Vancouver, British Columbia–(Newsfile Corp. – February 2, 2022) – Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) (“Cabral” or the “Company“) is pleased to provide assay results from several trenches recently excavated immediately west of the main Machichie target within the Cuiú Cuiú gold district in northern Brazil.
Highlights are as follows:
- Trench CT35A, located 285m west of the most westerly drill hole at the main E-W trending Machichie main zone, returned
- 5m @ 8.3 g/t gold
- including 1m @ 37.8 g/t gold
- The mineralization in CT35A is on strike and interpreted to represent the western extension of the E-W trending main Machichie mineralized structure. If proven correct, this would represent a 60% extension to the known mineralized zone at Machichie. This suggests that the Machichie main zone could extend for at least 800m along strike, whilst still being open to the west
- Trench CT36 completed 100m to the NE of CT35A also returned encouraging results in a new parallel structure at Machichie, including:
- 0.6m @ 12.9 g/t gold,
- 1.5m @ 1.6 g/t gold, and
- 0.7 @ 1.1 g/t gold
- Further trenching in both areas is in progress in advance of planned follow-up drilling
Alan Carter, Cabral’s President and CEO commented, “The results from recent trenching west of the main E-W trending Machichie mineralized zone suggest there could be a significant extension to the zone as we currently know it, indicating a possible 60% addition to the strike length of the known mineralized structure. Whilst further trenching is ongoing and drilling is planned, this is a major development in our efforts to determine the size and scope of the mineralized zones at Machichie, which is located just 500m north of the MG gold deposit. It also adds further support to previous drilling which identified numerous near-surface high-grade vein structures in this area of the Cuiú Cuiú property. With the existing two gold deposits at MG and Central, the recent discovery of three near-surface gold in oxide blankets, and a new hard-rock mineralized zone at the PDM target, Cuiú Cuiú is rapidly emerging as a significant gold district, containing multiple zones of near-surface gold mineralization, which are all located in close proximity.”
Machichie Trench Results
The Machichie target is located 500m north of the MG gold deposit (Figure 1). It was initially discovered in 2019. Previous drilling at Machichie identified a persistent mineralized zone which is E-W trending, dips steeply to the north. The main zone consists of a high-grade core zone surrounded by a low-grade alteration envelope. This is very similar to the style of primary bedrock gold deposits at MG and Central, as well as the recently announced PDM basement discovery (see press releases dated December 15, 2021 and January 12, 2022).
Figure 1: Map showing the location of the Machichie target and the existing MG and Central gold primary gold deposits, as well as the recently identified gold-in-oxide blanket and underlying mineralized zone in hard rock at the PDM target within the Cuiú Cuiú district. Other key targets are shown as yellow circles
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/112478_1933e124f4056bae_002full.jpg
Drilling to date at Machichie returned consistent gold values. These included: 45.0m @ 1.0 g/t, including 3.1m @ 7.3 g/t gold; 62.8m @ 0.9 g/t, including 2.1m @ 15.3 g/t gold; and 34m @ 5.4 g/t gold, including 13m @ 13.4 g/t gold (see press releases dated January 7, 2021). The two most westerly holes at Machichie drilled to date were: DDH181, which returned 6.6m @ 2.0 g/t gold, including 0.6m @ 13.5 g/t gold; and RC57, which returned 1m @ 3.0 g/t gold (Figure 2).
In November 2021, Cabral completed three short reconnaissance trenches, totaling 65m, nearly 300m west of, and along strike from the known Machichie mineralized zone (Figure 2). All of the trenches were oriented N-S and were designed to test the near-surface extent of recently discovered mineralized boulders.
Trench CT35A was excavated directly along strike of the known strike extent of the main Machichie mineralized zone. This trench is located 285m west of the drill hole RC57, which is the most westerly drill hole completed along the Machichie main zone to date. The trench cut a zone of intense quartz veining and alteration which returned 5m @ 8.3 g/t gold, including 1m @ 37.8 g/t gold. This mineralization is now interpreted to be the western extension of the main mineralized zone at Machichie (Figure 2). Whilst further trenching in this area is required, if the results returned from trench CT35A are part of the same mineralized structure at Machichie, then the main Machichie structure could extend at least another 285m to the west. This would increase the total strike length of the main Machichie mineralized zone by approximately 60% to 800m, and it would still be open on strike to the west.
In addition, trench CT36, which was developed 100m to the NE of CT35A also returned encouraging results. These included 0.6m @ 12.9 g/t gold, 1.5m @ 1.6 g/t gold and 0.7 @ 1.1 g/t gold. These values may represent a new mineralized structure that is parallel to the main mineralized zone. Narrower similar parallel zones are common in both the footwall and hanging wall of the Central and MG primary (hard-rock) gold deposits, as well as the recent PDM hard-rock gold discovery.
As a result of these highly encouraging results from trenching, the trenching program at Machichie has been expanded, and a planned program consisting of an additional 19 N-S trenches totaling 950m has commenced. This trenching is designed to define the western extent of the main mineralized zone at Machichie. In addition, ten diamond-drill holes are planned to follow up on the trench assay results. Drilling is expected to commence in March.
Figure 2: Detailed map showing the Machichie mineralized zone including previous drill results and recent trenching results. The background image is RTP airborne magnetic data.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/112478_1933e124f4056bae_003full.jpg
Drilling Update
An extensive diamond-drilling program is currently in progress at the primary Central gold deposit. Assay results are currently pending on five holes completed in 2021, from a total program of 43 planned diamond-drill holes at Central. These are designed to further define the high-grade zones at Central.
RC drilling at Central is also in progress above the northern end of the Central gold deposit and results are currently pending on nine holes. This program is aimed at further defining the extent of the gold-in-oxide blanket material intersected in several of the RC holes recently drilled over the northern part of the primary Central deposit, as well as in recent diamond-drill holes over the southern end of the Central deposit.
Diamond drilling is also in progress at the recently discovered mineralized zone in basement granitic rocks at the PDM target located 2.5km NW of Central, and at the primary MG deposit located 5km SE of Central (see press release dated January 12, 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:
“Alan Carter”
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
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.
Forward-looking Statements
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.
Notes
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.
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