Vancouver, British Columbia–(Newsfile Corp. – November 14, 2024) –Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) (“Cabral” or the“Company“) is pleased to announce trench results from the Jerimum Cima target and the identification of a fifth gold-in-oxide blanket within the Cuiú Cuiú Gold District, Brazil.

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Highlights

• Surface trench CT050 at the Jerimum Cima target at Cuiú Cuiú returned18m @ 1.9 g/t goldincluding1m @ 22.8 g/t goldin weathered gold-in-oxide blanket material at surface. The trench also returned results of0.8m @ 47.6 g/t gold(which remains open), 3m @ 0.5 g/t gold, 2m @ 0.3 g/t gold, and 1m @ 2.4 g/t gold

• These results, together with previous reconnaissance drilling, indicate the presence of a fifth gold-in-oxide blanket at Cuiú Cuiú which appears to extend over an area of 900 x 1000 metres. The other gold-in-oxide blankets with Inferred and Indicated resources are Central, MG, PDM and Machichie. Only the Indicated resources at Central and MG were included in the recently released pre-feasibility study

• Previous reconnaissance drilling at the Jerimum Cima target, to the east of trench CT050 returned gold values of14m @ 1.6 g/t gold, 20m @ 1.2 g/t gold, 10m @ 1.3 g/t gold and 24m @ 0.7 g/t goldin weathered gold-in-oxide blanket and saprolite material.

Alan Carter, Cabral’s President and CEO, commented,

“The surface trench results from CT050 at the Jerimum Cima target confirm that we have a fifth gold-in-oxide blanket within the Cuiú Cuiúgold district.

 

“The results demonstrate the presence of extensive gold-in-oxide mineralization of excellent grade at Jerimum Cima.

 

“This is likely to have a very positive impact on the recent PFS study on a starter heap-leach operation which only considered mining gold-in-oxide material from the MG and Central gold deposits.

 

“The potential to upgrade Inferred material at both MG and Central and the likelihood of adding additional Indicated material with further material at the PDM and Machichie discoveries and now at Jerimum Cima, bode very well for growing the overall gold-in-oxide resource base.

 

“Furthermore, the presence of zones of higher-grade gold mineralization in the near surface saprolite to the east of the Jerimum Cima area that was previously targeted by the reconnaissance drilling, suggests that those zones of higher-grade mineralization may be more extensive than previously envisaged, with a high likelihood of extending into the underlying bedrock.”

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Vancouver, British Columbia–(Newsfile Corp. – October 21, 2024) – Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) (“Cabral” or the“Company“) is pleased to announce a positive Prefeasibility Study (“PFS”) on the development of near-surface gold-in-oxide material at the Cuiú Cuiú gold district in Brazil. The PFS, which was led by Ausenco do Brasil Engenharia Ltda. (“Ausenco”) confirms the Cuiú Cuiú gold-in-oxide starter project provides a high return and a low capital entry point to mine gold at the prospective Cuiú Cuiú District.

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Highlights

• Base Case after-tax IRR of 47.3% and after-tax NPV₅of US$25.2 million for an initial 720,000 tonne / yr starter operation using open-pit mining of oxidized gold mineralization and heap-leach processing, and assuming a gold price of US$2,250 / oz
• In the case of the current Spot Gold¹ price – US$2,710/oz, the IRR increases to 82.6% and the after-tax NPV₅to US$49.3 million
• The PFS has a 4.5-year mine life with strong cashflows in the early years and an 18-month payback²
• The initial in-pit resources have very favorable geometry due to the shallow and high-grade nature of the ore. The starter pit (planned for the first seven months) is expected to mine shallow, higher grades with a very good strip ratio, containing an estimated 418,000 tonnes of ore @ 1.38 g/t average gold grade³ with just 56,000 tonnes of waste
• Average annual gold production in the first 2 years of operation after commissioning is 19,700 ounces per year at an all-in sustaining cost (“AISC”) of US$1,003 / oz
• Low development Capex of US$ 37.4 million, including 10% allowance on most quantities and 20% Contingency
• Significant potential exists to add nearby resources of similar high-value oxidized mineralization with further step-out and infill drilling at the nearby Machichie and Machichie NE targets, where recent drilling returned 11m @ 33g/t gold

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Beyond the attractive initial financial outcome, the project 1) provides future expansion options for gold-in-oxide production, 2) provides pre-stripping exposing the underlying primary gold mineralization reducing future strip-ratios and mining costs, 3) establishes an initial operating platform to more easily transition into primary ore production, and 4) generates cash to fund an aggressive and sustained drilling program aimed at expanding the oxide resources as well as the larger underlying primary ore resource base at Cuiú Cuiú.

