Cabral Gold Inc (TSX-V:CBR) has told investors that the latest drill results from its Cuiú Cuiú project suggest the presence of another primary gold deposit at the property in Brazil.
The assays come from nine diamond-drill holes, which tested the new hard-rock discovery beneath the gold-in-oxide blanket at the PDM target.
Highlight results include an intercept of eight metres (m) grading 6.7 grams per ton (g/t) gold from a depth of 114m in one hole, which included a length of 2m at a grade of 23.2 g/t of the yellow metal.
Another hole threw up 18m grading 2.5 g/t gold from 92m depth, including 3m at 10.5 g/t gold. That hole was sunk 50m northwest of another hole, which returned 11.9m at 3.3 g/t gold, indicating that the mineralized zone is open to the northwest, noted Cabral.
READ: Cabral Gold reports more encouraging drill results from Brazil project, this time from Central deposit
"PDM is one of the five different targets that we are currently drilling at Cuiú Cuiú, and these additional diamond-drill results from the primary mineralized zone in granitic rocks below the gold-in-oxide blanket at PDM, continue to suggest the presence of another primary gold deposit in basement granitic rocks," said Alan Carter, the company's CEO said in a statement.
"Whilst it is early days for this discovery and much work remains to be done to define the continuity and extent of the mineralized zone, the initial diamond drilling at PDM is very promising, and presents many similarities to the nearby Central and MG gold deposits, as well as the Machichie discovery.
"We look forward to receiving additional assay results from drilling at the PDM target in the coming months as we work to determine the size of this new gold discovery," he added.
The PDM (Pau de Merenda) target sits 2.5km northwest of the Central gold deposit at the Cuiú Cuiú project within a prominent northwest-trending gold-in-soil anomaly, which has been traced from the northwest to the southeast for over 5km.
Within this anomaly lie the Central gold deposit, Central SE target, Central North target, PDM target and Mutum target.
An extensive gold-in-oxide blanket at PDM was uncovered in August last year and diamond drilling was started later that year to test for an underlying zone of primary gold mineralization in the un-weathered granitic basement rocks similar to that at MG and 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 writer at giles@proactiveinvestors.com