In a news release, Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTCMKTS) announced two new exploration developments at its Cuiú Cuiú project in Brazil.
Through surface sampling at the undrilled Indio target, Cabral identified another prospective area for drilling, high-grade quartz-sulphide mineralization on surface with values up to 137.8 g/t gold. The company stated it will follow it up with reconnaissance drilling in the area, starting shortly with six holes.
At another Cuiú Cuiú target, Tracaja, results of the first five holes of reconnaissance drilling using the reverse circulation rig delineated a northeast-trending mineralized vein structure. Intercepts include 1 meter (1m) 0.61 grams per ton (0.61 g/t) gold from 51m and 7m of 0.45 g/t gold from 82m, in hole 50. Hole 51 returned 2m of 0.7 g/t gold from 55m. Hole 52 showed 1m of 0.64 g/t gold from 28m.
"The identification of high-grade quartz-sulphide mineralization on surface at the Indio target, with values up to 137.8 g/t gold, is very encouraging and will be tested by reconnaissance drilling over the next couple of weeks. Similarly, the identification of a NE-trending mineralized vein system at Tracaja is significant and gives us a mineralized structure that we can now trace along strike and down-dip in order to determine which part of the structure is the source of the high-grade blocks found on surface," President and CEO Alan Carter said in the release.
"It is important to note that our reconnaissance drill program continues in parallel with follow up drilling using a larger contract RC rig which is having excellent success at the Machichie target. The Cuiú Cuiú district was not the largest placer gold area in the world's third largest placer gold region for no reason, and our exploration program is only just starting to reveal the grade and size of this exciting gold district," Carter added.
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