Cabral Gold samples 24 g/t gold over 5.3 metres at Cuiu Cuiu, Brazil; shares up
Cabral Gold Inc. [CBR-TSXV; CBGZF-OTC] reported results of channel sampling at the Jerimum North target at the Cuiu Cuiu gold district in northern Brazil. Highlights are as follows:
A surface channel sample recently completed at the Jerimum North target returned 5.3 metres grading 24.0 g/t gold. Jerimum North is located 4 km northeast of the MG deposit and 3.7 km north-east of the recently discovered high-grade veins at the Machichie SW target area.
Mineralization is confined to a NE-trending quartz-pyrite vein system that has never been drill tested. Surface grab samples with values of 966.2 g/t, 331.7 g/t and 55.4 g/t gold occur 130 metres to the NE, and may be related to the same structure
A pronounced NE trend is evident within the regional magnetic data supporting the possibility of another major NE trending vein system which may also explain why this part of the Cuiu Cuiu district was the richest area in terms of historical placer gold production
Alan Carter, Cabral’s CEO, commented, “The identification of yet another new NE-trending, high-grade vein structure, this time at the Jerimum North target, highlights the increasing importance of NE trending veins as hosts to high-grade gold mineralization within the Cuiu Cuiu gold district. This new vein has never been drill-tested, and like the recently announced NE trending veins at Machichie SW, will undergo further surface exploration aimed at establishing along strike continuity prior to drilling. The Jerimum North area was reportedly the richest part of the Cuiu Cuiu district in terms of historic placer gold production during the Tapajos gold rush, and we may have just taken a significant step forward in determining why this area was so rich historically.”
Cabral Gold has a 100% interest in the Cuiu Cuiu gold district located in the Tapajos Region, within the state of Para, northern Brazil.
In September 30 trading, shares of Cabral Gold were up $0.06, or 9.1%, to $0.72 on a volume of 790,500 shares traded.