Cabral Gold Identifies a New Mineralized Structure at Indio Target and Provides Tracaja Drill Update, Cuiu Cuiu District, Brazil
Cabral Gold Identifies a New Mineralized
Structure at Indio Target and Provides Tracaja
Drill Update, Cuiu Cuiu District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2021) -
Cabral Gold Inc.
(TSXV: CBR)
(OTC Pink: CBGZF)
("Cabral" or the
"
Company
") is pleased to provide an update regarding the
current reconnaissance RC drilling at Tracaja and the identification of a compelling new drill target at
Indio, within the Cuiú Cuiú gold
district in northern Brazil.
Highlights are as follows;
Reconnaissance surface sampling at the
Indio
target returned gold values from quartz-sulphide
float material up to
137.8 g/t gold
. Reconnaissance drilling is planned during the second half of
January
A northeast-trending vein structure has been identified in reconnaissance drilling
at the
Tracaja
target where a total of seven reconnaissance RC holes have been completed
to date. Nineteen
surface grab samples collected from the edge of historic placer workings at Tracaja in November
2020, returned gold values of
24.2 g/t to 165.0 g/t gold
and averaged 74.9 g/t gold
Alan Carter, Cabral's President and CEO commented, "The identification of high-grade quartz-
sulphide mineralization on surface at the Indio target, with values up to 137.8 g/t gold, is very
encouraging and will be tested by reconnaissance drilling over the next couple of weeks. Similarly, the
identification of a NE-trending mineralized vein system at Tracaja is significant and gives us a
mineralized structure that we can now trace along strike and down-dip in order to determine which part
of the structure is the source of the high-grade blocks found on surface. It is important to note that our
reconnaissance drill program continues in parallel with follow up drilling using a larger contract RC rig
which is having excellent success at the Machichie target. The Cuiú Cuiú district was not the largest
placer gold area in the world's third largest placer gold region for no reason, and our exploration
program is only just starting to reveal the grade and size of this exciting gold district."
Figure 1: Cuiú Cuiú location map showing the Indio and Tracaja targets in relation to the 43-101
compliant MG and Central gold resources and the recently identified Cilmar, Alonso, Medusa and
Dona Moca targets. Background to map is 1VD RTP airborne magnetic data
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/72372_a6733345a4985baf_002full.jpg
Indio Target
Results were received from several new surface grab samples at the undrilled Indio target which is
located approximately 1.5km SE of the MG gold deposit and 2.5km NW of the Alonso gold target
(Figure 1).
Previous results from surface float samples at Indio ranged from
1.5 to 52.6 g/t gold
and results from
quartz-sulphide samples (see Figure 3) taken from a new area 200m to the northwest where a
submerged vein is reported, returned values of
7.7, 9.7, 13.3 and 29.3 g/t gold.
A sample taken slightly
to the south of a previous sampling site returned
137.8 g/t gold
(Figure 2).
The strike of the vein is
reported to be ENE, subparallel to a significant gradient which forms a lineament in the magnetic data.
Reconnaissance drilling at Indio with an initial six holes targeting the historic workings, will commence
within the next few days.
Figure 2: Photograph showing surface samples of high-grade quartz-sulphide vein material with gold
contents up to 137.8 g/t gold, recently taken at the Indio target located 1.5km SE of the MG gold
deposit
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/72372_a6733345a4985baf_003full.jpg
Tracaja Target
Reconnaissance drilling using Cabral's ASV ST-50 Multipower reconnaissance RC rig at the recently
identified high-grade Tracaja target has identified several quartz vein structures with abundant sulphide
trending NE. Tracaja is located 1.8km NNE of the Medusa target (Figure 1) and has never been drill
tested.
Surface sampling at Tracaja during November and December 2020 returned gold values of
24.2 g/t to
165.0 g/t gold and averaging 74.9 g/t gold
from nineteen surface float samples collected over an area
of 150m diameter (see news release dated December 3, 2020).
Results have been received from the initial five reconnaissance drill holes and include 1m @ 0.61 g/t
gold from 51m and 7m @ 0.45 g/t gold from 82m in hole 50, and 2m @ 0.70 g/t gold from 55m in hole
51, and 1m @ 0.64g/t gold from 28m in hole 52 (Figure 3). Whilst these gold values are lower than the
blocks sampled on surface, the presence of a mineralized structure is significant and will require further
follow up drilling. It is also important to note that hole 50 is currently the most northerly hole drilled at the
Tracaja target, and was drilled north of the boulders, and hole 52 was drilled 200m south of hole 50, and
south of the mineralized boulders. Phase I drilling is now complete at Tracaja. Results are pending for
hole 53, drilled to test across-strike from the principal vein trend.
Figure 3: Detailed map of Tracaja target showing location of surface float samples (yellow triangles)
and six initial reconnaissance RC drill holes with interpreted trend of mineralized zone
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3900/72372_a6733345a4985baf_004full.jpg
Mineralized samples identified at Tracaja are associated with historical alluvial placer workings. The
Tracaja area was extensively worked over a 950m portion of the NE-trending drainage system, with the
workings emanating from a position where the now-established NE-trending vein structure is cut by a
concealed E-W structure which is evident from the airborne magnetic data (Figure 4). This part of the
Cuiú Cuiú gold district has never received the detailed ground-magnetic follow-up. Ground magnetics
was effective in assisting targeting within the core part of the project area, where the Central and MG
deposits were delineated. A ground magnetic survey will be completed prior to Phase II drilling at
Tracaja.
Figure 4: Map showing Tracaja target, 1VD RTP airborne magnetic data (grey scale), surface rock
chip results (yellow triangles), recent drilling (blue) and targets for follow up (red ellipses) which
indicate intersecting structures
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/3900/72372_a6733345a4985baf_005full.jpg
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 estimate 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/72372