Cabral Gold Continues to Expand the Gold-in- Oxide Blanket at the MG Target, Cuiú Cuiú District, Brazil
Cabral Gold Continues to Expand the Gold-in-
Oxide Blanket at the MG Target, Cuiú Cuiú
District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2021) -
Cabral Gold Inc. (TSXV: CBR)
(OTC Pink: CBGZF) ("Cabral" or the "Company")
is pleased to provide assay results from an
additional 17 RC holes at the MG gold-in-oxide blanket at the Cuiú Cuiú gold
district in northern Brazil.
Highlights are as follows:
Results have been received from 17 additional RC drill holes which were designed to test the
extent and continuity of the MG gold-in-oxide blanket which overlies the primary MG gold deposit.
Based on these results, the surface area of the blanket has been expanded by at least 20%, to a
total of 24 hectares
Significant results on several sections through the blanket include
66m @ 0.7 g/t gold, 24m @ 0.8
g/t gold, 23m @ 0.6 g/t gold,
and
12m @ 0.8 g/t gold.
The most easterly hole drilled to date
(RC160) returned
23m @ 0.6 g/t gold
and the gold-in-oxide blanket mineralization remains open
in almost every direction
RC161 also returned
17m @ 1.0 g/t gold
including
1m @ 7.5 g/t gold
in the underlying primary
MG gold deposit. As a result of these encouraging results the drill program at the MG gold-in-oxide
blanket has been expanded from the initial 74-hole program to a total of 86 planned holes of which
eight will be diamond drill holes
Alan Carter, Cabral's President and CEO commented, "Our RC drilling program at the MG gold-in-
oxide blanket continues to surprise us by delivering results which suggest the gold-in-oxide blanket in
unconsolidated material above the MG gold deposit at
Cuiú Cuiú, is larger than we previously
anticipated. The recent drilling has expanded the surface footprint of the gold mineralization in this
blanket by 20% to 24 hectares and it is still open in almost every direction. These results continue to
suggest the presence of a significant deposit in unconsolidated material which has resulted from the
partial erosion of the underlying hard-rock MG gold deposit. With five drill rigs currently turning on site
and an aggressive 30,000 meter drill program planned at
Cuiú Cuiú for the coming months, we look
forward to additional drill results from both the MG and Central gold deposits and a number of the
other 43 mainly high-grade targets that occur outside the two known gold deposits."
MG Gold-in-Oxide Blanket RC Drilling
Following the discovery of an extensive gold-in-oxide blanket in near surface unconsolidated material
directly above the MG gold deposit in April of this year (see press release dated April 15, 2021 and
Figure 1), Cabral has moved swiftly to define the limits to the gold-in-oxide mineralization.
Figure 1: Map showing the location of the MG deposit and overlying MG gold-in-oxide target, as well
as the
Central gold deposit, the Pau de Merenda (PDM) gold-in-oxide blanket
and other key targets
within the Cuiú Cuiú district
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/99662_5437978364952b9a_002full.jpg
Initially, a 74-hole RC program was planned to define this blanket but the program has now been
expanded to a total of 86 holes including eight diamond drill holes. This is the result of recent
encouraging drill results which suggest that the initial blanket is significantly more extensive than
previously envisaged. Results have been reported so far on a total of 32 RC holes including 17 holes
which are reported here.
Assay results have been returned on holes RC137 to RC139, RC150 to RC161 and RC195 and RC196
all of which were drilled in the central and eastern parts of the gold-in-oxide blanket (Figure 2). These
holes returned intervals of gold-in oxide mineralization within the overlying unconsolidated soils and
sediments.
Figure 2: Map showing the outline on surface of the MG gold-in-oxide blanket and recent RC drill hole
results
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/99662_5437978364952b9a_003full.jpg
The most significant intercepts from these holes are as follows:
On section 553745 (Figure 3), RC157 returned
66m @ 0.7 g/t gold
from 1m depth including
6m @ 2.5
g/t gold
from 51m depth. This result represents the second-best drill intercept returned to date within the
blanket, and is close to the eastern limit of the blanket as it is currently known.
Approximately 55m further east, on section 553800, hole RC160 returned
23m @ 0.6 g/t gold
from
surface.
This represents the most easterly hole drilled in the blanket to date and suggests that the
blanket extends further east than previously anticipated whilst maintaining good grade and thickness.
In addition, RC161, also drilled on the same section as RC160, returned
24m @ 0.8 g/t gold
from 57m
depth including
3m @ 3.2 g/t gold
in oxidized material and a further
17m @ 1.0 g/t gold
from 81m
depth including
1m @ 7.5 g/t gold
in fresh rock (Figure 4).
Other significant intercepts include RC154 which is the most southerly hole on section 553700 and
returned
23m @ 0.4 g/t gold
from surface including
2m @ 1.8 g/t gold
. Approximately 90m to the west
on section 553610, RC151 which is the most southerly hole on that section, similarly returned
15m @
0.3 g/t gold
from surface, also in oxide material. Both of these holes indicate that the blanket extends
further to the south than previously anticipated.
Results are currently pending on 42 additional RC holes.
