Third Gold-in-Oxide Blanket Within Cuiú Cuiú Gold District
Cabral Gold Drills 55.1m @ 1.1 g/t Gold
Including 5m @ 6.1 g/t Gold, and Identifies a
Third Gold-in-Oxide Blanket Within Cuiú Cuiú
Gold District
Vancouver, British Columbia--(Newsfile Corp. - January 27, 2022) -
Cabral Gold Inc.
(TSXV: CBR)
(OTC PINK: CBGZF)
("Cabral" or the
"
Company
") is pleased to provide assay results from an initial
12 RC drill holes and three diamond holes drilled within and above the Central gold deposit within the
Cuiú Cuiú gold
district in northern Brazil.
Highlights are as follows:
DDH251, intersected gold-in-oxide mineralization at the Central deposit, and returned
55.1m @ 1.1 g/t
gold
from 4.9m depth
including
5m @ 6.1 g/t gold
and
15.5m @ 1.7 g/t gold
from 65.8m depth
and
3.5m @ 0.8 g/t gold
from 81.3m depth in un-weathered and highly brecciate and altered
intrusive rocks beneath the oxidation
DDH247, also drilled at Central, returned
11.0m @ 0.7 g/t gold
from surface, in gold-in-oxide
blanket material, as well as
20.4m @ 0.5 g/t gold
and
23.3m @ 0.3 g/t gold
in un-weathered and
highly brecciate and altered intrusive rocks further down the hole
Results on an initial 10 shallow RC holes drilled within and around the northern part of the Central
deposit, revealed a thin but consistent gold-in-oxide blanket. Results of note include RC259 which
returned
26m @ 0.4 g/t gold
in oxidized material from surface
Alan Carter, Cabral's President and CEO commented, "The results from the initial drilling at the
Central gold deposit clearly demonstrate that we have a significant zone of gold-in-oxide
mineralization forming a blanket above the primary Central deposit. This is the third gold-in-oxide
blanket identified at Cuiú Cuiú since the initial discovery at MG in April of last year, and these recent
discoveries are in addition to the two existing hard-rock deposits with resources at Cuiú Cuiú. At this
stage, we do not know the extent of the blanket or how much of this material at Central is in-situ
weathered primary gold mineralization, and how much is transported cover material. Nevertheless,
both types of material are expected to add significantly to the inventory of potentially leachable gold-
in-oxide deposits recently identified at MG and PDM. Additional drilling over the next months is
expected to further define the limits of the oxide material at Central, whilst providing further definition
of the high-grade zones within the underlying primary deposit at Central."
Central Diamond-Drill Results
The Central gold deposit is located 2.5km SE of the PDM target (Figure 1). Recent drilling at PDM
returned
22.4m @ 4.8 g/t gold
and
11.9m @ 3.3 g/t gold
in altered and brecciated granitic rocks
beneath an extensive gold-in-oxide blanket (see press releases dated December 15, 2021 and January
12, 2022).
Two rigs are currently operating at Central: an RC rig drilling shallow holes to test the presence of a near-
surface gold-in-oxide blanket; and a diamond rig to better define the high-grade, highly altered,
brecciated and sheared zones within the primary basement deposit, as well as to test for a near surface
gold-in-oxide blanket.
Figure 1: Map showing the location of the PDM and MG gold-in-oxide blankets and the existing MG
and Central primary gold deposits as well as other key targets (yellow circles) within this part of the
Cuiú Cuiú district
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/111841_5b20146c14cacbd6_002full.jpg
A total of eight diamond-drill holes were completed in late 2021. Assay results reported herein are from
three holes; DDH247, DDH251 and DDH252 (Figure 2, Table 1). The principal objective of this drilling
program is to identify and define the individual higher grade zones within the Central gold deposit, whilst
exploring for additional high grade mineralization in parts of the current resource with a historic low drill
density. Assays from the remaining five 2021 holes are pending. The current program of diamond drilling
at Central involves the completion of 43 holes in total.
The main mineralized area at Central is covered by a flat-lying transported colluvial blanket. This overlies
a deep oxidized zone of saprolite basement, wherein the oxidized weathering profile extends to depths
of up to 80m into the primary highly altered, breccia-hosted mineralization. Primary gold mineralization
extends close to surface within this oxidized weathered zone.
As with the near-surface mineralization at MG and PDM, the oxidized weathered primary material and
the overlying colluvial blanket may be amenable to low-cost heap leach processing. The weathered
rocks will also likely have lower mining costs than the deeper fresh hard basement rocks.
It is important to recognize that much of the historic drilling at Central was very deep and did not
adequately test the mineralized oxidized cover sequence. The initial phase of diamond drilling at Central
is focused on defining, and exploring for, higher grade mineralization within 200m of surface that would
represent the initial portion of a potential open pit.
Holes DDH251 and DDH252 were both drilled on section N20970 (Figures 2 and 3). DDH251 was
drilled to the north-east and returned
55.5m @ 1.1 g/t
gold
in saprolite oxidized basement material from
4.9m depth
,
including
5.0m @ 6.1 g/t gold
from 44.2m depth, and
15.5m @ 1.7 g/t gold
from 65.8m
depth. The hole also intersected
3.5m @ 0.8 g/t gold
in un-weathered highly altered basement rocks
from 81.3m depth, directly beneath the weathered and oxidized rocks (Figure 3). The hole ended shortly
thereafter at 86.7m depth, and likely terminated in the mineralized basement zone, leaving the
mineralized zone open to the NE.
