Oxidized Material from Near-Surface at Central
Cabral Gold Drills 23m @ 1.0 g/t Gold in
Oxidized Material from Near-Surface at Central
and 19m @ 1.3 g/t Gold at MG
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2024) -
Cabral Gold Inc. (TSXV: CBR)
(OTC PINK: CBGZF)
("Cabral" or the
"
Company
") is pleased to announce assay results from an
additional 13 RC holes testing near-surface oxide material at the Central gold deposit, and nine shallow
auger holes from the MG gold deposit, Cuiú Cuiú gold district in northern Brazil. These holes are part of
a drill program designed to expand and upgrade the oxide resources at both the Central and MG gold
deposits.
Highlights
RC390 returned
23m @ 1.0 g/t gold
from 5m depth in mineralized basement saprolite
RC391 returned
13m @ 1.4 g/t gold
from 51m depth in mineralized basement saprolite. The hole
also intersected
4m @ 1.2 g/t gold
from 40m depth
Eleven of the 13 RC holes returned gold values within the weathered material at Central which
comprises overlying sediments that form a blanket that is underlain by weathered granitic material
or saprolite. Other notable drill results include
3m @ 2.5 g/t gold
from 25m depth and
5m @ 1.9
g/t gold
from 61m depth in RC387
Eight of the nine shallow auger holes drilled at the MG gold deposit returned gold values well
above the cut-off grade of 0.14 g/t gold, with TR665 returning
19m @ 1.3 g/t gold
from surface
including
2m @ 8.0 g/t gold
Alan Carter, Cabral's President and CEO commented, "These additional results from the RC drilling
at Central and the auger drilling at MG build on earlier drill results that show the widespread presence
of gold in the near-surface blanket sedimentary material and the underlying weathered basement
rocks or saprolite at concentrations well above the cut-off grade of 0.14 g/t gold which was applied to
the most recent resource estimate of July 2022 for this oxide material."
Central RC Drill Results
The Central gold deposit is one of the two main gold deposits identified to date at Cuiú Cuiú. As with the
nearby MG gold deposit, the upper portion of the Central gold deposit is extensively weathered resulting
in a vertical profile of highly weathered basement saprolite averaging approximately 60m. The
weathered mineralized basement saprolite is overlain by sediments which form a blanket. The blanket
material contains gold and is derived from the chemical and physical weathering of the underlying
saprolite basement gold mineralization.
Whilst the bulk of the gold resources at Central are contained within the underlying primary (un-
weathered) basement material (see the NI 43-101 report dated effective July 31, 2022), the overlying
oxide material currently contains Indicated Resources of 3.49Mt @ 0.6 g/t gold (65,400oz) and Inferred
Resources of 3.36Mt @ 0.4 g/t gold (44,800oz). A significant amount of higher-grade material (greater
than 1.75g/t gold) is contained within these resources and the current drill program at Central and MG is
designed to expand and delimit these resources within the near-surface saprolite and blanket material.
Cut-off grades of 0.14 g/t gold and 0.26 g/t gold were used for the 2022 open pit resource estimate for
blanket/saprolite and fresh-rock mineralization, respectively.
Holes RC386 to RC398 were all drilled within the overall outline of the oxide resource at Central to a
maximum depth of 90m (Figure 1).
Figure 1: Map showing Central gold deposit with limits to oxide blanket and underlying mineralized
zones in weathered basement saprolite, existing RC and diamond-drill holes and new drill holes,
RC386 to RC398 with results. Previous RC holes are also shown with significant results. Terms; g/t =
grams / tonne, m = metres
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/198880_d7d21c2a94cb8846_002full.jpg
Section N21095
RC390 was designed to test the north eastern part of this section. Drill results from adjacent sections at
Central, for example RC384 which was drilled on section N21198, 100m further north and returned
23m
@ 0.9 g/t gold
, suggested the presence of gold mineralization in the overlying blanket sediments and
primary saprolite material in this area (see press release dated January 11, 2024).
