Cabral Gold drills 2.6 g/t gold over 30 metres at Machichie, Brazil

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Cabral Gold Inc. [TSXV-CBR; OTC Pink-CBGZF] reported assay results from an additional 12 RC holes testing near-surface oxide material at the Machichie Main Zone, Cuiu Cuiu gold district in northern Brazil. These holes are part of a drill program designed to better define and quantify the saprolite and blanket gold-in-oxide mineralization at the Machichie target, which is located just 500m northwest of the MG gold deposit and could have an impact on the current plans for trial-mining oxide material in that area.

Highlights: RC409 returned 30 metres of 2.6 g/t gold from surface in mineralized basement saprolite material including 12 metres of 5.6 g/t gold from 11m depth.

RC418 returned 9m of 4.3 g/t gold in mineralized fresh rock from 41m depth including 2m of 18.6 g/t gold at the start of the 9m interval. RC414 returned 13m of 1.6 g/t gold from surface in mineralized saprolite, including 6m of 2.8 g/t gold from 4m depth.

Other significant new mineralized saprolite drill intercepts include 7m of 2.7 g/t gold from 7m depth in hole RC411, 15m of 0.6 g/t gold from surface in hole RC412 and 18m of 0.6 g/t gold from surface in hole RC413.

Alan Carter, President and CEO commented, “These additional RC drill results from Machichie confirm the presence of a significant zone of near surface gold-in-oxide mineralization at Machichie which appears to overlay another primary gold deposit. Further drilling will be required to fully define the limits to both the weathered gold-in-oxide mineralized material and the underlying hard-rock mineralized zone which was the focus of previous drilling. Both of these zones remain open along strike and to depth. The proximity of Machichie to the MG gold deposit has significant positive implications for the overall near surface gold-in-oxide resources which are amenable to heap leaching at Cuiu Cuiu, as well as the underlying resource base in fresh intrusive basement rocks.”

The Machichie target is located 500m northwest of the MG gold deposit. Previous diamond drilling testing the Machichie Main zone identified an east-trending, steeply north-dipping mineralized zone which is persistent along strike for at least 900m. The Machichie Main zone comprises several parallel high-grade core zones surrounded by a low-grade alteration envelope. The geology at Machichie is very similar in style to the nearby MG and Central gold deposits as well as the PDM discovery.

The current RC drill program at Machichie was designed to identify and better define higher-grade zones within the gold-in-oxide material that could add to the current gold-in-oxide resource at Cuiu Cuiu and could positively impact plans for trial mining.

The results from the initial nine RC holes drilled as part of the current program were very encouraging and included 23m of 1.1 g/t gold from surface in RC399 and 23m of 0.5 g/t gold from surface in RC402. Assay results included in the current press release pertain to drill holes RC408 through RC419.

The current drill results from Machichie together with those previously reported confirm the presence of gold in weathered basement saprolite mineralization extending to surface from depth, and containing zones of higher-grade mineralization.

Results are still pending on 13 RC holes from Central and nine shallower power-auger holes at MG.

The company has a 100% interest in the Cuiu Cuiu gold district located 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 National Instrument 43-101 compliant Indicated resources of 21.6Mt of 0.87 g/t gold (604,000 oz) and Inferred resources of 19.8Mt of 0.84 g/t gold (534,500 oz) as per the 43-101 technical report dated October 12, 2022.

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