Cabral Gold Inc (TSX-V:CBR) said assay results from recent drilling at its Pau de Merenda (PDM) target at the Cuiú Cuiú gold district in northern Brazil suggest the presence of a much larger gold-in-oxide blanket than previously envisaged.
In a drilling update, the junior resource company said results from ten additional reconnaissance RC (reverse circulation) drill holes at PDM have expanded the recently identified gold-in-oxide blanket to 800 x 300 metres (m) in size. The blanket remains open in three of four directions, the company added.
READ: Cabral Gold says it has identified a new gold-in-oxide blanket at Cuiú Cuiú with high-grade results
"The surface extent of this blanket now exceeds the size of the nearby gold-in-oxide blanket, which overlies the nearby primary gold deposit at MG, and obviously begs the question as to where all of the gold in the blanket is being eroded from,” president and CEO Alan Carter said in a statement.
“Further drilling to define the limits of this blanket is currently in progress, and diamond drilling is planned in order to test for the presence of a primary gold deposit beneath the gold-in-oxide blanket,” he added.
The PDM target is located about 2.5 kilometres northwest of the central gold deposit at Cuiú Cuiú and comprises a significant gold-in-soil anomaly.
Cabral said assay results are pending on six follow-up RC holes completed within the Machichie south-west vein array where a series of northeast-trending vein structures have been mapped. Previously returned high-grade drill results include 3.4m at 36.9 grams per ton (g/t) gold and 3m at 13.2 g/t gold.
At the MG gold deposit, assay results are currently pending from eight diamond drill holes and 38 RC drill holes. Assay results are also pending on several holes at its Mira Boa target.
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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