Cabral Gold Drills New Mineralized Vein at Indio and Continues to Expand Machichie Zone at the Cuiú Cuiú District, Brazil
Cabral Gold Drills New Mineralized Vein at
Indio and Continues to Expand Machichie
Zone at the Cuiú Cuiú District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2021) -
Cabral Gold Inc.
(TSXV: CBR)
(OTC Pink: CBGZF)
("Cabral" or the
"
Company
") is pleased to provide initial assay results from
reconnaissance RC drilling at the previously untested Indio target and assay results from follow-up RC
drilling at the Machichie target within the Cuiú Cuiú gold
district in northern Brazil.
Highlights are as follows;
Assay results from five initial reconnaissance RC holes at the previously untested Indio target
include
4m @ 2.5 g/t gold
including
1m @ 8.7 g/t gold
in hole 71.
Hole RC72 intersected
5m @
2.6 g/t gold
including
2m @ 5.7 g/t gold.
Initial drilling suggests the presence of a previously
unknown high-grade vein which will require further drilling
Additional RC drill assay results were returned from follow-up drilling at the Machichie target where
recent drilling returned
34m @ 5.4 g/t gold.
These include
8m @ 1.3 g/t gold
including
2m @ 4.0
g/t gold
from the eastern extension to the zone
and 5m @ 1.4 g/t gold including
1m @ 4.7 g/t
gold
in the western part of the Machichie zone. In addition, assay results are pending on several
holes from the Hamilton Novo and Maranhao West high-grade vein targets, located south of
Machichie
Reconnaissance RC drilling was recently completed at the JM target, and assay results are
pending. Drilling is now in progress at the JN target where surface channel sampling returned
5.3m
@ 24 g/t gold
Infill diamond drilling is also in progress following up high-grade portions of the MG gold deposit
and assay results are pending on several holes
Alan Carter, Cabral's President and CEO commented, "The initial results from the previously
untested Indio target are highly encouraging and suggest the presence of another high-grade
mineralized structure at Cuiú Cuiú with continuity of high-grade. Further drilling will be required at
Indio. At Machichie, additional follow-up drilling continues to expand the mineralized zone to the east
and west and confirms the presence of a mineralized system that is very similar to the MG gold
deposit located 500m to the south. We look forward to the results of recent and ongoing drilling at the
high-grade portions of the MG deposit as well as the JM, JN, Hamilton Novo and Maranhao West
targets".
Figure 1: Cuiú Cuiú location map showing the location of the MG and Central gold deposits, and the
Machichie, JM (Jerimum do Meio), Hamilton Novo, Maranhao W and Indio targets. Background to
map is 1VD RTP airborne magnetic data
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Reconnaissance Drilling
Reconnaissance drilling using Cabral's ASV ST-50 RC rig recommenced on 18
th
February 2021 on the
previously untested Indio target (Figure 1). The rig has subsequently moved to test targets at JM and JN
where mineralized veins are exposed at surface. At this stage, the company is completing several initial
holes at each target and, if warranted, will return to each of the targets at a later date once the assay
data is interpreted and compiled.
Indio Target
Six holes (RC54, RC55 and RC70 - RC73) were completed at the previously undrilled Indio target
(Figure 2), which is located approximately 1.5km SE of the MG gold deposit. Whilst there is no
outcropping vein on surface at Indio, grab samples of mineralized quartz vein float returned gold values
ranging from
1.5 to 137.8 g/t gold.
The holes were drilled in two areas 150m apart (Figure 2). Unfortunately, none of the six RC holes at
Indio reached the projected down-dip extension of the main mineralized target due to excessive water
during the rainy season, which limited RC drill penetration depths. Nevertheless, several of the holes did
encounter unexpected mineralized zones. Further drilling of this zone and the main target will be
conducted during the dry season which commences in April.
Three holes (RC70 - RC72) were drilled in the SE area. RC71 returned
4m @ 2.45 g/t gold
from 35m
depth including
1m @ 8.7 g/t gold.
Hole RC72 was drilled 40m SE of RC71 and intersected
5m @ 2.6
g/t gold
from
36m including 2m @ 5.7 g/t gold
(Figure 2).
Three holes (RC54, RC55 and RC73) were drilled in the NW area. RC54 returned
1m @ 1.8 g/t gold
.
Holes RC54 and RC73 returned only weak zones of mineralization.
Figure 2: Map of Indio target showing location of drill holes and surface samples
and interpreted
mineralized structures
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JM Target
Following the completion of the six reconnaissance holes at Indio, the rig moved to test the previously
untested JM target (Figure 1), located 2.5km NW of the MG gold deposit and where recent surface
channel sampling returned 0.9m @ 35.0 g/t gold and individual grab samples returned up to 700.2 g/t
gold.
