The Vancouver-based exploration firm said that 24 samples from a group of boulders at Alonso held gold values ranging from 11.6 grams per ton (g/t) to 200.3 g/t gold for an average grade of 91.7 g/t gold.
Cabral’s work at Alonso continues to expand the footprint of the anomaly with highly elevated gold counts in panned stream sediments further to the west and south of the original showing, CEO Alan Carter said in a statement.
READ: Cabral Gold unveils exciting new exploration target averaging 92 grams per ton gold at Cuiu Cuiu
Carter told shareholders that the recognition of highly anomalous silver and copper values “raises the potential” of finding a nearby porphyry source.
The last sample collected at Alonso – the 24th – returned 82 g/t gold.
The explorer also acquired a reverse circulation (RC) drill rig capable of sinking holes of up to 200 metres, allowing Cabral to quickly evaluate Alonso and other regional targets. The rig will also be used for drilling high-grade zones previously identified at the Central and MG deposits.
Cabral secured the rig for US$125,000 and estimates its drill costs could be as little as 10% of the cost of diamond drilling, or around US$25 per metre. The rig will be available during the second quarter of 2020.
“The acquisition of the ASV ST-50 RC drill rig represents a transformational change in our exploration efforts and will enable us to drill significantly cheaper and more quickly than previous diamond drilling programs,” Carter said.
Cabral said its exploration team is continuing to determine the size of the footprint of the Alonso target. Results from that work, as well as additional results from the Cilmar area just north of Alonso, are expected to come in March.
Cabral will also be showcasing at the annual PDAC event in Toronto between March 1 and 4, where it will be exhibiting samples from the Alonso target.
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