Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTC.MKTS) announced in a July 19 press release initial sampling and exploration results from an ongoing program assessing the potential of newly discovered high-grade veins at the Machichie site, within the Cuiú Cuiú Project, Pará State, northern Brazil.
"Initial results have highlighted a newly recognized mineralized trend with no previous drilling that is located only 500 meters north of the Cabral's MG deposit. MG is one of four deposits with defined resources at Cuiú Cuiú," noted the company.
The newly discovered Machichie mineralized structures extend at least 300 meters and lie along an easterly trend, roughly parallel to the MG deposit, according to the company.
"The discovery is highlighted by a line of recently sunk artisanal shafts that are exploiting high-grade gold-bearing quartz veins hosted in soft, shallow weathered bedrock," explained the company in the release. "The structure is defined as a subtle magnetic low that corresponds to a coincident gold-in-soil geochemical anomaly (100-315ppb Au)."
"A composite grab sample of mineralized rock returned 336 g/t Au from a 1-meter-wide quartz-pyrite vein in an artisanal shaft at Machichie," note the company. "Channel sample results include 54.6 g/t Au over 0.80 meters, 13.2 g/t Au over 0.75 meters, 13.8 g/t Au over 1.5 meters and 5.8 g/t Au over 1.75 meters."
The Cuiú Cuiú Project includes the largest of the historical placer gold camps in the Tapajós region of northern Brazil. The project has yielded an estimated 2 Moz of gold from the overall 20-30 Moz gold produced during the Tapajós gold rush from the late-1970s though the mid-1990s.
"Placer workings cover over 850 hectares on the property but are largely exhausted," according to the news release. "The few remaining artisanal workers now process gold from palaeo-valley placer deposits and in places exploit high-grade gold mineralization from quartz veins in saprolite (shallow highly weathered bedrock)."
Exploration from 2006 through 2012 identified multiple bedrock sources for numerous placer workings, largely discovered through following up pronounced surface gold-in-soil geochemical anomalies. Many potential source areas remain untested, and recent work by artisanal workers is uncovering additional new targets, noted the company.
Earlier this year, Cabral reported an updated a Mineral Resource Estimate totaling 5.9 million tons grading 0.9 g/t Au (Indicated) and 19.5 million tons grading 1.2 g/t Au (Inferred), or 0.2 Moz and 0.8 Moz of gold, respectively. That estimate was based on four deposits drilled prior to the cessation of drilling in 2012.
"The Company's current program is designed to improve understanding and expand existing prospects, evaluate newly identified discoveries, prioritize drill targets, and to build upon the existing resource inventory. One focus is on the definition of gold targets that are strategically close to existing resources. The Machichie area is one such target, as it lies within 500 meters of the MG deposit," the company noted.
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