Cabral Gold Inc (TSX-V:CBR) has released new assay results from the PDM target at the Cuiú Cuiú gold project in northern Brazil showing high-grade gold intersections beneath the recently identified gold-in-oxide blanket.
Results included 22.4 meters at 4.8 grams per ton (g/t) gold, including 1.35 meters at 62 g/t gold and 1.3 meters at 9.5 g/t gold.
Cabral said that drilling has confirmed the PDM gold-in-oxide blanket is underlain by a “significant” zone of high-grade mineralization in the underlying rocks.
READ: Cabral Gold reports promising assay results from MG gold-in-oxide blanket and identifies new gold anomaly north of Alonso at Cuiú Cuiú in Brazil
The newly mineralized zone extends at least 200 meters along strike, trending in a northwest-southeast direction and dips steeply towards the southwest. It is open in every direction and along strike from the nearby Central gold deposit, according to Cabral.
"When we first identified the second gold-in-oxide blanket at PDM in August of this year, we predicted that there would be a zone of primary gold mineralization in the granitic basement rocks underlying the blanket, similar to the situation that we have at the nearby MG gold deposit,” Cabral CEO Alan Carter said in a statement. “This stunning high-grade intercept from DDH238 at PDM proves our original hypothesis.”
Carter told investors that the zone represents a significant new discovery within the Cuiú Cuiú golddistrict, adding that it will require an “aggressive” program of follow up drilling.
“I would like to take this opportunity to congratulate our exploration team in Brazil on a brilliant new discovery,” the CEO said.
Drilling is also ongoing at the Central deposit, with results pending in eight out of 43 planned diamond drill holes, and at the MG deposit, with results expected on another 10 holes.
Cabral’s flagship Cuiú Cuiú project 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 Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas