Cabral drills new gold zone at Cuiu Cuiu District, Brazil
Cabral Gold Inc. [CBR-TSXV, CBGZF-OTC] has announced results from ten additional diamond drill holes at the Jermium Cima target within the Cuiu Cuiu Gold District in Brazil.
The company said drilling at the Jermium Cima target, located 3.0 kilometres northeast of the Central gold deposit and 3.5 kilometres northwest of the MG gold deposit at Cuiu Cuiu has returned 8.9 metres of 5.8 g/t gold from 208.1 metres depth, including 1.8 metre at 28.4 g/t gold from 212.2 metres depth in hole DDH411.
The intercept in DDH411 is interpreted as a new mineralized zone which is located 200 metres south of the main mineralized zone at the Jermium Cima. The company said this new zone appears to trend east-west, is parallel to the main zone, and is open to the east, west and at depth.
Other highlights include DDH393, which was designed to test the down dip extension of the northern-most zone of mineralization at Jermium Cima and returned 9.3 metres at 2.78 g/t gold from 207.1 metres depth, including 1.7 metres at 7.2 g/t gold from 207.1 metres depth. The hole also intersected 10.2 metres of 1.00 g/t gold from 225 metres depth.
“The identification of a new mineralized zone at Jermium Cima, located approximately 200 metres south of and running parallel to the main centrally-located high-grade zone, is highly encouraging,’’ said Cabral President and CEO Alan Carter. “This opens up the possibility of additional high-grade gold mineralization at the Jermium Cima target which has already returned some spectacular drill results, including DDH385 which recently returned 9.5 metres of 87.4 g/t gold,’’ he said. “Further drilling will be required to determine the extent and along strike continuity of this new mineralized zone which remains open to the east, west and at depth.”
Calbral Gold shares were unchanged at $1.35 Thursday and trade in a 52-week range of $1.46 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-TSX, GMINF-OTCQB] 2.0 million-ounce TZ project, which is currently under construction and was expected be Brazil’s third largest gold mine when it enters production in the second half of 2024. Cuiu Cuiu is a district containing 43 targets that are peripheral to the known deposits.