Six holes (RC74-RC79) have been completed at JM and assay results are pending.
JN Target
The reconnaissance RC rig has moved again and is currently drilling the previously untested JN target
which is located 4km NW of the MG gold deposit (Figure 1) and upslope of reportedly the richest stream
mined for placer gold on the property. Surface sampling and mapping at JN during late 2020 identified
an outcropping vein trending NE. A channel sample taken at 90 degrees to the vein axis returned
5.3m
@ 24.0 g/t gold.
Six initial reconnaissance holes are planned at JN.
Follow-up Drilling
Follow-up drilling is being undertaken with a larger contracted Prospector W750 RC drill rig at the main
Machichie mineralized zone, as well as a number of new targets in the Machichie SW area.
Machichie Main Zone Drill Results
Results were returned on four additional step-out RC holes (RC47, RC48, RC49 and RC56) recently
drilled on the eastern extension of the main E-W trending Machichie zone, and were designed as follow
up holes to two initial step-out holes (RC40 and RC41) which recently returned highly encouraging results
of
34m @ 5.4 g/t gold and 20m @ 1.2 g/t gold
respectively.
The four new holes were drilled over approximately 200m strike length with the first step out hole (RC47)
returning
8m @ 1.3 g/t gold
from 43m depth including
2m @ 4.0 g/t gold
. The next hole (RC48)
returned only weak mineralization with a maximum of 2m @ 0.5 g/t gold from 51m and hole RC49 drilled
further to the east returned 2m @ 1.8 g/t gold (Figure 3). The final and most easterly hole (RC56) failed
to intersect any mineralization of interest.
Three additional RC holes (RC57, RC58 and RC60) were completed on the western part of the
Machichie structure (Figure 3). Results include
5m @ 1.4 g/t gold from 71m depth including
1m @
4.7 g/t gold
in hole RC60. Hole 58 intersected 1m @ 2.5 g/t gold from 87m depth. Hole RC57, the
western-most hole drilled to date at the Machichie target, intersected 1m @ 3.0 g/t gold from 132m
depth.
Figure 3: Airborne magnetic map (RTP 1VD) showing location of recent step-out drill holes at the
Machichie target and the location of follow-up drill holes at the Hamilton Novo, Maranhao West and
Machichie NE targets
To view an enhanced version of this graphic, please visit:
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The drill results returned from the mineralized zone at Machichie zone suggest the presence of high-
grade zones, or shoots, interspersed with zones of lower grade, which are very similar to the nearby MG
deposit located 500m to the south. The higher-grade zones may be controlled by intersecting NE-
trending structures and will require further drilling.
Machichie NE Drill Results
Results were returned on the final RC hole (RC46) at Machichie NE, which was drilled approximately
60m immediately north of RC-45 which intersected
28m @ 1.0 g/t gold
from surface including
8m @
3.3 g/t gold
from 10m depth. RC46 was designed to test for parallel structures immediately to the north
and failed to intersect any mineralization of interest.
The recent RC drill results from Machichie NE suggest the presence of another mineralized structure
which is sub-parallel to the main Machichie structure. The mineralized zone remains open to both the
east and the west and will require additional drilling to fully evaluate the extent of this new zone.
Hamilton Novo / Maranhao West
In addition, RC rig has completed three holes (RC61 - RC63) at the high-grade NE trending Hamilton
Novo vein structure (Figure 3), which are designed to establish the continuity of high-grade gold
mineralization intersected in a single previous hole which returned
3.0m @ 7.4 g/t gold
. Surface channel
samples in this part of the Hamilton Novo vein structure returned
5.8m @ 16.0 g/t gold
. Assay results
from the RC holes are pending.
The RC rig is currently testing another NE trending vein structure (Maranhao West), with hole RC64
located 75m SE of Hamilton Novo, where surface grab samples have returned gold values of
15.3 to
20.4 g/t gold.
(Figure 3).
Infill Diamond Drilling
Infill diamond drilling program is in progress at the MG gold deposit and is targeting extensions of
existing high-grade zones. Assay results are pending on six holes drilled to date.
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 garimpo 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
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.
The Indio
Program has been conducted with Cabral's ASV Scout ST-50, reverse-circulation drill rig equipped
with two compressors and a booster. Samples were collected in 1 m intervals, and split through a
Jones Riffle Splitter or cone and quartered if humid. The Machichie program executed by
GEOSEDNA - Perfurações Especiais S/A. using a Foremost Prospector W750 reverse-circulation
drill rig equipped with a compressor and booster, with samples split using a Metzke Riffle Splitter.
Sampling through alteration zones is conducted in 1m intervals.
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