Figure 3: Cross section (section 553745) through the MG deposit and overlying MG gold-in-oxide
target,
showing assay results from RC156, RC157 and RC158
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3900/99662_5437978364952b9a_004full.jpg
Figure 4: Cross section (section 553800) through the MG deposit and overlying MG gold-in-oxide
target,
showing assay results from RC159, RC160 and RC161
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/3900/99662_5437978364952b9a_005full.jpg
Drill Hole
Weathering
Mineralized Zone
From
to
Width
Grade
#
m
m
m
g/t gold
RC137
Oxide/Saprolite
Blanket
0.0
5.0
5.0
0.2
EOH
52.0
RC138
Oxide/Saprolite
Blanket
0.0
35.0
35.0
0.3
61.0
73.0
12.0
0.8
incl.
61.0
62.0
1.0
5.7
EOH
90.0
RC139
Oxide/Saprolite
Blanket
0.0
23.0
23.0
0.3
EOH
97.0
RC150
Oxide/Saprolite
Blanket
0
24.0
24.0
0.2
EOH
64
RC151
Oxide/Saprolite
Blanket
0.0
15.0
15.0
0.3
31.0
32.0
1.0
1.4
EOH
60.0
RC152
Oxide/Saprolite
Blanket
4.0
7.0
3.0
0.3
EOH
75.0
RC153
Oxide/Saprolite
Blanket
0.0
28.0
28.0
0.3
94.0
96.0
2.0
0.4
113.0
114.0
1.0
0.4
EOH
118.0
RC154
Oxide/Saprolite
Blanket
0.0
23.0
23.0
0.4
incl.
11.0
13.0
2.0
1.8
EOH
94.0
RC155
Oxide/Saprolite
Blanket
0.0
19.0
19.0
0.2
84.0
85.0
1.0
0.9
EOH
88.0
RC156
Oxide/Saprolite
Blanket
0.0
20.0
20.0
0.3
76.0
78.0
2.0
0.5
EOH
90.0
RC157
Oxide/Saprolite
Blanket
1.0
67.0
66.0
0.7
incl.
51.0
57.0
6.0
2.5
EOH
60.0
RC158
Oxide/Saprolite
Blanket
1.0
6.0
5.0
0.1
EOH
58.0
RC159
Oxide/Saprolite
Blanket
0.0
36.0
36.0
0.2
EOH
80.0
RC160
Oxide/Saprolite
Blanket
0.0
23.0
23.0
0.6
EOH
70.0
RC161
Oxide/Saprolite
Blanket
0.0
13.0
13.0
0.1
17.0
30.0
13.0
0.2
57.0
81.0
24.0
0.8
incl.
67.0
70.0
3.0
3.2
Fresh Rock
81.0
98.0
17.0
1.0
incl.
91.0
92.0
1.0
7.5
EOH
100.0
RC195
Oxide/Saprolite
Blanket
0.0
19.0
19.0
0.4
EOH
60.0
RC196
Oxide/Saprolite
Blanket
0.0
2.0
2.0
0.1
8.0
39.0
31.0
0.3
Fresh Rock
39.0
70.0
31.0
0.2
75.0
80.0
5.0
0.2
EOH
80.0
Table 1: Table of drill assay results for reconnaissance RC drill holes at the MG gold-in-oxide
target,
RC137 to RC139, RC150 to RC161 and RC195 and RC196
Drilling Update
MG Diamond Drilling
Diamond drilling designed to define the high-grade zones within the primary basement MG gold deposit
continues. Assay results are pending on five holes.
Pau de Merenda RC and Diamond Drilling
Results are pending on ten RC holes drilled to define the limits of the gold-in-oxide blanket at Pau de
Merenda (PDM) where recent drilling returned
40m @ 2.2 g/t gold
(see press releases dated August
10 and August 26, 2021).
Results to date indicate the presence of a near surface blanket at least 300 x
800m in lateral size.
Results are also pending on three diamond-drill holes from a planned six holes at Pau de Merenda which
are designed to test for the presence of a primary gold deposit in the basement intrusive rock underlying
the gold-in-oxide blanket. Several historic drill holes suggest the presence of an underlying mineralized
zone in the intrusive rocks with historic holes returning values of
30m @ 1.1 g/t gold, 47m @ 1.8 g/t
gold
and
9m @ 5.1 g/t gold.
Alonso Reconnaissance Diamond Drilling
Results are currently pending on five diamond drill holes and drilling is also in progress at the Alonso
target which is located 3km SE of the MG gold deposit. Twenty-three samples of this boulder float
material previously returned gold values of
11.6
to
200.3 g/t gold
(see press release dated February 11,
2020).
Upcoming Conferences
Dr. Alan Carter will be attending the Swiss Mining Institute Conference taking place from the 2
nd
to the
4
th
of November, 2021. The invitation only virtual conference presents selected mining companies to
over 400 selected Asset Managers, Fund Managers and other professional investors from all over the
world.
Alan Carter will also be hosting private meetings at the 121 Mining Investment Conference in London in
person on the 17
th
and 18
th
of November. Over 500 qualified investors from across Europe will be
attending the event.
We will also be connecting with European investors at the Mines and Money Conference, one of
Europe's largest mining investment and capital raising events. The event is taking place in London on
the 1
st
and 2
nd
of December.
Please contact us if you are interested in a meeting.
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 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/99662