Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) (FRA:C3J) said a third rig has been added to its 5,000 metre (m) diamond drill program at the Cuiú Cuiú gold project in Brazil.
The drill will initially focus on the high-grade zones at both the MG and Central gold deposits where previous drilling has returned over 70 drill intercepts in excess of 10 grams per ton (g/t) of gold.
The aim is to further define the size and grade of these high-grade zones.
READ: Cabral Gold drilling identifies another potential target near Machichie discovery in Brazil
"The arrival of a third rig at Cuiú Cuiú further expands the current drill program and allows us to address the third aspect of the high-grade potential of the project, namely the high-grade potential of the existing MG and Central deposits," said Alan Carter, Cabral's CEO in a statement.
"Establishing high-grade resources at Cuiú Cuiú is a key objective for our team in the short to medium term. With follow-up drilling already in progress at Machichie, and reconnaissance drilling of several additional high-grade targets expected to recommence in a few days, the next few weeks and months promises to be a very exciting time in terms of drill results for Cabral Gold and its shareholders."
Last week, the company reported assays from the Machichie NE target, which showed another potentially significant mineralized structure just 150m north of the Machichie discovery.
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@proactiveinvestors.com