New Zone of Gold Mineralization Revealed in Initial Trenches on the Eastern Edge of 5km-long Central-Pau de Merenda Target Corridor at Cabral's Cuiú Cuiú
New Zone of Gold Mineralization Revealed in Initial
Trenches on the Eastern Edge of 5km-long Central-Pau
de Merenda Target Corridor at Cabral's Cuiú Cuiú
Vancouver, British Columbia--(Newsfile Corp. - November 19, 2018) -
Cabral Gol
d Inc.
(TSXV:
CBR)
(
"Cabral" or
the
"
Company
"
)
is pleased to announce the identification of Mutum, a new zone of gold mineralization within the Central - Pau de
Merenda mineralized corridor at
the Cuiú Cuiú Project, Pará state, northern Brazil.
Highlight
s
Trenching within the 5km long Central - Pau de Merenda mineralized corridor has revealed a new and previously untested
zone of gold mineralization which has been named Mutum located approximately 1.5km NW of the Central gold resource
and 700m SE of the Pau de Merenda target at Cuiú Cuiú.
Channel sampling of initial trenches at the newly discovered Mutum target returned values of
1.0
g/t Au over
32
m
(
including
7.9
g/t Au over
2.
5m
)
,
and 0.
9
g/t Au over 1
6
.5m, and
0.
9 g
/t
Au
over 2
5.5
m
. The intersections define a
NW trending zone of stockwork mineralization with a strike extent of at least 150m. The zone is open in terms of both width
and strike extent.
Channel sampling of a trench at the Pau de Merenda target returned
4.1 g/t
Au over 15m
including
23.5 g/t Au
over
1.6m
in an area where historic drilling intersected 1.1 g/t Au over 30m and 1.8 g/t Au over 47m. A small pit, and an auger
sample returned values in top-of-saprolite sampling of
18.7 g/t Au and 2.7 g/t Au
, 110 - 220m to the NW respectively.
Mutum
D
iscovery
The Mutum target is located on the eastern side of the NW sector of the 5km-long Pau de Merenda - Central mineralized
corridor. The corridor is defined by an extensive gold-in-saprolite geochemical anomaly outlined by recent auger drilling
[1]
(Figure 1, Figure 2). Auger drilling in this corridor was prioritized in particular to test for extensional targets to the NW and SE of
Cabral's Central Gold Resource (0.5MMoz of gold: 5.9MMt @ 0.9g/t Au in the Indicated category and 8.7MMt @ 1.1g/t Au in the
Inferred category).
Mutum is a previously untested area located approximately 1.5m NW of the Central deposit and approximately 700 m SE of the
Pau de Merenda target. Initial trenching at Mutum has revealed the presence of strong hydrothermal alteration and stockwork
quartz veining in weathered bedrock (saprolite).
Several NE trending trenches were developed over a 150m strike length (Figure 3) and from north to south returned 1.0g/t Au
over 32m, including 7.9g/t Au over 2.5m, 0.9g/t Au over 16.5m and 0.9g/t Au over 25.5m defining a NW trending zone. The zone
is open along strike to the NW and SE, with the higher grade interval of 4.33g/t Au over 5m in the most northerly trench being
open in terms of width. Rock chip samples from sub-cropping veins exposed in artisanal placer workings extending up to ~40m
SW of this last sample position have returned grades of up to
66.3 g/t gold
(Figure 3).
Further trenching and surface sampling is planned to define the surface extent of this new zone.
To view an enhanced version of
Figure 1
, please visit:
https://orders.newsfilecorp.com/files/3900/41143_2adde4099426bbc4_002full.jpg
Figure
1: Location of Pau de
Merenda
in relation to target areas under evaluation for exploration and resource
development in the
Cuiú
Cuiú
Project
area.
To view an enhanced version of
Figure 2
, please visit:
https://orders.newsfilecorp.com/files/3900/41143_2adde4099426bbc4_003full.jpg
Figure
2: Reduced to pole magnetics, showing the location of the Pau de
Merenda
trench result and
Mutum
discovery
in relation to the defined resources and the currently defined extent of the
prospective exploration corridor.
To view an enhanced version of
Figure 3
, please visit:
https://orders.newsfilecorp.com/files/3900/41143_2adde4099426bbc4_004full.jpg
Figure
3:
Mutum
discovery trench results (lower right), and Pau de
Merenda
historical drill results and recent trench
results (left). Trenches are shown in red and pit locations as white points.