RC390 returned
23m @ 1.0 g/t gold
from 5m depth in saprolite, and encountered 3m @ 0.6 g/t gold
from surface in the unconformably overlying blanket. This saprolite intercept is interpreted to be the same
mineralized zone that was intersected by hole RC384 drilled 100m further north.
Figure 2: Section N21095 through the Central gold deposit showing the near surface gold-in-oxide
saprolite layer and overlying blanket sediments assay results for drill hole RC390 and previous RC
drill holes. Terms; g/t = grams / tonne, m = metres, ppm = parts per million or grams / tonne
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/198880_d7d21c2a94cb8846_003full.jpg
Section N20845
Hole RC391 was drilled on section N20845 in the southern part of the Central gold deposit. Previous
drilling on this section returned remarkably consistent gold values in the overlying blanket soils and
sediments of 0.6 to 0.7 g/t gold, for example
18.3m @ 0.7 g/t gold
from surface in DDH265 (Figures 1
and 3, Table 1).
RC391 returned
13m @ 1.4 g/t gold
from 51m depth. This is interpreted to be the same mineralized
zone that was intersected by hole DDH267 which returned
12.8m @ 1.0 g/t gold
within unweathered
primary basement granitic rocks, and indicates the presence of gold values of +1 g/t in saprolite on this
section. These grades are significantly better than grades obtained from other holes that tested the
saprolite on this section.
There was no material recovered by drilling in the top 14m of the hole but that interval is expected to be
mineralized based on results from adjacent holes, i.e. DDH265 and DDH266 which returned
18.3m @
0.7 g/t gold
and
12m @ 0.7 g/t gold
from surface, respectively.
Figure 3: Section N20845 through the Central gold deposit showing the near surface gold-in-oxide
saprolite layer and overlying blanket sediments assay results for RC drill hole RC391 and previous
diamond drill holes. Terms; g/t = grams / tonne, m = metres, ppm = parts per million or grams / tonne
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/198880_d7d21c2a94cb8846_004full.jpg
Drill Hole
Weathering
From
To
Width
Grade
#
m
m
m
g/t gold
RC0386
Blanket
0.0
3.0
3.0
0.72
EOH
49.0
RC0387
1
Blanket
0.0
2.0
2.0
0.46
Saprolite
25.0
28.0
3.0
2.51
Fresh Rock
61.0
66.0
5.0
1.92
EOH
66.0
RC0388
Blanket
N.S.V.
EOH
69.0
RC0389
Saprolite
61.0
69.0
8.0
0.68
EOH
76.0
RC0390
Blanket
0.0
3.0
3.0
0.61
Saprolite
5.0
28.0
23.0
1.05
EOH
54.0
RC0391
2
Saprolite
25.0
27.0
2.0
0.52
40.0
44.0
4.0
1.18
51.0
64.0
13.0
1.37
EOH
74.0
RC0392
3
Blanket
0.0
4.0
4.0
0.71
EOH
60.0
RC0393
Blanket
0.0
N.S.V.
EOH
90.0
RC0394
Saprolite
17.0
19.0
2.0
2.85
41.0
47.0
6.0
0.44
70.0
73.0
3.0
1.19
EOH
77.0
RC0395
Blanket
0.0
5.0
5.0
0.27
EOH
70.0
RC0396
Saprolite
8.0
10.0
2.0
2.13
EOH
86.0
RC0397
Blanket
0.0
6.0
6.0
0.57
EOH
66.0
RC0398
Saprolite
10.0
12.0
2.0
1.08
EOH
55.0
Table 1: Drill results from near surface Central gold-in-oxide blanket / saprolite zone regarding holes
RC386 to RC398.
1
No recovery in RC387 from 2-4m, 5-9m, 11-12m and 13-14m.
2
No recovery in RC391 from 0-14m.
3
No recovery in RC392 from 4-22m. Terms; g/t = grams / tonne, m = metres, N.S.V. = no significant values
MG Auger Drill Results
The MG gold deposit is the second of the two main gold deposits that have been identified to date at
Cuiú Cuiú. As with the nearby Central gold deposit, the upper portion of the MG gold deposit is
extensively weathered resulting in a vertical profile of approximately 60m of highly weathered basement
saprolite. The weathered mineralized basement saprolite is overlain by mud, soil and colluvium material
which forms a blanket. All of the blanket material contains gold and is derived from the chemical and
physical weathering of the underlying saprolite basement gold mineralization.
