Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) (FRA:C3J) reported drill results from the Machichie NE target at its Cuiú Cuiú gold project in Brazil, which shows another potentially significant mineralized structure just 150 metres (m) north of the Machichie discovery.
Assays from four follow-up holes included 8m at 3.3 grams per ton (g/t) gold, 17m at 0.8 g/t gold, including 4m at 2.9 g/t gold, and 26m at a grade of 0.5 g/t of the precious metal.
READ: Cabral Gold releases sampling results from Jerimum Meio target on the Cuiú Cuiú project showing high-grade gold mineralization at surface
"Whilst it is early days for this particular target, the close proximity to the recent Machichie discovery, and the fact that gold mineralization continues down-dip and extends along strike for at least 100m, suggests we could be on to another significant mineralized zone," noted Cabral's CEO Alan Carter in a statement.
"Further drilling will be necessary to determine the size of the mineralized zone at this exciting emerging target.
"The Cuiú Cuiú district continues to both surprise and deliver exciting new targets, and we look forward to additional drill results on a number of high-grade targets in the coming months outside of the two known deposits of MG and Central."
Step-out drilling completed in December last year at the Machichie discovery had returned 34m at 5.4 g/t gold. Here, a large drill rig is currently back at the main E-W trending Machichie mineralized zone
Four further holes have been completed, extending drill coverage an additional 200m east and assays are pending.
Following the completion of the next hole, the rig will move further west along the main Machichie structure to complete several in-fill holes and step-out holes. It will then focus on drilling a number of the NE trending high-grade vein structures exposed on surface in the Machichie SW target area located between Machichie and the MG gold deposit, the firm said.
Cabral has a 100% interest in the Cuiú Cuiú gold district in the Tapajós region, within the state of Pará in northern Brazil.
Two gold deposits have so far been defined at Cuiú Cuiú and contain 43-101 compliant indicated resources of 5.9 million tons at 0.9 g/t for 200,000 ounces of gold and inferred resources of 19.5 million tons at 1.2 g/t for 800,000 ounces.
Contact the author at giles@proactiveinevstors.com