| Vancouver, British Columbia – April 1, 2020 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) is pleased to announce that it has identified a vein containing visible gold mineralisation at the Alonso target. The Company is also pleased to provide a further update regarding the ongoing regional exploration work at the Cuiú Cuiú project in Brazil.
Highlights
· Trenching has identified visible gold in an E-W trending quartz vein structure located adjacent to the area where 24 rock samples from boulders returned highly anomalous gold values ranging from 11.6 to 200.3 g/t gold. A composite grab sample of vein material excavated from this vein returned 15.8 g/t gold
· In addition, sheeted quartz veinlet mineralisation was observed in bedrock 25m north of the outcropping vein structure described above suggesting the presence of a broader mineralised zone associated with a prominent E-W trending magnetic anomaly. This style of mineralisation is typical, albeit higher grade, of the known mineralisation which comprises the existing MG and Central gold deposits at Cuiú Cuiú as well as the Machichie target which was discovered during early 2019
· Reconnaissance work to the east of the area where the original high-grade quartz-pyrite boulders were identified, has returned anomalous gold values in soils up to 900m to the east. Additional quartz-pyrite float material has also been identified up to 1.3km east of the high-grade quartz-pyrite boulders, further extending the Alonso target area to the east
Alan Carter, President & CEO stated “The identification of visible gold in an outcropping quartz vein adjacent to the area of abundant quartz-pyrite boulders at Alonso is an important step forward in identifying the source of the quartz boulders which recently returned gold values of 11.3 to 200.3 g/t gold. Furthermore, the possible presence of a broad mineralization halo extending at least 25m to the north of the main vein structure suggests that the style of gold mineralization at Alonso is similar to the two main existing gold deposits at MG and Central. This further supports the conclusion that Cuiú Cuiú is an emerging district containing multiple gold deposits”.
Alonso Target
Recent trenching has been conducted at the Alonso target where a series of large angular quartz boulders returned gold values of 11.6 to 200.3 g/t gold. The trench extended over 31.4m in a NNW direction along the western flank of the alluvial workings where the quartz boulders were discovered. Excavation through a shallow layer of cover located an in-situ quartz-pyrite vein containing visible gold. The vein that is exposed is 1.3m in width, trends E-W and is coincident with a pronounced E-W trending magnetic anomaly. It is not known at this point if this vein is the source of the high-grade boulder samples, since most of the boulders are located up slope from the outcropping vein and are upstream beyond the northern limit of the trench.
A first attempt at trenching 8m to the east of the final site was abandoned, as the site proved to be waterlogged. A composite grab sample of vein material excavated from this attempt returned a grade of 15.8 g/t gold. However, continuous channel sampling was feasible in the revised position shown in Figure 1. The channel sample across the vein interval returned 1.3m @ 7.1 g/t. The southern sector of the trench was barren. The northern limit of the trench terminated within a low-grade halo (4m @ 158 ppb gold). The halo is known to extend further north, with narrow millimeter scale quartz veinlets observed up to 25m north of the main vein structure. Most of the boulders occur upstream to the north and remain untested.
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