Vancouver, British Columbia–(Newsfile Corp. – August 25, 2022) – Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) (“Cabral” or the “Company“) is pleased to provide assay results from five diamond-drill holes testing the Machichie Main zone discovery within the Cuiú Cuiú gold district.
Highlights are as follows:
- DDH303 returned the following intervals in primary intrusive basement rocks;
- 6.4m @ 11.6 g/t gold from 123.6m including 1.1m @ 60.0 g/t gold
- 3.8m @ 1.3 g/t gold from 81.9m
- 1.9m @ 2.2 g/t gold, from 76.8m
- DDH279 returned the following intervals in primary intrusive basement rocks;
- 16m @ 2.9 g/t gold from 112.4m including 1.1m @ 29.7 g/t gold
- 3.6m @ 3.4 g/t gold from 232.6m including 0.5m @ 14.9 g/t gold
- 3.2m @ 2.7 g/t gold, from 77.2m
- 3.0m @ 1.1 g/t gold, from 138.5m
- DDH302 returned 7.3m @ 5.0 g/t gold from 202.5m, including 1.8m @ 18.5 g/t gold. DDH300 returned 15.7m @ 1.6 g/t gold from 176.2m, including 0.8m @ 8.9 g/t gold, and 0.5m @ 12.5 g/t gold. DDH301 returned 12.2m @ 1.4 g/t gold from 215.6m
- These diamond-drill results from Machichie provide further evidence of the continuity of the Machichie Main zone at depth and indicate that this zone also contains a significant amount of high-grade gold mineralization
Alan Carter, Cabral’s President and CEO commented, “These drill results from the eastern part of the Machichie Main zone extend the mineralized zone to depth, it remains open down-dip on every section. All five follow-up diamond-drill holes at the Machichie Main zone cut broad zones of alteration including significant zones of high-grade mineralization. This is very similar to the style of mineralization found within the Central and MG gold deposits, as well as the new PDM discovery. Recent trenching to the west also suggests that the Machichie Main zone extends for more than 900m along strike. To the west, it coalesces with a major north-east trending vein array. Combined, the Machichie W, Machichie SW, Machichie Main zone and Machichie NE target areas are now referred to as the Machichie Complex, which is likely to grow into a significant deposit”
Machichie Main Zone Drill Results
The Machichie target is located 500m north-west of the MG gold deposit (Figure 1). Previous drilling at the Machichie Main zone identified a persistent mineralized zone which is east-trending and dips steeply to the north. This main zone consists of a high-grade core zone surrounded by a low-grade alteration envelope which is similar in style to the primary bedrock gold deposits at MG and Central, as well as the recently announced PDM basement discovery.
Figure 1: Map showing the location of the Central and MG gold deposits, the recent discoveries at PDM and Machichie, the three oxide blankets and the new Machichie West area. Other key gold targets are shown as yellow circles
The current drill program testing the Machichie Main zone (Figure 2) was designed to expand the zone of mineralization down-dip and along strike. All of the five holes reported herein were drilled on three adjacent N-S sections and down-dip from limited previous shallow drill intercepts. All of the holes successfully intercepted significant intervals of mineralization down-dip, including several high-grade intercepts.
Figure 2: Detailed map showing the Machichie Main zone trending east-west and drill results from holes DD279 and DDH300 to DDH303. Background is RTP magnetic data. The outline of the low-grade alteration envelopes for MG and Machichie are shown in yellow
DDH303 was drilled down dip of DDH196 on section E553055 (Figure 3, Table 1).
DDH196 was the only previously drilled hole on this section. This shallow hole cut two mineralized intervals which returned 10.5m @ 0.5 g/t gold and 2m @ 5.85 g/t gold. DDH303 successfully extended both of these zones approximately 50m down dip (Figure 3).
