In a news release, Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTCMKTS) reported "assay results from follow-up RC holes at the Hamilton Novo target immediately south of the recently identified Machichie zone, as well as additional diamond drill results from infill drilling at the MG gold deposit within the Cui˙ Cui˙ gold district in northern Brazil."
The firm indicated that assay results from Hole RC-63 that was drilled at the NE trending Hamilton Novo vein target measured 3 meters of 13.2 g/t gold, including 1 meter of 36.7 g/t gold. Cabral Gold noted that Hamilton Novo, along with five other veins found recently, is located between the MG gold deposit and the Machichie zone where drilling recently intersected 34 meters of 5.4 g/t gold, including 13 meters of 13.4 g/t gold.
The company stated that prior surface trenching work in the same vein structure obtained 5.8 meters of 16.0 g/t gold 75 meters NE of Hole RC-63 and that a historical diamond drill hole 35 meters NE of RC-63 had returned 3 meters of 7.4 g/t gold.
The firm advised that significant intervals of low-grade gold mineralization had been realized from additional Infill drilling at the MG property. The company indicated that it found 14 m of 1.1 g/t Au in Hole DDH-211 that explored the same general area as holes DDH-208 and DDH-209. Cabral mentioned that the objectives for Holes DDH-210 and DDH-211 were to define the high-grade zones limits within Cui˙ Cui˙'s presently identified MG and Central deposits.
Cabral Gold's President and CEO Alan Carter stated, "The initial RC drill results from the Hamilton Novo vein structure suggest the continuity of high-grade mineralization both at depth and along strike. This area comprises a series of largely untested high-grade NE trending veins that are located within an area that is 500m across in a N-S sense, between the MG deposit and the recently discovered Machichie zone, both of which trend east-west. The additional results from MG could be a game changer and continue to demonstrate that the MG deposit is covered by an extensive low-grade oxide gold blanket which was not previously included in the historic 2018 resource estimate, and could add significant ounces to the MG resource."
The company explained that more drill results are pending from diamond drill holes fashioned to test the dimensions of the MG deposit's high-grade zones. The firm mentioned that the results from reconnaissance RC drilling remain pending as well as there are still several RC holes at the JM and JN targets that have not been tested previously.
The firm noted that the JN drill program had been abandoned as excessive water flows prevented reaching the targets at their projected depth. Thus, the company stated that it was not able to further test a down-dip area planned starting from a near surface high-grade vein structure that previously intercepted 5.3 meters of 24.0 g/t gold. Cabral Gold indicated instead that it will test the JN target in the coming months utilizing diamond drilling.
Cabral stated that the rig from JN has since been redeployed and is now being used for drilling at the Morro da Lua target where in 2019 a single drill hole intersected 2.8 meters of 19.5 g/t gold, 0.5 meters of 9.1 g/t gold and 0.6 meters of 14.8 g/t gold.
Cabral Gold owns a 100% interest in the Cui˙ Cui˙ gold district located in northern Brazil. The company highlighted that according to an NI 43-101 compliant technical report, two defined gold deposits at Cui˙ Cui˙ contain an Indicated resource of 200 Koz Au and an Inferred resources 800 Koz Au.
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