Historical drill traces are shown in black.
Pau de
Merenda
Target
The Pau de Merenda target is located to the NW and 2km along strike from the northern limit of the Central gold resource, and
700m from the new Mutum discovery (Figure 2, Figure 3). At Pau de Merenda, a >100ppb gold-in-soil anomaly is centred
around a NW-trending ridge where the recent trench was sited. The ridge has deep residual soil cover, masking the bedrock
exposure, and is flanked by extensive artisanal gold workings in the surrounding drainage systems. The top-of-saprolite auger
and pitting/trenching program were particularly focused at understanding the structural controls on mineralization intersected in
historic drilling.
Trenching was sited near historical drilling at the SE end ridge (Figures 3 and 4), and returned
4.1
g/t over
15m
(with an
interpreted true width of 14.1m)
including
23.5g/t
Au over
1.6m
.
The zone is open in terms of width, with the sample in the NE
end of the trench returning
60.7 g/t gold
over
0.3
m
, and is interpreted to be the up dip extension of the mineralized zone
intersected in diamond drill holes CC_20_07 (1.8 g/t Au over 47.1m), and CC_19_07 (1.1 g/t Au over 30.2m) (Figures 4 and 5).
The residual soil cover proved too deep to allow for further trenching along strike, but the interpreted NW strike extension is
reflected by positive results in pitting, which returned values in top-of-saprolite sampling of 18.7 g/t Au and 2.7 g/t Au, 110 -
220m to the NW respectively.
Alan Carter, President & CEO commented,
"The identification of a new zone of surface gold mineralization within the Central
- Pau de Merenda target corridor is highly significant and lends further credence to our belief that this area will produce
additional resources at
Cuiú
Cuiú
.
The higher grades
from the trenching at the
Pau de
Merenda
target itself
further support
the potential to expand
the
mineralization
at that target and define another deposit
.
I would like to
extend my
congratulat
ions
to
our exploration team in taking
two more important
step
s
in
demonstrating the significant
gold potential of the
Cuiú
Cuiú
project."
To view an enhanced version of
Figure 4
, please visit:
https://orders.newsfilecorp.com/files/3900/41143_2adde4099426bbc4_005full.jpg
Figure
4: Pau de
Merenda
trench and pitting results related to significant historical intersections over RTP magnetics.
2m contour intervals are superimposed. The axis of the
principal structure is marked with the bold dashed line.
To view an enhanced version of
Figure 5
, please visit:
https://orders.newsfilecorp.com/files/3900/41143_2adde4099426bbc4_006full.jpg
Figure
5: Pau de
Merenda
cross section of new trench results and historical drilling.
Marketing
Cabral is pleased to announce the appointment of Sean Kingsley as Manager Corporate Communications.
Mr. Kingsley has
over 12 years of experience within the mineral exploration and mining sector.
The Company wishes to announce that it has also retained Proactive Investors LLC ("Proactive Investors") to assist in creating
video content and editorial articles on the Company's developments.
Proactive Investors is a leading multi-media news
organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt, London and
Vancouver. The agreement has a 12-month term. Proactive Investors have no present interest, direct or indirect, in Cabral or its
securities.
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 2MMoz of gold from the overall 20-30MMoz 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).
Earlier this year, Cabral reported an updated NI 43-101 Mineral Resource Estimate[2] totalling 5.9MM tonnes grading 0.9 g/t Au
(Indicated) and 19.5MM tonnes grading 1.2 g/t Au (Inferred), or 0.2MM ounces and 0.8MM ounces of gold, respectively. That
estimate was based on four deposits drilled prior to the cessation of exploration in 2012.
The Company's current program is designed to improve understanding and expand existing prospects, evaluate newly identified
discoveries, prioritize drill targets, and to build upon the existing resource inventory.
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 ter
m 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
5
0g 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 C
ompany's
exploration office. The samples are couriered to the assay laboratory using a commercial
contractor. Pulps are returned to the Company
and archived
.
Channel sampling is conducted
in the excavations
using a
hand-trenching tool over exposed faces to maintain a
consistent sample.
Under the agreement with the Cuiu Cuiu
condominium, local artisanal operators can process mineralization to a depth of 30m, unless otherwise negotiated.
Historical
d
rilling results are report
ed
as down-hole length weighted intersections
unless otherwise stated
.
[1]
See Cabral Press
Releases dated 5 July 2018
and
27 August 2018
.