The results from DDH303 include 6.4m @ 11.6 g/t gold from 123.6m including 1.1m @ 60.0 g/t gold; 3.8m @ 1.3 g/t gold from 81.9m; 1.9m @ 2.2 g/t gold, from 76.8m. In DDH303, the grade is significantly higher within both mineralized zones encountered in DDH196, and remain open down-dip (Figure 3).
Drill-holes DDH279, 300 and 301 were all drilled on section E552960 (Figure 4) approximately 95m west of hole DDH303 on section E553055.
Only one very shallow hole (DDH198) had been previously drilled on section E552960. It cut a broad, altered and deformed mineralized zone, which included several higher-grade intervals, including: 10.2m @ 0.5 g/t gold, 2.5m @ 1.0 g/t gold, and 7.8m @ 0.9 g/t gold.
DDH279, 300, and 301 were drilled to better define the dip of the mineralized structures. These new holes all confirmed the down-dip continuity of the previous intercept (Figure 4, Table 1). All three holes combine to extend the mineralized zone an additional 85m down-dip and the zone remains open down-dip.
- DDH279 returned 16m @ 2.9 g/t gold from 112.4m, including 1.1m @ 29.7 g/t gold, 3.6m @ 3.4 g/t gold from 232.6m including 0.5m @ 14.9 g/t gold, 3.2m @ 2.7 g/t gold, from 77.2m and 3.0m @ 1.1 g/t gold, from 138.5m
- DDH300 returned 15.7m @ 1.6 g/t gold from 176.2m, including 0.8m @ 8.9 g/t gold, and including 0.5m @ 12.5 g/t gold
- DDH301 cut 12.2m @ 1.4 g/t gold from 215.6m
DDH302 was drilled on section E553000 mid-way between the previous sections. Two previous shallow diamond-drill holes had been drilled on this section (DDH177 and DDH178). Each cut two broad mineralized intervals. DDH178 intersected 10.2m @ 3.2 g/t gold, and 17.3m @ 1.1 g/t gold (Figure 4).
DDH302 was drilled approximately 100m down dip of DDH178. It returned 7.3m @ 5.0 g/t gold from 202.5m, including 1.8m @ 18.5 g/t gold (Figure 5, Table 1). DDH302 also cut a narrower intercept of 1m @ 1.4 g/t gold from 175.4m depth, which is interpreted to correlate with the section in DDH178 which returned 17.3m @ 1.1 g/t gold. Both of these Machichie Main zone intercepts remain open down-dip.
The results from the initial five diamond-drill holes at the Machichie Main zone confirm that the mineralized zone is open at depth, and also demonstrated down-dip continuity. All three of the sections described here are from the central eastern part of the mineralized zone, and indicate that just like the Central and MG gold deposits, the Machichie Main zone exhibits a significant amount of high-grade gold mineralization.
Further drilling will be required to define this area further, but the Machichie region now has multiple mineralized areas that may combine to form the next new significant gold deposit at Cuiú Cuiú. The recent trenching to the west suggests that the Machichie Main zone could extend at over 900m from east to west, and it remains open to the west. The new northeast-trending vein arrays and Machichie NE remain open in all directions and have been only subjected to scout drilling to date.
All mineralization encountered at Machichie to date remains open down-dip and along strike. The Machichie Complex could prove to be the next significant gold deposit at Cuiú Cuiú.
Table 1: Drill results from Machichie Main zone regarding holes DDH279 and DDH300 to DDH303
Drilling / Resource Update
Results are pending on 12 diamond-drill holes at MG.
Results are pending on eight additional follow-up diamond-drill holes at Machichie.
Results are also pending on six diamond-drill holes at the Indio.
The preparation of an updated resource estimate for the Cuiú Cuiú project is still in progress. The NI 43-101 estimate is being carried out by SLR Consulting (Canada) Ltd. and is expected to be completed during Q3 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 @ 0.90g/t (200,000 oz) and Inferred resources of 19.5Mt @ 1.24g/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:
President and Chief Executive Officer
Cabral Gold Inc.
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.
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.
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.