Subscribe
Be the first with the news that moves the market- Cabral Gold (CBR) has secured and mobilised a drill rig for its upcoming exploration program at the Cuiu Cuiu project in Brazil
- The company has budgeted for at least 25,000 metres of drilling work on the property, initially targeting the Alonso, Medusa and Cilmar zones
- The company believes these three areas contain higher grades and could, therefore, improve the quality of the site’s resource estimate
- Previously, Cabral tested boulders at the Alonso target, which returned gold values up to 200.3 grams per tonne from chip samples
- Cabral (CBR) is up three per cent and is trading at C$0.34 per share
Cabral Gold (CBR) has secured and mobilised a drill rig for its upcoming exploration program at the Cuiu Cuiu project in Brazil.
The drill will kick-start Cabral’s effort to improve the project’s mineral resource estimate and improve the site’s average grade of 0.9 grams per tonne indicated and 1.24 grams per tonne inferred.
The company has budgeted for at least 25,000 metres of drilling work on the property, targeting a host of different targets.
The program will begin by focussing, the Alonso, Medusa and Cilmar targets. All three targets are within the eastern portion of the site and have never been drilled before. The company believes these three areas contain higher grades and could, therefore, improve the quality of the resource estimate.
Toward this end, Cabral tested boulders at the Alonso target earlier this year and returned gold values up to 200.3 grams per tonne from chip samples.
Once the company is satisfied with the drilling on the three initial targets, it will start testing areas outside of the known resource, such as the Machichie East and Machichie zones, which were drilled in 2019.
The final portion of the drilling program move to two existing mineral deposits at the site, the Central and MG zones, which were the focus on the previous year’s program.
Central and MG are the backbones of the current mineral resource estimate for the property, and the company intends to infill drill these zones to hopefully improve the site’s average grade.
Cabral Gold (CBR) is up three per cent and is trading at C$0.34 per share at 2:45 pm EDT.
