This follows a successful recent round of drilling designed to both upgrade and increase the grade of mineralization within the near-surface blanket and saprolite oxidized material at both the Central and MG gold deposits.
Highlights
Cabral is planning a focused RC drilling program directed at the following areas:
The Machichie Main zone target which is 500m north of the MG gold deposit. Recent drilling within the Machichie Main zone returned excellent results in the oxide material including 30m @ 2.6 g/t gold, suggesting the presence of additional higher grade oxide material. Previous drilling and trenching at Machichie identified an E-W trending mineralized zone extending over 900m which remains open
The Machichie NE target where limited drilling returned positive results including 8m @ 3.3 g/t and 9m @ 2 g/t gold. Machichie NE is located just 200m north-east of the Machichie target and 650m north of the MG gold deposit
The Machichie West target where trenching identified a sheeted vein system that has never been drill tested. Surface trenching from Machichie West included intervals of 96.5m @ 0.6 g/t, and 138m @ 0.5 g/t gold within an area of 300 x 500m
The Pau da Merenda target which hosts inferred resources in the oxide material but is open along strike and at depth. Previous drill results include 47.1m @ 1.8 g/t gold, 8.5m @ 5.1 g/t gold, 40m @ 2.2 g/t gold, 46m @ 1.2 g/t gold, and 13m @ 4.6 g/t gold.
The Baixao da
Cuiu Cuiu RC drill program
On
Since initiating the 2023 drill program using the Cabral-owned RC rig, a total of 78 RC holes have been completed at the Central and MG gold deposits, and the Machichie target. Results include 27m @ 1.9 g/t gold at MG , 16m @ 5.2 g/t gold at Central and 30m @ 2.6 g/t gold at Machichie.
The results from this drill program are currently being used to revise and upgrade resource models that will be utilized in mine planning process that is ongoing and part of the PFS.
In view of the encouraging drill results from the Machichie target in particular where there is currently no resource due to insufficient density of previous drilling, management has elected to extend and expand the drill program at the Machichie target, as well as drill a number of additional holes at the Machichie NE,
The Machichie main zone target is located just 500m north of the MG gold deposit. Previous drilling and trenching at the Machichie Main zone identified an E-W trending mineralized zone extending over 900m, which is parallel to the MG gold deposit. Previous drilling and trenching returned significant gold values including 34m @ 5.4 g/t, 6.4m @ 11.6 g/t, 45m @ 1.0 g/t and 62.8m @ 0.9 g/t in drilling and 5m @ 8.3 g/t and 9.5m @ 5.3 g/t gold in trenching. Recent drilling suggests the presence of distinct higher-grade gold mineralized zones within the saprolite (e.g. 30m @ 2.6 g/t gold) which extend into the underlying primary bedrock. Additional holes are planned to further define these zones.
Drilling is also planned at the Machichie NE target located 200m NE of the Machichie Main zone. Limited previous drilling at this target returned positive results including 8m @ 3.3 g/t in fresh basement rocks and 9m @ 2 g/t gold within blanket sediments. The mineralization is open to the east and at depth. Previous drilling suggests up to 60m of weathered saprolite at Machichie NE, with mineralization extending into the primary bedrock.
Drilling is also planned at the Machichie West target which appears to be a sheeted vein system that has never been previously drill tested. Previous surface trenching from the area returned intervals of 96.5m @ 0.6 g/t and 138m @ 0.5 g/t gold within an area of 300 x 500m.
Cabral plans to also conduct further drilling at Pau da Merenda ('PDM'), a broad area of mineralization located along strike 1km NW of the Central deposit. PDM hosts an inferred resource within saprolite with drill highlights include 47.1m @ 1.8 g/t gold and 8.5m @ 5.1 g/t gold, 40m @ 2.2 g/t gold, 46m @ 1.2 g/t gold, and 13m @ 4.6 g/t gold. PDM remains open along strike and at depth.
The Company also plans to drill the previously untested Mutum and Baixao da
The Baixao da
The RC drilling program is currently in progress and is expected to continue for several months.
An update on the PFS being conducted by Ausenco Brazil, which is aimed at determining the economic viability of the near-surface gold-in-oxide material at Cuiu Cuiu, will be provided in the coming weeks.
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
Technical information included in this release was supervised and approved by
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'). These forward looking statements include plans for drilling, the expansion of the resource estimate, upgrading existing resources from Inferred to Indicated categories. The use of the words 'will', 'expected', 'designed to' 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. 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.
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