Cabral Gold Extends Primary MG Gold Deposit and Recently Identified Footwall Zone Down Dip, Cuiú Cuiú Gold District, Brazil
Cabral Gold Extends Primary MG Gold Deposit
and Recently Identified Footwall Zone Down
Dip, Cuiú Cuiú Gold District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - November 3, 2021) -
Cabral Gold Inc.
(TSXV: CBR)
(OTC PINK: CBGZF)
("Cabral" or the
"
Company
") is pleased to provide additional assay results
from nine recently completed diamond drill holes in the primary bedrock 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:
DDH228 drilled at MG returned
9.1m @ 1.1 g/t gold
from 187.9m depth and
14m @ 1.9 g/t gold
from 208.6m depth including
2.5m @ 7.5 g/t gold
. This intercept is the down-dip continuation of
the zone intersected in hole DDH215 which returned
17.6m @ 4.1 g/t gold
including
1.3m @ 29.5
g/t gold
DDH229 drilled on the same section as DDH228, returned
10.5m @ 2.4 g/t gold
from 258.5m
depth including
2m @ 4.7 g/t gold,
and
2.6m @ 2.8 g/t gold
including
0.9m @ 7.1 g/t gold, and
8.8m @ 0.5 g/t gold.
The mineralized zone remains open at depth
Both DDH228 and DDH229 also intersected the recently identified mineralized zone which sits in
the footwall of the main MG deposit and was intersected in DDH215 which returned
18.1m @ 4.3
g/t gold
. Both mineralized zones remain open at depth
DDH226 and DDH227 both intersected significant thicknesses of mineralization within the
overlying gold-in-oxide blanket indicating that the blanket remains open to the north-east
Alan Carter, Cabral's President and CEO commented, "The drill results that we are reporting today
from the diamond drilling at MG further extend the main mineralized zone at depth and confirm the
presence of a significant mineralized zone within the footwall to the primary MG gold deposit. Both
zones remain open at depth. The down-dip continuation of a significant mineralized zone in the
footwall to the MG deposit is very encouraging. Elsewhere at MG, the recent diamond drilling is
corroborating the recent RC drill results and suggesting that the gold-in-oxide blanket at MG, which
overlies the primary MG gold deposit, will continue to grow."
MG Diamond Drilling
Assay results were returned on nine additional diamond drill holes (DDH221 to DDH229) which were
recently completed at the MG gold deposit (Figure 1). The current diamond-drill program is designed to
define the limits to the high-grade zones within the existing MG and Central deposits at Cuiú Cuiú.
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 (DDH221 - DDH229) are also shown. Note that DDH225 returned no significant
results
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/101836_82139912e48a9b26_002full.jpg
Holes DDH228 and DDH229 were both drilled on the same section (553610) located in the central
eastern portion of the primary MG gold deposit (Figures 1 and 2). The holes were designed to follow up
on previous holes drilled in the same section such as DDH202 which returned
14.2m @ 6.7 g/t gold
(see press release dated January 20, 2020)
and DDH215 which intersected
17.6m @ 4.1 g/t gold
and
18.1m @ 4.3 g/t gold
(see press release dated July 8, 2021). DDH215 is of particular significance
because it indicates the presence of a new mineralized zone (
18.1m @ 4.3 g/t gold)
within the footwall
to the main mineralized zone at MG.
DDH228 was drilled down dip of DDH215. It returned
9.1m @ 1.1 g/t gold
from 187.9m depth and
14m
@ 1.9 g/t gold
from 208.6m depth including
2.5m @ 7.5 g/t gold
(Figure 1). This intercept is the down-
dip continuation of the main mineralized zone at MG intersected in hole DDH215 which returned
17.6m
@ 4.1 g/t gold
including
1.3m @ 29.5 g/t gold.
The footwall zone returned lower grade intervals
including
7m @ 0.6 g/t gold,
but suggests continuity of the zone at depth.
DDH229, drilled on the same section as DDH228, returned
10.5m @ 2.4 g/t gold
from 258.5m depth,
including
2m @ 4.7 g/t gold,
and
2.6m @ 2.8 g/t gold
from 246.1m depth including
0.9m @ 7.1 g/t
gold
(Figure 2).
These intercepts represent the down-dip continuation of the main mineralized zone at
MG. The hole also intersected
8.8m @ 0.5 g/t gold
from 292.8m depth
and
9.2m @ 0.4 g/t gold
from
310.5m depth. Both the main mineralized zone at MG and the footwall zone remain open at depth.
Figure 2: Cross-section (E553610) through the primary MG gold deposit showing drill results from
DDH228 and DDH229 and the continuation of both the main mineralized zone and the
new footwall
zone at the primary MG gold deposit
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/101836_82139912e48a9b26_003full.jpg
DDH226 and DDH227 were drilled on section 553745 to test the north-eastern continuation of the gold-
in-oxide blanket (Figure 3) and both holes intersected significant thicknesses of gold mineralization
within the overlying gold-in-oxide blanket. Recent RC drilling on this section returned 66m @ 0.7 g/t gold
in hole RC157 from 1.0m depth (see press release dated October 14,2021). DDH226 and DDH227
were drilled 100m north of RC157. DDH226 intersected
22m @ 0.3 g/t gold
from surface, while
DDH227, which was drilled from the same collar, intersected
17m @ 0.3 g/t gold
from 4.0m depth.
