Cabral Gold Inc (TSX-V:CBR) released new drill results from two promising gold targets at the Cuiú Cuiú gold district in northern Brazil.
A step-out diamond drill hole at the PDM target intersected basement mineralization, and returned 11.9 metres (m) at 3.3 grams per ton (g/t) gold, including 0.5m at 16.1 g/t gold and 1.2m at 16 g/t gold.
The hole is located 120m to the northwest of a previous hole that returned 22.4m at 4.8 g/t gold, including 1.35m at 62 g/t gold and 1.3m at 9.5 g/t gold, indicating that the new basement mineralized zone at PDM continues for at least 200m along strike, Cabral said.
READ: Cabral Gold outlines its plans for 2022 and provides a summary of 2021 successes at the Cuiú Cuiú gold district in northern Brazil
Results from another two holes drilled at the MG target also indicated the presence of gold-in-oxide mineralization over 100m east of the current known limit of the gold-in-oxide blanket.
"On the basis of these results, we have taken the decision to expand the diamond drill program at the PDM target and we look forward to further drill results from this exciting new mineralized zone at Cuiú Cuiú,” Cabral CEO Alan Carter said in a statement.
“In addition, the presence of gold-in-oxide mineralization over 100m east of the current eastern limit of the gold-in-oxide blanket at MG, opens up the possibility of significant additional oxide mineralization further to the east than previously thought.”
The latest result at PDM indicates that the mineralized zone can be traced along strike to the northwest, which Cabral called “highly encouraging”. The company said it is planning on drilling 13 additional diamond-drill holes totaling approximately 3,000m in order to determine the continuity and limits to the mineralized zone.
So far a total of eight diamond-drill holes have been completed at PDM as part of the current program, and results are currently pending on three additional holes.
Cabral also said that it is restarting drilling at its primary Central gold deposit, and will soon restart drilling at the MG gold deposit.
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