Strong results from initial reconnaissance drilling at the Machichie East Target, Cuiú Cuiú Project, Brazil
Highlights
- Drill hole CC183-19 targeted a coincident magnetic low, chargeability high and Au-Mo-Cu auger anomaly and returned 15.9m @ 1.73 g/t gold including 0.5m @ 21.3 g/t gold and 1.0m @ 10.3 g/t gold in a new and previously unknown structurewhich is open along strike and at depth
- This new zone is located 400m north-east of the recently discovered Machichie zone and is interpreted to be a new and different structure
- Drill hole CC180-19 which was drilled at the Machichie target and was lost in saprolite but none-the-less returned 1m @ 5.1 g/t gold at the bottom of the hole confirming the presence of mineralization that was encountered in replacement hole CC181-19 at the western end of the main Machichie target
- Elevated silver, tungsten, copper and molybdenum values were also noted from drill hole CC183-19 at Machichie East, which may suggest proximity to a concealed intrusive source
Vancouver, British Columbia – March 26, 2019 – Cabral Gold Inc. (TSXV: CBR OTC: CBGZF) is pleased to announce drill results from the Machichie East target at the Cuiú Cuiú Project, Pará State, northern Brazil. These results follow recent initial results from the nearby Machichie target, which like Machichie East, was never previously drill tested. The Machichie East Phase I reconnaissance diamond-drill program is part of a larger 20-hole reconnaissance program designed to test nine separate high-grade gold targets.
Machichie East Drill Results
A single reconnaissance drill hole CC183-19, was completed to a depth of 250.5m at Machichie East, a target which had never been previously drill tested. The hole was located 400m NE of hole CC177-19 at the recently announced Machichie discovery (see press release dated 28th February 2019), and was designed to test a coincident magnetic low, IP chargeability high anomaly, and multi-element saprolite/soil geochemical anomaly. The hole intersected 15.9m @ 1.73 g/t gold from 79m, including 0.5m @ 21.3 g/t gold from 86.5m and 1m @ 10.3 g/t gold from 91.4m associated with strong silica-pyrite alteration and quartz-pyrite vein zones (see Figures 1 and 2). Several additional shorter and lower grade intersections were intersected elsewhere in the hole (see Table 1).
Unusually for Cuiú Cuiú, elevated silver (Ag), copper (Cu) and tungsten (W) values were returned from the principal intersection described above, with a maximum of 27 g/t Ag, 0.1% Cu and 0.06% W. More broadly outside of this zone, the tungsten mineral scheelite, and coarse centimeter-sized molybdenite was observed in veins. Scheelite also occurs locally in wall-rock alteration zones. Values up to 0.17% W, 0.12% Mo and 0.15% Cu were encountered in selected samples throughout the hole. Tungsten was also recognized outside of the higher-grade gold intervals. Given these initial positive results, further multi-element analysis is planned.
This mineral and metal association is consistent with an intrusive related gold deposit model and raises the possibility of concealed intrusive sources within the Cuiú Cuiú project area, which are yet to be discovered.Detailed drill results from Machichie East are shown in Table 1.
Unlike the recently discovered Machichie structure, no historic surface workings are evident at Machichie East. The mineralized zone at Machichie East is a blind target covered by overburden, and located approximately 150m north of the eastern projection of the Machichie structure. Given the reconnaissance nature of this program, and the limited data available, Machichie East is currently interpreted to be a different and previously unrecognised structure to Machichie. Further drilling will be required to determine the orientation and strike extent of this new mineralized zone.
Visible scheelite and molybdenite were also recognized in the Machichie drill core. Given the strong initial Mo and W results from Machichie East, multi-element analysis also is planned for Machichie samples.
Machichie Main East-West Trend
Results on four of the five holes which tested the main E-W trending Machiche magnetic-low were released on 28th February 2019 and included 3.4m @ 36.9 g/t gold. These holes confirmed the discovery of a significant new high-grade mineralized zone at Machichie.
Results were pending on just one hole at Machichie, CC-180-19 which was terminated early in saprolite due to a loss of circulation. This hole returned 1.1m @ 5.1g/t gold from 39.4 – 40.5m depth and terminated at 40.5m having encountered the mineralized zone, but failed to fully penetrate the zone. The subsequent more steeply inclined hole CC-181 was drilled from the same platform and did intersect the Machichie mineralized zone.
Unlike the recently discovered Machichie structure, no historic surface workings are evident at Machichie East. The mineralized zone at Machichie East is a blind target covered by overburden, and located approximately 150m north of the eastern projection of the Machichie structure. Given the reconnaissance nature of this program, and the limited data available, Machichie East is currently interpreted to be a different and previously unrecognised structure to Machichie. Further drilling will be required to determine the orientation and strike extent of this new mineralized zone.
Visible scheelite and molybdenite were also recognized in the Machichie drill core. Given the strong initial Mo and W results from Machichie East, multi-element analysis also is planned for Machichie samples.
Machichie Main East-West Trend
Results on four of the five holes which tested the main E-W trending Machiche magnetic-low were released on 28th February 2019 and included 3.4m @ 36.9 g/t gold. These holes confirmed the discovery of a significant new high-grade mineralized zone at Machichie.
Results were pending on just one hole at Machichie, CC-180-19 which was terminated early in saprolite due to a loss of circulation. This hole returned 1.1m @ 5.1g/t gold from 39.4 – 40.5m depth and terminated at 40.5m having encountered the mineralized zone, but failed to fully penetrate the zone. The subsequent more steeply inclined hole CC-181 was drilled from the same platform and did intersect the Machichie mineralized zone.
FOR FURTHER INFORMATION PLEASE CONTACT:
Alan Carter
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
Email: [email protected]
Dr. Adrian McArthur, B.Sc. Hons, PhD. FAusIMM., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will”, “expected” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: strategic plans and future operations, and results of exploration. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
Notes
Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by FAA525. Analytical quality is monitored by certified references and blanks. Until dispatch, samples are stored under the supervision the Company’s exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned to the Company and archived. Multi-element analyses are conducted at SGS using a multi-element digest and ICP-OES finish (method ICP40B). Drill holes results are quoted as down-hole length weighted intersections.
Under the agreement with the Cuiú Cuiú condominium, local artisanal operators can process mineralization to a depth of 30m, unless otherwise negotiated. Shafts generally stop at or above the depth of the water-table.
