Cabral Gold drills 2 metres at 52.3 g/t gold at Machichie Main Gold Deposit, Cuiú Cuiú Gold District, Brazil

Cabral Gold Inc. [TSXV: CBR; OTC Pink: CBGZF] reported results from eleven additional reverse circulation (RC) drill holes at the Machichie Main gold deposit within the Cuiú Cuiú Gold District, Brazil.

Highlights: Drill hole RC0499A returned 2 metres at 52.3 g/t gold from 41 metres depth within highly altered intrusive rock in the western part of Machichie Main gold deposit. This is a previously unrecognized zone of high-grade gold mineralization.

Drill hole RC0529 Intersected multiple mineralized intervals including 9 metres at 0.72 g/t gold from 28 metres depth and 25 metres at 0.93 g/t gold from 43 metres depth. Both intercepts are in intrusive rock.

Additional drill results from Machichie Main include 18 metres at 0.87 g/t gold from surface in blanket sediments in RC530; 8m at 0.62 g/t gold from surface in blanket sediments in RC517; 8m at 0.46 g/t gold from 52m depth in altered intrusive rocks in RC523; 8m at 1.26 g/t gold from 13m depth in saprolite and 10m at 0.62 g/t gold from 33m depth in altered intrusive rocks in RC528.

Alan Carter, President and CEO, commented, “These latest drill results from the Machichie Main gold deposit indicate the presence of a new previously unrecognized high-grade zone immediately south of the main gold deposit. These results come on top of recent very high-grade results at the nearby Machichie NE target located 150 metres to the north-east of Machichie Main.

“Furthermore, the presence of excellent gold values in the near surface blanket sedimentary material and saprolite in several drill holes augers well for the expansion of the current gold-in-oxide blanket at Machichie Main and its potential inclusion in revised resource and reserve estimates which are expected in the next few weeks as part of the updated PFS on the gold-in-oxide starter operation.”

Brian Arkell, Cabral’s VP of Exploration and Technical Services noted: “Machichie is a very significant discovery in that it potentially provides a higher-grade source of feed for the proposed oxide heap leach process plant. We’ve hit several higher-grade zones of near-surface mineralization along the 900-metre strike length and our drilling, while still widely spaced, is showing good continuity. This near-surface mineralization remains open in almost all directions and projects downward as well, into the primary zone. We are working on an updated resource model and are currently completing mine design work where we expect to add Indicated Resources to the Oxide Project PFS.”

The Machichie Main zone is an E-W trending zone of gold mineralization which is located 500 metres north of the MG gold deposit. As with the MG and Central gold deposits, the zone of primary mineralization within intrusive rocks is overlain by an extensive weathered layer consisting of near-surface sediments and underlying saprolite (weathered intrusive rock). Both types of material are considered gold-in-oxide material. A preliminary Inferred resource estimate of 3.73 million tonnes (Mt) at 0.5 g/t gold was calculated for the gold-in oxide material only at Machichie Main and was released in October 2024.

Thus far, no resource has been calculated for the primary gold deposit at Machichie Main but drilling and trenching to date has outlined the mineralized zone over 900m strike extent.

The main objective of the current program is to upgrade a significant portion of the current Inferred resources to Indicated status so they can be included in the mine plan for the heap-leach starter operation. The current program of drilling and trenching is also aimed at shedding light on the underlying primary mineralized zone in the intrusive rocks and collecting additional material for a series of metallurgical column-leach tests.

Results were received on 11 RC drill holes (RC499A, RC517, RC523, RC527 to RC530, RC532 to RC534 and RC536) at Machichie Main. The holes were primarily aimed at upgrading and expanding existing resources within the gold-in-oxide zone and shedding light on the location of the mineralized zones within the underlying fresh granitic rocks.

Drill hole RC499A was drilled on section 552960E south of the Machichie Main mineralized zone where previous trenching returned 20m at 3.6 g/t gold in CT051 and drilling returned 16.6m at 1.9 g/t gold including 1m at 29.7 g/t gold in DDH279 and 15.7m at 1.6 g/t gold in DDH300.

RC499A cut a previously unrecognized zone of higher-grade gold mineralization which returned 2m at 52.3 g/t gold from 41m depth in fresh intrusive rocks. This higher-grade mineralized zone is located within the Machichie Main fault zone but occurs between the known mineralized zones and represents an entirely new zone of higher-grade mineralization. It is currently open in all directions and will require further drilling to determine the extent of the mineralized zone.

Excellent results were also returned from RC0529 which was drilled on section 552848E in the western part of the deposit and returned multiple mineralized intervals including 9m at 0.72 g/t gold from 28m depth and 25m at 0.93 g/t gold from 43m depth including 6m at 2.01 g/t gold from 46m depth and 5m at 1.52 g/t gold from 60m depth. Both intercepts are in intrusive rock.

Excellent results were also returned from several other holes, primarily in the near-surface gold-in-oxide material. Notable intercepts include 18m at 0.87 g/t gold from surface in blanket sediments in RC530; 8m at 0.62 g/t gold from surface in blanket sediments in RC517; 8m at 0.46 g/t gold from 52m depth in altered intrusive rocks in RC523; 8m at 1.26 g/t gold from 13m depth in saprolite and 10m at 0.62 g/t gold from 33m depth in altered intrusive rocks in RC528Drilling at Cuiú Cuiú is continuing, with results currently pending on 35 RC drill holes.

The company is planning to increase the number of drill rigs on site in the coming weeks and will provide additional details of the anticipated drill program in the coming weeks.

The company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, Pará state, northern Brazil. Three main gold deposits have so far been defined at the Cuiú Cuiú project which contain NI 43-101 compliant Indicated resources of 12.29Mt at 1.14 g/t gold (450,200oz) in fresh basement material and 11.11Mt at 0.48 g/t gold (171,883oz) in oxide material. The project also contains Inferred resources of 13.63Mt at 1.04 g/t gold (455,100oz) in fresh basement material and 12.22Mt at 0.39 g/t gold (151,608oz) in oxide material.

Cuiú Cuiú was the largest area of placer gold workings in the Tapajós and produced an estimated 2Moz of placer gold historically.