Whilst the bulk of the gold resources at MG are contained within the underlying primary (unweathered)
basement material (see the NI 43-101 report dated effective July 31, 2022), the overlying oxide material
currently contains Indicated Resources of 5.78Mt @ 0.5 g/t for 88,300oz, and Inferred Resources of
1.19Mt @ 0.3 g/t for 12,300oz. A significant amount of higher-grade material (greater than 1.75g/t gold)
is contained within these resources and the recent RC and auger drill program at MG is designed to
expand these resources within the near-surface saprolite and blanket material.
Recent RC drill results from MG reported as part of the current program have returned some very
significant results in the oxidized near-surface blanket sediments and underlying saprolite including hole
RC343 which returned
27m @ 1.9 g/t gold
from surface, RC342 which returned
28m @ 1.8 g/t gold
from surface, RC375 which returned
20m @ 1.6 g/t gold
from surface including
9m @ 1.7 g/t gold
and
RC376 which returned
15m @ 1.8 g/t gold
from 5m depth (see press releases dated October 12, 2023
and November 29, 2023).
Nine auger holes are reported here with results from TR657 to TR665 (See Table 2 and Figures 4 and
5).
Figure 4. Map showing MG gold deposit with limits to oxide blanket and underlying mineralized zones
in weathered basement saprolite with results from auger holes TR658 to TR665. Terms; g/t = grams /
tonne, m = metres
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/198880_d7d21c2a94cb8846_005full.jpg
Section 553500
Auger hole TR665 was drilled on section 553500 (Figures 4 and 5, Table 2). Previous diamond and RC
drilling on this section had outlined an area of consistent mineralization in the blanket sediments in the
order of 0.5 g/t gold, for example, RC315 returned
46m @ 0.5 g/t gold
and RC134 which returned
26m
@ 0.5 g/t gold
).
TR665 was drilled further to the north-east and returned significantly higher gold values than expected
including
19m @ 1.3 g/t gold
from surface including
2m @ 8.0 g/t gold
from 10m depth.
The hole
ended in mineralization. These results suggest the presence of a zone of higher-grade gold
mineralization than previously anticipated on this section in the near-surface blanket sediments.
Figure 5: Section 553500 through the MG gold deposit showing the near surface gold-in-oxide
saprolite layer and assay results for recent auger hole TR665, as well as results for previous RC and
diamond drill holes. Terms; g/t = grams / tonne, m = metres, ppm = parts per million or grams / tonne
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/198880_d7d21c2a94cb8846_006full.jpg
Drill Hole
Weathering
From
To
Width
Grade
#
m
m
m
g/t gold
TR0657
Blanket/Saprolite
0.0
N.S.V.
EOH
20.0
TR0658
Blanket/Saprolite
8.0
16.0
8.0
0.49
EOH
17.0
TR0659
Blanket/Saprolite
2.0
18.0
16.0
0.37
EOH
18.0
TR0660
Blanket/Saprolite
3.0
19.0
16.0
0.36
EOH
19.0
TR0661
Blanket/Saprolite
8.0
16.0
8.0
0.32
EOH
20.0
TR0662
Blanket/Saprolite
8.0
18.0
10.0
0.49
EOH
18.0
TR0663
Blanket/Saprolite
0.0
20.0
20.0
0.34
EOH
20.0
TR0664
Blanket/Saprolite
0.0
20.0
20.0
0.31
EOH
20.0
TR0665
Blanket/Saprolite
0.0
19.0
19.0
1.26
incl
10.0
12.0
2.0
7.95
EOH
19.0
Table 2: Auger drill results from near surface MG gold-in-oxide blanket / saprolite zone regarding
holes TR658 to TR665.
Terms; g/t = grams / tonne, m = metres, N.S.V. = no significant values
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
Guillermo Hughes, MAusIMM and FAIG., 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. 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.