Out Hole at the Machichie NE Target, Cuiú Cuiú Gold District, Brazil
Cabral Gold Drills 5m @ 24.5 g/t Gold in Step-
Out Hole at the Machichie NE Target, Cuiú
Cuiú Gold District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2024) -
Cabral Gold Inc. (TSXV: CBR)
(OTC Pink: CBGZF)
("Cabral" or the
"
Company
") is pleased to announce drill results from two
additional diamond-drill holes at the Machichie NE target, and seventeen RC holes targeting the gold-in-
oxide mineralization at the Central gold deposit, Cuiú Cuiú Gold District, Brazil.
Highlights
DDH331 at Machichie NE returned
1m @ 14.2 g/t gold
from 44.5m depth and
5m @ 24.5 g/t
gold
from 82m depth in hard rock including
2m @ 60.5 g/t gold
from 82m depth.
DDH331 is another step-out hole from RC421 which was previously reported and intersected
11m
@ 33.0 g/t gold
including
4m @ 89.3 g/t gold.
Drill hole RC0449 also intersected the same zone
and returned
6m @ 13.3 g/t gold
including
1m @ 77.5 g/t gold
.
The high-grade intercept of 5m @ 24.5 g/t gold in DDH331, together with those previously
reported from RC0421 and RC0449, extend the Machichie NE zone along strike to at least 200m.
The zone remains open in all directions and at depth and trends NW-SE.
RC drilling at Central was primarily conducted outside the current outline of the Central gold-in-
oxide starter pit and is aimed at upgrading Inferred resources to Indicated resources. Results from
recent drilling include 56m @ 0.85 g/t gold in RC0475, 41m @ 0.37 g/t gold in RC0476, 9m @
0.95 g/t gold in RC0462 and 5m @ 1.25 g/t and 12m @ 0.54 g/t gold in RC0465 and 8m @ 0.57
g/t and 7m @ 1.20 g/t gold in RC0474.
Alan Carter, Cabral's President and CEO, commented, "The results from DDH331 suggest the
Machichie NE zone contains significant high-grade gold mineralization and extends for at least 200m
along strike. The mineralized zone, which is open at depth and along strike, is located just 650m north
of the MG gold deposit and only 150m NE of the Machichie Main Zone. These results further support
previous high-grade drill results at Machichie NE, including 11m @ 33 g/t gold and 6m @ 13.3 g/t
gold. These latest drill results continue to suggest that we have made a significant gold discovery at
Machichie NE."
"At the Central gold deposit, the RC drill results from the gold-in-oxide material suggest that much of
the current gold-in-oxide Inferred resources, which were not considered in the recently released
prefeasibility study, could likely be upgraded to Indicated resources. If so, this material may be
included in an updated mine plan for the Central deposit in the coming months and prior to a
construction decision."
Machichie NE Drill Results
The Machichie NE target is one of at least three targets (Machichie West, Machichie Main and
Machichie NE) within the Machichie area which is located approximately 500m north of the E-W trending
MG gold deposit. (Figure 1). None of the Machichie targets currently have defined Indicated resources
due to insufficient drilling, and the recently published 58K oz gold-in-oxide Inferred resource for
Machichie Main Zone (see press release dated 21st October 2024) is for a limited region. It's worth
noting that the mineralization at Machichie Main has been traced for 1.5km along strike in an E-W
direction and is open in all directions and at depth. Previous drill results at Machichie Main include
34m
@ 5.4 g/t, 6.4m @ 11.6 g/t and 45m @ 1.0 g/t gold.
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 discoveries. 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/3900/227979_dc8039a114e08829_002full.jpg
Recent follow-up drilling at Machichie NE intersected a previously untested zone of high-grade gold
mineralization within basement saprolite and fresh basement (see press releases dated 30
th
May 2024
and 25
th
July 2024) with RC0421 returning
11m @ 33.0 g/t gold
from 50m to 61m depth, including
4m
@ 89.3 g/t gold,
and an initial step-out hole (RC0449) returning
6m @ 13.3 g/t gold
including
1m @
77.5 g/t gold
(Figure 2, Figure 3). Diamond drill hole DDH331 was collared 100m to the south-east of
RC0421 and returned
1m @ 14.2 g/t gold
from 44.5m depth and
5m @ 24.5 g/t gold
from 82m depth
in hard rock including
2m @ 60.5 g/t gold
from 82m depth in fresh basement rock (Figure 2, Figure 4,
Table 1).
Figure 2: Map showing Machichie NE target and location of previous drill holes and new drill holes
particularly DDH331 which intersected 11m @ 33g/t gold including 4m @ 89.3 g/t gold. Background is
Total Magnetic Intensity reduced to pole. See Figures 3 and 4 for sections A-A' and B-B'. Terms; g/t =
grams / tonne, m = metres, Au = gold
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/227979_dc8039a114e08829_003full.jpg
Figure 3: NE-SW Section through the Machichie NE target showing the location of RC drill holes
RC421 which cut
11m @ 33.0g/t gold including 4m @ 89.3 g/t gold
and RC449 which cut
6m @
13.3g/t gold including 1m @ 77.5 g/t gold
as well as other previous drill results. Note that the
mineralized zone remains open in all directions and at depth. 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/3900/227979_dc8039a114e08829_004full.jpg
Figure 4: NE-SW Section through the Machichie NE target showing the location of diamond drill hole
DDH331 which cut
5m @ 24.5g/t gold including 2m @ 60.5 g/t gold
and previous drill results. Note
that the mineralized zone remains open in all directions and at depth. 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/3900/227979_dc8039a114e08829_005full.jpg
A second diamond drill hole, DDH322 was drilled 30m to the south-east of RC421 and in a north-west
direction parallel to what is now known to be the trend of the mineralized zone. As a result, it failed to
intersect the mineralized zone in the primary basement material but the hole did however cut 8m @ 0.30
g/t gold in blanket sediments.
