leadf
logo-loader
viewCabral Gold Inc

Cabral Gold set for drilling at Cuiú Cuiú project in bid to define multiple high-grade deposits

Previous drilling at the property had already outlined a large low-grade resource, comprising the MG and Central deposits

Cabral Gold Inc -
Drilling is expected to continue through into mid-2021

Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) is poised for a minimum of 25,000 metres (m) of reverse circulation (RC) at its Cuiú Cuiú project in northern Brazil in a bid to define multiple high-grade gold deposits.

Drilling will initially focus on the Alonso, Medusa and Cilmar targets at the eastern part of the project, which have never been drill tested.

READ: Cabral Gold pinpoints possible gold source at the Climar target on its Cuiú Cuiú project in Brazil

In a statement, the firm noted that previous drilling at the property had already outlined a large low-grade resource, comprising the MG and Central deposits, with indicated resources of 5.9 million tonnes (Mt) at 0.9 grams per ton (g/t) for 200,000 ounces.

"Drilling completed during 2019 clearly demonstrates the presence of high-grade zones within the MG and Central deposits, and also increased the number of peripheral targets with high-grade gold drill intercepts to eight, suggesting the presence of a major district containing multiple gold deposits," the group said.

The drill rig will then be moved to the Machichie and Machichie East targets, which lie 600m and 800m respectively, north of the MG gold deposit, and where initial diamond drilling during 2019 returned encouraging results including 3.4m at a grade of 36.9 g/t of the yellow metal.

Additional drilling is also planned at the Central SE target located 1km southeast of the Central deposit, and where previous drilling returned 27m at 6.9 g/t gold and 8m at 8.4 g/t gold, Cabral added.

"Drilling is expected to continue through into mid-2021 and the target sequence is likely to change as drill results become available.

"It is considered highly likely that ongoing reconnaissance work in the Cuiú Cuiú district will generate additional targets. Turnaround times for analytical results are expected to be from 2-4 weeks."

A virtual-only format AGM, which will be conducted via telephone conference, will be held on September 9 at 10am, the firm also added in the statement.

Cabral shares added around 6% to C$0.35 on the day.

Contact the author at giles@proactiveinvestors.com

Quick facts: Cabral Gold Inc

Price: 0.51 CAD

TSX-V:CBR
Market: TSX-V
Market Cap: $48.5 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Cabral Gold Inc named herein, including the promotion by the Company of Cabral Gold Inc in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Cabral Gold latest results on Cuiu Cuiu show some great surface results

Cabral Gold (CVE: CBR-OTC: CBGZF) CEO Alan Carter joined Steve Darling from Proactive with news about the company that has seen some very positive surface results from the work they are doing at Cuiu Cuiu. Carter talks about the numbers they are seeing. He also addressed the first three holes...

1 week ago

2 min read