Cabral Gold Adds Fifth Drill Rig at the Cuiú Cuiú Gold District
Cabral Gold Adds Fifth Drill Rig at the Cuiú
Cuiú Gold District
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2022) -
Cabral Gold Inc.
(TSXV: CBR) (OTC
PINK: CBGZF)
("Cabral" or the
"
Company
") is pleased to announce that it has added a fifth drill rig
on site at the Cuiú Cuiú gold
district in northern Brazil.
Highlights are as follows:
The new diamond drill rig will initially commence drilling at the Indio target located approximately
1.5km SE of the MG gold deposit. Grab samples of mineralized quartz vein float from surface at
Indio returned gold values ranging from
1.5 to 137.8 g/t gold
Six reconnaissance RC drill holes completed in early 2021 at Indio failed to test the primary target
due to waterlogged ground but nonetheless cut a number of interesting mineralized structures
including
4m @ 2.5 g/t gold
including
1m @ 8.7 g/t gold
and
5m @ 2.6 g/t gold including 2m
@ 5.7 g/t gold
Following the completion of drilling at Indio the rig will move to test the Dona Moca, Cilmar and
Tracaja targets
Alan Carter, Cabral's President and CEO commented, "During the last 12 months we have identified
three new zones of near-surface gold-in-oxide mineralization at MG, PDM and Central as well as a
deeper zone of hard rock gold mineralization at PDM. This unprecedented success has meant that for
the last few months the four drills that we currently have on site have been focused on drilling off these
new discoveries as well as expanding the two known gold deposits. The arrival of a fifth drill rig gives
us the ability to drill test more of the regional targets at Cuiú Cuiú as we seek to discover additional
gold deposits within this prolific district".
Reconnaissance Drilling Program
A first phase diamond drill program is planned for the Indio Target at Cuiú Cuiú. Six reconnaissance RC
drill holes completed in early 2021 at Indio failed to test the primary target due to waterlogged ground but
nonetheless cut a number of interesting mineralized structures including
4m @ 2.5 g/t gold
including
1m
@ 8.7 g/t gold
and
5m @ 2.6 g/t gold including 2m @ 5.7 g/t gold.
The RC drilling during 2021 at Indio was hampered by excessive water flows, and the arrival of the
diamond drill should allow for more thorough testing of the mineralized float material sampled on surface
which returned gold values ranging from
1.5 to 137.8 g/t gold,
as well as the mineralized drill intercepts
returned from the initial RC drilling.
Following the completion of drilling at the Indio target, the rig will move east to test the untested Dona
Moca target which is located 7km ESE of the MG gold deposit. Surface samples of quartz vein float at
Dona Moca returned gold values up to
108.3 g/t gold
and extensive historic placer gold workings
characterize the area.
Drilling is also planned at the Cilmar and Tracaja targets. Cilmar has never had any previous drilling and
is a target where numerous coarse gold nuggets have been recovered from streams. The source of
these nuggets is currently unexplained.
Drilling and Trenching Update
Results are currently pending on six diamond-drill holes at MG and drilling is continuing.
Results are also currently pending on six diamond-drill holes at Central and drilling is continuing.
In addition to the extensive diamond-drilling program that is in progress at Central, RC drilling aimed at
further defining the extent of the gold-in-oxide blanket material is also in progress. Results are currently
pending on 23 RC drill holes at Central.
Diamond-drilling continues at the recently discovered mineralized zone in basement granitic rocks at the
PDM target located 2.5km NW of Central (see press release dated January 12, 2022). Results on seven
diamond drill holes are currently pending.
Additional trenching is also in progress at the Machichie target where recent surface trenching 285m
west of the most westerly drill hole returned
5m @ 8.3 g/t gold
(see press release dated February 2,
2022). Results are pending.
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 gold deposits have so far been defined at Cuiú Cuiú and contain 43-101 compliant
Indicated resources of 5.9Mt @ 0.90 g/t (200,000 oz) and Inferred resources of 19.5Mt @ 1.24 g/t
(800,000 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 pertaining to the following:
strategic plans and
future operations, and results of exploration. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
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.
Notes
Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher
grade samples checked by FAA525. Analytical quality is monitored by certified references and
blanks. Until dispatch, samples are stored under the supervision the Company's exploration office.
The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned
to the Company and archived. Drill holes results are quoted as down-hole length weighted
intersections.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/115542