Cabral Gold Identifies New High-Grade Veins and Adds Second Drill Rig at Cuiú Cuiú Gold District
Cabral Gold Identifies New High-Grade Veins
and Adds Second Drill Rig at Cuiú Cuiú Gold
District
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2020) -
Cabral Gold Inc.
(TSXV: CBR)
(OTC: CBGZF)
("Cabral" or the
"
Company
") is pleased to announce the identification of at least six
new NE trending high-grade veins in the Machichie SW area located immediately north of the MG
deposit, at the Cuiú Cuiú gold
district in northern Brazil. Highlights are as follows:
Six new NE trending high-grade vein structures have been identified in the Machichie SW area as
a result of recent mapping between the MG deposit and the Machichie target which was drilled
during 2019
Drilling in this area of the Cuiú Cuiú district returned
3.4m @ 36.9 g/t gold
during 2019. Previously
it was not known if this zone was the western faulted offset of the Machichie structure or a separate
discrete mineralized structure. It is now clear that this drill intercept represents a separate
mineralized vein structure which has been named Machichie SW
Five other NE trending veins which are parallel to Machichie SW have now been mapped. These
include Filão de Amor immediately to the west, and Zezinho, Hamilton Novo, Maranhão W and
Maranhão E to the east. Grab samples from the Maranhão W and Maranhão E veins recently
returned
21.4 g/t gold and 15.3 g/t gold,
respectively
Previously, trenching of the Hamilton Novo vein returned
5.8m @ 16.0 g/t gold
on surface
and
3.0m @ 7.4 g/t
gold
in a single historic drill hole, with the intercept open along strike and down-dip
In order to test the increasing number of high-grade targets identified at Cuiú Cuiú, the Company
has signed a contract with a third-party independent drilling contractor to add a second RC drill rig
on site
Alan Carter, Cabral's CEO commented, "The identification of several new high-grade vein structures
in the area between the MG gold deposit and the Machichie target is a truly exciting development and
adds to the potential of this particular part of the Cuiú Cuiú district. Until now, we were not certain if the
high-grade intercept of
3.4m @ 36.9 g/t gold
which we drilled in 2019, was a faulted offset of the
Machichie zone, but it now appears that it is a separate vein structure which is part of a vein array of at
least six parallel high-grade veins. These new veins could contain a very large amount of high-grade
gold mineralization and the addition of a second RC drill rig on the project will allow us to advance on
two targets simultaneously."
Machichie SW
The Machichie SW target area of the Cuiú Cuiú district is located between the E-W trending MG
deposit, which currently contains an Initial Inferred Resource of 8.6Mt @ 1.45 g/t gold (400,000oz), and
the recently discovered Machichie zone, which is a parallel E-W trending zone located approximately
500m north of the MG deposit.
Prior to 2019, a surface trench in the area cut
5.8m @ 16.0 g/t gold
and a single drill hole below the
trench intersected
3.0m @ 7.4 g/t gold
. This occurrence was never followed up. In early 2019, however,
a single hole was drilled 125m to the west of the initial hole and cut
3.4m @ 36.9 g/t gold
. At the time, it
was not known whether this was the western extent of the Machichie structure, which had been faulted to
the south, or a separate structure.
Recent mapping by Cabral Gold's geologists has not only concluded that the two occurrences described
above are related to two separate NE trending veins, but four additional NE trending veins have also
been recognized further east, none of which have been previously drill tested. These clearly form part of
a high-grade vein array and are shown in Figure 1.
Figure 1: Detailed ground magnetic map (reduced to pole) showing MG deposit, the E-W trending
Machichie zon,e
and recently identified Machichie SW zone with new NE trending vein structures
included.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/64545_35fa85a1641de9fa_002full.jpg
Details regarding each vein structure from west to east are as follows:
Fil
ã
o de Amor
(undrilled) - mapped on surface, magnetic anomaly, surface samples range from
8.4 to 38.8 g/t gold
Machichie SW
(2 holes) - mapped on surface, magnetic anomaly, surface samples include
3.4
and 19.2 g/t gold
, one of two drill holes completed in 2019 cut
3.4m @ 36.9 g/t gold
(Figure 2)
Zezinho
(undrilled) - mapped on surface, magnetic anomaly, surface samples include
1.6 and
20.4 g/t gold
Hamilton Novo
(1 hole) - mapped on surface, magnetic anomaly, surface samples range from
1.0
to 225.8 g/t gold
, surface trenching returned
5.8m @ 16.0 g/t gold
(Figure 3), a single historic
drill hole drill intersected
3.0m @ 7.4 g/t gold
, estimated true width of 2.3 - 5.8m
Maranhão W
(undrilled) - mapped on surface, magnetic anomaly, surface sample of
21.4 g/t gold
Maranhão E
(undrilled) - mapped on surface, magnetic anomaly, surface sample of
15.3 g/t gold
The strike and depth extent of these veins is currently unknown due to variable surface exposure and an
almost complete lack of drilling to date. However, processing of the aerial and ground magnetic data
indicates that the NE-trending veins sets are developed in tensional structures bound by the E-W
trending MG and Machichie shear zones. Each of these NE-trending corridors, which are evident in the
magnetic data, extend at least 500-600m along strike. Left-lateral movement on the E-W zones at MG
and Machichie is believed to have resulted in the development of multiple contemporaneous NE trending
veins.
Based on this model, Cabral believes there is a high likelihood of discovering additional NE-trending
veins within this part of the Cuiú Cuiú District, as a number of E-W trending fault splays off the TZ
lineament are known.
Additional mapping, sampling and surface trenching is being conducted in order to
establish the along strike continuity of these vein structures and to test for additional new parallel veins.
Following the completion of this additional work, the Company will decide whether to include some or all
of these veins in the recently announced 25,000m drill program.
Figure 2: Mineralized drill core from Hole 182-19 which intersected the Machichie SW vein structure
and returned
3.4m @ 36.9 g/t gold
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/64545_35fa85a1641de9fa_003full.jpg
Figure 3: Hamilton Novo vein exposed on surface. Surface channel sampling here returned
5.8m @
16.0 g/t gold
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3900/64545_35fa85a1641de9fa_004full.jpg
Drilling Update
Cabral Gold has already completed several holes at the initial Alonso target and drill results from this
important high-grade target are expected shortly. Drilling is ongoing and will continue to systematically
test the high-grade gold targets discovered to date.
The identification of a significant number of new high-grade targets in the Machichie SW area, and the
ongoing regional reconnaissance program at Cuiú Cuiú, which is expected to generate additional
targets, has led to a review of the current drill program. This review has concluded that drilling on two
different targets simultaneously will allow for faster identification of high-grade deposits and increased
news flow. As a result, the Company has signed a contract with an established third party drilling
contractor to provide a second RC rig which is expected on site in the coming weeks.
About Cabral Gold Inc.
The Company is a junior resource company and is 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.
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.
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