24 Nov Cabral Gold reports new assay results from Cuiú Cuiú district in Brazil
TSXV-listed Cabral Gold has reported a fresh set of assay results from the Cuiú Cuiú gold district in Northern Brazil, which have helped the company define a higher grade zone within its MG target.
Recent RC drilling at the MG gold-in-oxide blanket has defined a zone of higher grade gold mineralisation extending at least 700 metres East-West, and directly over the underlying primary gold deposit in granitic rocks at MG.
Results from the 20 additional holes, which were designed to further test the extent and continuity of the MG gold-in-oxide blanket, include: 46 metres at 1.3 g/t gold, 47 metres at 0.7 g/t, 48 metres at 0.5 g/t and 16 metres at 1.2 g/t.
These RC drill results from the MG gold-in-oxide blanket have increased the surface area of the blanket by a further 11% to 40 hectares. This represents a 100% increase to the initial estimated size of 20 hectares, Cabral said in its update to the market.
Alan Carter, Cabral President and CEO, said: “These RC drill results indicate that the recently identified gold-in-oxide blanket at MG contains a significant core of higher-grade gold mineralisation and provide further evidence that we have a significant new discovery on our hands.
“The fact that it is located at surface within unconsolidated, oxidised soil and sediments would suggest that it is likely to be very important in terms of the overall economic viability of the Cuiú Cuiú gold district.
“We look forward to receiving additional RC results from MG and the results of the recently announced metallurgical work, as well as diamond drill results from the primary gold deposits at MG and Central, and drill results from the PDM and Alonso targets.”