Cabral Gold Inc (TSX-V:CBR) has revealed new results from the MG deposit at its Cuiú Cuiú project that it says outlines a higher-grade gold zone within the target.
The Vancouver-based explorer said that the recent set of 20 reverse circulation drill holes have increased the surface area of the gold-in-oxide blanket another 11% to 40 hectares.
Assay results from the latest round of drilling include 46 meters (m) at 1.3 grams per ton (g/t) gold, 47m at 0.7 g/t gold, 48m at 0.5 g/t gold, 16m at 1.2 g/t gold, 20m at 0.8 g/t gold, and 14m at 0.9 g/t gold.
READ: Cabral Gold sets sights on promising Central trend for new discoveries in the Cuiú Cuiú gold district
The gold-in-oxide blanket remains open in several directions, Cabral told investors, and drilling of the higher-grade portions of the underlying MG primary gold deposit is in progress.
"These RC drill results indicate that the recently identified gold-in-oxide blanket at MG contains a significant core of higher-grade gold mineralization and provide further evidence that we have a significant new discovery on our hands,” CEO Alan Carter said in a statement.
“The fact that it is located at surface within unconsolidated, oxidized soil and sediments would suggest that it is likely to be very important in terms of the overall economic viability of the Cuiú Cuiú gold district.”
Cabral is currently drilling multiple targets across the wider Cuiú Cuiú gold district, including more areas at MG and the primary gold deposits at MG and Central, and the PDM and Alonso targets.
The firm is also expecting metallurgical test results from MG.
Cuiú Cuiú is in the Tapajós gold province of northern Brazil. Cabral has a 100% interest in the project, which contains 43-101 compliant Indicated resources of 5.9 million tons at 0.90 g/t for 200,000 ounces and Inferred resources of 19.5 million tons at 1.24 g/t for 800,000 ounces.
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