Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF)("Cabral" or the "Company") is pleased to announce trench results from the Jerimum Cima target and the identification of a fifth gold-in-oxide blanket within the Cuiú Cuiú Gold District, Brazil.
Highlights
- Surface trench CT050 at the Jerimum Cima target at Cuiú Cuiú returned 18m @ 1.9 g/t gold including 1m @ 22.8 g/t gold in weathered gold-in-oxide blanket material at surface. The trench also returned results of 0.8m @ 47.6 g/t gold (which remains open), 3m @ 0.5 g/t gold, 2m @ 0.3 g/t gold, and 1m @ 2.4 g/t gold
- These results, together with previous reconnaissance drilling, indicate the presence of a fifth gold-in-oxide blanket at Cuiú Cuiú which appears to extend over an area of 900 x 1000 metres. The other gold-in-oxide blankets with Inferred and Indicated resources are Central, MG, PDM and Machichie. Only the Indicated resources at Central and MG were included in the recently released pre-feasibility study
- Previous reconnaissance drilling at the Jerimum Cima target, to the east of trench CT050 returned gold values of 14m @ 1.6 g/t gold, 20m @ 1.2 g/t gold, 10m @ 1.3 g/t gold and 24m @ 0.7 g/t gold in weathered gold-in-oxide blanket and saprolite material
Alan Carter, Cabral's President and CEO, commented, "The surface trench results from CT050 at the Jerimum Cima target confirm that we have a fifth gold-in-oxide blanket within the Cuiú Cuiúgold district. The results demonstrate the presence of extensive gold-in-oxide mineralization of excellent grade at Jerimum Cima. This is likely to have a very positive impact on the recent PFS study on a starter heap-leach operation which only considered mining gold-in-oxide material from the MG and Central gold deposits. The potential to upgrade Inferred material at both MG and Central and the likelihood of adding additional Indicated material with further material at the PDM and Machichie discoveries and now at Jerimum Cima, bode very well for growing the overall gold-in-oxide resource base. Furthermore, the presence of zones of higher-grade gold mineralization in the near surface saprolite to the east of the Jerimum Cima area that was previously targeted by the reconnaissance drilling, suggests that those zones of higher-grade mineralization may be more extensive than previously envisaged, with a high likelihood of extending into the underlying bedrock."
Brian Arkell, Cabral's VP Exploration and Technical Services said: "Jerimum Cima is actually one of four adjacent targets that we are exploring in the area where surface geochemistry and geophysics show high potential for discovery of near-surface gold-in-oxide mineralization. A large magnetic low in the Jerimum Cima area suggests extensive magnetite destruction in the intrusive host rocks which is one of the key indicators of alteration and mineralization at Cuiú Cuiú. In addition, much of the earlier scout drilling intercepted substantial zones of gold mineralization in both the weathered oxide layer and the underlying hard rock, including up to 45.6m @4.5 g/t gold in diamond drill hole CC-026 in hard rock east of Jerimum Cima. We are currently in the process of completing further surface exploration, including auger drilling plus additional trenching, and we are very eager to follow up with the next round of drilling."
Jerimum Cima Trench Results
As part of the current effort to increase the gold-in-oxide resource inventory at Cuiú Cuiú, the company is currently conducting a program of surface trenching and shallow RC drilling. Whilst this program aims at adding both Inferred and indicated resources of gold-in-oxide material, of particular importance is adding Indicated resources that can be included in the mine plan.
The Jerimum Cima target is located 3km ENE of the Central gold deposit and 3.5km NW of the MG gold deposit (Figure 1). The target is characterized by a very strong gold-in-soil anomaly of +100ppb gold covering an area of 900m x 1000m and is comparable with the gold-in-soil anomalies above the MG and Central gold deposits and the PDM and Machichie gold discoveries.
Figure 1 Map showing location of known gold-in-oxide blankets with resources; Central, MG, PDM and Machichie. The Jerimum Cima gold-in-oxide blanket is located approximately 3km ENE of the Central gold deposit and 3.5km NW of the MG gold deposit.
* Only Indicated resources at Central and MG were considered in the PFS released on 21st October 2024. The main exploration targets (yellow dots) and distribution of historic placer gold workings (pale yellow outlines) are also shown.
