- Cabral Gold Inc. (CBR) shared the gold assay results from 21 holes drilled in the Cuiú Cuiú Project in Brazil
- One hole discovered a high-grade gold intercept, while most of the other holes showed trace amounts of gold mineralization
- The blanket at PDM remains open to the north and more mineralization my exist nearby
- An updated resource estimate for the Cuiú Cuiú project is being prepared
- A resource estimate is expected to be completed sometime this month
- Cabral Gold Inc. (CBR) is up 1.45 per cent and is trading at $0.35 per share as of 10:52 a.m. ET
Cabral Gold (CBR) shared the gold assay results from 21 holes drilled in the Pau de Merenda target on the Cuiú Cuiú Project.
One hole discovered a high-grade gold intercept, while most other holes showed trace amounts of gold mineralization. The company believes these drill results suggest that the blanket at PDM remains open to the north and that there are at least two parallel zones of mineralization in the underlying structures.
“While we currently have no idea how large the primary gold deposit is at PDM, these results confirm the presence of a second primary zone of gold mineralization in basement granitic rocks underlying the oxide blanket… the gold-in-oxide blanket and the two zones in the primary basement rocks are open to the north and may extend under an area of historic artisanal workings,” Alan Carter, Cabral’s President and CEO, said.
The company also announced an update on its drilling and trenching on the Cuiú Cuiú Project. Results for 12 holes at MG and for 14 holes at Machichie are pending.
The Indio target is waiting on results from six holes and additional drilling for the target has been planned. An updated resource estimate for the Cuiú Cuiú project is being prepared and a resource estimate is expected to be completed sometime this month.
Cabral Gold Inc. (CBR) is up 1.45 per cent and is trading at $0.35 per share as of 10:52 a.m. ET.