Machichie West Target, Cuiú Cuiú Gold District, Brazil
Cabral Gold Drills 10m @ 3 g/t Gold at the
Machichie West Target, Cuiú Cuiú Gold
District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2024) -
Cabral Gold Inc.
(TSXV: CBR) (OTC
Pink: CBGZF) ("Cabral" or the
"
Company
") is pleased to announce drill results from fifteen initial
reconnaissance RC holes drilled at the Machichie West target within the Cuiú Cuiú gold district.
Highlights
RC439 returned
10m @ 3.00 g/t gold
from 11m depth in weathered saprolite including
5m @
5.37 g/t gold
from 13m depth
RC427 returned
13m @ 1.00 g/t gold
from 19m depth in weathered saprolite, including
2m @
4.80 g/t gold
RC430 returned
8m @ 0.36 g/t gold
from surface in blanket sediments followed by
9m @ 0.27 g/t
gold
in weathered saprolite
.
The hole also intersected
8m @ 0.60 g/t gold
from 26.0m depth
including
1m @ 3.78 g/t gold
in hard rock
These RC results from Machichie West suggest the presence of additional mineralized structures
which have not been previously recognized which could in the near-term provide additional near
surface oxide material for the trial mining and heap leach processing operation which is currently
the subject of the ongoing PFS study
Alan Carter, Cabral's President and CEO commented, "The Machichie West target has never been
previously tested by drilling, but previous trenching produced encouraging results including 96.5m @
0.6 g/t gold and 138m @ 0.5 g/t gold. Following the recent success of near-surface drilling at the
Machichie NE target where RC421 recently returned 11m @ 33 g/t gold, this maiden reconnaissance
drill program at Machichie West was designed to follow up surface trench results and define the near
surface potential for additional oxide resources. The results from hole RC439 look particularly
encouraging and may indicate the presence of another new zone of gold mineralization which extends
to surface. As with recent results from the Machichie Main and Machichie NE zones, these results
indicate the presence of additional near surface gold-in-oxide mineralization in close proximity to the
MG gold deposit."
Machichie West RC Drill Results
The Machichie area occurs 500m north of the MG gold deposit. To date, Cabral has drilled three
mineralized zones at Machichie: Machichie Main, Machichie NE, and Machichie West (Figures 1 and 2).
Machichie West is located immediately west of Machichie Main and approximately 800m west
southwest of Machichie NE where RC421 recently returned
11m @ 33.0 g/t gold
in a new previously
unrecognized high-grade zone of bonanza gold mineralization. Machichie West comprises a 500 x
300m area with numerous NE trending veins in intrusive rocks where previous trenching returned long
low-grade intervals of gold mineralization including
96.5m @ 0.6 g/t gold and 138m @ 0.5 g/t gold
.
Figure 1: Map showing the location of the Machichie West target, the MG and Central gold deposits
and other targets / prospects at Cuiú Cuiú
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/216821_3b51e65c44490988_002full.jpg
The Machichie West target has never been previously drill tested but was recently subject to a series of
reconnaissance drill holes as part of the Company's ongoing RC drill program aimed at identifying near-
surface oxide resources in close proximity to the MG gold deposit that could provide additional feed for
the trial mining / heap leach processing of near surface oxide material which is currently subject to an
ongoing PFS.
The fifteen holes reported here were drilled in three main traverses oriented N-S to NW-SE (Figure 2) in
order to maximise the chances of intersecting what is interpreted from surface trenching to be a series of
NE trending mineralized structures.
Figure 2. Detailed map showing Machichie deposits and MG gold (MG) resource. Base map is Total
Magnetic Intensity Reduced to Pole. RC drill holes in current program are shown in red dots with
specific highlight holes labeled. Black dots are previously existing drill holes. Limit to MG gold-in-
oxide blanket is shown in red. Limits to primary zones of mineralization in underlying bedrock are
shown in yellow
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/216821_3b51e65c44490988_003full.jpg
The results are shown in Table 1. Notable results include RC439 (Figure 3) which was drilled as one of
four holes in the western most traverse. RC439 intersected
10.0m @ 3.0 g/t Au
in saprolite from 11m
depth including
5m @ 5.37 g/t gold
. The intercept remains open at depth and to the west.
An adjacent
hole, RC440, intersected
1m @ 1.19 g/t gold
from surface and
7.0m @ 0.32 g/t Au
. As seen in Figure
3, these intercepts lie nearby trench CT0049 which returned 96.5m @ 0.6 g/t gold including
7.7m @ 5.8
g/t gold
on surface (see press release dated 4th August 2022). Additional drilling is required to fully test
this area.
