Identifies a New High-Grade Zone at the MG Gold Deposit within the Cuiú Cuiú District, Brazil
Cabral Gold Drills 2.1m @ 29.4 g/t gold and
Identifies a New High-Grade Zone at the MG
Gold Deposit within the Cuiú Cuiú District,
Brazil
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2021) -
Cabral Gold Inc. ("Cabral" or the
"
Company
")
(TSXV: CBR) (OTC PINK: CBGZF)
is pleased to provide assay results from the initial
two diamond drill holes at the MG gold deposit within the Cuiú Cuiú gold
district in northern Brazil. These
initial holes form part of a 5,000m diamond drill program, which in turn is part of a larger ongoing
25,000m drill program.
Highlights are as follows:
The first diamond drill hole (208-21) completed at MG returned
2.1m @ 29.4 g/t gold
including
0.5m @ 120.6 g/t gold
and indicates the presence of a parallel high-grade zone which is located
75m south of the main MG deposit.
This zone was not separately wireframed and was cut to a maximum of 2.0 g/t gold in the 2018
resource estimate completed by Micon International Limited ("Micon"). The zone appears to
continue down-dip and dips steeply to the north. It has been named the 104 Zone
Results from the second diamond drill hole (209-12) at MG suggest the presence of an extensive
gold-in-oxide blanket up to 48m thick averaging 0.5g/t gold and covering an area of approximately
500m x 400m
Alan Carter, Cabral's President and CEO commented,
"The initial diamond drill results from MG are
highly encouraging and indicate the presence of a parallel high-grade zone 75m south of the main
MG deposit, which also contains considerable high-grade mineralization. A historic high-grade drill
hole in this zone intersected 2m @ 70.2g/t gold which was cut to a maximum of 2g/t gold as part of the
2018 resource estimate. The current drill program will allow us to further define the extent of this new
high-grade 104 Zone. These new drill results suggest we have a significant high-grade zone parallel to
the main deposit at MG which could contain a significant amount of gold. It also appears that the MG
deposit is covered by a large low-grade oxide gold blanket which was also not previously included in
the historic resource estimate and could add significant ounces to the MG resource".
MG Infill Diamond Drilling
Assay results were returned on the initial two diamond drill holes (208-21 and 209-21) completed at MG
as part of the infill drilling program designed to define the limits to the high-grade zones within the
existing MG and Central deposits at Cuiú Cuiú.
Diamond drill hole 208-21 was designed to test the up-dip continuity of an isolated historic drill intercept
(drill hole 104-10) which intersected
2m @ 70.2 g/t gold including 0.5m @ 264.9 g/t gold
(Figure 1).
This historic intercept was included in the 2018 resource estimate completed by Micon but was cut to a
maximum of 2.0 g/t gold. As a result, all of the high-grade gold mineralization intersected in the drilling
was cut to this value and not treated as high-grade material for the purpose of the resource estimate.
Hole 208-21 was drilled to intersect the zone above the previous intercept and provide a dip on the zone.
It returned
2.1m @ 29.4 g/t gold
from 90.3m depth,
including 0.5m @ 120.6 g/t gold
suggesting that
the zone dips steeply to the north (Figure 2).
Figure 1: Map showing the location of drill holes at the MG gold deposit and the location of high-grade
zones (ellipses) which are being targeted as part of the current drill program. Results from holes 208-
21 and 209-21 are shown in yellow.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/80529_476f4d87d4e0fabb_002full.jpg
Figure 2: Cross-section through the MG gold deposit and the parallel 104 zone showing recent drill
results from holes 208-21 and 209-21 are new. Assay results from 210-21 and 211-21 are pending
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/80529_476f4d87d4e0fabb_003full.jpg
Hole 209-21 intersected the down-dip extension of the same zone at depth and returned
6m @ 1.3 g/t
gold
from 159m depth. Hole 209-21 also intersected two narrower zones of mineralization including
1.6m @ 2.6 g/t gold from 77.7m depth and 0.5m @ 1.3 g/t gold from 98m depth further up the hole
indicating the presence of narrower zones between the MG deposit and the 104 Zone.
Hole 209-21 also intersected
63m @ 0.5 g/t gold
from surface suggesting the presence of an extensive
thick oxide-gold blanket in saprolite and recent cover sediments at MG. This is supported by the fact that
numerous other drill holes at MG have also intersected oxide gold values in oxidized material above the
main hard rock deposit at MG, notably holes 46 (23m @ 0.93 g/t), 47 (15.3m @ 0.47 g/t), 51 (26.8m @
0.46 g/t) and 66 (19.9m @ 0.46 g/t). This blanket has almost certainly resulted from erosion of the
mineralized rocks at MG over millions of years and the dispersion of gold in near surface soils,
sediments and saprolite material.
Whilst further drilling of this oxide blanket at MG is needed, drilling to date suggests that the blanket
could extend up to 200m north and south of the margins of the MG deposit and appears to cover an area
of approximately 500m x 400m. The identification of this oxide blanket could result in the addition of
significant ounces of low-grade oxidized surface material at MG, in an area which was previously
assumed to be barren in the 2018 resource estimate.
Results on five additional diamond drill holes recently completed at MG are pending, as well as several
RC holes at the JM, JN, Hamilton Novo and Maranhao West targets.
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 garimpo 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
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. Drill holes results are quoted as down-hole length weighted
intersections.
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