Alan Carter, Cabral’s President and CEO commented, “The current drilling campaign has focused in and around the MG gold deposit, and resulted in the discovery of the near surface gold-in-oxide blanket at MG, and the mineralized zone in hard-rock at Machichie.
The crustal-scale TZ structure is spatially related to all of the known gold deposits in the northern Tapajos, including G Mining Venture Corp’s 2Moz TZ deposit.
It is a NW-trending deposit, which is up to 100m wide and 1.2km in length, and remains open along strike and down-dip.
Historic drilling was designed to delimit a potential open-pit, bulk-tonnage deposit and therefore the high-grade intercepts were not the focus of historical drill programs and hence, were not followed up.
Of the holes intersecting high grades, only 13 had one or more other holes drilled up-dip or down-dip on the same section, some of these intercepts were nearly 400 m down hole, or close to 350 m deep.
Assay results from the gold-in-oxide blanket have included: 40m @ 2.2 g/t gold, including 7m @ 9.4 g/t gold; 13m @ 0.9 g/t gold; 10m @ 0.9 g/t gold; and 11m @ 0.6 g/t gold .
Perhaps more importantly, the RC drilling is continuing to define a NW-trending higher grade gold mineralization corridor.
Trenching of this saprolitized basement target revealed extensive stockwork gold mineralization and alteration akin to that which characterizes the primary gold mineralization at the Central gold deposit and the PDM target.
The best intervals included 39.4m @ 1.3 g/t gold, 20m @ 0.6 g/t gold and 19m @ 0.5 g/t gold.
The Central SE target area covers at least 1km in strike length and is located directly along strike and SE of the Central Gold Deposit .
Diamond drilling at the MG gold deposit is continuing with the objective of further defining and delimiting high-grade zones of mineralization along strike and down-dip.
The Company is a junior resource company engaged in the identification, exploration and development of mineral properties, with a primary focus on gold properties located in Brazil.
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.
Gold analysis has been conducted by SGS method FAA505 , with higher grade samples checked by FAA525.