Vancouver, British Columbia – May 19, 2021 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) (OTC: CBGZF) is pleased to provide assay results from several recently completed diamond drill holes at the MG gold deposit, and several reconnaissance RC holes at the JM target within the Cuiú Cuiú gold district in northern Brazil.
Highlights are as follows:
- DDH-214 drilled at MG returned 60m @ 3.5 g/t gold including 2.6m @ 64.6 g/t gold from surface, suggesting that parts of the recently identified mineralized blanket at MG are significantly thicker and higher grade than initially envisaged. This intercept represents the thickest and highest-grade mineralized intercept to date from the oxide gold blanket which overlies the underlying and sub-vertically dipping MG gold deposit
- DDH-214 also intersected 4.7m @ 3.7 g/t gold in basement from 72.1m depth including 2.2m @ 7.3 g/t gold from 74.6m
- The high-grade intercept in the overlying oxide gold blanket from DDH-214 is interpreted to be the eroded equivalent of the MG basement gold mineralization, and lies above the high-grade zone previously intersected in DDH-199 which returned 16.9m @ 9.6 g/t gold in basement rocks
- DDH-212 and DDH213 were drilled on the same section as DDH-214 at MG 75m to the north and intersected 29.5m @ 0.5 g/t gold and 30m @ 0.5 g/t gold respectively from surface and within the unconformable oxide blanket
Alan Carter, Cabral’s President and CEO commented, “These latest results from the diamond drilling at the MG deposit suggest that the recently identified mineralized oxide blanket which has resulted from weathering and overlies the MG deposit, contains much higher-grade zones than we previously envisaged and over thicker intervals. This gold mineralization occurs at or close to surface in free-digging material, much of which was assumed to be sterile in the last resource estimate completed in 2018. I said a few weeks ago that the identification of this oxide blanket could be a game changer, and these results support this view. We expect that it could significantly add to the MG resource and we are now considering the possibility of identifying other oxide gold blankets elsewhere in the Cuiú Cuiú gold district.”
MG Diamond Drilling
Assay results were returned on three additional diamond drill holes (DDH 212, 213 and 214) which were recently completed at MG as part of the current diamond drill program designed to define the limits to the high-grade zones within the existing MG and Central deposits at Cuiú Cuiú. All three holes were drilled on the same section which is located 50m east of the previous section where the recently reported diamond drill holes, 208, 209, 210 and 211 were drilled (see press releases dated April 15 and April 29, 2021).
DDH-214 was drilled above and 30m south of hole DDH-199 which returned 16.9m @ 9.6 g/t gold within highly altered but unoxidized basement rock. DDH-214 was mineralized from surface on a consistent basis and returned 60m @ 3.5 g/t gold including 2.6m @ 64.6 g/t gold from 40m depth (Figures 1 and 2).
This intercept represents the thickest and highest-grade mineralized intercept to date from the laterally extensive, flat-lying mineralized oxide gold blanket which overlies the sub-vertically dipping and underlying MG hard rock gold deposit.
DDH-212 and DDH-213 were drilled from the same platform 75m due north of DDH-214. DDH-212 was drilled towards the south at 60 degrees and returned 29.5m @ 0.5 g/t gold from surface whilst DDH-213 was drilled towards the south at 50 degrees and intersected 30m @ 0.5 g/t gold from surface. These results suggest that the mineralized oxide blanket at MG extends a significant distance north and south of the projected surface outcrop of the underlying and steeply dipping hard-rock gold deposit at MG (Figures 1 and 2). The blanket mineralization remains open to the north and south.
Whilst further drilling of this flat-lying oxide blanket at MG is needed, drilling to date suggests that the blanket extends at least 200m north and south of the margins of the MG deposit and appears to cover an area of approximately 500m x 400m. It is also becoming clear that this oxide blanket clearly has higher grade zones within it. Most of this unconsolidated near surface material was previously assumed to be barren in the 2018 resource estimate, but it is obviously a significant mineralized gold zone in its own right.
All three diamond-drill holes also encountered basement mineralization in fresh rock. DDH-214 also intersected 4.7m @ 3.7 g/t gold in basement from 72.1m depth, including 2.2m @ 7.3g/t gold from 74.6m. DDH-212 cut 37m @ 0.39 g/t gold from 151.8m, including 1.5m @ 4.2 g/t gold from 164.0m downhole. DDH-213 returned 18.1m @ 0.36 gold from 132.9m. These intercepts expanded the vertical extent of the main MG basement mineral zone (Figure 2).
Two of the holes also returned deeper footwall intercepts, interpreted to be the on-strike extension of the recently identified 104 Zone in basement. DDH-213 returned 4.5m @ 1.9 g/t gold from 224.3m near the base of the hole, while DDH-214 cut 4.8m @ 0.4 g/t (Figure 2). Drill results from three holes approximately 50m to the west on Section 553655 returned 2m @ 70.2 g/t gold (including 0.5m @ 264.9 g/t gold), 2.1m @ 29.4 g/t gold (including 0.5m @ 120.6 g/t gold), and 6m @ 1.3 g/t gold, respectively (see press release dated April 15, 2021).
Drill results are pending on additional diamond drill holes, drilled on section 50m further west, and aimed at testing the high-grade zones at MG and the extent of the gold-in-oxide blanket. The drill program is continuing.