Cabral Gold Inc (TSX-V:CBR) reported that the latest drilling at its Cuiú Cuiú project in Brazil has further expanded the recently identified gold-in-oxide blanket at the Pau de Merenda (PDM) target.
The firm has reported results from a further ten reverse circulation (RC) holes, which have expanded the blanket to 900 metres (m) by 350m from 200m by 400m initially.
Cabral also noted that the work continued to define a north-west (NW) trending zone of higher grade gold mineralization, which is now 500m in strike length and still open.
"These additional RC drill results have again expanded the gold-in-oxide blanket at the PDM target at Cuiú Cuiú, and the mineralized zone is still open to the north and west," Alan Carter, Cabral's CEO, told investors in a statement.
READ: Cabral Gold continues to expand the MG gold-in-oxide blanket at Cuiú Cuiú gold district in Brazil
"Perhaps more significantly, these drill results further confirm the presence of a NW-trending zone of higher-grade gold-in-oxide mineralization which may represent an underlying primary gold deposit at PDM. If so, this could represent a significant extension to the Central gold deposit which is located 2.5km along strike to the south-east. Deeper diamond drilling is currently in progress aimed at testing for the presence of an underlying primary gold deposit," he added.
Assays from the latest holes include an intercept of 13m at a grade of 0.9 grams per ton (g/t) gold starting from surface in one hole and 10m at 0.6 g/t gold starting from 25m depth in another. Also hit was 1m at 6.2 g/t gold starting from 45m depth.
Previous drill results from the gold-in-oxide blanket at PDM have included 40m at a grade of 2.2 g/t gold.
The PDM target at Cuiú Cuiú sits around 2.5km north-west (NW) of the Central gold deposit at the project and comprises a significant gold-in-soil anomaly.
Cabral also updated on drilling elsewhere in the district, saying that diamond drilling to define the high-grade zones within the primary basement MG gold deposit was continuing, while the company awaits assays from 42 RC holes at MG designed to test the extent of the gold-in-oxide blanket.
Results are also pending on five diamond-drill holes from a planned six-hole program at Pau de Merenda which are designed to test for a primary gold deposit in the basement intrusive rock underlying the gold-in-oxide blanket, it added.
Diamond drilling has started at the Central gold deposit aimed at defining the high-grade zones within the deposit. A total of 43 holes are planned totaling 5,400m, Cabral said.
Results are currently pending on five diamond drill holes, 3km south-east (SE) of the MG gold deposit. Twenty-three samples of this boulder float material previously returned gold values of between 11.6 g/t and 200.3 g/t, it also noted.
Contact the author at giles@proactiveinvestors.com