Machichie NE Target, Cuiú Cuiú Gold District, Brazil
Cabral Gold Drills 11m @ 33.0 g/t gold at the
Machichie NE Target, Cuiú Cuiú Gold District,
Brazil
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) -
Cabral Gold Inc. (TSXV: CBR) (OTC
Pink: CBGZF) ("Cabral" or the "Company")
is pleased to announce drill results from five RC holes
drilled at the Machichie Main and Machichie NE targets, Cuiú Cuiú Gold District, Brazil.
Highlights
RC421 drilled at the Machichie NE target returned
11m @ 33.0 g/t gold
from 50m depth in
saprolite and weathered and altered bedrock including
4m @ 89.3 g/t gold
from 52m depth.
RC420 drilled at the Machichie Main zone returned
25m @ 2.9 g/t gold
from surface in weathered
saprolite, including
12m @ 5.5 g/t gold.
RC422 also drilled at Machichie NE returned
21m @ 1.3 g/t gold
from surface in saprolite
including
3m @ 7.5 g/t gold,
and 13m @ 0.5 g/t gold from 36m depth, also in saprolite.
These RC results from Machichie NE confirm the presence of another E-W trending mineralized
structure 150m north of the Machichie Main zone discovery where very limited previous drilling
returned gold intercepts including
34m @ 5.4 g/t gold
. Machichie Main and Machichie NE are
located 500m and 650m, respectively, north of the MG gold deposit.
Alan Carter, Cabral Gold's President and CEO commented, "The assay results from RC421 at the
Machichie NE target are amongst the top three drill holes ever drilled at Cuiú Cuiú and are the best
results drilled to date outside of the known Central and MG gold deposits. The Machichie NE target is
located immediately north of the Machichie Main zone discovery and the MG gold deposit all of which
contain high-grade E-W trending mineralized structures. The extent of the mineralized structures at
both Machichie NE and Machichie Main still need to be determined. These results not only have very
positive implications for the presence of additional near surface gold-in-oxide resources at Cuiú Cuiú,
but also suggest the presence of significant zones of high-grade mineralization in primary bedrock
underlying the weathered material. Further drilling is in progress and is aimed at determining the size
of both the Machichie Main zone and the more recent Machichie NE discovery."
Brian Arkell, Cabral Gold's Vice President Exploration and Technical Services, commented, "The
Machichie area continues to return very encouraging results especially in the NE where we are
encountering higher grades in major structural breaks. These are some of the highest grades
encountered to date on the property and illustrate the significant exploration potential, not only
laterally and at depth, but also within newly defined sub-parallel structural zones. Results thus far at
Machichie demonstrate significant potential to add resources and higher-grade material to our oxide
project, especially given the proximity of the Machichie NE and Machichie Main zones to the MG gold
deposit. Further results are expected in the coming weeks as we continue to prioritize drilling for
extensions where mineralization remains open to both the west and east."
Machichie RC Drill Results
Cabral Gold recently announced (see press release dated May 9, 2024) an extended drilling program
following the receipt of successful results in the latest round of drilling at Central and MG where the
Company is completing a pre-feasibility study on a heap leach oxide project. The current drilling program
has focused on the Machichie target area (Figure 1).
Figure 1 Map showing location of known gold deposits; Central, MG and JB (in blue) at Cuiu Cuiu, as
well as the location of the Machichie Main zone and Machichie NE targets. The PDM discovery,
located 1.5km NW of Central, is also shown, as well as the main exploration targets (yellow dots) and
distribution of historic placer gold workings (pale yellow outlines).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/211093_27e47f97d434989f_002full.jpg
Cabral has defined at least three zones of gold mineralization within the Machichie target area:
Machichie Main, Machichie West and Machichie NE (Figure 2). These targets occur along major
structural breaks parallel to, and immediately north of the MG gold deposit.
The Machichie NE target is located 150m north of the Machichie Main zone discovery (Figure 2) and
650m north of the MG gold deposit. While drilling remains in progress, results to date have been
extremely encouraging.
Drill hole RC421 intersected a high-grade zone of
11m @ 33.0 g/t gold
from 50m to 61m depth,
including
4m @ 89.3 g/t gold
. The top part of this interval, from 50m to 53m, is in saprolite and
moderately weathered bedrock, whereas the main intercept is in primary bedrock (see Table 1, Figures
2 and 3). This appears to represent a previously unrecognized zone of high-grade gold mineralization at
Machichie NE which is open at depth and to the east and west.
This hole is particularly interesting in that it is one of the highest-grade intercepts to date at the Cuiú Cuiú
project. Further drilling along strike and at depth is planned.
