Cabral Gold Doubles Area of PDM Gold-in- Oxide Blanket and Provides Drilling Update at the Cuiú Cuiú District, Brazil
Cabral Gold Doubles Area of PDM Gold-in-
Oxide Blanket and Provides Drilling Update at
the Cuiú Cuiú District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - August 26, 2021) -
Cabral Gold Inc. (TSXV: CBR)
(OTC Pink: CBGZF) ("Cabral" or the "Company")
is pleased to provide assay results from ten
additional reconnaissance RC holes at the Pau de Merenda ("PDM") target, and to provide a drilling
update at the Cuiú Cuiú gold
district in northern Brazil.
Highlights are as follows:
Results from an additional ten reconnaissance RC drill holes at the Pau de Merenda target,
located 2.5km NW of the Central gold deposit, have expanded the recently identified gold-in-oxide
blanket to 800 x 300m in size. The blanket remains open in three of four directions
Assay results are pending on six follow-up RC holes completed within the Machichie SW vein array
where a series of NE-trending vein structures have been mapped and previously returned high-
grade drill results including
3.4m @ 36.9 g/t gold
and
3m @ 13.2 g/t gold
At the MG gold deposit, assay results are currently pending from 8 diamond drill holes and 38 RC
drill holes. Assay results are also pending on a number of holes at the Mira Boa target
Alan Carter, Cabral's President and CEO commented, "The additional drill results received from the
PDM target suggest the presence of a much larger gold-in-oxide blanket than we previously
envisaged, and it is still open in several directions. The surface extent of this blanket now exceeds the
size of the nearby gold-in-oxide blanket which overlies the nearby primary gold deposit at MG, and
obviously begs the question as to where all of the gold in the blanket is being eroded from. Further
drilling to define the limits of this blanket is currently in progress, and diamond drilling is planned in
order to test for the presence of a primary gold deposit beneath the gold-in-oxide blanket."
PDM Reconnaissance RC Drilling
The PDM target is located approximately 2.5km NW of the Central gold deposit at Cuiú Cuiú (Figure 1)
and comprises a significant gold-in-soil anomaly. Limited historic diamond drilling (nine holes totaling
2,593m) at this target previously returned encouraging drill results within the underlying bedrock including
30m @ 1.1 g/t gold
in CC-19,
47.1m @ 1.8 g/t gold
in CC-20 and
8.5m @ 5.1 g/t gold
in CC-22.
Figure 1: Map showing the location of the PDM target, the two known gold deposits
at Central and MG
and other key targets within the Cuiú Cuiú district
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/94499_589e74055412db45_002full.jpg
A total of 21 initial reconnaissance RC holes have now been completed at PDM to test for the presence
of a gold-in-oxide blanket akin to the recently identified gold-in-oxide blanket above the primary MG gold
deposit.
Assay results from the initial 11 holes, which were drilled vertically at 100m spacings, were encouraging
and included
40m @ 2.2 g/t gold
from surface, which ended in weathered material averaging 9.4 g/t
gold over 7m (see press release dated August 10, 2021). These results from the initial eleven holes
indicated the presence of a blanket up to 40m in thickness with minimum dimensions of 400 x 200m,
and open in all directions.
The assay results from the most recent ten additional holes have extended the gold-in-oxide blanket to
both the east and south-east outlining an area of approximately 800m (NW-SE) x 300m (Figure 2).
Results include
10m @ 0.5 g/t gold from 1m depth and 11m @ 0.6 g/t gold from 21m
depth from
hole RC-115 (Table 1). The blanket remains open in three of four directions, west, east and north.
Additional follow-up drilling (ten RC holes) is in progress aimed at outlining the surface extent of the gold-
in-oxide blanket at PDM. Diamond drilling is also planned to test the possibility of an underlying hard-
rock primary source.
Figure 2: Map showing the PDM target with previously reported and recently completed vertical
RC
drill holes (labelled in yellow) and the current estimated limits of the gold-in-oxide blanket
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/94499_589e74055412db45_003full.jpg
Drill
Hole
Weathering
Mineralized
Zone
From
to
Width
Grade
#
m
m
m
g/t gold
RC114
Oxide/Saprolite
Blanket
0
16.0
16.0
0.3
EOH
25.0
RC115
Oxide/Saprolite
Blanket
1.0
11.0
10.0
0.5
21.0
32.0
11.0
0.6
36.0
43.0
7.0
0.1
EOH
49.0
RC116
Oxide/Saprolite
Blanket
14.0
21.0
7.0
0.6
EOH
35.0
RC117
Oxide/Saprolite
0.0
0.0
0.0
NSV
EOH
38.0
RC118
Oxide/Saprolite
0.0
0.0
0.0
NSV
EOH
42.0
RC119
Oxide/Saprolite
0.0
0.0
0.0
NSV
EOH
51.0
RC120
Oxide/Saprolite
Blanket
5.0
9.0
4.0
0.4
EOH
60.0
RC121
Oxide/Saprolite
Blanket
1.0
13.0
12.0
0.4
47.0
57.0
10.0
0.4
EOH
57.0
RC122
Oxide/Saprolite
Blanket
3.0
9.0
6.0
0.1
16.0
22.0
6.0
0.2
65.0
69.0
4.0
1.5
EOH
69.0
RC123
Oxide/Saprolite
Blanket
0.0
8.0
8.0
0.2
EOH
47.0
Table 1: Table of drill results for reconnaissance RC drill holes at PDM RC-114 to RC-123
Drilling Update
MG Drilling
Diamond drilling aimed at defining the high-grade zones within the MG gold deposit is continuing with
assay results pending on eight diamond-drill holes.
In addition, RC drilling of the recently identified gold-in-oxide blanket which overlies the primary MG gold
deposit is also in progress and assay results are pending on 38 RC holes. This brings the total number
of RC holes completed to date at MG to 52 from a planned total of 74 holes, with 22 still left to drill.
Machichie SW Follow-up RC Drilling
Six additional follow-up RC holes were recently completed in the Machichie SW vein array where six NE-
trending high-grade veins have been identified 300m north of the MG gold deposit. Limited previous
drilling from this area has returned high-grade drill results including
3.4m @ 36.9 g/t gold
and
3m @
13.2 g/t gold.
Assay results are pending for all six holes.
Mira Boa Reconnaissance RC Drilling
A total of 33 short RC holes have now been completed at the Mira Boa target which is located 3km
south-west of the Central gold deposit and is the site of extensive historic placer gold workings. The
source of this gold is currently unexplained. Soil sampling has identified an extensive gold-in-soil
anomaly extending over at least 2km N-S which has never been previously tested by drilling, and may
represent a concealed gold-in-oxide blanket.
Assay results are pending for all 33 holes.
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/94499