Cabral Gold Inc (TSX-V:CBR). announced that its Brazilian subsidiary has engaged Ausenco do Brasil Engenharia Ltda to commence a pre-feasibility study (PFS) on trial mining and leach processing of the near-surface gold-in-oxide saprolitic material at the Cuiú Cuiú project in northern Brazil.
The company said this comes after the completion of several months of internal scoping work by Cabral on the possibility of developing a trial mining operation and heap leach recovery circuit on the near-surface free digging gold-in oxide saprolitic material.
It noted that the PFS will be NI 43-101 compliant and will include mineral processing, mechanical, electrical and infrastructure design, hydrogeological and geotechnical studies and detailed financial analysis.
The work will be divided into five separate packages of work which will be completed successively, progress will be dependent on ongoing results, Cabral Gold said.
Additional metallurgical tests, drilling, geotechnical and hydrogeological studies, a LIDAR topographical program, and mine planning studies are expected to be carried out in parallel with the PFS, which is expected to be completed during 4Q 2023.
“This is a major milestone in the development of the company and builds on extensive internal work undertaken over the past six months,” commented Cabral CEO Alan Carter.
“It is aimed at exploiting the extensive free digging saprolite resource which sits above the much larger hard rock gold resources at Cuiú Cuiú. Ultimately, the objective is to eliminate the dependency on expensive and dilutive private placement financings in order to fund further exploration and drilling within the Cuiú Cuiú district aimed at expanding the current resource base."
Cabral Gold 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.
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