Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTCMKTS) announced in a news release it identified at least six high-grade veins at its Cuiú Cuiú gold project in Brazil and secured a second reverse circulation rig to drill the growing number of targets.
This "is a truly exciting development and adds to the potential of this particular part of the Cuiú Cuiú District," CEO Alan Carter said in the release.
The Canadian explorer discovered these northeast-trending vein structures, located in the Machichie Southwest area that is immediately north of the MG deposit, by the recent mapping of the area.
Cabral expressed confidence that Machichie Southwest is a separate vein structure from Machichie, which was drilled in 2019, and is one of an array of at least six parallel high-grade veins. The other five are Filão de Amor to the west, and Zezinho, Hamilton Novo, Maranhão West and Maranhão East to the east.
One of two holes drilled at Machichie Southwest in 2019 returned 3.4 meters of 36.9 g/t gold. Surface samples from Filão de Amor returned values ranging from 8.4 to 38.8 g/t gold.
Zezinho surface samples showed 1.6 g/t and 20.4 g/t gold. Trenching of the Hamilton Novo vein returned 5.8 meters (5.8m) of 16 g/t gold at surface and 3m of 7.4 g/t gold in a historical drill hole. The intercept remains open along strike and downdip.
Grab samples returned 21.4 grams per ton (21.4 g/t) gold from the Maranhão West vein and 15.3 g/t gold from the Maranhão East vein.
"These new veins could contain a very large amount of high-grade gold mineralization, and the addition of a second reverse circulation drill rig on the project will allow us to advance on two targets simultaneously," Carter added.
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