The Vancouver-based explorer said recent surface sampling at the largely unexplored eastern portion of Cuiú Cuiú identified a previously unknown target called Alonso.
Cabral took 23 samples from surface boulders that returned gold values of between 11.6 to 200 grams per ton (g/t) gold. The average of all 23 samples was nearly 92 g/t gold, the company said in a statement.
The results represent an exciting new target on the Cuiú Cuiú property, where Cabral’s exploration efforts have already resulted in two high-grade gold discoveries.
“These surface results from the new and previously unknown Alonso target located just 3km SE of the MG gold deposit, are truly spectacular and unprecedented in our exploration efforts at Cuiú Cuiú,” Alan Carter, Cabral’s CEO said in a statement.
“Whilst I must stress that it is very early days for this target, the fact that we are finding highly anomalous levels of gold in streams up to 1.5km west of the discovery location suggests this target could be very significant,” Carter said.
“These results, together with our recent drill results from MG and Central, confirm the presence of significant high-grade mineralization at Cuiú Cuiú.”
Additional blocks and boulders of quartz vein material have also been identified in the vicinity of the discovery, the company told shareholders. Streams draining the area to the west only about a kilometre from the discovery location are all also highly anomalous in gold.
Cabral said its exploration team is working to determine the size of the footprint of the Alonso target and is currently undergoing a detailed soil sampling grid over the target, as well as more detailed stream sediment sampling.
Shallow auger drilling may also be required in advance of drilling in the event that post-mineral cover is identified over the area, it said.
Shares of Cabral traded at C$0.11 on Tuesday morning.
Contact Angela at [email protected]
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