Cabral Gold Adds Third Drill Rig to Current Drill Program at the Cuiú Cuiú District, Brazil
Cabral Gold Adds Third Drill Rig to Current
Drill Program at the Cuiú Cuiú District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - February 16, 2021) -
Cabral Gold Inc. (
TSXV: CBR)
(OTC: CBGZF)
(
"Cabral" or the
"
Company
") is pleased to advise that it has added a third drill rig to
the current drill program at the Cuiú Cuiú gold district in northern Brazil, and drilling is in progress.
Highlights are as follows;
Cabral has added a third drill rig to the current program at the Cuiú Cuiú gold district. Energold
Perfuracoes Ltda have been contracted to drill a minimum of 5,000m of diamond drilling as part of
the current program, and the rig is on site and drilling has commenced
The diamond drill rig will initially focus on drilling off the high-grade zones at both the MG and
Central gold deposits where previous drilling has returned over 70 drill intercepts in excess of 10
g/t gold
There are strong indications from previous drilling at both the MG and Central gold deposits, and
now at the new Machichie zone, that high-grade mineralization is continuous along strike and
down-dip in several parts of the deposit. The addition of this drill rig is designed to further define
the size and grade of these high-grade zones
Alan Carter, Cabral's President and CEO commented, "The arrival of a third rig at Cuiú Cuiú further
expands the current drill program and allows us to address the third aspect of the high-grade potential
of the project, namely the high-grade potential of the existing MG and Central deposits. Establishing
high-grade resources at Cuiú Cuiú is a key objective for our team in the short to medium term
.
With
follow-up drilling already in progress at Machichie, and reconnaissance drilling of several additional
high-grade targets expected to recommence in a few days, the next few weeks and months promises
to be a very exciting time in terms of drill results for Cabral Gold and its shareholders."
Diamond Drill Program
The initial 5,000m diamond-drill program is designed to follow-up significant high-grade mineralization
identified by previous drill programs at the MG and Central deposits, and now the Machichie target,
where infill drilling is required to better define the limits of the high-grade zones.
Whilst the MG and Central deposits contain over 70 drill intercepts in excess of 10 g/t gold, the current
drill density is insufficient to enable the construction of specific restricted high-grade wireframe domains.
As a result, the last NI 43-101 resource estimate was significantly and adversely impacted by the top-
cutting of these high-grade intercepts (see news release dated June 7, 2018). The most extreme
example involved an isolated very high-grade intercept within the MG deposit, where diamond drill hole
CC_104_10 returned 70.2 g/t gold over 2.0m, which was reduced to 2.0 g/t gold when top cutting was
applied. It is expected that the additional diamond drilling that is now in progress will allow better
definition of these high-grade zones and lead to the construction of specific wireframe domains, which
should allow the inclusion of the high-grade zones in a future update of the NI 43-101 resource estimate.
Oriented core will be used to help define the orientation, continuity and size of high-grade domains within
the broader lower-grade historic resource areas, as well as in the new mineralized zones.
Core will also provide the required structural, technical and geological data to develop tighter wireframe
models for future resource estimates, as well as providing material for density measurements and
metallurgical sampling.
Follow-up RC Drill Program
The Prospector W750 RC drill rig has now completed the fourth additional step-out hole on the eastern
side of the Machichie deposit and is currently drilling 50m west of the most westerly hole drilled at
Machichie to date.
Reconnaissance RC Drill Program
The reconnaissance drilling program, which was testing the Indio target and was temporarily suspended
due to an outbreak of COVID-19 in late January, is expected to recommence on or before 19
th
February.
All employees have either returned to site or are expected back on site by 18
th
February, and drilling will
recommence at the Indio target, which is located approximately 1.5km SE of the MG gold deposit.
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 @ 0.90g/t (200,000 oz) and Inferred resources of 19.5Mt @ 1.24g/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 placer gold
camp in the Tapajós and produced an estimate 2Moz of placer gold historically.
FOR FURTHER INFORMATION PLEASE CONTACT:
"Alan Carter"
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
Dr Adrian McArthur, B.Sc. Hons, PhD. FAusIMM., 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 assays have been determined by SGS method FAA505 (fire assay; 50 charge). Analytical
quality is monitored by certified references and blanks. Until dispatch, samples are stored in the
Company's supervised exploration office. The samples are couriered to the assay laboratory using a
commercial contractor. Pulps and rejects are returned to the Company and archived.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/74470