Cabral Gold Discovers Western Extension to Primary MG Gold Deposit at Cuiú Cuiú Gold District, Brazil
Cabral Gold Discovers Western Extension to
Primary MG Gold Deposit at Cuiú Cuiú Gold
District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2021) -
Cabral Gold Inc. (TSXV: CBR)
(OTC Pink: CBGZF) ("Cabral" or the "Company")
is pleased to provide assay results from eight RC
holes and three diamond-drill holes at the primary MG gold deposit, and within the recently identified
gold-in-oxide blanket within the Cuiú Cuiú gold
district in northern Brazil.
Highlights are as follows:
RC237 drilled at MG returned 1
9.1m @ 2.2 g/t gold
from 85.0m depth including
7.0m @ 4.5 g/t
gold
. The hole ended in mineralization and appears to represent the western extension of the main
mineralized zone at the primary MG gold deposit
Initial results from the first of five diamond-drill holes completed for metallurgical testing also
returned higher than expected results from the central portion of the gold-in-oxide blanket. DDH
MET01 returned
30m @ 2.2 g/t gold
from surface including
8.2m @ 6.6 g/t gold
RC260, also drilled at the MG gold-in-oxide blanket, returned
8m @ 3.1 g/t gold
from 84.0m depth
including
2m @ 11.7 g/t gold, and 4m @ 2.3 g/t gold
from 111.0m depth including
1m @ 8g/t
gold
These results continue to
indicate the presence of a strongly mineralized zone containing
significantly higher grades within the core of the gold-in-oxide blanket. Results are pending on four
additional diamond drill holes that were completed for metallurgical testing
Alan Carter, Cabral's President and CEO commented, "The results that we are reporting today from
the recent diamond drilling at MG suggest that historic drilling in the western part of the primary MG
gold deposit failed to intercept the main mineralized zone. The new mineralized intercept in RC237 is
very significant and could add ounces in the western part of the primary MG gold deposit.
Furthermore, the results from the initial metallurgical test hole within the overlying MG gold-in-oxide
blanket, suggest that the higher grade portions of the blanket may be even higher grade than we
previously envisaged."
MG Diamond Drilling
Assay results were returned on three diamond-drill holes recently completed at the MG gold deposit
(MET01, DDH233A and DDH242). MET01 is one of five holes drilled to provide material from the gold-
in-oxide blanket for metallurgical test work (see press release dated November 9, 2021) (Figure 1).
Assay results from the remaining four MET holes are pending.
Figure 1: Map showing the outline of the primary MG gold deposit (in pale yellow) and the interpreted
outline of the overlying mineralized oxide blanket (in beige). The results from recently completed
diamond drill holes (MET01, DDH233A and DDH242) and RC drill holes (RC237, RC238, RC239,
RC260, RC261, RC263, RC264 and RC266) are also shown.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/106285_5508e10474cde88e_002full.jpg
Diamond-drill hole MET01 was drilled on section 553300 located in the central western portion of the
gold-in-oxide blanket at MG (Figure 1). It was sited approximately 20m south of RC66 which returned
15m @ 0.6 g/t gold,
and 20m north of RC65 which returned
51m @ 0.8 g/t gold
(Figure 2). MET01
was expected to return similar gold grades.
However, MET01 actually returned
30m @ 2.2 g/t gold
from surface including
8.2m @ 6.6 g/t gold
from
2.8m depth (Figure 2). These were significantly higher gold grades than anticipated based on previous
results from RC65 and RC66.
Figure 2: Cross-section (553300) through the primary MG gold deposit showing new drill results
from
diamond drill hole MET01 and other holes on section
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/106285_5508e10474cde88e_003full.jpg
MG RC Drilling
RC drill hole RC237 was drilled on section 552900 located in the western part of the MG gold deposit
(Figure 1). Only one hole had previously been drilled on this section. Historic diamond-drill hole CC49
was drilled from north to south and cut a narrow zone of gold mineralization which returned 5m @ 1.9 g/t
gold. More recent drilling at MG has confirmed that the primary basement MG gold deposit dips to the
north, implying that CC49 may have been drilled sub-parallel to the dip of the deposit, and potentially too
far to the north.
Two RC holes were drilled to test this possibility. RC191 returned 7m @ 0.5 g/t gold in the footwall, i.e.
south of the historic intercept of 5m @ 1.9 g/t gold returned in CC49 (Figure 3). RC191 ended in
mineralization and suggested the presence of a new mineralized zone. RC237 was drilled below RC191
to test this possibility and returned
19.1m @ 2.2 g/t gold
from 85.0m depth, including
7.0m @ 4.5 g/t
gold
(Figure 3). The hole ended in mineralization and the zone remains open. This intercept is now
interpreted to be the western extension of the main mineralized zone at the primary MG gold deposit,
and has significant implications for the continuation of the main mineralized zone further west.
