The results represent a “step change” in Cabral’s understanding of the distribution of gold mineralization at Cuiú Cuiú, according to CEO Alan Carter.
Cabral’s Phase II drill results confirmed that the high-grade gold mineralization is continuous down dip and along strike in at least two of three high-grade zones at Moreira Gomes (MG).
Highlights from the drill campaign include one hole that returned results of 14.2 metres (m) at 6.7 grams per ton (g/t) gold from 109.4 m depth, including 5.6 m at 13 g/t gold from 109.4 m and 0.9 m at 22.4 g/t gold from 121.3 m depth.
Other holes returned results of nearly 17 m at 9.6 g/t gold, including 7/6 m at 18.5 g/t gold. A third hole drilled intersected 7.8 m at 4.7 g/t gold, including 0.6 m at 48.5 g/t gold.
"These recent drill results from the MG deposit confirm our hypothesis that extensive low-grade mineralization at Cuiú Cuiú surrounds high-grade gold mineralization which is continuous down-dip and along strike in several areas,” CEO Alan Carter told shareholders in a statement.
“This represents a step change in our understanding regarding the distribution of gold mineralization and may explain why Cuiú Cuiú produced so much placer gold during the Tapajos gold rush from 1978 to 1995."
The Vancouver-based junior drilled a total of five holes as part of its Phase II campaign. Additional results are expected later this month.
Shares in Toronto added 10% to C$0.11 in early deals.
---Updates for share price---
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas