Cabral Intersects More High-Grade Gold in Initial Reconnaissance Drilling at the Machichie East Target, Cuiú Cuiú Project, Brazil
Cabral Intersects More High-Grade Gold in Initial
Reconnaissance Drilling at the Machichie East Target,
Cuiú Cuiú Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2019) -
Cabral Gold Inc.
(TSXV:
CBR) (OTC PINK: CBGZF)
("Cabral" or the
"Company")
is pleased to announce drill results from the Machichie East target at the Cuiú Cuiú Project, Pará State, northern
Brazil. These results follow recent initial results from the nearby Machichie target, which like Machichie East, was never
previously drill tested. The Machichie East Phase I reconnaissance diamond-drill program is part of a larger 20-hole
reconnaissance program designed to test nine separate high-grade gold targets.
Highlights
Drill hole CC183-19 targeted a coincident magnetic low, chargeability high and Au-Mo-Cu auger anomaly and returned
15.9m @ 1.73 g/t gold
including
0.5m @ 21.3 g/t gold and 1.0m @ 10.3 g/t gold
in a new and previously unknown
structure
which is open along strike and at depth
This new zone is located 400m north-east of the recently discovered Machichie zone and is interpreted to be a new and
different structure
Drill hole CC180-19 which was drilled at the Machichie target and was lost in saprolite but none-the-less returned
1m @
5.1 g/t gold
at the bottom of the hole confirming the presence of mineralization that was encountered in replacement hole
CC181-19 at the western end of the main Machichie target
Elevated silver, tungsten, copper and molybdenum values were also noted from drill hole CC183-19 at Machichie East,
which may suggest proximity to a concealed intrusive source
Machichie East Drill Results
A single reconnaissance drill hole CC183-19, was completed to a depth of 250.5m at Machichie East, a target which had never
been previously drill tested. The hole was located 400m NE of hole CC177-19 at the recently announced Machichie discovery
(see press release dated 28
th
February 2019), and was designed to test a coincident magnetic low, IP chargeability high
anomaly, and multi-element saprolite/soil geochemical anomaly.
The hole intersected
15.9m @ 1.73 g/t gold
from 79m,
including
0.5m @ 21.3 g/t gold
from 86.5m and
1m @ 10.3 g/t gold
from 91.4m associated with strong silica-pyrite alteration
and quartz-pyrite vein zones (see Figures 1 and 2). Several additional shorter and lower grade intersections were intersected
elsewhere in the hole (see Table 1).
Unusually for Cuiú Cuiú, elevated silver (Ag), copper (Cu) and tungsten (W) values were returned from the principal intersection
described above, with a maximum of 27 g/t Ag, 0.1% Cu and 0.06% W. More broadly outside of this zone, the tungsten mineral
scheelite, and coarse centimeter-sized molybdenite was observed in veins. Scheelite also occurs locally in wall-rock alteration
zones. Values up to 0.17% W, 0.12% Mo and 0.15% Cu were encountered in selected samples throughout the hole. Tungsten
was also recognized outside of the higher-grade gold intervals.
Given these initial positive results, further multi-element analysis
is planned.
This mineral and metal association is consistent with an intrusive related gold deposit model and raises the possibility of
concealed intrusive sources within the Cuiú Cuiú project area, which are yet to be discovered.
Detailed drill results from Machichie East are shown in Table 1.
Drill hole
From (m)
To (m)
Interval (m)
Grade (g/t gold)
Machichie
CC180-19
39.4
40.5 (EOH)
1.1
5.1
Machichie East
CC183-19
22.6
29.5
6.9
1.1
+
79.0
94.9
15.9
1.7
Incl.
86.5
87.0
0.5
21.3
Incl.
91.4
92.4
1.0
10.3
+
106.7
108.1
1.4
0.8
+
172.9
173.6
0.7
0.9
+
220.8
221.3
0.5
0.7
Table 1: Drill results from the Machichie and Machichie East target. The drill hole CC180-19 mineralized interval is open,
with the hole abandoned in a saprolite-hosted vein at 40.5m. In drill hole CC183-19, the depth of saprolite is 57.45m; the
interval 22.6-29.5m is located in the basal sediments of the transported overburden sequence.
Figure 1: Map showing the location of Machichie and Machichie East drill holes in relation to MG deposit
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/43668_1377ba1f74c5bb43_002full.jpg
Figure 2: Cross section through Machichie East target showing drill hole CC183-19 and mineralized intervals
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/43668_1377ba1f74c5bb43_003full.jpg
Unlike the recently discovered Machichie structure, no historic surface workings are evident at Machichie East. The mineralized
zone at Machichie East is a blind target covered by overburden, and located approximately 150m north of the eastern projection
of the Machichie structure. Given the reconnaissance nature of this program, and the limited data available, Machichie East is
currently interpreted to be a different and previously unrecognised structure to Machichie. Further drilling will be required to
determine the orientation and strike extent of this new mineralized zone.
Visible scheelite and molybdenite were also recognized in the Machichie drill core. Given the strong initial Mo and W results
from Machichie East, multi-element analysis also is planned for Machichie samples.
Machichie Main East-West Trend
Results on four of the five holes which tested the main E-W trending Machiche magnetic-low were released on 28
th
February
2019 and included 3.4m @ 36.9 g/t gold. These holes confirmed the discovery of a significant new high-grade mineralized zone
at Machichie.
Results were pending on just one hole at Machichie, CC-180-19 which was terminated early in saprolite due to a loss of
circulation. This hole returned
1.1m @ 5.1g/t gold
from 39.4 - 40.5m depth and terminated at 40.5m having encountered the
mineralized zone, but failed to fully penetrate the zone. The subsequent more steeply inclined hole CC-181 was drilled from the
same platform and did intersect the Machichie mineralized zone.
Other Drill Targets
Drilling has been completed on three additional targets including MG (3 holes), 6 Irmaos (1 hole) and Quebra Bunda (1 hole).
Results are pending from all of these holes. This brings the total number of targets tested as part of this initial drill program to
five. Reconnaissance drilling is currently in progress at the sixth target Jerimum Cima, which unlike most of the other targets has
had some previous drilling. A historic hole at Jerimum Cima intersected 39m @ 5.1g/t gold and the current program will follow
up on this intercept. Assay results from these holes are pending.
Alan Carter, President and CEO commented, "the drill results from Machichie East demonstrate the presence of another
previously unknown mineralized structure at Cuiú Cuiú which will require further drilling. These results come soon after the
recently announced Machichie discovery located 400m to the south-west. We have now intersected two previously unknown
high-grade structures from the first two targets of this initial reconnaissance drill program and look forward to results from the
seven additional targets that will be tested as part of this drill program".
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 owns the Cuiú Cuiú gold project, which covers the largest of the historical placer gold camps in the Tapajós
region of northern Brazil, having yielded an estimated 2M oz of gold from the overall 20-30M oz gold produced during the
Tapajós gold rush. Placer workings cover over 850ha on the property but are largely exhausted. The few remaining artisanal
workers now process gold from palaeo-valley placer deposits and in places exploit high-grade gold mineralization from quartz
veins in saprolite (shallow highly weathered bedrock).
Cabral reported an updated NI 43-101 Mineral Resource Estimate in December 2018
totalling 5.9M tonnes grading 0.9 g/t Au
(Indicated) and 19.5M tonnes grading 1.2 g/t Au (Inferred), or 0.2M ounces and 0.8M ounces of gold, respectively. That estimate
was based on four deposits drilled prior to the cessation of exploration in 2012.
FOR FURTHER INFORMATION PLEASE CONTACT:
Alan Carter
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
Email:
www.cabralgold.com
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 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. Multi-element analyses are conducted at SGS using a multi-
element digest and ICP-OES finish (method ICP40B).
Drill holes results are quoted as down-hole length weighted
intersections.
Under the agreement with the
Cuiú Cuiú condominium, local artisanal operators can process mineralization to a depth of
30m, unless otherwise negotiated. Shafts generally stop at or above the depth of the water-table.
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