In a news release, Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTCMKTS) announced drill results from the Machichie and Medusa targets at its Cuiú Cuiú project in Brazil.
At Machichie, stepout hole 40-20 was drilled 175 meters east of the initial Machichie discovery hole. It returned 34 meters (34m) of 5.4 grams per ton (5.4 g/t) gold, including 13m of 13.4 g/t gold, and in that intercept, a bonanza-grade section returned 3m of 48.2 g/t gold. The overall grade and width of the mineralization encountered in this hole are the best Cabral has seen at Machichie to date, the company stated.
Another stepout hole, 41-20, drilled 50 meters east of hole 40-20, encountered 20m of 1.2 g/t gold, including 1m of 10 g/t gold.
These two holes significantly extend the Machichie mineralization to the east, where it remains open, the company stated. To determine the actual size of the Machichie discovery, further drilling will need to be done along strike and downdip.
"These very high-grade results from initial stepout reverse circulation drill holes at the Machichie target at Cuiú Cuiú confirm our belief that Machichie is a significant mineralized zone and, in all likelihood, the third significant gold deposit within the Cuiú Cuiú district," President and CEO Alan Carter said in the release.
Regarding Medusa, reconnaissance drilling "aimed at identifying the source of mineralized surface boulders averaging 24.7 g/t gold has intercepted a mineralized structure directly below the mineralized float on surface, which will require further drilling."
"With two rigs currently drilling and an aggressive surface exploration program in progress at Cuiú Cuiú, we look forward to a steady stream of results during H1/21," added Carter.
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