Cabral Gold drills 33 g/t gold over 11 metres at Cuiu Cuiu, Brazil

Cabral Gold Inc. [TSXV-CBR; OTC-CBGZF; FSE-C3J] reported drill results from five reverse circulation holes drilled at the Machichie Main and Machichie NE targets, Cuiu Cuiu gold district, Brazil.

Highlights: RC421 drilled at the Machichie NE target returned 11 metres at 33 g/t gold from 50 metres depth in saprolite and weathered and altered bedrock, including four m at 89.3 g/t gold from 52 metres depth.

RC420 drilled at the Machichie Main zone returned 25 metres at 2.9 g/t gold from surface in weathered saprolite, including 12 metres at 5.5 g/t gold.

RC422 also drilled at Machichie NE returned 21 metres at 1.3 g/t gold from surface in saprolite, including 3 metres at 7.5 g/t gold, and 13 metres at 0.5 g/t gold from 36 metres depth, also in saprolite.

These RC results from Machichie NE confirm the presence of another east-west-trending mineralized structure 150 metres north of the Machichie Main zone discovery where very limited previous drilling returned gold intercepts, including 34 metres at 5.4 g/t gold. Machichie Main and Machichie NE are located 500 m and 650 m, respectively, north of the MG gold deposit.

Alan Carter, president and CEO, commented: “The assay results from RC421 at the Machichie NE target are amongst the top three drill holes ever drilled at Cuiu Cuiu and are the best results drilled to date outside of the known Central and MG gold deposits. The Machichie NE target is located immediately north of the Machichie Main zone discovery and the MG gold deposit all of which contain high-grade east-west-trending mineralized structures.

“The extent of the mineralized structures at both Machichie NE and Machichie Main still need to be determined. These results not only have very positive implications for the presence of additional near-surface gold-in-oxide resources at Cuiu Cuiu, but also suggest the presence of significant zones of high-grade mineralization in primary bedrock underlying the weathered material. Further drilling is in progress and is aimed at determining the size of both the Machichie Main zone and the more recent Machichie NE discovery.”

Brian Arkell, vice-president, exploration and technical services, commented: “The Machichie area continues to return very encouraging results especially in the northeast where we are encountering higher grades in major structural breaks. These are some of the highest grades encountered to date on the property and illustrate the significant exploration potential, not only laterally and at depth, but also within newly defined subparallel structural zones. Results thus far at Machichie demonstrate significant potential to add resources and higher-grade material to our oxide project, especially given the proximity of the Machichie NE and Machichie Main zones to the MG gold deposit. Further results are expected in the coming weeks as we continue to prioritize drilling for extensions where mineralization remains open to both the west and east.”

Cabral Gold recently announced an extended drilling program following the receipt of successful results in the latest round of drilling at Central and MG where the company is completing a prefeasibility study on a heap leach oxide project. The current drilling program has focused on the Machichie target area.

Cabral has defined at least three zones of gold mineralization within the Machichie target area: Machichie Main, Machichie West and Machichie NE. These targets occur along major structural breaks parallel to, and immediately north of, the MG gold deposit.

The Machichie NE target is located 150 metres north of the Machichie Main zone discovery and 650 metres north of the MG gold deposit. While drilling remains in progress, results to date have been extremely encouraging.

The company has a 100% interest in the Cuiu Cuiu gold district in the Tapajos region, within the state of Para, northern Brazil. Two main gold deposits have so far been defined at the Cuiu Cuiu project which contains NI 43-101 compliant indicated resources of 21.6 million tonnes at 0.87 g/t gold (604,000 ounces) and inferred resources of 19.8 Mt at 0.84 g/t gold (534,500 oz) as per the NI 43-101 technical report dated October 12, 2022.