Figure 2: Map showing Machichie target area and location of the Machichie NE, Machichie Main
(Machichie) and Machichie West targets, none of which currently have any defined resources. Map
shows location of previous drill holes and holes drilled to date as part of current drilling program. Also
shown are the location of historic placer workings (pale yellow) and the mineralized zones outlined to
date. See Figures 3 and 4 for sections B-B' and A-A'. Terms; g/t = grams / tonne, m = metres, Au =
gold
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/211093_27e47f97d434989f_003full.jpg
Drill hole RC422, also at Machichie NE, intersected
21m @ 1.3 g/t gold
from surface. Surficial material
is likely colluvium whereas the higher-grade interval of
3m @ 7.5 g/t gold
is in saprolite. This hole was
drilled in the eastern part of Machichie NE where the mineralization remains open (see Table 1 and
Figure 2).
Most of the previous diamond drilling at Machichie focused on the Machichie Main zone and has
identified a persistent mineralized zone which is east-trending and dips steeply to the north and is
believed to extend E-W for at least 900m. Previous drilling at the Machichie Main zone discovery has
intersected gold values up to
34m @ 5.4 g/t gold
in saprolite. In the recent drilling, RC420 returned
25m
@ 2.9 g/t gold
from surface in colluvium and saprolite. This included a higher-grade zone of
12m @ 5.5
g/t gold
from 11m to 23m depth (See Table 1, Figures 2 and 4).
RC420 is located 175m east of hole RC310 which previously returned
5m @ 27.6 g/t
gold (see press
release dated October 24, 2022), and 235m east of DDH303 which previously returned
6.4m @ 11.6 g/t
gold (see press release dated August 25, 2022) indicating the E-W persistence of a higher-grade
mineralized zone for at least 235m at the Machichie Main zone. This zone remains open both to the east
and west and will require further drilling.
Figure 3: Section B-B' (N-S) through the Machichie Main (to the south) and Machichie NE targets
showing the location of hole RC421 which cut
11m @ 33g/t gold including 42m @ 89.3 g/t gold
. Note
that the mineralized zone remains open at depth. It is also open along strike. See Figure 1 for location
of section. Terms; g/t = grams / tonne, m = metres, ppm = parts per million or grams / tonne, Au = gold
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/211093_27e47f97d434989f_004full.jpg
Figure 4: Section A-A' (N-S) through the Machichie Main (to the south) and Machichie NE targets
showing the location of hole RC420 which cut
25m @ 2.9g/t gold including 12m @ 5.5 g/t gold
. Note
that the mineralized zone remains open at depth. It is also open along strike. See Figure 1 for location
of section. Terms; g/t = grams / tonne, m = metres, ppm = parts per million or grams / tonne, Au = gold
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/211093_27e47f97d434989f_005full.jpg
Table 1 summarizes the important drill intercepts reported in this press release. Cabral is currently
drilling at the Machichie West target with one RC drill rig. A diamond drill rig is also on-site drilling for
metallurgical and geological information.
Drill Hole
#
Weathering Zone
From
m
To
m
Width
m
Grade
g/t gold
RC0420
Blanket/Saprolite
0.0
25.0
25.0
2.9
incl.
11.0
23.0
12.0
5.5
EOH
48.0
RC0421
Blanket/Saprolite
29.0
34.0
5.0
0.4
Saprolite/Bedrock
50.0
61.0
11.0
33.0
incl.
52.0
56.0
4.0
89.3
EOH
63.0
RC0422
Blanket/Saprolite
0.0
21.0
21.0
1.3
incl.
2.0
14.0
12.0
2.1
Incl.
10.0
13.0
3.0
7.5
36.0
49.0
13.0
0.5
EOH
60.0
RC0423
Blanket
1.0
8.0
7.0
0.5
EOH
52.0
RC0425
Saprolite
17.0
25.0
8.0
0.4
55.0
56.0
1.0
1.7
EOH
56.0
Table 1: Drill results from RC drill holes RC420 to RC423 and RC425 at the Machichie NE and Machichie Main zone 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 main gold deposits have so far been defined at the Cuiú Cuiú project which contains
National Instrument 43-101 compliant Indicated resources of 21.6Mt @ 0.87 g/t gold (604,000 oz) and
Inferred resources of 19.8Mt @ 0.84 g/t gold (534,500 oz) as per the 43-101 technical report dated
October 12, 2022.
The Tapajós Gold Province is the site of the largest gold rush in Brazil's history which according to the
ANM (Agência Nacional de Mineração or National Mining Agency of Brazil) produced 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
Technical information included in this release was supervised and approved by Brian Arkell, B.S.
Geology and M.S. Economic Geology, SME (Registered Member), AusIMM (Fellow) and SEG
(Fellow), Cabral Gold's Vice President, Exploration and Technical Services, and a Qualified Person
under NI 43-101.
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. 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/211093