Vancouver, British Columbia – September 26, 2019 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) is pleased to announce the commencement of a follow-up program of diamond drilling at the Cuiú Cuiú Project, Pará State, Brazil. The Phase II program is designed to extend and confirm continuity of high-grade (+10g/t gold) mineralized intercepts along strike and down-dip at the recently discovered Machichie zone (see press release dated 28th February 2019), as well as the existing Central and MG deposits (see press release dated 29th April 2019).
Initial drilling at the Machichie target during Q1 2019 resulted in the discovery of a significant new mineralized zone which remains open along strike and down dip. The zone is comprised of an E-W trending high-grade vein structure, surrounded by a lower grade envelope, which appears to be continuous over at least 450m along strike and at depth. The current drill program is initially aimed at determining the eastern and western limits of the main Machichie zone, as well as the down-dip continuity of the Machichie West zone which returned 3.4m @ 36.9g/t gold (see press release dated 28th February 2019).
Following the completion of drilling at Machichie, the rig will move to the MG and then the Central gold deposits where a recent review of the historic drill data revealed the presence of 34 (from 76 holes) high-grade (+10g/t gold) drill intercepts at Central and 18 (from 35 holes) high-grade (+10g/t gold) drill intercepts at MG, which appear to be continuous over significant strike intervals. The vertical extent of these zones, however, is largely unknown and will be the focus of follow-up drilling efforts at both MG and Central during the current drill program.
Alan Carter, President and CEO commented, “historically, the focus of drilling at Cuiú Cuiú was on identifying large low-grade bulk mineable gold deposits, and it is clear that the project has extensive zones of this style of mineralization. However, our recent work has revealed that the zones of lower-grade mineralization at both Central and MG and our new discovery at Machichie, envelop core zones of significantly higher-grade (+10g/t gold) mineralization. The evidence suggests that these high-grade zones have both lateral and vertical continuity. The Phase II drill program is designed to further confirm this as we work towards the next resource estimate”.
FOR FURTHER INFORMATION PLEASE CONTACT:
President and Chief Executive Officer
Cabral Gold Inc.
Dr. , B.Sc. Hons, PhD. FAusIMM., 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.
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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 in the Company’s supervised exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps and rejects are returned to the Company and archived. Drilling results are reported as down-hole length weighted intersections.