Cabral Gold Increases Size of Gold-in-Oxide Blanket at the MG Target by 50% and Commences Metallurgical Testing, Cuiú Cuiú District, Brazil
Cabral Gold Increases Size of Gold-in-Oxide
Blanket at the MG Target by 50% and
Commences Metallurgical Testing, Cuiú Cuiú
District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - November 9, 2021) -
Cabral Gold Inc.
(TSXV: CBR)
(OTC: CBGZF)
("Cabral" or the
"
Company
") is pleased to provide assay results from an additional
17 RC holes at the MG gold-in-oxide blanket at the Cuiú Cuiú gold
district in northern Brazil.
Highlights are as follows:
Results have been received from 17 additional RC drill holes which were designed to test the
extent and continuity of the MG gold-in-oxide blanket which overlies the primary MG gold deposit
and include
46m @ 1.2 g/t gold, 22m @ 0.7 g/t gold and 14m @ 0.8 g/t gold
Recent RC drilling at the MG gold-in-oxide blanket has
increased the surface area of the
blanket by a further 50% to 36 hectares
. This represents an 80% increase to the initial
estimated size of the gold-in-oxide blanket at MG which remains open in several directions
Cabral has signed an agreement with Kappes, Cassiday & Associates, a well-known laboratory
based in Reno, Nevada, USA to complete a series of metallurgical tests on mineralized samples
from the gold-in-oxide blanket at MG. Five diamond holes have been completed with the specific
objective of collecting samples for metallurgical test work and will be shipped during November
Alan Carter, Cabral's President and CEO commented, "These RC drill results suggest that the
recently identified gold-in-oxide blanket at MG is at least 50% larger (36 hectares) than we envisaged
just three weeks ago. The blanket at MG remains open in several directions, particularly to the west,
where the most westerly hole drilled to date returned 14m @ 0.8 g/t and 18m @ 0.5 g/t gold in
unconsolidated near surface oxide material. Furthermore, the metallurgical test work that we are
conducting on large samples of the gold-in-oxide material is obviously key to demonstrating the
economic viability of this near surface gold-in-oxide mineralization, and will be an important milestone
for the Company in the coming months."
MG Gold-in-Oxide Blanket RC Drilling
Following the discovery of an extensive gold-in-oxide blanket in near surface unconsolidated material
directly above the MG gold deposit in April of this year (see press release dated April 15, 2021 and
Figure 1), Cabral has moved swiftly to define the limits to the gold-in-oxide mineralization (see press
releases dated July 29, 2021, August 31, 2021 and October 14, 2021).
Figure 1: Map showing the location of the MG deposit and overlying MG gold-in-oxide target, as well
as the
Central gold deposit, the Pau de Merenda (PDM) gold-in-oxide blanket
and other key targets within
this part of the Cuiú Cuiú district
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/102595_c8628414b4dd7aa7_002full.jpg
A total of 79 RC holes have been completed at the MG gold-in-oxide blanket. Results have been
reported so far on a total of 49 RC holes including 17 holes which are reported here.
Assay results have been returned on holes RC162 to RC169, RC190 to RC194 and RC203 to RC206
(Figure 2). These holes returned intervals of gold-in-oxide mineralization within the overlying
unconsolidated soils and sediments and have expanded the surface footprint of the gold-in-oxide blanket
at MG by 50% (to 36 hectares) from the most recent size estimate of 24 hectares (see press release
dated October 14, 2021).
Figure 2: Map showing both the new outline and the previous outline on surface of the
MG gold-in-oxide blanket and recent RC drill hole results
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/102595_c8628414b4dd7aa7_003full.jpg
The most significant intercepts from these holes are as follows:
Drill holes RC203, RC204, RC205 and RC206 were all drilled on section 553200 in the western central
part of the gold-in-oxide blanket (Figure 3). RC205 returned
46m @ 1.2 g/t gold
from surface
including
3m @ 5.5 g/t gold
from 11m depth. This is the second-best hole drilled to date within the gold-in-oxide
blanket at MG. RC206 was the most southerly hole drilled on this section and returned
10m @ 0.3 g/t
gold
from surface and
5m @ 0.5 g/t gold
from 18m depth, indicating that the blanket remains open to
the south.
Similarly, the most northerly hole on this section, RC203, returned
4m @ 0.8 g/t gold
from 5m
depth indicating that the blanket is also open to the north.
Drill hole RC166 was completed on section 552750 located on the extreme western side of the gold-in-
oxide blanket at MG and is currently the most westerly drill hole into the blanket which has yielded results.
It returned
14m @ 0.8g/t gold
from 3m depth and
18m @ 0.5 g/t gold
from 25m depth, indicating that
the gold-in-oxide blanket mineralization is still open to the west.
Similarly, drill hole RC162 in the extreme east was completed on section 553900 and returned
22m @
0.7 g/t gold
, indicating that the blanket remains open to the north-east, as well as in several other
directions.
Figure 3: Cross section (section 553200) through the MG deposit and overlying MG gold-in-oxide
target,
showing assay results from RC203, RC204, RC205 and RC206
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3900/102595_c8628414b4dd7aa7_004full.jpg
Assay results are still pending on an additional 30 RC holes which have tested the blanket.
Drill Hole
Weathering
Mineralized Zone
From
to
Width
Grade
#
m
m
m
g/t gold
RC0162
Oxide/Saprolite
Blanket
1.0
9.0
8.0
0.1
16.0
23.0
7.0
0.2
30.0
52.0
22.0
0.7
incl.
35.0
37.0
2.0
3.0
Fresh Rock
70.0
73.0
3.0
0.4
EOH
85.0
RC0163
Oxide/Saprolite
Blanket
4.0
9.0
5.0
0.2
13.0
15.0
2.0
0.1
17.0
19.0
2.0
0.1
27.0
29.0
2.0
1.3
EOH
60.0
RC0164
Oxide/Saprolite
Blanket
6.0
15.0
9.0
0.1
55.0
61.0
6.0
0.3
61.0
68.0
7.0
0.3
EOH
73.0
RC0165
Oxide/Saprolite
Blanket
10.0
16.0
6.0
0.2
EOH
65.0
RC0166
Oxide/Saprolite
Blanket
3.0
17.0
14.0
0.8
incl.
9.0
10.0
1.0
9.1
25.0
43.0
18.0
0.5
EOH
92.0
RC0167
Oxide/Saprolite
Blanket
20.0
49.0
29.0
0.3
Fresh Rock
61.0
70.0
9.0
0.3
EOH
70.0
RC0168
Oxide/Saprolite
Blanket
25.0
40.0
15.0
0.2
Fresh Rock
62.0
85.0
23.0
0.3
EOH
115.0
RC0169
Oxide/Saprolite
Blanket
5.0
7.0
2.0
0.2
25.0
27.0
2.0
0.2
64.0
71.0
7.0
0.1
Fresh Rock
80.0
84.0
4.0
3.4
incl.
83.0
84.0
1.0
7.5
EOH
84.0
RC0190
Oxide/Saprolite
Blanket
10.0
38.0
28.0
0.4
EOH
91.0
RC0191
Oxide/Saprolite
Blanket
0.0
3.0
3.0
0.4
14.0
34.0
20.0
0.3
Fresh Rock
47.0
52.0
5.0
1.9
incl.
50.0
51.0
1.0
8.5
58.0
65.0
7.0
0.5
EOH
65.0
RC0192
Oxide/Saprolite
Blanket
0.0
10.0
10.0
0.1
EOH
30.0
RC0193
Oxide/Saprolite
Blanket
0.0
4.0
4.0
0.1
13.0
16.0
3.0
0.4
Fresh Rock
44.0
53.0
9.0
0.3
76.0
81.0
5.0
0.1
87.0
99.0
12.0
0.1
EOH
100.0
RC0194
Oxide/Saprolite
Blanket
0.0
8.0
8.0
0.6
13.0
17.0
4.0
0.2
EOH
107.0
RC0203
Oxide/Saprolite
Blanket
5.0
9.0
4.0
0.8
EOH
40.0
RC0204
Oxide/Saprolite
Blanket
0.0
50.0
50.0
0.4
50.0
82.0
32.0
0.4
EOH
82.0
RC0205
Oxide/Saprolite
Blanket
0.0
46.0
46.0
1.2
incl.
11.0
14.0
3.0
5.5
Fresh Rock
46.0
54.0
8.0
0.3
EOH
73.0
RC0206
Oxide/Saprolite
Blanket
0.0
10.0
10.0
0.3
18.0
23.0
5.0
0.5
30.0
32.0
2.0
0.2
52.0
55.0
3.0
2.4
incl.
53.0
54.0
1.0
6.2
EOH
55.0
Table 1: Table of drill assay results for reconnaissance RC drill holes at the MG gold-in-oxide
target,
RC162 to RC169, RC190 to RC194 and RC203 to RC206
MG Oxide Blanket Metallurgical Work Program
The identification of the extensive thick cover sequence, of mineralized unconsolidated oxidized and
saprolitized colluvial cover and saprolitized basement rocks above the steep-dipping MG primary
basement gold deposit is an important development for the Cuiú Cuiú gold project. This area is
identified or designated as an "oxide blanket deposit", and was largely classified as barren in historic
resource estimates.
Most, if not all, of this material should be expected to be free digging, and would be
pre-strip within any open pit exploiting the basement gold deposit.
It may also be amenable to low-cost
and low-capital heap-leach processing.
To that end, Cabral has engaged Kappes, Cassiday & Associates (KCA) to conduct preliminary
metallurgical tests to explore the possibility of heap leaching the unconsolidated saprolitized colluvial
blanket and partially consolidated oxidized saprolitized basement gold mineralization. Approximately
450kg of this material from five metallurgical diamond-drill holes will be shipped later this month to
KCA's Reno, Nevada Laboratory for a variety of tests. Core from each hole was cut in half, with one half
sent for gold analysis, and the remainder stored for shipment to KCA. Densities were measured at
regular intervals. Assays are pending from all of the five holes.
Material will be initially subdivided into seven subsets, including: low- and high-grade soil, low- and high-
grade colluvium, alluvial-fluvial sediments, and both high- and low-grade basement saprolite.
Bottle-roll
test will be performed on all categories, while gravity tests will also be performed on the higher-grade
subsets. Finally, a composite sample of the remaining material will be combined in the approximate
proportions of occurrence within the deposit. Agglomeration tests (compact permeability tests) will then
be performed on this material to determine the appropriate lime and cement additions required for
effective leach performance. The final product will be subjected to a two-month column test to estimate
longer term gold recoveries. It is expected that results could be available from the initial test work by late
this year, while the column test work results should be available in early 2022.
Should low-cost heap leaching be effective for this first oxide blanket deposit, then it could open the door
to treat other the oxide blanket deposits, such as PDM (Pau de Merenda), that occur on the property,
and potentially 17.9 square kilometres of placer gold tailings occurring throughout the Cuiú Cuiú project.
Drilling Update
Diamond drilling is continuing at the primary Central gold deposit and the third hole is currently in
progress from a total program of 43 planned diamond drill holes which are aimed at further defining the
high-grade zones at Central. Previous diamond drilling at Central included
220.7m @ 2.0 g/t gold
including 9.8m @ 17.9 g/t gold.
RC drilling at Central has also commenced with the objective of testing for the presence of gold-in-oxide
blanket mineralization above the primary Central gold deposit. The second RC hole is currently in
progress.
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 currently pending on five diamond-drill holes.
Similarly, diamond drilling is in progress at the MG gold deposit aimed at defining the high-grade zones
within the deposit.
Results are currently pending on five diamond drill holes at the Alonso target which is located 3km SE of
the MG gold deposit. Twenty-three samples of boulder float material from Alonso 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/102595