Cabral Gold Inc (TSX-V:CBR) said it has now identified nine high grade veins at the Machichie SW target at its Cuiú Cuiú gold project in Peru, following the latest drilling which has identified three new ones.
The firm has posted results from six reverse circulation (RC) holes, which were sunk to follow up on limited drilling at the target, but which returned high-grades including an intercept of 3.4 metres (m) at 36.9 g/t gold and 3.3m at a grade of 7.4 g/t of the yellow metal.
Today's drill highlights included a length of 1m, starting at a depth of 51m, which hit 18.5 g/t gold. Another hole intersected 3m at 2.8 g/t gold starting from 95m depth.
"The recent drilling at the Machichie SW vein array has increased the number of known NE trending high-grade veins from six to nine and more importantly is demonstrating down-dip continuity of high gold grades," Alan Carter, Cabral's CEO told investors in a statement.
"The Machichie SW target area is critically important because it is located midway between the MG gold deposit (300m to the south) and the recently identified E-W trending mineralized zone at Machichie 180m to the north.
READ: Cabral Gold receives ‘significant results’ from its follow-up drill targeting the Cuiú Cuiú gold district in northern Brazil
"We look forward to the results of additional drilling on this target as we continue to outline the dimensions of the various veins at Machichie SW."
In 2020, Cabral identified a north-east (NE)-trending high grade vein set of at least six individual vein structures at the Machichie SW target and the recent holes were to test for additional parallel veins, and to determine the down-dip continuity of high-grade gold mineralization.
Prior to the most recent drilling, only six NE trending veins had been identified in the area, which from west to east are called Filao de Amor, Machichie SW, Zezinho, Hamilton Novo, Maranahao W and Maranahao E.
Updating on drilling in the district, Cabral also said diamond drilling at the MG gold deposit was continuing with assays pending on five holes. In addition, RC drilling designed to define the extent of the recently identified gold-in-oxide blanket at MG was continuing, while assays from 37 holes are pending.
Results are also pending on ten RC holes drilled to define the limits of the gold-in-oxide blanket at Pau de Merenda (PDM), said Cabral, and it is also awaiting results from one diamond-drill hole from a planned six holes at Pau de Merenda, designed to test for the presence of a primary gold deposit in the basement intrusive rock underlying the gold-in-oxide blanket.
Results are also currently pending on three diamond drill holes, while drilling is also in progress at the Alonso target which sits 3km south-east (SE) of the MG gold deposit, the company said.
Junior explorer 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 indicated resources of 5.9Mt at 0.90g/t (200,000 oz) and inferred resources of 19.5Mt at 1.24g/t (800,000 oz).
Contact the author at giles@proactiveinvestors.com