Cabral Gold Inc (TSX-V:CBR). has provided assay results from an additional 17 reverse circulation (RC) holes at the MG gold-in-oxide blanket at the Cuiú Cuiú gold district in northern Brazil.
The company said the RC drill holes were designed to test the extent and continuity of the MG gold-in-oxide blanket which overlies the primary MG gold deposit.
Based on these results, the surface area of the blanket has been expanded by at least 20%, to a total of 24 hectares.
READ: Cabral Gold says it has now identified nine high-grade veins at the Machichie SW target at Cuiú Cuiú project
Cabral said highlights of the assay results include:
- Significant results on several sections through the blanket include 66 meters (m) at 0.7 grams per ton (g/t) gold, 24m at 0.8 g/t gold, 23m at 0.6 g/t gold, and 12m at 0.8 g/t gold.
- The most easterly hole drilled to date (RC160) returned 23m at 0.6 g/t gold and the gold-in-oxide blanket mineralization remains open in almost every direction.
- RC161 also returned 17m at 1.0 g/t gold including 1m at 7.5 g/t gold in the underlying primary MG gold deposit.
Cabral added that as a result of these encouraging results, the drill program at the MG gold-in-oxide blanket has been expanded from the initial 74-hole program to a total of 86 planned holes of which eight will be diamond drill holes
"Our RC drilling program at the MG gold-in-oxide blanket continues to surprise us by delivering results which suggest the gold-in-oxide blanket in unconsolidated material above the MG gold deposit at Cuiú Cuiú, is larger than we previously anticipated,” said Cabral CEO Alan Carter in a statement.
“The recent drilling has expanded the surface footprint of the gold mineralization in this blanket by 20% to 24 hectares and it is still open in almost every direction. These results continue to suggest the presence of a significant deposit in unconsolidated material which has resulted from the partial erosion of the underlying hard-rock MG gold deposit.”
Carter added: “With five drill rigs currently turning on site and an aggressive 30,000 meter drill program planned at Cuiú Cuiú for the coming months, we look forward to additional drill results from both the MG and Central gold deposits and a number of the other 43 mainly high-grade targets that occur outside the two known gold deposits."
Conference schedule
Meanwhile, the company said CEO Carter will be attending the Swiss Mining Institute Conference on November 2-4, 2021. The invitation-only virtual conference presents selected mining companies to over 400 selected asset managers, fund managers, and other professional investors from all over the world.
He will also be hosting private meetings at the 121 Mining Investment Conference in London in person on November 17-18, 2021. Over 500 qualified investors from across Europe will be attending the event.
And the company will also be connecting with European investors at the Mines and Money Conference, one of Europe's largest mining investment and capital raising events. The event is taking place in London on December 1-2, 2021.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham