Cabral Gold (TSX.V: CBR)
Announced 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.
The highlight was hole RC390 which returned 23m @ 1.0 g/t gold from 5m depth.
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Cabral Gold pit at Cuiú Cuiú
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| Cabral Gold | TSX.V : CBR |
| Stage | Exploration |
| Metals | Gold |
| Market cap | C$35 m @ 19c |
| Location | Cuiú Cuiú , Tapajos, Para State, Brazil |
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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.
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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
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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.
“The underlying weathered basement rocks or saprolite at concentrations is 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.”
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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.
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds no shares in Cabral Gold.
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