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Cabral Gold welcomes latest drilling at Central deposit at Cuiú Cuiú project; results suggest presence of more high-grade material than thought

Published: 08:27 07 Jul 2022 EDT

Cabral Gold Inc -
One hole intercepted a length of 20.9 metres (m) at a grade of 4.2 grams per ton (g/t) gold starting from a depth of 23.1m in oxidized and weathered material

Cabral Gold Inc (TSX-V:CBR) has told investors that it believes there is more high-grade material at the Central gold deposit at its Cuiú Cuiú project in Brazil than thought after drilling there as it released assays from ten holes from the southern part of the deposit.

"These latest high-grade drill results from the Central gold deposit indicate that at least two, possibly three high-grade veins exist within the broader Central gold deposit," said Alan Carter, Cabral's CEO in a statement.

"These zones extend up to surface and have been weathered, resulting in high-grade oxide material, which is very similar to the situation at the MG gold-in-oxide blanket, where a higher-grade core sits directly above the underlying primary gold deposit. These drill results imply the presence of more high-grade material at Central than previously thought in both the near-surface oxide mineralization and the underlying primary basement gold deposit," he added.

READ: Cabral Gold wins key permits for Cuiú Cuiú gold district in northern Brazil

One hole intercepted a length of 20.9 metres (m) at a grade of 4.2 grams per ton (g/t) gold starting from a depth of 23.1m in oxidized and weathered material. That included an intersection of 2m at 32.3 g/t gold from 35m depth and 3m at 4.8 g/t gold from 39m.

Another hole hit 5.6m at a grade of 4.5 g/t gold, from a depth of 167.8m. Additional highlights assays from the primary basement gold mineralization at the Central deposit, included 37.0m at 1.1 g/t gold from a depth of 80.7m, including 1.1m at 15 g/t gold, the company added.

Cabral noted that the latest drill results show "multiple parallel high-grade zones at Central that can be interpreted to extend along strike for at least 120m and extend to depths of greater than 350m".

The diamond drilling at Central has been designed to better establish continuity and define high-grade zones within the primary basement deposit, and explore for additional high-grade mineralization in parts of the current resource with a low historic drill density.

The work is also aimed to improve the definition of the near-surface gold-in-oxide mineralization, a portion of the deposit that was largely undrilled historically, added Cabral.

The company is a junior explorer with a primary focus on gold properties in Brazil. It has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil.

Two gold deposits have so far been defined at Cuiú Cuiú and contain 43-101 compliant indicated resources of 5.9 million tonnes (Mt) at 0.90 g/t for 200,000 ounces and inferred resources of 19.5Mt at 1.24 g/t for 800,000 ounces.

Contact the author at giles@proactiveinvestors.com

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on 30/9/22