Cabral Gold Expands PDM Gold-in-Oxide Blanket and Narrows Search for Underlying Primary Source at the Cuiú Cuiú Gold District Brazil
Cabral Gold Expands PDM Gold-in-Oxide
Blanket and Narrows Search for Underlying
Primary Source at the Cuiú Cuiú Gold District
Brazil
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2021) -
Cabral Gold Inc.
(TSXV: CBR)
(OTC Pink: CBGZF)
("Cabral" or the
"
Company
") is pleased to provide assay results from ten
additional RC holes at the Pau de Merenda ("PDM") gold-in-oxide blanket target located 2.5km NW of
the Central gold deposit at the Cuiú Cuiú gold district.
Highlights are as follows:
Results from an additional ten RC drill holes at the PDM target have further expanded the recently
identified gold-in-oxide blanket to 900 x 350m in size from the initial 200 x 400m. The blanket
remains open to the north and west
Assay results include
13m @ 0.9 g/t gold
from surface and
10m @ 0.6 g/t gold
including
1m @
6.2 g/t gold.
Previous results in the gold-in-oxide blanket at PDM include
40m @ 2.2 g/t gold
The RC drilling in the blanket at PDM continues to define a NW trending zone of higher grade gold
mineralization in the surface gold-in-oxide material. This zone is now
500m in strike length
and
still open along strike and may indicate the presence of an underlying primary zone of gold
mineralization in the hard rock which eroded to form the PDM gold-in-oxide blanket
Alan Carter, Cabral's President and CEO commented, "These additional RC drill results have again
expanded the gold-in-oxide blanket at the PDM target at
Cuiú Cuiú, and the mineralized zone is still
open to the north and west. Perhaps more significantly, these drill results further confirm the presence
of a NW-trending zone of higher-grade gold-in-oxide mineralization which may represent an
underlying primary gold deposit at PDM. If so, this could represent a significant extension to the
Central gold deposit which is located 2.5km along strike to the south-east. Deeper diamond drilling is
currently in progress aimed at testing for the presence of an underlying primary gold deposit."
PDM 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 (Pau de Merenda) target, the two known gold deposits
at Central and MG, the overlying gold-in-oxide blankets at PDM and MG (in beige) and other key
targets within this area of the Cuiú Cuiú district
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/101131_1eee143d44ea79e7_002full.jpg
A total of 31 RC holes have now been completed at the PDM target and have confirmed 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 21 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
7m @ 9.4
g/t gold
,
10m @ 0.5 g/t gold
and
11m @ 0.6 g/t gold
(see press release dated August 10, 2021)
.
The assay results from the ten additional recent holes (Table 1) include 1
3m @ 0.9 g/t gold from
surface
in RC220
and
10m @ 0.6 g/t gold
in RC226 including
1m @ 6.2 g/t gold.
These results have
further extended the surface dimensions of the gold-in-oxide blanket to the north and west, outlining an
area of approximately 900m (NW-SE) x 350m (Figure 2). The blanket remains open to the north and
west.
Perhaps more importantly, the RC drilling is continuing to define a NW trending zone of higher-grade
gold mineralization within the overlying gold-in-oxide material (Figure 2), which now extends
approximately 500m in a NW-SE direction and may indicate the location of the underlying primary
mineralized structure which has eroded to form the gold-in-oxide blanket at PDM. This zone of higher-
grade mineralization is defined from north to south by holes RC220
(13m @ 0.9 g/t gold)
, RC106
(10m
@ 0.9 g/t gold)
, RC222
(9.1m @ 0.9 g/t gold)
, RC104
(16m @ 1.3 g/t gold)
and RC112
(40m @ 2.2
g/t gold)
. The blanket remains open to the north and south (Figure 2). The most north-westerly hole,
RC220, returned
13m @ 0.9 g/t gold
and is located on the southern edge of extensive historic placer
gold workings.
A follow-up diamond drilling program, which is currently in progress, is aimed at testing for the presence
of an underlying primary gold deposit at PDM.
It is worth noting that the PDM area lies at the northwest end of northwest-trending gold-in-saprolite
anomaly, that has been traced more than 5km through the Central deposit to the southeast (see press
releases dated July 15, 2018 and June 27, 2018). The intervening region is still largely undrilled, and the
5km long gold anomaly remains open along strike.
Figure 2: Map showing the current estimated limits of the gold-in-oxide blanket (dashed line) at the
PDM target with Historic diamond drill holes and previously reported and recently completed vertical
RC drill holes (labelled in yellow). Grade x thickness contours are also shown in red yellow and define
a NW trending zone which may indicate the presence of an underlying primary source for the gold in
the gold-in-oxide blanket
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/101131_1eee143d44ea79e7_003full.jpg
Drill
Hole
Weathering
Mineralized
Zone
From
(m)
To
(m)
Width
(m)
Grade
(g/t)
RC187
Oxide/Saprolite
Blanket
0.0
11.0
11.0
0.2
EOH
60.0
RC188
Oxide/Saprolite
Blanket
5.0
9.0
4.0
0.2
EOH
63.0
RC189
Oxide/Saprolite
Blanket
0.0
N.S.V
EOH
60.0
RC220
Oxide/Saprolite
Blanket
0.0
13.0
13.0
0.9
EOH
37.0
RC221
Oxide/Saprolite
Blanket
0.0
5.0
5.0
0.2
EOH
63.0
RC222
Oxide/Saprolite
Blanket
0.0
12.0
12.0
0.2
EOH
56.0
RC223
Oxide/Saprolite
Blanket
6.0
7.0
1.0
0.8
EOH
48.0
RC224
Oxide/Saprolite
Blanket
0.0
8.0
8.0
0.2
EOH
30.0
RC225
Oxide/Saprolite
Blanket
0.0
N.S.V.
EOH
49.0
RC226
Oxide/Saprolite
Blanket
3.0
5.0
2.0
0.2
25.0
35.0
10.0
0.6
Fresh Rock
45.0
46.0
1.0
6.2
EOH
100.0
Table 1: Table of drill results for RC drill holes at PDM RC187 to RC189 and RC220 to RC226.
N.S.V. = no significant values
Drilling Update
MG Diamond and RC Drilling
Results are currently pending on 42 RC holes at MG designed to test the extent of the gold-in-oxide
blanket. Diamond drilling designed to define the high-grade zones within the primary basement MG gold
deposit also continues. Assay results are pending on thirteen diamond-drill holes.
Pau de Merenda Diamond Drilling
Results are also pending on five 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.
Diamond drilling continues.
Central Diamond Drilling
Diamond drilling has commenced at the Central gold deposit and is aimed at defining the high-grade
zones within the Central gold deposit. A total of 43 holes are planned totaling 5400m.
Alonso Reconnaissance Diamond Drilling
Results are currently pending on five diamond drill holes 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).
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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https://www.newsfilecorp.com/release/101131