viewCabral Gold Inc

Cabral Gold identifies a new high-grade gold target at its Cuiú Cuiú project in Brazil

The company said surface grab samples from its newly-identified Tracaja target returned gold values that averaged 74.9 g/t

Cabral Gold Inc -
Cabral Gold says the current drill program at Cuiú Cuiú is designed to test at least 10 targets over the next six months

Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) (FRA:C3J) said it has identified a new high-grade gold target, Tracaja, north of the Medusa target at its Cuiú Cuiú gold project in Brazil. 

The company reported that 19 surface grab samples collected from the edge of historic placer workings at the Tracaja target returned gold values of between 24.2 grams per tonne (g/t) and 165.0 g/t with an average of 74.9 g/t gold. Cabral said it plans to conduct reverse circulation (RC) drill testing at the Tracaja target, once initial drilling at Medusa is completed. 

Cabral Gold CEO Alan Carter said in a statement: "The eastern part of the Cuiú Cuiú district is proving to be just as prolific as the central part, where we already have two gold deposits drilled off and multiple high-grade targets. Tracaja has some exceptionally high-grade blocks on surface, but in this particular case, we have strong evidence that the surface blocks are derived from two NE trending veins, which are currently submerged under water in an adjacent pit."

READ: Cabral Gold is building exciting high-grade gold targets at flagship Cuiú Cuiú project in Brazil

He added: "Whilst the initial drilling at the Alonso target area has not thus far identified the source of the high-grade surface boulders, further drilling is planned to test other possible structural targets."

Cabral noted that initial drilling at the Medusa target continues as it awaits assay results from the 20 holes that have been drilled to date.

The company added that a second rig arrived recently at the Machichie target and is initially targeting extensions of 2019 high-grade drill results, as recent surface sampling returned gold values that averaged 123.4 g/t gold.

Cabral Gold said the current drill program at Cuiú Cuiú is designed to test at least 10 targets over the next six months as it has two RC rigs at its disposal.

The company also announced that results have been received on a further 12 reconnaissance RC holes at the initial Alonso target, none of which encountered any significant gold mineralization. It said it plans to test alternative trending structural targets in several additional holes, as it is possible that the high-grade surface boulders may have been transported further than anticipated.

Contact Sean at sean@proactiveinvestors.com

Quick facts: Cabral Gold Inc

Price: 0.57 CAD

Market: TSX-V
Market Cap: $68.08 m

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