Cabral Gold Inc (TSX-V:CBR) has announced assay results from five diamond-drill holes at the Machichie Main zone discovery within Brazil's Cuiú Cuiú gold district, finding continuity of the zone at depth and a “significant” amount of high-grade gold mineralization.
"These drill results from the eastern part of the Machichie Main zone extend the mineralized zone to depth, it remains open down-dip on every section,” CEO Alan Carter said in a statement. “All five follow-up diamond-drill holes at the Machichie Main zone cut broad zones of alteration including significant zones of high-grade mineralization.”
Specifically, hole 303 returned 6.4 meters (m) of 11.6 grams per ton (g/t) gold from 123.6 m, including 1.1 m at 60 g/t gold; hole 279 returned 16 m at 2.9 g/t gold from 112.4 m, including 1.1 m at 29.7 g/t gold; hole 302 returned 7.3 m at 5.0 g/t gold from 202.5 m, including 1.8 m at 18.5 g/t gold; 300 returned 15.7m at 1.6 g/t gold from 176.2m, including 0.8m at 8.9 g/t gold; and hole 301 returned 12.2 m at 1.4 g/t gold from 215.6 m.
READ: Cabral Gold says latest drill results from PDM target at Cuiú Cuiú augur well for deposit's potential
A full breakdown of the results can be found here.
“This is very similar to the style of mineralization found within the Central and MG gold deposits, as well as the new PDM discovery,” Carter said. “Recent trenching to the west also suggests that the Machichie Main zone extends for more than 90 0m along strike. To the west, it coalesces with a major north-east trending vein array. Combined, the Machichie W, Machichie SW, Machichie Main zone and Machichie NE target areas are now referred to as the Machichie Complex, which is likely to grow into a significant deposit."
Previous drilling at the Machichie Main zone identified a persistent mineralized zone which is east-trending and dips steeply to the north, the company said. The zone consists of a high-grade core zone surrounded by a low-grade alteration envelope which is similar in style to the primary bedrock gold deposits at MG and Central, as well as the recently announced PDM basement discovery.
Holes 279, 300, and 301 were drilled to better define the dip of the mineralized structures, the company said. These holes all confirmed the down-dip continuity of the previous intercept, and they combine to extend the mineralized zone an additional 85 m down-dip.
Notably, further drilling will be required to define this area further, although the Machichie region now has multiple mineralized areas that may combine to form the next new significant gold deposit at Cuiú Cuiú, the company said.
Recent trenching to the west suggests that the Machichie Main zone could extend at over 900 m from east to west, and it remains open to the west. The new northeast-trending vein arrays and Machichie NE remain open in all directions and have been only subjected to scout drilling to date.
The preparation of an updated resource estimate for the Cuiú Cuiú project is still in progress and is expected to be completed in the third quarter.
Cabral is a junior explorer focused on gold properties in Brazil. It has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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