These results indicate that the gold-in-oxide blanket remains open to the north-east.
Both DDH226 and DDH227 also intersected the main primary MG mineralized zone at depth (Figure 3).
DDH226 returned
11m @ 0.4 g/t gold
from 157m depth. DDH227, which was drilled further down dip
returned
3m @ 1.3 g/t gold
from 183m depth, 8m @ 0.8 g/t gold from 202m depth and
9m @ 0.4 g/t
gold
from 216m depth. These results indicate the continuation of the main mineralized zone at depth.
Diamond drilling at MG continues with results pending on an additional nine diamond drill holes.
Figure 3: Cross-section (line 553745) through the primary MG gold deposit and the overlying gold-in-
oxide blanket showing drill results from DDH226 and DDH227 and the continuity of the gold-in-oxide
blanket to the north and the continuity of the main mineralized zone at depth
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3900/101836_82139912e48a9b26_004full.jpg
Drill Hole
Weathering
Mineralized Zone
From
to
Width
Grade
#
m
m
m
g/t gold
DDH221
Fresh Rock
MG Main
Zone
198.0
199.5
1.5
0.6
EOH
285.0
DDH222
Fresh Rock
MG Main Zone
115.0
117.8
2.8
0.6
133.4
147.6
14.2
0.4
including
136.6
140.2
3.6
0.8
EOH
181.7
DDH223
Oxide/Saprolite
Blanket
5.2
7.0
1.8
0.4
94.1
95.6
1.5
0.4
100.5
103.0
2.5
0.3
EOH
154.7
DDH224
Oxide/Saprolite
Blanket
0.0
12.0
12.0
0.10
15.5
38.5
23.0
0.2
82.0
85.0
3.0
1.0
85.0
95.0
10.0
0.6
100.5
104.0
3.5
0.4
109.0
111.0
2.0
0.7
EOH
174.5
DDH226
Oxide/Saprolite
Blanket
0.0
22.0
22.0
0.3
157.0
168.0
11.0
0.4
EOH
226.8
DDH227
Oxide/Saprolite
Blanket
4.0
21.0
17.0
0.3
Fresh Rock
183.0
186.0
3.0
1.3
202.0
210.0
8.0
0.8
216.0
225.0
9.0
0.4
EOH
310.5
DDH228
Fresh Rock
187.9
197.0
9.1
1.1
incl.
188.4
189.4
1.0
3.0
incl.
195.4
196.0
0.6
9.0
208.6
222.6
14.0
1.9
incl.
208.6
211.1
2.5
7.5
226.0
234.0
8.0
0.5
249.0
256.0
7.0
0.6
EOH
380.4
DDH229
Fresh Rock
232.5
235.0
2.5
0.7
246.1
248.7
2.6
2.8
incl.
246.1
247.0
0.9
7.1
258.5
269.0
10.5
2.4
incl.
263.0
265.0
2.0
4.7
292.8
301.6
8.8
0.5
310.5
319.7
9.2
0.4
EOH
352.6
Table 1: Table of Drill results for diamond drill holes DDH221 to DDH229
No significant results were returned for DDH225
Drilling Update
Miraboa Reconnaissance RC Drilling
Results were returned on 30 shallow reconnaissance holes at the Miraboa target which is located 2.8km
south of the Central gold deposit and is the site of extensive and as yet unexplained historic placer gold
workings.
Two of the reconnaissance RC holes intersected low grade but significant gold values near surface,
including RC182 which returned
17m @ 0.35 g/t gold from surface,
and RC128 which intersected
8m
@ 0.2 g/t gold
(Figure 4). The presence of gold in these two holes may indicate the presence of a near
surface gold-in-oxide blanket similar to those identified at the PDM target and above the MG gold
deposit, but the bulk of the placer gold extracted from the E-W trending drainage at Miraboa remains
unexplained. Further drilling will be required.
Figure 4: Map showing location of shallow reconnaissance drilling (in yellow) at Miraboa target
together with historic alluvial (placer) gold workings in streams and gold-in-soil anomaly (contoured).
Map shows location of positive reconnaissance drill results
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/3900/101836_82139912e48a9b26_005full.jpg
Central Diamond and RC drilling
Following the recent commencement of follow-up diamond drilling at the primary Central gold-deposit
(see press release dated October 28, 2021), which is aimed at further defining the high-grade zones at
Central, RC drilling has also commenced aimed at testing for the presence of gold-in-oxide blanket
mineralization above the primary Central gold deposit. A program of approximately 43 diamond drill
holes and 26 RC holes are planned.
PDM (Pau de Merenda) diamond drilling
Diamond drilling is continuing 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 pending on five diamond-drill holes.
MG RC drilling
Results are currently pending on 44 RC holes at MG designed to test the extent of the gold-in-oxide
blanket.
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/101836