Surface Oxidized Material from the Machichie Gold Discovery, Cuiú Cuiú Gold District, Brazil
Cabral Gold Drills 23m @ 1.1 g/t gold in Near-
Surface Oxidized Material from the Machichie
Gold Discovery, Cuiú Cuiú Gold District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - January 25, 2024) -
Cabral Gold Inc. (TSXV: CBR)
(OTC Pink: CBGZF)
("Cabral" or the
"
Company
"
)
is pleased to announce drill results from an initial
nine RC holes testing the near-surface oxide material at the Machichie gold discovery, Cuiú Cuiú gold
district in northern Brazil. These holes are part of a drill program to better define the gold-in-oxide
mineralization at the Machichie target, which is located 500m northwest of the MG gold deposit, and
could have an impact on the current plans for trial-mining of the oxide material.
Highlights
RC399 returned
23m @ 1.1 g/t gold
from surface in mineralized saprolite.
RC402 returned
23m @ 0.5 g/t gold
from surface in mineralized saprolite, including
1m @ 6.6 g/t
gold
from 9m downhole. The hole also intersected
7m @ 2.5 g/t gold
from 30m downhole in
mineralized saprolite. Hole RC403 drilled on the same section returned
13m @ 0.4 g/t gold
from
surface in mineralized saprolite.
RC407 drilled returned
10m @ 0.6 g/t gold
from surface in mineralized saprolite.
Drill results are pending on an additional 13 RC holes from Central and nine shallow power-auger
holes at MG as well as 12 RC holes from the Machichie target.
Alan Carter, Cabral's President and CEO, commented, "These initial RC drill results from the
Machichie target at Cuiú Cuiú lend further credence to our belief that a significant zone of near
surface gold-in-oxide mineralization overlies the Machichie gold discovery located just 500m
northwest of the MG gold deposit. Neither the underlying hard-rock discovery or the weathered gold-in-
oxide mineralized material at Machichie yet comprise a resource as both zones require additional
drilling. However, this initial batch of RC drill results from Machichie suggests the presence of
additional gold-in-oxide mineralization within close proximity to the existing MG gold deposit, which
obviously has significant implications for the ongoing PFS aimed at trial mining and heap-leach
processing of the near surface gold-in-oxide resources at Cuiú Cuiú."
Machichie RC Drill Results
The Machichie target is located 500m northwest of the MG gold deposit. Previous diamond drilling at the
Machichie Main zone identified a persistent mineralized zone which is east-trending and dips steeply to
the north. This main zone consists of parallel high-grade core zones surrounded by a low-grade
alteration envelope and is believed to extend E-W for at least 900m (see press release dated October
24, 2022). The discovery is similar in style to the bedrock gold deposits at MG and Central as well as the
PDM basement discovery.
As with Central, MG and PDM, the upper portion of the mineralized zone at Machichie has weathered
over millions of years creating a layer of soil and saprolite (weathered bedrock) which also appears to
contain gold. Whilst previous diamond drilling has largely been focused on the underlying hard rock
potential at Machichie, several previous holes indicate the presence of gold-in-oxide weathered material
above the primary basement mineralization.
The current RC drill program at Machichie is designed to identify and better define higher-grade zones
within the gold-in-oxide material that could add to the current gold-in-oxide resource at Cuiú Cuiú and
could have an impact on plans for trial mining.
Figure 1: Map showing Machichie gold discovery with interpreted outlines of mineralized zones
identified to date. Recent RC drill results (RC399 to RC407) as well as significant previous diamond
drill results from the gold-in-oxide material are also shown. The limits to the gold-in-oxide blanket at
Machichie is currently unknown Terms; g/t = grams / tonne, m = metres
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/195642_80ab584b94e8394e_002full.jpg
Section 553180
Drill holes RC399, RC 400 and RC401 were all drilled on section 553180 in the eastern part of the
Machichie discovery (Figures, 1 and 2, Table 1). The holes were designed to follow up on the higher-
grade zone of gold-in-oxide mineralization intersected in RC hole RC040 which previously returned
34m
@ 5.4 g/t gold
from surface, including
13m @ 13.4 g/t gold
from 18m downhole (see press release
dated January 7, 2021).
Hole RC399 was drilled from north to south and intersected
23m @ 1.1 g/t gold
from surface in
mineralized basement saprolite. This subvertical east-trending zone is interpreted as being the same
zone that was intercepted in basement saprolite in RC040 (Figure 2).
