two zones in the primary basement rocks are open to the north and may extend under an area of historic artisanal workings.”

The PDM target is located 2.5km northwest of the Central gold deposit at Cuiu Cuiu within a prominent northwest-trending gold-in-soil anomaly, which has been traced for more than 5km along strike. Within this anomaly lie the Central gold deposit, Central SE target, Central North target, PDM target and Mutum target.

The gold-in-oxide blanket at PDM was initially identified in August 2021 and a program of diamond drilling, initiated in late 2021, subsequently identified an underlying zone of primary gold mineralization in the unweathered granitic basement rocks similar to that at MG and Central.

Results from the initial diamond-drill holes in granitic basement rocks below the gold-in-oxide blanket at PDM included: 22.4m at 4.8 g/t, including 1.35m at 62.0 g/t gold in DDH238: and 11.9m at 3.3 g/t gold, including 0.5m at 16.1 g/t gold, and 1.2m at 16.0 g/t gold in DDH239; and 18.0m at 2.5 g/t gold from 92.0m, including 3.0m at 10.5 g/t gold. These diamond-drill results defined an initial zone of primary gold mineralization trending northwest in the granitic rocks underlying the PDM oxide blanket.

The current RC drilling program at PDM was designed to further define the limits to the high-grade core within the overlying gold-in-oxide blanket, and has confirmed the presence of a high-grade core area.

RC0327 returned 15 metres at 1.5 g/t gold, including 1 metre at 19.1 g/t gold, from 40 metres depth in oxidized and weathered material. This hole is located approximately 250 metres northwest of RC0310 which previously returned 13.0 metres at 4.6 g/t gold from 25.0 metres in oxide material, including 1.0 metres at 49.2 g/t gold from 34.0 metres.

Similarly hole RC0333 returned 32 metres at 0.5 g/t gold and is located between RC0310 and RC0327. These holes lend further support to the existing evidence suggesting the presence of a larger high-grade core to the blanket and a possible additional mineralized structure in the underlying granitic rocks which may be parallel to the main mineralized zone. Diamond drilling of the basement mineralization, which has been undertaken to date at PDM, has not tested this far north.

RC0327 is also located just 40m south of extensive historic artisanal placer gold workings. These are approximately 200m wide and are reported to have been very rich at this location, suggesting the primary mineralization, and possibly the oxide blanket, could extend beneath the historic workings to the north.

RC0324 was drilled on the northwest end of the PDM oxide blanket and approximately 200 metres northwest of the most northerly diamond-drill intercept (DDH275 returned 18m at 2.5 g/t gold) that has tested the initial primary basement discovery. The higher grades from hole RC324, (11.0m at 3.1 g/t gold from surface in oxidized and weathered material, including 3.0m at 10.5 g/t gold) suggest that the initial primary zone could extend at 200 metres, or more, further to the northwest than indicated thus far from current diamond drilling. Whilst this requires confirmation through additional diamond drilling, current drill results suggest that the initial primary zone at PDM could be over 400 mietres in strike length and remains open to the southeast and the northwest.

Other significant drill results which further define the higher-grade core to the gold-in-oxide blanket at PDM include RC0329 with 21.0 metres at 0.5 g/t gold from surface; RC0317 with 14.0 metres at 0.7 g/t gold from surface; RC0322 with 9.0 metres at 0.6 g/t gold from surface; and RC0320 with 11.0m at 0.4 g/t gold from surface.

Preparation of an updated resource estimate for the Cuiu Cuiu project is in progress. The NI 43-101 estimate is being carried out by SLR Consulting (Canada) Ltd. and is expected to be completed during August.

Two gold deposits have so far been defined at Cuiu Cuiu and contain 43-101 compliant Indicated resources of 5.9Mt at 0.90 g/t (200,000 oz) and Inferred resources of 19.5Mt at 1.24 g/t (800,000 oz).