Cabral achieves first gold pour at Brazilian mine, shares rise
Cabral Gold Inc. [CBR-TSXV, CBGZF-OTC] has announced the first gold pour at its Phase 1.0 Cuiu Cuiu mine in Brazil. The company said commissioning of the dry circuit at the Cuiu Cuiu mine was completed in July, 2026. Commissioning of the wet circuit is now nearing completion, well ahead of schedule. As part of the commissioning process, Cabral has successfully completed the first gold pour, producing approximately 1,130 ounces of gold.
“In achieving this significant milestone, the Cuiu Cuiu mine has become the newest producing gold mine in Brazil and Cabral has joined the ranks of the industry’s producers,’’ the company said in a press release.
Cabral is now focused on ramping up mining and ore stacking operations Cuiu Cuiu, targeting a stacking rate of 3,000 tonnes per day and commercial production by the end of 2026. Once through the ramp-up phase, Cabral expects to issue formal production guidance for the 2027 calendar year.
Calbral Gold shares advanced on the news, rising 5.4% or $0.08 to $1.56. The shares trade in a 52-week range of $1.57 and 38 cents.
The company has a 100% interest in the Cuiu Cuiu gold district, which is located in the Tapajos Region, within the state of Para, northern Brazil.
Three main gold deposits have so far been defined at the Cuiu Cuiu project, which contain a NI 43-101-compliant indicated resource of 12.29 million tonnes of 1.14 g/t gold (450,200 ounces) in fresh basement material, and 11.11 million tonnes of grade 0.48 g/t gold (171,883 ounces) in oxide material. The project also contains an inferred resource of 13.63 million tonnes of 1.04 g/t gold (455,100 ounces) in fresh basement material and 12.22 million tonnes of 0.39 g/t gold (151,608 ounces) in oxide material.
Cuiu Cuiu is located next to G Mining Ventures Corp.’s [GMIN-TSXV, GMINF-OTCQB] 2.0 million-ounce TZ project, which is currently under construction and was expected be Brazil’s third largest gold mine. Cuiu Cuiu is a district containing 43 targets that are peripheral to the known deposits.
“It has been a privilege to lead our team of professionals taking the project from concept stage in 2023 to the first gold pour in under three years,’’ said John Sestan, Vice-President Project Development at Cabral. “Our Phase 1.0 project, which processes gold-in-oxide material, has been shaped by continuous improvement and optimization while holding a very tight schedule to first production and cash flow,’’ he said.
“The completed Phase 1.0 operation includes several low-cost, readily available expansion opportunities that we are assessing. It also provides an operating base, along with valuable local project development and construction experience, that should simplify and de-risk the planned expansion into the significant hard rock Phase 2 component of our development strategy.’’
The company has said it hopes to generate near-term cash flow by exploiting the near-surface gold-in-oxide blankets, initially on a trial mining basis. It said this will eliminate the need for dilutive equity financings.
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