Hole DDH252 was drilled to the SW in the opposite direction, away from the known mineralized zone
and was designed to test for parallel zones. It failed to intersect any significant mineralization apart from
a narrow 3.0m interval of colluvial blanket from surface which averaged 0.2 g/t gold.
Figure 2: Map showing the outline of the Central gold deposit and the drill holes completed to date
including historic diamond-drill holes, and recent RC and diamond-drill holes with results reported as
part of this press release
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/111841_5b20146c14cacbd6_003full.jpg
Drill Hole
Weathering
Mineralized Zone
From
to
Width
Grade
m
m
m
g/t gold
DDH247
Oxide/Saprolite
Colluvial Blanket
0.0
11.0
11.0
0.7
Saprolite Basement
28.6
39.5
10.9
0.2
Fresh Rock
90.8
111.2
20.4
0.5
122.4
145.7
23.3
0.3
EOH
186.1
DDH251
Oxide/Saprolite
Saprolite
Basement
4.9
60.4
55.5
1.1
incl.
44.2
49.2
5.0
6.1
and
incl.
45.2
46.2
1.0
12.8
and
65.8
81.3
15.5
1.7
Fresh Rock
81.3
84.7
3.5
0.8
EOH
86.7
DDH252
Oxide/Saprolite
Colluvial Blanket
0.0
3.0
3.0
0.2
EOH
90.2
Table 1 showing the drill results from the diamon- drill holes DDH247, DDH251 and DDH252
Figure 3: Section N20970 through the Central deposit showing the location of DDH251 and DDH252.
Results are pending on DDH258. Section also shows historic drill holes which were drilled oblique to
section with total interval from hole. Sect. Interv. = Section Interval extending 12.5m in both directions
and at 90 degrees from section plane
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3900/111841_5b20146c14cacbd6_004full.jpg
Hole DDH247 was drilled on section N20845, near the SW corner of the known Central deposit, as
currently outlined (Figure 2). It intersected
11m @ 0.7 g/t gold
from surface (Table 1, Figure 4) which is
interpreted to be gold-in-oxide blanket material in transported sedimentary and colluvial overburden. The
lateral extent of the blanket is unknown at this time, as similar blanket material was not sampled in
historic holes to the NE or to the SW on this section.
Hole DDH247 also intersected 10.9m @ 0.2 g/t gold in oxidized primary basement material (saprolite)
from 28.6m depth. Below the weathered rocks, DDH247 intersected
20.4m @ 0.5 g/t gold
from 90.8m
depth and
23.3m @ 0.3 g/t gold
from 122.4m depth in unweathered highly altered and brecciated
intrusive rocks.
Figure 4: Section N20845 through the Central deposit showing the location of DDH247. Note upper
section of 11m @ 0.7 g/t gold in colluvial gold-in-oxide blanket. Section also shows historic drill holes
which were drilled oblique to section with total interval from hole. Sect. Interv. = Section Interval
extending 12.5m in both directions and at 90 degrees from section plane
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/3900/111841_5b20146c14cacbd6_005full.jpg
Central RC Drill Results
Results were also returned on an initial ten shallow RC holes completed in late 2021 within, and around,
the northern end of the primary Central deposit. The objective of this drilling was to determine whether
there are indications of mineralized gold-in-oxide near surface blanket material in the northern part of the
Central deposit, similar to that found at MG and PDM.
The ten exploration RC holes reported here (RC251 to RC254, RC254B, RC255 to RC259) were drilled
on three NE-SW trending sections over an area of approximately 350m x 300m (Figure 2). Seven of the
ten holes returned indications of a thin, low-grade gold-in-oxide blanket over the northern part of the
primary Central gold deposit. Highlights include
26m @ 0.4 g/t gold
from surface in RC259 and
14m @
0.2 g/t gold
from 23.0m depth in RC252 (Figure 2). Interestingly, hole RC259 is the most northerly of
these RC drill holes which may indicate the presence of higher grades and thicknesses within the
blanket to the north.
The RC drilling program at Central is ongoing with results pending on an additional eight holes. A further
eight holes are planned.
Drilling Update
As noted above, an extensive diamond drilling program is in progress at the primary Central gold
deposit. Assay results are currently pending on five holes completed in 2021, from a total program of 43
planned diamond-drill holes at Central. These are designed to further define the high-grade zones at
Central.
RC drilling at Central is also in progress above the northern end of the Central gold deposit. This 2022
program is aimed at further defining the extent of the gold-in-oxide blanket material intersected in several
of the RC holes drilled over the northern part of the primary Central deposit and in recent diamond-drill
holes over the southern end of the Central deposit (as described above).
Diamond drilling is also in progress at the recently discovered mineralized zone in basement granitic
rocks at the PDM target located 2.5km NW of Central, and at the primary MG deposit located 5km SE of
Central (see press release dated January 12, 2022).
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 gold deposits have so far been defined at Cuiú Cuiú and contain 43-101 compliant
Indicated resources of 5.9Mt @ 0.90 g/t (200,000 oz) and Inferred resources of 19.5Mt @ 1.24 g/t
(800,000 oz).
The Tapajós Gold Province is the site of the largest gold rush in Brazil's history producing 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.
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 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/111841