Cabral Gold Identifies Fifth Gold-in-Oxide
Cabral Gold Identifies Fifth Gold-in-Oxide
Blanket and Trenches 18M @ 1.9 g/t Gold on
Surface at the Jerimum Cima Target, Cuiú
Cuiú Gold District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) -
Cabral Gold Inc. (TSXV: CBR)
(OTC Pink: CBGZF)
("Cabral" or the
"
Company
") is pleased to announce trench results from the
Jerimum Cima target and the identification of a fifth gold-in-oxide blanket within the Cuiú Cuiú Gold
District, Brazil.
Highlights
Surface trench CT050 at the Jerimum Cima target at Cuiú Cuiú returned
18m @ 1.9 g/t gold
including
1m @ 22.8 g/t gold
in weathered gold-in-oxide blanket material at surface. The trench
also returned results of
0.8m @ 47.6 g/t gold
(which remains open), 3m @ 0.5 g/t gold, 2m @ 0.3
g/t gold, and 1m @ 2.4 g/t gold
These results, together with previous reconnaissance drilling, indicate the presence of a fifth gold-
in-oxide blanket at Cuiú Cuiú which appears to extend over an area of 900 x 1000 metres. The
other gold-in-oxide blankets with Inferred and Indicated resources are Central, MG, PDM and
Machichie. Only the Indicated resources at Central and MG were included in the recently released
pre-feasibility study
Previous reconnaissance drilling at the Jerimum Cima target, to the east of trench CT050 returned
gold values of
14m @ 1.6 g/t gold, 20m @ 1.2 g/t gold, 10m @ 1.3 g/t gold and 24m @ 0.7 g/t
gold
in weathered gold-in-oxide blanket and saprolite material
Alan Carter, Cabral's President and CEO, commented,
"The surface trench results from CT050 at the
Jerimum Cima target confirm that we have a fifth gold-in-oxide blanket within the Cuiú Cuiú
gold
district. The results demonstrate the presence of extensive gold-in-oxide mineralization of excellent
grade at Jerimum Cima. This is likely to have a very positive impact on the recent PFS study on a
starter heap-leach operation which only considered mining gold-in-oxide material from the MG and
Central gold deposits. The potential to upgrade Inferred material at both MG and Central and the
likelihood of adding additional Indicated material with further material at the PDM and Machichie
discoveries and now at Jerimum Cima, bode very well for growing the overall gold-in-oxide resource
base. Furthermore, the presence of zones of higher-grade gold mineralization in the near surface
saprolite to the east of the Jerimum Cima area that was previously targeted by the reconnaissance
drilling, suggests that those zones of higher-grade mineralization may be more extensive than
previously envisaged, with a high likelihood of extending into the underlying bedrock."
Brian Arkell, Cabral's VP Exploration and Technical Services said: "
Jerimum Cima is actually one of
four adjacent targets that we are exploring in the area where surface geochemistry and geophysics
show high potential for discovery of near-surface gold-in-oxide mineralization. A large magnetic low in
the Jerimum Cima area suggests extensive magnetite destruction in the intrusive host rocks which is
one of the key indicators of alteration and mineralization at Cuiú Cuiú. In addition, much of the earlier
scout drilling intercepted substantial zones of gold mineralization in both the weathered oxide layer
and the underlying hard rock, including up to 45.6m @4.5 g/t gold in diamond drill hole CC-026 in
hard rock east of Jerimum Cima. We are currently in the process of completing further surface
exploration, including auger drilling plus additional trenching, and we are very eager to follow up with
the next round of drilling."
Jerimum Cima Trench Results
As part of the current effort to increase the gold-in-oxide resource inventory at Cuiú Cuiú, the company is
currently conducting a program of surface trenching and shallow RC drilling. Whilst this program aims at
adding both Inferred and indicated resources of gold-in-oxide material, of particular importance is
adding Indicated resources that can be included in the mine plan.
The Jerimum Cima target is located 3km ENE of the Central gold deposit and 3.5km NW of the MG gold
deposit (Figure 1). The target is characterized by a very strong gold-in-soil anomaly of +100ppb gold
covering an area of 900m x 1000m and is comparable with the gold-in-soil anomalies above the MG and
Central gold deposits and the PDM and Machichie gold discoveries.
Figure 1 Map showing location of known gold-in-oxide blankets with resources; Central, MG, PDM and
Machichie. The Jerimum Cima gold-in-oxide blanket is located approximately 3km ENE of the
Central gold deposit and 3.5km NW of the MG gold deposit.
