Cabral Gold Inc (TSX-V:CBR) has posted more encouraging drill results from the MG deposit at the Cuiú Cuiú project in Brazil, including higher grades than expected at its recently identified gold-in-oxide blanket.
The assays hail from eight reverse circulation (RC) holes and three diamond-drill holes. From the latter, one hole returned an intercept of 30 metres (m) 2.2 grams per ton (g/t) gold from surface, including and intercept of 8.2m at 6.6 g/t of the yellow metal.
In a statement, Alan Carter, CEO of Cabral told investors that the results from the initial metallurgical test hole within the overlying MG gold-in-oxide blanket, suggested that the "higher-grade portions of the blanket may be even higher grade than we previously envisaged".
Last month, the Vancouver-based explorer reported that a set of 20 RC drill holes had increased the surface area of the gold-in-oxide blanket by 11% to 40 hectares (Ha).
READ: Cabral Gold says it has extended the size of the gold-in-oxide blanket at the MG deposit by 11%
Another hole at the MG deposit hit 19.1m at 2.2 g/t gold from 85m depth including an intercept of 7m at 4.5 g/t gold, Cabral reported.
This hole ended in mineralization and appears to represent the western extension of the main mineralized zone at the primary MG gold deposit, said Cabral.
Carter said the results from this hole were "very significant and could add ounces in the western part of the primary MG gold deposit".
"The results that we are reporting today from the recent diamond drilling at MG suggest that historic drilling in the western part of the primary MG gold deposit failed to intercept the main mineralized zone," he added.
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.
Contact the author at giles@proactiveinvestors.com