viewCabral Gold Inc

Cabral Gold continues to find gold in north-eastern Brazil


The exploration company recently made a new discovery at Cuiú Cuiú, known as the Machichie zone

gold nuggets

Quick facts: Cabral Gold Inc

Price: 0.58 CAD

Market: TSX-V
Market Cap: $55.15 m
  • Flagship Cuiú Cuiú project boasts a gold-in-soil anomaly that is 18 kilometers long and largely untested
  • New discovery at Machichie zone shows continuity of high-grade material on the property
  • Management team has a long history of success in Brazil

What Cabral Gold does:

Cabral Gold Inc (CVE:CBR) (OTCMKTS:CBGZF) is unlocking the high-grade gold potential of north-eastern Brazil.

The Vancouver-based company’s flagship asset is the Cuiú Cuiú project in the Tapajos region, an infrastructure-rich area near Eldorado Gold’s Tocantinzinho precious metals project.

Cuiú Cuiú has a resource of 5.9 million tons grading 0.9 grams per ton (g/t) of indicated gold and of 19.5 million tons grading 1.2 g/t of inferred gold, or 200,000 ounces and 800,000 ounces of gold, respectively.

Cuiú Cuiú boasts a gold-in-soil anomaly that is 18 kilometers (km) long and largely untested. Exploration work at Cuiú Cuiú recently identified multiple high-grade gold vein target areas outside of the historic resource and gold-in-soil anomaly.

The exploration company recently made a new discovery at Cuiú Cuiú, known as the Machichie zone.

Earlier drilling at Machichie revealed a significant new mineralized zone that is open along strike and down-dip, with a high-grade vein structure that looks to be continuous over nearly 450 metres. One intercept from the Machichie West zone returned 3.4 metres at nearly 37 g/t of gold.

A new target, Climar is 10 km east of the Central gold deposit and 7 km northeast of the Moreira Gomes deposit on the Cuiú Cuiú property.

Cabral’s management team has a long history in Brazil, having made four previous discoveries. CEO Alan Carter is ex-Rio Tinto and founded Brazil-focused Magellan Minerals Inc, which was acquired by Anfield Gold Corp in 2016.

How is it doing:

Cabral Gold is kicking off a new round of drilling at its Cuiú Cuiú gold project in Brazil.

The Vancouver-based exploration company announced in October that the second phase of drilling is designed to extend and confirm the continuity of high-grade mineralization at the recently discovered Machichie zone.

Drilling will also focus on the Central and MG deposits, the company told investors in a statement.

The new drilling program will determine the limits of the zone and the down-dip continuity of the Machinchie West zone.

A recent review of historical data from MG and Central revealed dozens of high-grade gold intercepts from both targets that appear to be continuous.

It is also progressing with Exploration work at the Climar target area, which has never been drilled before. The program is aimed at identifying the source of placer gold, particularly a coarse gold nugget group produced from streams.

Cabral collected 934 soil samples from the target area so far, with an additional 1,000 samples to be collected in the coming weeks.

The company recently raised C$3.4 million in a non-brokered private placement consisting of 22.7 million units at a price of $0.15 per share.

Inflection points: 

  • Once drilling is completed at Machichie, the focus will shift to the MG and Central gold deposits in order to understand the vertical extent of the zones
  • Further drill results are expected from Machichie and Climar, with results pending on a number of targets
  • Cabral will follow up with more drilling in the last half of 2019

What the CEO says:

“Cuiu Cuiu is not one large deposit, it will be a series of deposits in close proximity,” Cabral's CEO Alan Carter told Proactive in a May 2019 interview. “The existing resource that we have of over a million ounces is already split between two deposits around five kilometres apart. We think Machichie will be the third significant deposit.”

He added: “There are some very high-grade numbers associated with those historical resources that were never wireframed down. The new discovery at Machichie is significant because we do have continuity of the high-grade material for at least 500 metres along strike and at depth. We’ve got a lot of work ahead of us.  

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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on 20/8/20

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