* Only Indicated resources at Central and MG were considered in the PFS released on 21st October
2024. The main exploration targets (yellow dots) and distribution of historic placer gold workings (pale
yellow outlines) are also shown.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/229933_480d0899c48b996e_002full.jpg
Previous reconnaissance drilling at Jerimum Cima returned 39m @ 5.1 g/t gold in hard intrusive rock
material as well as a number of shallower, lower-grade gold intercepts in gold-in-oxide material which
include
14m @ 1.6 g/t gold, 20m @ 1.2 g/t gold, 10m @ 1.3 g/t gold, and 24m @ 0.7 g/t gold
(Figure 2). Previous drilling was mainly focused on identifying a hard-rock gold deposit.
The recently completed trench CT050 was oriented NW-SE in the western part of the Jerimum Cima
target, immediately west of previous reconnaissance drilling (Figure 2). The trench returned several
zones of gold-in-oxide mineralization including:
18m @ 1.9 g/t gold,
including
1m @ 22.8 g/t gold
0.8m @ 47.6 g/t gold
(open)
3m @ 0.5 g/t gold
2m @ 0.3 g/t gold
1m @ 2.4 g/t gold
All of the mineralized zones in CT050 remain open along strike and at depth. It is notable that all of the
mineralized zones in CT050 are co-incident with a magnetic low. The correlation of gold mineralization
with magnetite destruction in the host intrusive rocks is well established and is a feature of all of the
known gold deposits at Cuiu Cuiu, as well as the recent discoveries. The magnetic low centered on
Jerimum Cima is open to the NNE as well as to the south where exploration is in the early stages. Initial
auger soil samples in this southern area are anomalous with gold values up to 100ppb.
A second magnetic low, likely the same alteration system, occurs 100m to 200m east of Jerimum Cima.
Earlier scout drilling in this area returned results of
46m @ 4.5 g/t Au
and
33m @ 0.72 g/t Au
in
diamond-drill holes.
Whilst additional trenching and drilling is needed at Jerimum Cima in order to define a maiden resource,
management is confident that Jerimum Cima represents a fifth zone of substantial gold-in-oxide
mineralization within the Cuiu Cuiu district. This is likely to have a number of positive implications,
particularly on resource growth, as well as potential additions to the gold-in-oxide starter operation.
The presence of high grades within wider intervals of lower grade mineralization within the oxide material
also occurs at MG and Central and the Machichie discovery. The results from Jerimum Cima are very
similar and provide clues to the underlying hard rock potential.
Figure 2: Map showing the Jerimum Cima target with historic RC and diamond drill holes and recently
completed trench CT050 which returned 18m @ 1.9 g/t gold including 1m @ 22.8 g/t gold west of
previous reconnaissance drilling. The same trench also returned 0.8m @ 47.6 g/t gold at the eastern
extremity of the trench. Background is Total Magnetic Intensity reduced to pole. Terms: g/t = grams /
tonne, m = metres, Au = gold
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/229933_480d0899c48b996e_003full.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. Three main gold deposits have so far been defined at the Cuiú Cuiú project which
contain National Instrument ("NI") 43-101 compliant Indicated resources of 12.29Mt @ 1.14 g/t gold
(450,200oz) in fresh basement material and 11.11Mt @ 0.48 g/t gold (171,883oz) in oxide material. The
project also contains Inferred resources of 13.63Mt @ 1.04 g/t gold (455,100oz) in fresh basement
material and 12.22Mt @ 0.39 g/t gold (151,608oz) in oxide material. The resource estimate for the
primary material is based on the NI 43-101 technical report dated 12
th
October 2022.The resource
estimate for the oxide material is based on an NI 43-101 compliant estimate released on 21
st
October
2024 with an NI 43-101 compliant technical report expected to be filed within 45 days of the release
date.
The Tapajós Gold Province is the site of the largest gold rush in Brazil's history which according to the
ANM (Agência Nacional de Mineração or National Mining Agency of Brazil) produced an estimated 30
to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer
gold 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
Technical information included in this release was supervised and approved by Brian Arkell, B.S.
Geology and M.S. Economic Geology, SME (Registered Member), AusIMM (Fellow) and SEG
(Fellow), Cabral Gold's Vice President, Exploration and Technical Services, and a Qualified Person
under NI 43-101.
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. 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/229933