Cabral increases indicated resources at its Cuiu Cuiu gold project in Brazil
The company said that total updated indicated resources amounted to 21.6 M tonnes grading 0.87 g/t gold (604.0 K ounces), while total inferred resources amounted to 19.8 M tonnes grading 0.84 g/t gold (534.5 K ounces).
Cabral noted that indicated resources increased by 433 K ounces (253%) from the previous estimate, adding that all indicated resources and 84% of inferred resources (ounces) are contained within the MG and Central/CN deposits.
Importantly, the company said that all of the deposits included in the current mineral resource estimate remain open along strike and down dip of the resource estimate wireframes. New discoveries at Machichie and MG have not yet been sufficiently drilled for inclusion in a resource estimate.
President and CEO Alan Carter commented, "The new resource estimate is a testament to the integrity of the Cuiu Cuiu mineralization, with more than 50% of the total gold ounces in the indicated category. Our geological understanding has improved significantly since Cabral commenced drilling and the company is now able to correlate, interpret and predict gold mineralization down dip and along strike.
"The definition of the first near-surface heap-leachable oxide mineral resource (154 K ounces indicated and 79 K ounces inferred) could be a game changer for early low-cost development of a mine at Cuiu Cuiu, supported by our approved trial mining licenses. Future drill programs will focus on step-out drilling aimed at increasing resources at Central and MG and maiden resources for the Machichie and PDM discoveries."
Cabral Gold is a junior resource company engaged in the identification, exploration and development of mineral properties, with a primary focus on gold properties located in Brazil. The company has a 100% interest in the Cuiu Cuiu gold district located in the Tapajós Region, within the state of Pará in northern Brazil.
|Chile's mining sector contracts in August as local copper production falls 8%|