Cabral Gold drills 1.6 g/t gold over 20 metres at Cuiu Cuiu, Brazil
Cabral Gold Inc. [TSXV-CBR; OTC-CBGZF] reported drill results from an additional 12 RC (reverse circulation) holes from the MG gold deposit, drilled as part of the continuing drill program currently being conducted at both the Central and MG gold deposits within the Cuiu Cuiu gold district in northern Brazil.
Assay results have been received from an additional 12 RC holes drilled to refine the MG gold-in oxide blanket and basement saprolite wireframe model as a component of an ongoing trial-mining prefeasibility study being conducted by Ausenco.
Highlights include RC375 returned 20 metres of 1.6 g/t gold from surface including 9m of 1.7 g/t gold from surface in the gold-in-oxide blanket and 11 metres of 1.6 g/t gold from 9m downhole in basement saprolite.
RC376 returned 15 metres of 1.8 g/t gold from 5 metres depth in basement saprolite including 2 metres of 9.2 g/t gold from 11.0 metres depth.
Drilling is in progress at the Machichie target, located 500 metres north of MG, where previous drilling suggests the presence of a fourth gold-in-oxide blanket overlying a hard-rock deposit. Previous drilling and trenching traced the primary deposit 900 metres along strike and the deposit appears to be overlain by a gold-in-oxide blanket and saprolite to a maximum of 30 metres thickness.
The current drill program is ongoing. A total of 75 RC holes and nine shallow power-auger holes have been completed to date. Assay results are pending on nine power-auger holes drilled at MG, and 31 RC holes drilled at Central and 18 RC holes drilled at Machichie
Alan Carter, President and CEO, commented, “These additional drill results from 12 RC holes recently completed at the MG gold deposit demonstrate two important points. Firstly, the results further expand the zone of higher grade +1.5 g/t oxide mineralization in the weathered basement saprolite mineralization. Secondly, these results add further support to the fact that the overlying sub-horizontal blanket sediments contain widespread laterally continuous gold mineralization at grades which are remarkably consistent. These additional RC results have increased our confidence regarding the near-surface gold-in-oxide resources in both the blanket sediments and the underlying weathered saprolite material, potentially leading to an expansion of the existing oxide resources at MG.”
The MG gold deposit is one of the two main gold deposits that have been identified to date at Cuiu Cuiu.
Whilst the bulk of the gold resources at MG are contained within the underlying primary (unweathered) basement material (see the NI 43-101 report dated effective July 31, 2022), the overlying oxide material currently contains Indicated Resources of 5.78Mt of 0.5 g/t for 88,300 oz, and Inferred Resources of 1.19Mt of 0.3 g/t for 12,300 oz. A significant amount of higher-grade material (greater than 1.75 g/t gold) is contained within these resources and the current drill program at MG is designed to expand these resources within the near-surface saprolite and blanket material. Results from the initial six RC holes completed as part of this program at MG were encouraging and included 27 metres of 1.9 g/t gold from surface in RC343 and 28 metres of 1.8 g/t gold from surface including 6m of 7.1 g/t gold in RC342.
It is important to note that the most recent resource estimate prepared by SLR Consulting (Canada) Ltd. used a cut-off gold grade for the near surface oxide material of 0.13 g/t gold which represents the value above which material would have reasonable expectation of being economically viable.
The current drill program at MG is being completed as a component of an ongoing trial-mining prefeasibility study being carried out by Ausenco do Brasil Engenharia Ltda. (Ausenco). The objectives of the current drill program are to better define and expand the higher-grade portion of the oxide resources within saprolite and blanket material, particularly closer to surface, to improve confidence in the oxide gold resources, and to aid in the mine planning and sequencing as part of the ongoing Ausenco prefeasibility study.
Drilling is in progress at the Machichie target 500 metres north of MG, where previous drilling suggests the presence of a fourth gold-in-oxide blanket overlying a hard-rock deposit. Previous drilling and trenching traced the primary deposit 900 metres along strike and the deposit appears to be overlain by a gold-in-oxide blanket and saprolite to a maximum of 30 metres thickness.
The current drill program is ongoing. A total of 75 RC holes and nine shallower power-auger holes have been completed to date. Assay results are pending on nine power-auger holes drilled at MG, and 31 RC holes drilled at Central and 18 RC holes drilled at Machichie.
Cabral Gold has a 100% interest in the Cuiu Cuiu gold district in the Tapajos Region, state of Para, northern Brazil.