Cabral Gold drills 24.5 g/t gold over 5 metres at Central Project, Brazil

Cabral Gold Inc. [TSXV: CBR; OTC Pink: CBGZF] has released drill results from two additional diamond drill holes at the Machichie Northeast (NE) target and 17 RC (reverse circulation) holes targeting the gold-in-oxide mineralization at the Central gold deposit, Cuiu Cuiu gold district, Brazil.

Highlights: DDH331 at Machichie NE returned one metre at 14.2 g/t gold from 44.5 metres depth and 5 metres at 24.5 g/t gold from 82 metres depth in hard rock, including two m at 60.5 g/t gold from 82 metres depth.

DDH331 is another step-out hole from RC421, which was previously reported and intersected 11 metres at 33.0 g/t gold, including 4 metres at 89.3 g/t gold. Drill hole RC0449 also intersected the same zone and returned six m at 13.3 g/t gold, including one metre at 77.5 g/t gold.

The high-grade intercept of 5 metres at 24.5 g/t gold in DDH331, together with those previously reported from RC0421 and RC0449, extend the Machichie NE zone along strike to at least 200 metres. The zone remains open in all directions and at depth and trends northwest-southeast.

RC drilling at Central was primarily conducted outside the current outline of the Central gold-in-oxide starter pit and is aimed at upgrading inferred resources to indicated resources. Results from recent drilling include 56 metres at 0.85 g/t gold in RC0475, 41 metres at 0.37 g/t gold in RC0476, 9 metres at 0.54 g/t gold in RC0465, and 8 metres at 0.57 g/t and 7 metres at 1.20 g/t gold in RC0474.

Alan Carter, president and CEO, commented: “The results from DDH331 suggest the Machichie NE zone contains significant high-grade gold mineralization and extends for at least 200 metres along strike. The mineralized zone, which is open at depth and along strike, is located just 650 m north of the MG gold deposit and only 150 metres northeast of the Machichie Main zone. These results further support previous high-grade drill results at Machichie NE, including 11 metres at 33 g/t gold and 6 metres at 13.3 g/t gold. These latest drill results continue to suggest that we have made a significant gold discovery at Machichie NE.

“At the Central gold deposit, the RC drill results from the gold-in-oxide material suggest that much of the current gold-in-oxide inferred resources, which were not considered in the recently released prefeasibility study, could likely be upgraded to indicated resources. If so, this material may be included in an updated mine plan for the Central deposit in the coming months and prior to a construction decision.”

The Machichie NE target is one of at least three targets (Machichie West, Machichie Main and Machichie NE) within the Machichie area, which is located approximately 500 metres north of the east-west-trending MG gold deposit. None of the Machichie targets currently have defined indicated resources due to insufficient drilling and the recently published 58,000-ounce (oz) gold-in-oxide Inferred resource for Machichie Main zone (see news release dated Oct. 21, 2024) is for a limited region. It is worth noting that the mineralization at Machichie Main has been traced for 1.5 km along strike in an east-west direction, and is open in all directions and at depth. Previous drill results at Machichie Main include 34 metres at 5.4 g/t, 6.4 metres at 11.6 g/t and 45 metres at 1.0 g/t gold.

Recent follow-up drilling at Machichie NE intersected a previously untested zone of high-grade gold mineralization within basement saprolite and fresh basement with RC0421 returning 11 metres at 33.0 g/t gold from 50 metres to 61 metres depth, including 4 metres at 89.3 g/t gold, and an initial step-out hole (RC0449) returning 6 metres at 13.3 g/t gold, including one metre at 77.5 g/t gold. Diamond drill hole DDH331 was collared 100 metres southeast of RC0421 and returned one metres at 14.2 g/t gold from 44.5 metres depth and 5 metres at 24.5 g/t gold from 82 metres depth in hard rock, including two m at 60.5 g/t gold from 82 metres depth in fresh basement rock.

A second diamond drill hole, DDH322, was drilled 30 m to the southeast of RC421 and in a northwest direction parallel to what is now known to be the trend of the mineralized zone. As a result, it failed to intersect the mineralized zone in the primary basement material, but the hole did, however, cut eight m at 0.30 g/t gold in blanket sediments.

The second drill intercept in DDH331 is believed to be the same zone of high-grade mineralization intersected in RC421 and RC449, and suggests that the mineralized zone at Machichie NE trends northwest-southeast and extends for at least 200 m. The zone remains open at depth and along strike. The northwest (NW) trend of the mineralized zone at Machichie NE is the same orientation as the Central gold deposit and the Central-PDM trend.

Central RC drill results: Results have also been received from 17 RC drill holes, which form part of the continuing drill program aimed at upgrading significant inferred gold-in-oxide resources at the Central gold deposit to indicated resources. Most of these holes were drilled over the northern part of the Central gold deposit and, of the 17 holes reported here, 14 are outside the current pit shell that was used in the recent PFS (prefeasibility study) to mine the gold-in-oxide mineralization.

Significant results from holes drilled outside the current pit shell include 56 metres at 0.85 g/t gold in RC0475, 41 metres at 0.37 g/t gold in RC0476, 9 metres at 0.95 g/t gold in RC0462, 5 metres at 1.25 g/t and 12 metres at 0.54 g/t gold in RC0465, 8 metres at 0.57 g/t and 7 metres at 1.20 g/t gold in RC0474, and 24 metres at 0.34 g/t gold in RC0464.

The Central gold deposit includes a significant gold-in-oxide Inferred resource and these recent drill results suggest that a significant portion of these inferred resources could be converted to indicated resources during the coming months. These ultimately could be included in an updated mine plan for the gold-in-oxide material at Central. Drilling is continuing at Central with additional results expected in the near future.

Cabral Gold is a junior resource company engaged in the identification, exploration and development of mineral properties, with a primary focus on gold properties located in Brazil. The company has a 100% interest in the Cuiu Cuiu gold district located in the Tapajos region, within the state of Para in northern Brazil.

Two main gold deposits have so far been defined at the Cuiu Cuiu project, which contains NI 43-101-compliant indicated resources of 21.6 million tonnes at 0.87 g/t gold (604,000 oz) and inferred resources of 19.8 million tonnes at 0.84 g/t gold (534,500 oz).