Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) (FRA:C3J) announced that it has identified what it called a “compelling” new drill target at Indio within the company’s Cuiú Cuiú gold district project in Brazil.
Cabral noted that reconnaissance surface sampling at the Indio target returned gold values from quartz-sulphide float material of up to 137.8 grams per tonne (g/t) gold.
The company also said a northeast-trending vein structure has been identified in reconnaissance drilling at the Tracaja target, where a total of seven reconnaissance RC holes have been completed to date.
“The identification of a NE-trending mineralized vein system at Tracaja is significant and gives us a mineralized structure that we can now trace along strike and down-dip in order to determine which part of the structure is the source of the high-grade blocks found on surface,” Cabral Gold CEO Alan Carter said in a statement.
READ: Cabral Gold releases another batch of high-grade gold results from drilling at two targets on its Cuiú Cuiú project in Brazil
He added: “It is important to note that our reconnaissance drill program continues in parallel with follow up drilling using a larger contract RC rig, which is having excellent success at the Machichie target.”
“The Cuiú Cuiú district was not the largest placer gold area in the world's third-largest placer gold region for no reason, and our exploration program is only just starting to reveal the grade and size of this exciting gold district.”
Cabral said 19 surface grab samples collected from the edge of historic placer workings at Tracaja in November 2020, returned gold values of 24.2 g/t to 165.0 g/t gold and averaged 74.9 g/t gold.
It added that reconnaissance drilling at Indio, which will comprise an initial six holes targeting the historic workings, will begin within the next few days.
Furthermore, Cabral said its Phase I drilling is now complete at Tracaja, with results pending for Hole 53, which was drilled to test across-strike from the principal vein trend.
Cabral Gold is developing its 100%-owned Cuiú Cuiú gold project located in the Tapajós Region, within the state of Pará in northern Brazil. The Tapajós Gold Province is the site of the largest gold rush in Brazil's history, producing an estimated 30 to 50 million ounces of placer gold between 1978 and 1995.
Contact Sean at sean@proactiveinvestors.com