Vancouver, British Columbia–(Newsfile Corp. – May 16, 2024) –Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) (“Cabral” or the“Company“) is pleased to provide an update of the ongoing trial-mining prefeasibility study (PFS) regarding the potential exploitation of near-surface gold-in-oxide mineralization at both the Central and MG gold deposits within the Cuiú Cuiú gold district in northern Brazil.

.

Highlights

• The ongoing PFS study being conducted by Ausenco do Brasil Engenharia Ltda (“Ausenco”) is now 87% complete. An initial estimate of capital expenditures is nearing completion with the focus now on more detailed cost estimates and optimizing project components to the most cost-effective design.

• Metallurgical test work on six additional representative samples of oxide gold mineralization from the MG and Central gold deposits is now 60% complete. Initial indications are encouraging and indicate results comparable with previous test work which resulted in gold recoveries of 82% at MG after 60 days leaching in columns.

• Mine design and planning work is being undertaken by Deswick Brazil Inc. (“Deswick”) and is 30% complete. Engineering on early works to support a fast-track construction of the project has commenced. Discussions have commenced with mining contractors and potential EPCM companies.

Alan Carter, Cabral’s President and CEO commented,

“The PFS continues to make good progress and reinforces our previous expectations for the initial trial-mining project, while identifying significant potential improvement and value enhancements.

 

“We expect some of these opportunities will be included in the PFS scope and, together with other elements, will provide robust pathways for future growth and optimisation.

 

“The previously reported excellent drill results from the program of RC drilling at the MG and Central gold deposits has improved our confidence in the resource estimate and confirmed higher grades within the near-surface saprolite and overlying blanket oxide material.

 

“Positive drilling at Machichie has confirmed a third source of high-grade shallow oxide material that could eventually be added to the project’s mineral inventory.”

Update regarding Prefeasibility Study

The Company is making good progress on a NI 43-101 compliant PFS regarding the economic viability of mining and heap-leach processing of the gold-in-oxide weathered material at the Central and MG gold deposits at Cuiú Cuiú.

Ausenco do Brasil Engenharia Ltda (“Ausenco”) has advised that the study is now 87% complete with the main items outstanding being capex estimates.

The Company expects to release the results of the PFS during mid Q3 2024.

.

——-

To read the full news release please click HERE

.

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Cabral Gold.

.