Cabral Gold Inc (CVE:CBR) (CVE:CBR.V) has unveiled further encouraging exploration results from the promising Alonso target at its Cuiú Cuiú gold project in Brazil, which it said underscores the property's district potential.
In a statement, the firm also updated on measures it was taking in the light of the coronavirus pandemic.
Cabral said it has identified visible gold in trenching work showing an east-west trending quartz vein, which lies just next to the area where 24 rock samples from boulders returned highly anomalous gold values.
As reported in February, these held gold values were 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.
In addition, the group added, further mineralization was observed in bedrock 25 meters north of this outcropping vein, which suggests the presence of a broader mineralized zone associated with a prominent East-West trending magnetic anomaly.
"The identification of visible gold in an outcropping quartz vein adjacent to the area of abundant quartz-pyrite boulders at Alonso is an important step forward in identifying the source of the quartz boulders which recently returned gold values of 11.3 to 200.3 g/t gold," said Alan Carter, Cabral's president and CEO.
"Furthermore, the possible presence of a broad mineralization halo extending at least 25m to the north of the main vein structure suggests that the style of gold mineralization at Alonso is similar to the two main existing gold deposits at MG and Central. This further supports the conclusion that Cuiú Cuiú is an emerging district containing multiple gold deposits," he added.
Due to the coronavirus outbreak, Cabral said it had temporarily closed both of its offices in Vancouver, Canada and Itaituba, Brazil. All staff are currently working from home.
It has also suspended all fieldwork at the Cuiú Cuiú project for at least 14 days following local health authority recommendations but will continue to provide support to the local community
"Our priority is the health and safety of our employees, their families and the local community. Cabral Gold will continue to monitor the COVID-19 situation and adjust plans as the situation evolves," Carter concluded.
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