Cabral Gold Inc (TSX-V:CBR) revealed that the latest drilling at its gold project in Brazil has located a third gold-in-oxide blanket, adding to the potential resources at the property.
The assays hail from an initial 12 reverse circulation (RC) holes and three diamond drill holes sunk within and above the Central gold deposit.
"The results from the initial drilling at the Central gold deposit clearly demonstrate that we have a significant zone of gold-in-oxide mineralization forming a blanket above the primary Central deposit. This is the third gold-in-oxide blanket identified at Cuiú Cuiú since the initial discovery at MG in April of last year, and these recent discoveries are in addition to the two existing hard-rock deposits with resources at Cuiú Cuiú," Alan Carter, Cabral's CEO, told investors.
"At this stage, we do not know the extent of the blanket or how much of this material at Central is in-situ weathered primary gold mineralization, and how much is transported cover material. Nevertheless, both types of material are expected to add significantly to the inventory of potentially leachable gold-in-oxide deposits recently identified at MG and PDM.
"Additional drilling over the next months is expected to further define the limits of the oxide material at Central, whilst providing further definition of the high-grade zones within the underlying primary deposit at Central."
READ: Cabral Gold unveils new high-grade gold assays from two key targets on its Cuiú Cuiú project in Brazil
Among notable results were those from a hole that returned an intercept of 26 meters (m) at a grade of 0.4 grams per ton (g/t) gold in oxidized material from surface. This result, one from an initial 10 shallow holes drilled within and around the northern part of the Central deposit, revealed a 'thin but consistent' gold-in-oxide blanket, said Cabral.
Another diamond drill hole at the Central deposit hit 55.1m at a grade of 1.1 g/t gold from 4.9m depth, including 5m at 6.1 g/t gold.
The Central gold deposit at Cuiú Cuiú sits 2.5km southeast of the PDM target, where recent drilling returned 22.4m at 4.8 g/t gold and 11.9m at 3.3 g/t gold in altered and brecciated granitic rocks beneath an extensive gold-in-oxide blanket.
Currently, two drill rigs are at Central. An RC rig for shallow holes to test the presence of a near-surface gold-in-oxide blanket; and a diamond rig to better define the primary basement deposit, as well as to test for a near-surface gold-in-oxide blanket.
RC drilling at Central is also in progress above the northern end of the Central gold deposit. Diamond drilling is also in progress at the recently discovered mineralized zone in basement granitic rocks at the PDM target located 2.5km northwest of Central, and at the primary MG deposit located 5km south-east of Central.
Cabral has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós region, within the state of Pará in northern Brazil. Two gold deposits have so far been defined at Cuiú Cuiú and contain 43-101 compliant Indicated resources of 5.9 million tonnes (Mt) at 0.90 g/t (200,000 ounces) and inferred resources of 19.5Mt at 1.24 g/t (800,000 ounces).
Contact the author at giles@proactiveinvestors.com