Cabral Gold Inc (TSX-V:CBR) said it has identified another gold-in-oxide blanket at the Pau de Merenda target near the Cuiú Cuiú project’s Central gold deposit.
The company noted that drilling at Pau de Merenda (PDM) returned several mineralized intercepts including 40 metres at 2.2 grams per ton (g/t) gold from surface, including 7 metres at 9.4 g/t gold and terminated in 2 metres at 23.8 g/t gold.
The results point to the presence of a second near-surface gold-in-oxide blanket at Cuiú Cuiú similar to the one identified at the MG deposit, Cabral told shareholders.
READ: Cabral Gold releases additional assays from its Cuiú Cuiú gold district in Brazil
Cabral has drilled 21 reconnaissance reverse circulation holes at PDM so far. According to drill results from 11 of those holes, the blanket has minimum dimensions of 400 metres by 200 metres and is open in all directions.
"We are absolutely thrilled to be reporting these drill results from near-surface unconsolidated material at the PDM target which is located just 2.5 kilometres northwest of the Central gold deposit,” Cabral CEO Alan Carter said in a statement.
“When we first identified the presence of a gold-in-oxide blanket at surface above the MG deposit in mid-April of this year, we predicted that we would make additional discoveries of this type at Cuiú Cuiú, and the initial results from the PDM target are confirmation of that belief,” Carter added, noting that the blanked contains some “very high-grade” intercepts.
“The identification of this new blanket obviously also raises the possibility of a significant underlying primary gold deposit akin to MG, which will also require drilling in the coming months,” the CEO concluded.
At the Miraboa target, Cabral said results are pending on a total of 22 vertical holes, which were drilled to a maximum depth of 80 metres.
Cabral has a 100% interest in the Cuiú Cuiú gold district located 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 0.90 g/t or 200,000 ounces and inferred resources of 19.5 million tons at 1.24 g/t or 800,000 ounces.
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