Cabral Gold Inc (TSX-V:CBR) released new assay results from its drilling campaign on the MG gold deposit that extends the main mineralized zone at depth.
Highlights from the nine holes released include one intersection of 9.1 meters (m) at 1.1 grams per ton (g/t) gold and 14m at 1.9 g/t gold, including 2.5m at 7.5 g/t gold.
Another hole returned 10.5m at 2.4 g/t gold, including 2m at 4.7 g/t gold, and 2.6m at 2.8 g/t gold, including 0.9m at 7.1 g/t gold, and 8.8m at 0.5 g/t gold.
READ: Cabral Gold continues to expand the MG gold-in-oxide blanket at Cuiú Cuiú gold district in Brazil
Two drill holes also intersected a recently identified mineralized zone at the footwall of the main MG deposit, where a previous drill hole intersected 18.1m at 4.3 g/t gold. Both mineralized zones remain open at depth, according to Cabral.
Two other holes intersected “significant” thickness of mineralization within the overlying gold-in-oxide blanked, indicating that the blanket remains open to the northeast, the company added.
"The drill results that we are reporting today from the diamond drilling at MG further extend the main mineralized zone at depth and confirm the presence of a significant mineralized zone within the footwall to the primary MG gold deposit,” CEO Alan Carter told shareholders in a statement.
Carter called the down-dip continuation of a significant mineralized zone in the footwall to the MG deposit “very encouraging”.
The CEO added: “Elsewhere at MG, the recent diamond drilling is corroborating the recent RC drill results and suggesting that the gold-in-oxide blanket at MG, which overlies the primary MG gold deposit, will continue to grow."
The MG deposit sits on the company’s flagship Cuiú Cuiú project in northern Brazil.
Vancouver-based Cabral is drilling several targets on the wider Cuiú Cuiú district, with results pending on many of the programs. The company said that two reconnaissance RC holes at the Miraboa target intersected “low grade but significant” gold values near surface that may indicate the presence of a near surface gold-in-oxide blanket similar to those identified at the MG deposit.
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