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Previous reconnaissance drilling at Jerimum Cima returned 39m @ 5.1 g/t gold in hard intrusive rock material as well as a number of shallower, lower-grade gold intercepts in gold-in-oxide material which include 14m @ 1.6 g/t gold, 20m @ 1.2 g/t gold, 10m @ 1.3 g/t gold, and 24m @ 0.7 g/t gold (Figure 2). Previous drilling was mainly focused on identifying a hard-rock gold deposit.
The recently completed trench CT050 was oriented NW-SE in the western part of the Jerimum Cima target, immediately west of previous reconnaissance drilling (Figure 2). The trench returned several zones of gold-in-oxide mineralization including:
- 18m @ 1.9 g/t gold, including 1m @ 22.8 g/t gold
- 0.8m @ 47.6 g/t gold (open)
- 3m @ 0.5 g/t gold
- 2m @ 0.3 g/t gold
- 1m @ 2.4 g/t gold
All of the mineralized zones in CT050 remain open along strike and at depth. It is notable that all of the mineralized zones in CT050 are co-incident with a magnetic low. The correlation of gold mineralization with magnetite destruction in the host intrusive rocks is well established and is a feature of all of the known gold deposits at Cuiu Cuiu, as well as the recent discoveries. The magnetic low centered on Jerimum Cima is open to the NNE as well as to the south where exploration is in the early stages. Initial auger soil samples in this southern area are anomalous with gold values up to 100ppb.
A second magnetic low, likely the same alteration system, occurs 100m to 200m east of Jerimum Cima. Earlier scout drilling in this area returned results of 46m @ 4.5 g/t Au and 33m @ 0.72 g/t Au in diamond-drill holes.
Whilst additional trenching and drilling is needed at Jerimum Cima in order to define a maiden resource, management is confident that Jerimum Cima represents a fifth zone of substantial gold-in-oxide mineralization within the Cuiu Cuiu district. This is likely to have a number of positive implications, particularly on resource growth, as well as potential additions to the gold-in-oxide starter operation.
The presence of high grades within wider intervals of lower grade mineralization within the oxide material also occurs at MG and Central and the Machichie discovery. The results from Jerimum Cima are very similar and provide clues to the underlying hard rock potential.
Figure 2: Map showing the Jerimum Cima target with historic RC and diamond drill holes and recently completed trench CT050 which returned 18m @ 1.9 g/t gold including 1m @ 22.8 g/t gold west of previous reconnaissance drilling. The same trench also returned 0.8m @ 47.6 g/t gold at the eastern extremity of the trench. Background is Total Magnetic Intensity reduced to pole. Terms: g/t = grams / tonne, m = metres, Au = gold
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About Cabral Gold Inc.
The Company is a junior resource company engaged in the identification, exploration, and development of mineral properties, with a primary focus on gold properties located in Brazil. The Company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil. Three main gold deposits have so far been defined at the Cuiú Cuiú project which contain National Instrument ("NI") 43-101 compliant Indicated resources of 12.29Mt @ 1.14 g/t gold (450,200oz) in fresh basement material and 11.11Mt @ 0.48 g/t gold (171,883oz) in oxide material. The project also contains Inferred resources of 13.63Mt @ 1.04 g/t gold (455,100oz) in fresh basement material and 12.22Mt @ 0.39 g/t gold (151,608oz) in oxide material. The resource estimate for the primary material is based on the NI 43-101 technical report dated 12th October 2022.The resource estimate for the oxide material is based on an NI 43-101 compliant estimate released on 21st October 2024 with an NI 43-101 compliant technical report expected to be filed within 45 days of the release date.
The Tapajós Gold Province is the site of the largest gold rush in Brazil's history which according to the ANM (Agência Nacional de Mineração or National Mining Agency of Brazil) produced an estimated 30 to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer gold workings in the Tapajós and produced an estimated 2Moz of placer gold historically.
Technical information included in this release was supervised and approved by Brian Arkell, B.S. Geology and M.S. Economic Geology, SME (Registered Member), AusIMM (Fellow) and SEG (Fellow), Cabral Gold's Vice President, Exploration and Technical Services, and a Qualified Person under NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "will", "expected" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
Notes
Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by FAA525. Analytical quality is monitored by certified references and blanks. Until dispatch, samples are stored under the supervision the Company's exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned to the Company and archived. Drill holes results are quoted as down-hole length weighted intersections.
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