Cabral Gold identifies new high-grade gold zone at the MG deposit on its flagship Cuiú Cuiú project in Brazil

Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) has identified a new high-grade gold zone at the MG deposit on the firm’s flagship Cuiú Cuiú project in Brazil.

Assay results from a pair of holes drilled on the deposit returned intersections of 2.1 metres at 29.4 grams per ton (g/t) gold, including 0.5 metres at 120.6 g/t gold.

Cabral told investors that the result indicates the presence of a parallel high-grade zone located 75 metres south of the main MG deposit.

READ: Cabral Gold hits mineralized vein at previously untested Indio target on the Cuiú Cuiú project in Brazil

The newly-named 104 Zone appears to continue down-dip and dips “steeply” to the north, Cabral told investors.

Results from the second hole suggest the presence of an extensive gold-in-oxide blanket up to 48 metres thick averaging 0.5 g/t gold and covering an area of approximately 500 metres by 400 metres.

“The initial diamond drill results from MG are highly encouraging and indicate the presence of a parallel high-grade zone 75m south of the main MG deposit, which also contains considerable high-grade mineralization,” Cabral CEO Alan Carter said in a statement.

Carter noted that a historic high-grade drill hole in this zone intersected 2 metres at 70.2 g/t gold, which was cut to a maximum of 2 g/t gold as part of the 2018 resource estimate. The current drill program will allow the company to further define the extent of the high-grade 104 Zone.

“These new drill results suggest we have a significant high-grade zone parallel to the main deposit at MG which could contain a significant amount of gold,” Carter added. “It also appears that the MG deposit is covered by a large low-grade oxide gold blanket which was also not previously included in the historic resource estimate and could add significant ounces to the MG resource.”

Results on five additional diamond drill holes recently completed at MG are pending, as well as several RC holes at the JM, JN, Hamilton Novo and Maranhao West targets.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors