Confirms Continuity of High-Grade Zones at MG
Cabral Drills 5.6m @ 13.0 g/t Gold at Cuiú Cuiú and
Confirms Continuity of High-Grade Zones at MG
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2020) -
Cabral Gold Inc.
(TSXV:
CBR)
("Cabral" or the
"Company")
is pleased to provide results from an additional four diamond drill holes from the Phase II drilling program at the
Cuiú Cuiú Project, which was designed to test the continuity of high-grade zones within the MG (Moreira Gomes) deposit.
Highlights
Drill hole 202-19 was designed to test the continuity of high-grade mineralization at the MG deposit and returned
14.2m @
6.7 g/t gold
from 109.4m depth
including 5.6m @ 13.0 g/t gold
from 109.4m
and
0.9m @ 22.4 g/t gold
from 121.3m
depth
Drill hole 202-19 was drilled 50m west of hole 199-19 which recently returned
16.9m @ 9.6 g/t gold including 7.6m @
18.5 g/t gold
and also tested the up-dip continuity of mineralization previously intersected in hole 50-09 which had
returned 35m @ 2.0 g/t gold including 0.5m @ 13.5 g/t and 1.1m @ 6.6g//t gold
Drill hole 201-19 intersected
7.8m @ 4.7 g/t gold including 0.6m @ 48.5 g/t gold
. It was designed to test the up-dip
continuity of high-grade mineralization encountered in the eastern-most high-grade target within the MG deposit, above
historic hole 79-10, which returned 16.8m @ 5.0 g/t gold including 1.0m @ 56.0 g/t gold and 1m @ 11.6 g/t gold
These Phase II drill results confirm that the high-grade gold mineralization is continuous down-dip and along strike in at
least two of three high-grade zones tested in the recent Phase II program at MG
Alan Carter, President & CEO stated:
"These recent drill results from the MG deposit confirm our hypothesis that extensive
low-grade mineralization at Cuiú Cuiú
surrounds high-grade gold mineralization which is continuous down-dip and along
strike in several areas. This represents a step change in our understanding regarding the distribution of gold mineralization
and may explain why Cuiú Cuiú produced so much placer gold during the Tapajos gold rush from 1978 to 1995."
Background
Gold mineralization at Cuiú Cuiú occurs within broad deformed and altered mineralized corridors within granitic rocks. Within
these broad zones, distinctive, narrower higher-grade structural zones occur. Historic drill programs completed between 2008
and 2012 were designed to identify bulk-tonnage resources amenable to large-scale open-pit exploitation. As a result, very little
attention was directed towards following up the many higher-grade intervals encountered in those programs (of the 180 historic
holes completed from 2008 - 2012, a total of 60 intercepts returned values of +10 g/t gold (see press release dated April 29,
2019).
At MG, historic drilling was widely spaced with most of the sections having only one drill hole. However, high-grade
mineralization was encountered in drill holes on these sections from surface to vertical depths of 322m below surface. With the
very wide spacing of intercepts, high-grade domains could not be correlated with confidence. As a result, the most recent
resource estimate for Cuiú Cuiú was adversely impacted by top-end cutting (see press release dated June 7, 2018). The Phase
II program was designed to demonstrate the continuity of historic high-grade intercepts (see press release dated February 28,
2019). The objective is to work towards generating a revised resource with better constraints on the high-grade trends.
Phase II Drill Results from MG (Moreira Gomes)
Five diamond drill holes (199-19 to 203-19) were completed at the MG deposit as part of the Phase II drill campaign and were
designed to target three potential zones of high-grade gold mineralization (Figure 1) which had been identified in previous
drilling. All assay results have now been received from these new holes at MG (see Table 1).
Figure 1: Map showing location of recently completed drill holes (199-19, 200-19, 201-19, 202-19 and 203-19) at the MG
deposit at Cuiú Cuiú
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/51635_55cf446084e67a72_002full.jpg
Assay results for hole 199-19 (see press release dated 7
th
November 2019) returned
16.9m
@ 9.5 g/t gold from 82.6m
,
including 7.6m @ 18.5 g/t gold
from 91.9m
. It was designed to test the up-dip continuity of mineralization cut by a 2010 drill
hole, DDH 69-10, which returned 15.8m @ 8.2 g/t gold (including 2.0m @ 53.9 g/t gold) within the centrally located target at MG.
