Cabral Commences Additional Metallurgical Tests on Near-Surface Gold-in-Oxide Material from Cuiú Cuiú Gold Project, Brazil
Cabral Commences Additional Metallurgical
Tests on Near-Surface Gold-in-Oxide Material
from Cuiú Cuiú Gold Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2023) -
Cabral Gold Inc.
(TSXV: CBR) (OTC
PINK: CBGZF)
("Cabral" or the
"
Company
") is pleased to announce that its Brazilian subsidiary has
engaged Testwork do Brasil ("Testwork") to commence metallurgical tests on near-surface gold-in-oxide
saprolitic material from the Cuiú Cuiú project in northern Brazil.
Additional samples of near-surface oxide blanket and saprolite mineralization from the MG and Central
gold deposits have been shipped to Testwork for further heap-leach testing, as well as engineering tests.
These tests follow a successful column-leach test completed using a composite oxide sample from MG
in 2022 which had 82% gold recoveries after 70 days (see news release dated June 21, 2022). The
follow-up leach and engineering tests on oxide mineralization are being conducted in parallel with an
ongoing trial-mining Prefeasibility Study which is examining the potential exploitation of near-surface
oxide mineralization being conducted by Ausenco do Brasil Engenharia Ltda. (see news release dated
April 5, 2023).
Alan Carter, Cabral's President and CEO commented, "We already know from previous metallurgical
test work that the gold-in-oxide material is very amenable to heap-leach processing. Material from the
MG deposit returned 82% gold recoveries after 70 days. The tests we announced today are designed
to provide initial information regarding the gold-in-oxide heap leach recoveries from the Central gold
deposit and further assessing the metallurgical recoveries of higher-grade gold-in-oxide material
which grades 2 g/t gold from both the Central and MG deposits. This work is critical to further refining
the design of the gold-recovery circuit which will form part of the Prefeasibility Study."
Previous column-leach test work conducted by Kappes Cassidy & Associates in Reno, Nevada on a
composite sample of oxide material from the MG gold deposit at Cuiú Cuiú, returned gold recoveries of
82% after 70 days. Recoveries after 15 days were 70% and recoveries after 30 days were 78% (see
press release dated June 21, 2022). Recalculated gold grades following the column test were
significantly higher than those determined by numerous assays from the bulk composite prior to the test.
In addition to the metallurgical tests that have commenced on the oxide gold mineralization, further
metallurgical results are also pending on the underlying hard rock mineralized material and are expected
to be available in the coming weeks.
Board Changes
The Company also announces that Derrick Weyrauch and Rod Cooper have elected to resign from the
Board of Directors in order to focus on other business interests. The Management and Board would like
to thank Mr. Weyrauch and Mr. Cooper for their service to the Company, and wish them both well in their
future business endeavors. Replacement Board members will be announced shortly.
About Cabral Gold Inc.
The Company 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 Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in
northern Brazil. Two main gold deposits have so far been defined at the Cuiú Cuiú project which contains
National Instrument 43-101 compliant Indicated resources of 21.6Mt @ 0.87 g/t gold (604,000 oz) and
Inferred resources of 19.8Mt @ 0.84 g/t gold (534,500 oz).
The Tapajós Gold Province is the site of the largest gold rush in Brazil's history producing an estimated
30 to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer
workings in the Tapajós and produced an estimated 2Moz of placer gold historically.
FOR FURTHER INFORMATION PLEASE CONTACT:
"Alan Carter"
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
Guillermo Hughes, MAusIMM and FAIG., a consultant to the Company as well as a Qualified Person
as defined by National Instrument 43-101, supervised the preparation of the technical information in
this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within
the meaning of applicable securities legislation (collectively "forward-looking statements").
The use of
the words "will", "expected" and similar expressions are intended to identify forward-looking
statements.
These statements involve known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those anticipated in such forward-looking
statements.
Such forward-looking statements should not be unduly relied upon.
This news release
contains forward-looking statements and assumptions.
The Company believes the expectations
reflected in those forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/171095