The second drill intercept in DDH331 is believed to be the same zone of high-grade mineralization
intersected in RC421 and RC449 and suggests that the mineralized zone at Machichie NE trends NW-
SE and extends for at least 200m. The zone remains open at depth and along strike. The NW trend of
the mineralized zone at Machichie NE is the same orientation as the Central gold deposit and the
Central - PDM trend.
Drill hole
Weathering
From
to
Width
Grade
m
m
m
g/t gold
DDH322
Blanket
5.0
13.0
8.0
0.30
EOH
74.1
DDH331
Rock
44.5
45.5
1.0
14.20
69.5
70.0
0.5
0.65
82.0
87.0
5.0
24.50
incl
82.0
84.0
2.0
60.50
89.8
90.8
1.0
0.43
EOH
120.0
Table 1: Drill results from diamond drill holes DDH322 and DDH331 at Machichie NE
Central RC Drill Results
Results have also been received from 17 RC drill holes which form part of the ongoing drill program
aimed at upgrading significant Inferred gold-in-oxide resources at the Central gold deposit to Indicated
resources. Most of these holes were drilled over the northern part of the Central gold deposit (Figure 5)
and of the 17 holes reported here, 14 are outside the current pit shell that was used in the recent PFS
study to mine the gold-in-oxide mineralization (see press release dated 21
st
October 2024).
Significant results from holes drilled outside the current pit shell include
56m @ 0.85 g/t gold
in
RC0475,
41m @ 0.37 g/t gold
in RC0476,
9m @ 0.95 g/t gold
in RC0462 and
5m @ 1.25 g/t and
12m @ 0.54 g/t gold
in RC0465 and
8m @ 0.57 g/t and 7m @ 1.20 g/t gold
in RC0474,
24m @ 0.34
g/t gold
in RC0464 (Figure 5).
The complete set of drill results are shown in Table 2.
Figure 5: Map of Central area showing RTP magnetic data (note magnetic low which is coincident with
gold deposit) and location of recent RC drill holes targeting gold-in-oxide mineralization outside
current pit shell used in recent PFS (see press release dated 21
st
October 2024). Note significant
gold-in-oxide results outside current pit. Background is Total Magnetic Intensity RTP. Terms; g/t =
grams / tonne, m = metres, Au = gold
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/227979_dc8039a114e08829_006full.jpg
The Central gold deposit includes a significant gold-in-oxide Inferred resource and these recent drill
results suggest that a significant portion of these Inferred resources could be converted to Indicated
resources during the coming months. These ultimately could be included in an updated mine plan for the
gold-in-oxide material at Central. Drilling is ongoing at Central with additional results expected in the
near future.
Drill hole
Weathering
From
to
Width
Grade
m
m
m
g/t gold
RC0462
Saprolite
40.0
49.0
9.0
0.95
incl.
40.0
41.0
1.0
3.50
EOH
87.0
RC0463
Saprolite
0.0
13.0
13.0
0.32
Rock
71.0
79.0
8.0
0.43
EOH
88.0
RC0464
Saprolite
0.0
24.0
24.0
0.34
EOH
78.0
RC0465
Saprolite
5.0
10.0
5.0
1.25
24.0
36.0
12.0
0.54
47.0
51.0
4.0
0.60
EOH
76.0
RC0466
Blanket/Saprolite
0.0
7.0
7.0
0.33
Rock
24.0
32.0
8.0
0.32
55.0
59.0
4.0
0.39
EOH
84.0
RC0469
Blanket
0.0
4.0
4.0
0.31
Saprolite
19.0
26.0
7.0
0.26
29.0
36.0
7.0
0.39
43.0
47.0
4.0
0.38
EOH
71.0
RC0470
Saprolite
0.0
7.0
7.0
0.58
11.0
31.0
20.0
0.39
Rock
37.0
47.0
10.0
0.53
EOH
73.0
RC0471
Blanket
0.0
N.S.V.
EOH
65.0
RC0472
Blanket/Saprolite
0.0
37.0
37.0
0.30
incl.
35.0
37.0
3.0
1.31
EOH
81.0
RC0473
Blanket/Saprolite
0.0
31.0
31.0
0.31
incl.
1.0
6.0
5.0
0.97
EOH
86.0
RC0474
Blanket
0.0
8.0
8.0
0.57
Saprolite
16.0
23.0
7.0
1.2
EOH
57.0
RC0475
Saprolite/Rock
0.0
56.0
56.0
0.85
EOH
56.0
RC0476
Soil/Saprolite
0.0
41.0
41.0
0.37
EOH
76.0
RC0477
Soil/Saprolite
0.0
7.0
7.0
0.35
EOH
48.0
RC0478
Blanket
0.0
4.0
4.0
0.5
EOH
54.0
RC0479
Saprolite
16.0
44.0
28.0
0.45
incl.
39.0
40.0
1.0
1.37
EOH
44.0
RC0480
Blanket
0.0
1.0
1.0
0.89
EOH
44.0
Table 2: Drill results from RC drill holes RC462 to RC466 and RC469 to RC480 at Central
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/227979