Drill hole 202-19 was drilled 50m west of hole 199-19 within the centrally located high-grade target (Figure 1) and returned
14.2m @ 6.7 g/t gold from 109.4m depth including 5.6m @ 13.0 g/t gold
from 109.4m and 0.9m @ 22.4 g/t gold from
121.3m depth
(Table 1).
The hole was designed to test the up-dip continuity of gold mineralization previously intersected in a
2009 hole (50-09) which returned 35m @ 2.0 g/t gold including 0.5m @ 13.5 g/t and 1.1m @ 6.6g//t gold (see Figure 2). This
follow-up hole suggests the presence of a wide high-grade mineralized zone that is continuous along strike and down-dip.
Hole
Interval
From
To
Interval
Grade
number
m
m
m
g/t
CC_199_19
Upper Mineralized Zone
82.6
99.5
16.9
9.6
including
82.6
91.9
9.3
2.2
including
82.6
83.8
1.2
13.0
including
91.9
99.5
7.6
18.5
including
91.9
92.9
1.0
14.6
including
92.9
93.9
1.0
35.5
including
93.9
94.9
1.0
14.9
including
96.9
98.0
1.1
44.2
including
98.0
99.5
1.5
16.0
Lower Mineralized Zone
110.9
115.9
5.0
1.5
including
110.9
111.9
1.0
5.5
CC_201_19
Mineralized Zone
131.0
138.8
7.8
4.7
including
131.0
131.6
0.6
48.5
CC_202_19
Mineralized Zone
109.4
123.6
14.2
6.7
including
109.4
115.0
5.6
13.0
including
121.3
122.2
0.9
22.4
CC_203_19
Upper Mineralized Zone
13.0
22.3
9.3
0.4
Lower Mineralized Zone
44.5
50.0
5.5
0.6
Table 1: Primary basement mineralization intersected in Phase II drilling program
Hole 200-19 was terminated at 50m depth and was designed to intersect the near surface up-dip expression of the high-grade
intercept in 199-19 but encountered thicker than expected transported overburden.
Hole 201-19 was drilled 350m east of hole 199-19 (Figure 1) in the easternmost high-grade target at MG where previous drilling
had also encountered high-grade gold mineralization. Hole 79-10 intersected 16.8m @ 5g/t gold including 1m @ 56.0 g/t gold.
Hole 201-19 intersected the same high-grade zone approximately 50m up-dip and returned 17.8m @ 2.2g/t gold from 122.6m
depth,
including 7.8m @ 4.7 g/t gold from 131.0m depth
(Table 1), confirming the down-dip continuity of high-grade gold
mineralization in the eastern-most high-grade target (Figure 3).
Hole 203-19 was drilled in the western-most target at MG (Figure 1) to test the up-dip extension of high-grade gold
mineralization (15m @ 16.9 g/t gold) previously returned from hole 53-09. The hole also intersected transported overburden in
the area of the projected up-dip extension of the high-grade zone and returned only low-grade values including 9.3m @ 0.4 g/t
gold from 13m depth and 5.5m @ 0.6 g/t gold from 44.5m depth (Table 1).
Figure 2: Cross-section showing location of holes 50-10 and 202-19 at the central high-grade target at MG
To view an enhanced version of Figure 2 please visit:
https://orders.newsfilecorp.com/files/3900/51635_55cf446084e67a72_003full.jpg
Figure 3: Cross-section showing location of holes 79-10 and 201-19 at the eastern-most high-grade target at MG
To view an enhanced version of Figure 3 please visit:
https://orders.newsfilecorp.com/files/3900/51635_55cf446084e67a72_004full.jpg
Additional drill results from the Phase II drilling program are expected to be released later this month and will include results from
drill holes 204-19 to 206-19, all of which were drilled at the Central deposit and were also designed to follow up historic high-
grade drill intercepts.
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 owns the Cuiú Cuiú gold project 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 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 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. Drilling results are reported as down-hole length weighted
intersections.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/51635