Figure 3: Cross-section (552900) through the primary MG gold deposit showing drill results from
RC237. Note that hole ends in mineralization, and that historic hole CC49 was drilled down-dip in
hanging wall
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3900/106285_5508e10474cde88e_004full.jpg
Drill hole RC260 was drilled on section 554180 near the eastern limit of the primary MG deposit and well
beyond the eastern limit, as it is currently known, to the overlying gold-in-oxide blanket (Figure 1).
RC0260 was also located 60m west of historic diamond-drill hole CC100 which returned
5m @ 17.9 g/t
gold
. A single historic drill hole (CC111) on this section returned 3m @ 0.5 g/t gold and 7.2m @ 0.6 g/t
gold. Hole RC260 returned
8m @ 3.1 g/t gold
from 84.0m depth including
2m @ 11.7 g/t gold
from
89.0m depth, and
4m @ 2.3 g/t gold
from 111.0m depth including
1m @ 8g/t gold
from 113.0m depth
(Figure 4). These results indicate the extension of the high-grade gold mineralization intersected in
CC100 further to the east and nearer surface.
Figure 4: Cross-section (line 554180) through the primary MG gold deposit showing drill results from
RC260 which is located 60m west of CC100 which intersected 5m @ 17.9g/t gold
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/3900/106285_5508e10474cde88e_005full.jpg
Drill Hole
Weathering
Mineralized Zone
From
to
Width
Grade
#
m
m
m
g/t gold
Diamond Drill holes
MET01
Oxide/Saprolite
Blanket
0.0
30.0
30.0
2.2
incl.
2.8
11.0
8.2
6.6
Fresh Rock
56.6
60.5
3.9
0.5
73.0
81.6
8.6
0.4
EOH
90.8
DDH233A
Fresh Rock
74.1
75.1
1.0
0.4
83.4
85.9
2.5
0.2
102.7
104.8
2.1
1.7
EOH
121.6
DDH242
Oxide/Saprolite
Blanket
0.0
7.0
7.0
0.4
13.5
18.5
5.0
0.6
EOH
56.0
RC Drill holes
RC0237
Oxide/Saprolite
Blanket
0.0
3.0
3.0
0.2
35.0
39.0
4.0
0.1
42.0
44.0
2.0
0.1
Fresh Rock
52.0
61.0
9.0
0.3
85.0
104.0
19.0
2.2
incl
89.0
96.0
7.0
4.5
EOH
104.0
RC0238
Oxide/Saprolite
Blanket
0.0
10.0
10.0
0.1
EOH
60.0
RC0239
Oxide/Saprolite
Blanket
0.0
30.0
30.0
0.1
49.0
58.0
9.0
0.4
EOH
73.0
RC0260
Fresh Rock
84.0
92.0
8.0
3.1
incl.
89.0
91.0
2.0
11.7
111.0
115.0
4.0
2.3
incl.
113.0
114.0
1.0
8.0
EOH
120.0
RC0261
Oxide/Saprolite
Blanket
0.0
13.0
13.0
0.2
24.0
29.0
5.0
0.2
58.0
62.0
4.0
0.7
EOH
76.0
RC0263
Oxide/Saprolite
Blanket
19.0
23.0
4.0
0.8
70.0
73.0
3.0
0.6
EOH
112.0
RC0264
Oxide/Saprolite
Blanket
0.0
25.0
25.0
0.2
EOH
100.0
RC0266
Oxide/Saprolite
Blanket
10.0
12.0
2.0
1.1
EOH
100.0
Table 1: Table of drill results for diamond drill holes MET01, DDH233A and DDH242
and RC drill
holes RC237 to RC 239, RC260, RC261, RC263, RC264 and RC266
Drilling Update
Diamond drilling at MG is continuing with results pending on an additional nine diamond drill holes.
Diamond drilling is continuing at the primary Central gold deposit. The seventh hole is currently in
progress from a total program of 43 planned diamond-drill holes. These are designed to further define
the high-grade zones at Central. Previous diamond drilling at Central included
220.7m @ 2.0 g/t gold
including 9.8m @ 17.9 g/t gold.
RC drilling at Central is in progress with the objective of testing for the presence of gold-in-oxide blanket
mineralization above the primary Central gold deposit. Results are currently pending on seven holes.
Diamond drilling continues at the PDM target, located 2.5km NW of the Central gold deposit, and is
aimed at testing for the presence of a primary gold deposit in the basement intrusive rock underlying the
gold-in-oxide blanket. Results are currently pending on six diamond-drill holes.
Results are currently pending on five diamond-drill holes at the Alonso target which is located 3km SE of
the MG gold deposit. Twenty-three samples of boulder float material from Alonso previously returned
gold values of
11.6
to
200.3 g/t gold
(see press release dated February 11, 2020).
Geosedna has completed the 10,000m RC drilling contract and drilling with the large RC rig has been
suspended as a result of the onset of the rainy season. Drilling will continue with the four other drill rigs
currently on site.
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.
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