Drill holes RC400 and RC401 were drilled on the same section further to the north but in a southerly
direction and intersected weaker zones of mineralization to the north. RC400 returned 11m @ 0.2 g/t
gold from surface and RC401 returned 8m @ 0.2 g/t gold.
Figure 2: Section 553180 through the Machichie gold-in-oxide blanket / saprolite and underlying
primary gold deposit showing results from RC holes RC399 to RC401. Note the previous drill
intercept of 34m @ 5.4 g/t gold in RC040. 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/3900/195642_80ab584b94e8394e_003full.jpg
Section 553150
Holes RC402 and RC403 were both drilled on section 553150, which had no previous drilling (Figures 1
and 3, Table 1). Both holes were drilled north to south, and were designed to test for the westward
extension of the higher-grade intercept of 34m @ 5.4 g/t gold in RC040 previously returned on section
553180.
Multiple east-trending subvertical mineralized zones were encountered in basement saprolite (Figure 3).
RC402 returned 23m @ 0.5 g/t gold from surface in saprolite material, including
1m @ 6.6 g/t gold
from
9m downhole in the northern zone. Hole RC403 returned 13m @ 0.4 g/t gold from surface in mineralized
basement saprolite, within the middle zone, that was also encountered deeper in RC402, which
intersected
7m @ 2.5 g/t gold
from 30m in mineralized basement saprolite.
Figure 3: Section 553150 through the Machichie discovery showing the near surface gold-in-oxide
saprolite layer and assay results for drill holes RC402 and RC403. 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/3900/195642_80ab584b94e8394e_004full.jpg
Section 553055
Holes RC406, RC407 and RC408 were drilled on section 553055 (Figures 1 and 4, Table 1). Previous
drilling had encountered multiple mineralized subvertical zones on this section. For example, DDH196
cut two vertically dipping zones, returning 12.5m @ 0.4g/t gold in near surface gold-in-oxide saprolite
material and 10.4m @ 0.7 g/t gold in the hard rock material immediately underlying the saprolite. RC406
and RC407 confirmed both of these zones extend to surface in basement saprolite, returning 10m @ 0.6
g/t gold and 10m @ 0.4 g/t gold, respectively
Results from RC408, which is designed to test the southern zone are pending.
Figure 4: Section 553055 through the Machichie gold discovery showing the near surface gold-in-
oxide saprolite layer and assay results for recent RC drill holes RC406 and RC407, as well as results
for previous holes DDH196, DDH303 and DDH304. Results are pending on RC408. 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/3900/195642_80ab584b94e8394e_005full.jpg
Drill Hole
Weathering
From
to
Width
Grade
#
m
m
m
g/t gold
RC0399
Blanket/Saprolite
0.0
23.0
23.0
1.08
EOH
48.0
RC0400
Blanket/Saprolite
0.0
11.0
11.0
0.23
20.0
22.0
2.0
0.34
EOH
42.0
RC0401
Blanket/Saprolite
3.0
11.0
8.0
0.20
EOH
35.0
RC0402
Blanket/Saprolite
0.0
23.0
23.0
0.51
incl.
9.0
10.0
1.0
6.59
30.0
37.0
7.0
2.52
EOH
38.5
RC0403
Blanket/Saprolite
0.0
13.0
13.0
0.42
EOH
37.0
RC0404
Blanket/Saprolite
0.0
12.0
12.0
0.33
EOH
22.0
RC0405
Blanket/Saprolite
0.0
9.0
9.0
0.16
EOH
19.0
RC0406
Blanket/Saprolite
0.0
10.0
10.0
0.35
EOH
15.0
RC0407
Blanket/Saprolite
0.0
10.0
10.0
0.62
EOH
19.0
Table 1: Drill results from near surface Machichie gold-in-oxide blanket / saprolite zone regarding
holes RC399 to RC407. Terms; g/t = grams / tonne, m = metres,
These drill results from Machichie confirm the presence of gold-in-oxide in basement saprolite
containing zones of higher-grade mineralization. Machichie is located just 500m north of the MG deposit.
The thickness, depth of weathering profile, and lateral extent of this zone at Machichie have not yet been
well defined. However, based on limited drilling and trenching further west and in the area of the
Machichie West target, its aerial extent could be signicant (see press release dated October 24, 2022).
As Machichie is so close to the MG resource, the identification of this higher-grade gold-in-oxide
material at Machichie could have significant positive implications for the ongoing PFS aimed at trial
mining and heap-leach processing of the near surface gold-in-oxide resources at Cuiú Cuiú.
Results still pending on 13 RC holes from Central and nine shallower power-auger holes at MG. Results
are also pending on 12 RC holes from Machichie.
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.
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