The company plans to immediately commence detailed engineering (“DE”) and financing activities with the objective of achieving an investment decision and financial close in Q2, 2025 with initial gold production targeted for mid-2026.

During the next six months the company plans to address further potential improvements identified in the course of the PFS and complete further shallow drilling which it expects will add new gold-in-oxide resources. These additions have the potential to materially increase the size, scope and mine life of the project.

Alan Carter, the President and CEO of Cabral commented,

“The PFS confirms an economically attractive starter heap-leach and open-pit mining operation targeting the weathered gold-in-oxide mineralization at Cuiú Cuiú and outlines a pathway for funding the evaluation and drill testing of numerous targets within the Cuiú Cuiú district.

 

“With capital expenditures of just US$37.4 million and an average operating cash cost⁴ of $1,154/oz of gold, the initial gold-in-oxide project is expected to generate strong cashflows.

 

“This cash flow will be used to fund an aggressive program of drilling directed towards the company’s principal objective of expanding the much larger primary hard rock resource base and drill testing the numerous targets within the Cuiú Cuiú district.

 

The PFS has identified several areas that should further improve the projected financial returns. Meanwhile, further drilling could lead to significant growth of the gold-in-oxide resource base and hence the mine life.

 

“In particular, this may lead to additional Indicated resources from Machichie into the mine sequencing as well as the upgrading of Inferred resources at Central to the Indicated category for inclusion in the mine plan.

 

“The company now plans to move forward with the completion of detailed engineering work, further resource drilling, modelling designed to grow the resource base and securing the necessary project financing, allowing for an investment decision during Q2 2025.

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To read our full terms and conditions, please click HERE

Vancouver, British Columbia–(Newsfile Corp. – July 17, 2024) – Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) (“Cabral” or the “Company“) is pleased to announce drill results from fifteen initial reconnaissance RC holes drilled at the Machichie West target within the Cuiú Cuiú gold district.

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Highlights

• RC439 returned 10m @ 3.00 g/t gold from 11m depth in weathered saprolite including 5m @ 5.37 g/t gold from 13m depth

• RC427 returned 13m @ 1.00 g/t gold from 19m depth in weathered saprolite, including 2m @ 4.80 g/t gold

• RC430 returned 8m @ 0.36 g/t gold from surface in blanket sediments followed by 9m @ 0.27 g/t gold in weathered saprolite. The hole also intersected 8m @ 0.60 g/t gold from 26.0m depth including 1m @ 3.78 g/t gold in hard rock

• These RC results from Machichie West suggest the presence of additional mineralized structures which have not been previously recognized which could in the near-term provide additional near surface oxide material for the trial mining and heap leach processing operation which is currently the subject of the ongoing PFS study

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Alan Carter, Cabral’s President and CEO commented,

“The Machichie West target has never been previously tested by drilling, but previous trenching produced encouraging results including 96.5m @ 0.6 g/t gold and 138m @ 0.5 g/t gold.

 

“Following the recent success of near-surface drilling at the Machichie NE target where RC421 recently returned 11m @ 33 g/t gold, this maiden reconnaissance drill program at Machichie West was designed to follow up surface trench results and define the near surface potential for additional oxide resources.

 

“The results from hole RC439 look particularly encouraging and may indicate the presence of another new zone of gold mineralization which extends to surface.

 

“As with recent results from the Machichie Main and Machichie NE zones, these results indicate the presence of additional near surface gold-in-oxide mineralization in close proximity to the MG gold deposit.”

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To read our full terms and conditions, please click HERE

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.

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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.

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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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