Cabral Gold (TSXV: CBR) this morning released what the company describes as its most significant drill results to date at their Jerimum Cima target, which is part of the larger Cuiú Cuiú project in Brazil.
The junior explorer announced Thursday that recent diamond drilling at the Jerimum Cima target returned 9.5 metres at 87.4 g/t gold. The interval included a high-grade core of 2.9 metres at 285.5 g/t gold.
Results released include:
- DDH372: 9.5 metres of 87.4 g/t gold from a depth of 173.8 metres
- Including 2.9 metres of 285.5 g/t gold
- DDH369: 6.1 metres of 0.55 g/t gold from a depth of 148.4 metres
- And 13.9 metres of 0.73 g/t gold from a depth of 211.8 metres
While Cabral is no stranger to high-grade hits in Northern Brazil, the magnitude of this latest intercept is a step change for the company. CEO Alan Carter noted that while previous discoveries at the site have been impressive, the firm has “never encountered drill results of this magnitude” until now.
The Jerimum Cima target is located just 3 kilometres from the Central gold deposit and 3.5 kilometres from the MG deposit. The target is centered on a major east-west trending fault zone, which is a splay off the regional Tocantinzinho fault system.
The Cuiú Cuiú district sits on the site of Brazil’s largest historic gold rush. Between 1978 and 1995, the area produced an estimated 30 to 50 million ounces of placer gold. Cabral is now attempting to map the primary hard-rock sources of that historic wealth.
Exploration Vice President Brian Arkell indicated that the mineralized zone at Jerimum Cima is now defined up to 200 metres wide and at least 900 metres long. The system remains open to the east and at depth, meaning the company hasn’t yet found the edges of the prize.
“Of additional interest, there is a large gold-in-oxide cap over much of this area, and a broad gold-in-soil anomaly which is open to the north and east. Our current plans are to continue drilling both to the east and north-northeast to determine the overall extent of the mineralization at the Jerimum Cima target,” commented Arkell.
Cabral Gold last traded at $1.09 on the TSX Venture.
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