Highlights are as follows:
A step-out diamond drill hole at the PDM target, DDH239, intersected basement mineralization at the PDM target, and returned 11.9m @ 3.3 g/t gold from 112.6m depth downhole including 0.5m @ 16.1 g/t gold and 1.2m @ 16.0 g/t gold
DDH239 is the first step-out hole testing the new basement PDM zone, and is located 120m to the NW of DDH238. DDH238 previously returned 22.4m @ 4.8 g/t gold from 114.1m depth downhole, including 1.35m @ 62.0 g/t gold, and 1.3m @ 9.5 g/t gold
The results from DDH239 and DDH238 indicate that the new basement mineralized zone at PDM continues for at least 200m along strike. This zone remains open on strike and both up and down dip
Results on two RC holes from MG were also received. RC262 indicates the presence of gold-in-oxide mineralization over 100m east of the current eastern limit of the gold-in-oxide blanket
PDM Diamond Drill Results
The PDM (
Drill results from the initial four diamond-drill holes at PDM were released during
DDH239 was the first step-out hole, drilled in a NE direction, and is located 120m NW of DDH238 (Figure 2). DDH239 returned 11.9m @ 3.3 g/t gold from 112.6m depth downhole, including 0.5m @ 16.1 g/t gold from 129.2m, and 1.2m @ 16.0 g/t gold from 132.7m. The hole also intersected a second zone of weaker mineralization, 7.4m @ 0.4 g/t gold from 166.6m depth downhole.
This latest result at PDM indicates that the mineralized zone at PDM can be traced along strike to the NW, which is highly encouraging. As a result, Cabral is planning on drilling 13 additional diamond-drill holes totaling approximately 3,000m in order to determine the continuity and limits to the mineralized zone.
Thus far, a total of eight diamond-drill holes have been completed at PDM as part of the current program, and results are currently pending on three additional holes. Drilling is continuing.
MG RC Drilling
Results were also returned on two additional RC holes recently completed at MG.
RC265 was drilled on section 553060 (Figure 3). It returned 14m @ 0.3 g/t gold in fresh unweathered rock from 35m depth (main zone), 6m @ 0.2 g/t gold from 61m depth, and 15m @ 0.4 g/t gold from 73m depth. Both of the lower intercepts correspond to the footwall zone to the south of the primary MG gold deposit. This hole also intersected 2m @ 0.2 g/t gold from surface within the blanket.
RC262 was drilled near the eastern limit of the MG deposit on section E554180 (Figure 3). It returned 4m @ 0.1 g/t gold from 9m depth and 3m @ 0.7 g/t from 46m depth. Both intercepts are in oxide material. Historic hole CC76 was drilled approximately 45m to the SSE and returned 19.8m @ 0.8 g/t gold within oxide, and RC261 was drilled 67m to the ENE and returned 13m @ 0.2 g/t gold within oxide (Figure 3). All of these holes are located more than 100m east of the eastern limit of the gold-in-oxide blanket as it is currently defined, and indicate that additional gold-in-oxide blanket mineralization could exist significantly further to the east and southeast than previously envisaged.
Drilling Update
Diamond drilling is re-starting at the primary Central gold deposit following the Christmas and New Year break. Central is located 2.5km SE of the PDM target (Figure 1). Assay results are currently pending on eight holes 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 will also recommence shortly with the objective of testing for the presence of gold-in-oxide blanket mineralization above the primary Central gold deposit. Results are currently pending on 12 RC holes completed in 2021.
Diamond drilling at the primary MG gold deposit, which underlies the recently identified gold-in-oxide blanket at MG, will continue shortly. Results are currently pending on an additional ten diamond-drill holes completed in 2021. Significant assay results from all RC holes completed at MG in 2021 have all now been reported.
About
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
Contact:
President and Chief Executive Officer
Tel: 604.676.5660
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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