Exploration on Brazilian Gold Project Identifies High-Priority Target [CBGZF, CBR]

An auger drill campaign is returning some of the highest values seen so far on the project.

Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTC.MKTS) provided an exploration update on the Cuiú Cuiú Project located in Pará State in northern Brazil, where the company has identified new high-priority target extending southeast along strike from the Central gold resource, noted the company in a news release.

“Auger drilling to the southeast of the Central deposit which contains 485,000 oz (Indicated resources of 5.9MMt @ 0.9 g/t Au + Inferred resources of 8.7MMt @ 1.1 g/t Au) has identified a broad gold-in-saprolite anomaly of +100ppb Au, extending 250m across strike in a north-south direction,” stated Cabral.

The anomaly has been found 1km southeast of the Central deposit and 550m east-southeast of drill hole CC138-11, which intersected 6.9 g/t Au over 27 meters. The anomaly is well outside the current resource at Central and is open in all directions.

“The auger line is located east of the limit of previous exploratory drilling and extends the Pau de Merenda – Central mineralized corridor by at least 1km. The position represents a priority target to test for extensions to the Central deposit,” noted the company.

The company’s current exploration program includes a campaign of auger drilling designed to test for mineralized saprolite (weathered bedrock) following the recent recognition of widespread younger transported sedimentary cover in the area. Recent work has demonstrated that mineralized zones that exist below this transported sedimentary cover result in weak to no gold-in-soil geochemical responses, said the company.

A new Central SE target is located southeast of the Central deposit and northwest of the MG and JB gold deposits at Cuiú Cuiú. The company’s auger program previously defined a target corridor extending northwest from the Central deposit, which contains 485,000 oz (Indicated resources of 5.9MMt at 0.9 g/t Au and Inferred resources of 8.7MMt at 1.1 g/t Au).

“This extensional target corridor (and the area of the gold resource itself) is defined by a gold anomaly 100 ppb Au, coupled with positive gold counts from panned auger drill samples,” stated the company. “The target corridor extends over a 4km strike length to the NW. The current follow-up program was designed to test for the extension of the mineralized corridor to the southeast. Four historical diamond drill holes have tested the interpreted projection of the trend in this area, for which the best result was 6.9 g/t Au over 27m from drill hole CC138-11.”

According to the company, a north-south auger line was completed as a step-out 1 km along strike from the Central resource envelope, and 550 meters ESE of the 6.9 g/t Au over 27m intersection.

“Holes were completed at 50m spacings along a 250m N-S line with the objective of testing for extensions to the Central mineralized stockwork system over areas to the SE lacking any surface exposure. Each auger hole drilled along the line returned positive gold counts and reported results above the >100 ppb Au in saprolite to a maximum of 324 ppb Au,” Cabral reported. “The anomaly is open to the north and south and to the east and west and represents a strong target for stockwork-style mineralization associated with the Central trend. Additional auger sampling is planned to define the extent of this anomaly.”

“These auger results from Central SE are some of the highest values we have seen in the 319 auger drill holes completed thus far at Cuiú Cuiú,” stated Alan Carter, Cabral’s president and CEO. “We believe they are highly significant and suggest that the Central deposit, which contains 485,000 oz (Indicated resources of 5.9MMt @ 0.9 g/t Au + Inferred resources of 8.7MMt @ 1.1 g/t Au) may extend to the south east. Further lines of auger drill holes will test for extensions to the trend, particularly in the undrilled 3km corridor converging towards the MG resource. The current exploration program continues to identify compelling step-out targets in our key resource corridors, and we are confident the program will continue to lead us to additional source areas for the extensive alluvial workings extending through the project area.”

[NLINSERT]

Disclosure:

1) John McPhaul compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an employee. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Cabral Gold. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Cabral Gold, a company mentioned in this article.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

*