Cabral Gold drills 3 g/t gold over 10 metres at the Machichie West Target, Brazil

Cabral Gold Inc. [TSXV-CBR; OTC Pink-CBGZF] reported drill results from 15 initial reconnaissance RC holes drilled at the Machichie West target within the Cuiú Cuiú gold district, Brazil.

Highlights: RC439 returned 10 metres of 3.00 g/t gold from 11 metres depth in weathered saprolite including 5 metres of 5.37 g/t gold from 13 metres depth.

RC427 returned 13 metres of 1.00 g/t gold from 19 metres depth in weathered saprolite, including 2 metres of 4.80 g/t gold.

RC430 returned 8 metres of 0.36 g/t gold from surface in blanket sediments followed by 9 metres of 0.27 g/t gold in weathered saprolite. The hole also intersected 8 metress of 0.60 g/t gold from 26.0 metred depth including 1 metre of 3.78 g/t gold in hard rock.

These RC results from Machichie West suggest the presence of additional mineralized structures which have not been previously recognized which could in the near-term provide additional near surface oxide material for the trial mining and heap leach processing operation which is currently the subject of the ongoing PFS study

Alan Carter, President and CEO, commented, “The Machichie West target has never been previously tested by drilling, but previous trenching produced encouraging results including 96.5 metres of 0.6 g/t gold and 138 metres of 0.5 g/t gold. Following the recent success of near-surface drilling at the Machichie NE target where RC421 recently returned 11 metres of 33 g/t gold, this maiden reconnaissance drill program at Machichie West was designed to follow up surface trench results and define the near surface potential for additional oxide resources. The results from hole RC439 look particularly encouraging and may indicate the presence of another new zone of gold mineralization which extends to surface. As with recent results from the Machichie Main and Machichie NE zones, these results indicate the presence of additional near surface gold-in-oxide mineralization in close proximity to the MG gold deposit.”

The Machichie area occurs 500 metres north of the MG gold deposit. To date, Cabral has drilled three mineralized zones at Machichie: Machichie Main, Machichie NE, and Machichie West. Machichie West is located immediately west of Machichie Main and approximately 800 metres west southwest of Machichie NE where RC421 recently returned 11 metres of 33.0 g/t gold in a new previously unrecognized high-grade zone of bonanza gold mineralization. Machichie West comprises a 500 x 300m area with numerous NE trending veins in intrusive rocks where previous trenching returned long low-grade intervals of gold mineralization including 96.5 metres of 0.6 g/t gold and 138 metres of 0.5 g/t gold.

The Machichie West target has never been previously drill tested but was recently subject to a series of reconnaissance drill holes as part of the company’s ongoing RC drill program aimed at identifying near-surface oxide resources in close proximity to the MG gold deposit that could provide additional feed for the trial mining/heap leach processing of near surface oxide material which is currently subject to an ongoing PFS.

The 15 holes reported here were drilled in three main traverses oriented N-S to NW-SE in order to maximise the chances of intersecting what is interpreted from surface trenching to be a series of NE trending mineralized structures.

Results are currently pending on 5 additional RC holes from Machichie West as well as 5 additional RC drill holes and 2 diamond drill holes from Machichie NE where follow up drilling is aimed at determining the size and continuity of the high-grade bonanza zone recently intersected in RC421.

Brian Arkell, Vice President Exploration and Technical Services, commented: “The drilling at Machichie is still widely spaced and there some large gaps, but it appears that Machichie West is the westward continuation of the major E-W trending structural zone coming out of Machichie Main zone. Mineralization is still open to the west as well as the east where we have a large gap in drilling between Machichie West and Machichie Main. The overall Machichie trend has now been defined as over 1.5 km long, and given the proximity to MG, Machichie could provide significant upside to the overall gold-in-oxide development project.”

The company is primary focused on gold properties in Brazil. Cabral Gold has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará, northern Brazil. Two main gold deposits have so far been defined at the Cuiú Cuiú project which contains NI 43-101 compliant Indicated resources of 21.6Mt of 0.87 g/t gold (604,000 oz) and Inferred resources of 19.8Mt at 0.84 g/t gold (534,500 oz) as per the NI 43-101 technical report dated October 12, 2022.