Figure 3. Cross-section showing drill intercepts in RC0433, RC0439, RC0440 and RC0441 and
previous surface trench results from trench CT0049
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/216821_3b51e65c44490988_004full.jpg
RC430, drilled in a parralel section 100 metres to the northeast of RC439, intersected mulitple zones of
mineralization in colluvium, the underlying saprolite, and the underlying intrusive bedrock.
These
intercepts remains open at depth and to the north (Figure 4).
Figure 4. Cross section showing RC0430, RC0432, RC0435, RC0436 and RC0437
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/216821_3b51e65c44490988_005full.jpg
More than 150 metres to the east of RC430 (Figure 2), RC427 intersected several zones of
mineralization returning 8m @ 0.2 g/t Au in blanket colluvium (0.0 to 8.0m) and
13m @ 1.00 g/t gold
(19.0m to 32.0m) in saprolite, including
2m @ 4.8 g/t gold
(Figure 5). This hole was drilled in an area
where previous trenching (CT0038A) returned 112m @ 0.4 g/t gold including
11m @ 1.2 g/t gold
(see
press release dated 4th August 2022). This intercept may be the down dip extension of the +1g/t gold
zone intersected in trench CT0038A.
The mineralized zone remains open to the east, west, and north, as
well as at depth. Hole RC428 was also drilled on the same section 45m SE of RC427 and cut
1m @
1.30 g/t gold
at the very bottom of the hole indicating the presence of a second mineralized zone on this
section.
Figure 5 - Cross-section showing RC0427 and RC0428 with drill results and earlier trench results from
CT0038A
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/216821_3b51e65c44490988_007full.jpg
Results are currently pending on 5 additional RC holes from Machichie West as well as 5 additional RC
drill holes and 2 diamond drill holes from Machichie NE where follow up drilling is aimed at determining
the size and continuity of the high-grade bonanza zone recently intersected in RC421.
Brian Arkell, Cabral's Vice President Exploration and Technical Services commented: "
The drilling at
Machichie is still widely spaced and there some large gaps, but it appears that Machichie West is the
westward continuation of the major E-W trending structural zone coming out of Machichie Main zone.
Mineralization is still open to the west as well as the east where we have a large gap in drilling between
Machichie West and Machichie Main. The overall Machichie trend has now been defined as over 1.5
kilometres long, and given the proximity to MG, Machichie could provide significant upside to the
overall gold-in-oxide development project
."
Drill Hole
Weathering
Depth
From
to
Width
Grade
#
m
m
m
m
g/t gold
RC0427
Blanket
0.0
8.0
8.0
0.16
Saprolite/Rock
19.0
32.0
13.0
1.00
incl.
24.0
26.0
2.0
4.80
EOH
40.0
RC0428
Blanket
0.0
4.0
4.0
0.12
Rock
46.0
47.0
1.0
1.30
EOH
47.0
Hole ended in 1.3 g/t gold
RC0429
Blanket
0.0
4.0
4.0
0.70
Saprolite
8.0
19.0
11.0
0.69
incl.
8.0.
15.0
7.0
1.02
EOH
25.0
RC0430
Blanket
0.0
8.0
8.0
0.36
Saprolite
incl.
6.0
8.0
2.0
1.11
13.0
22.0
9.0
0.27
Rock
26.0
34.0
8.0
0.60
incl.
32.0
33.0
1.0
3.78
EOH
45.0
RC0431
Saprolite
16.0
22.0
6.0
0.46
EOH
32.0
RC0432
Saprolite
5.0
7.0
2.0
0.28
EOH
32.0
RC0433
Blanket
0.0
6.0
6.0
0.14
Saprolite
13.0
14.0
1.0
0.43
18.0
19.0
1.0
1.17
25.0
26.0
1.0
0.85
EOH
50.0
RC0434
No significant values
EOH
22.0
RC0435
No significant values
EOH
29.0
RC0436
Blanket
0.0
2.0
2.0
0.25
EOH
36.0
RC0437
Blanket
3.0
6.0
3.0
0.29
EOH
40.0
RC0438
Blanket
0.0
5.0
5.0
0.14
Saprolite
12.0
20.0
8.0
0.25
EOH
39.0
RC0439
Blanket/saprolite
11.0
21.0
10.0
3.00
incl.
13.0
18.0
5.0
5.37
EOH
43.0
RC0440
Blanket
0.0
1.0
1.0
1.19
Saprolite
10.0
17.0
7.0
0.32
EOH
42.0
RC0441
No significant values
EOH
48.0
Table 1: Drill results from the Machichie West target regarding holes RC427 to RC441, Terms; g/t =
grams / tonne, m = metres,
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/216821