Business
Cabral Gold Acquires Strategic Surface Rights to Oxide Blanket at the MG Gold Deposit, Cuiú Cuiú District, Brazil
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2021) -  Cabral Gold Inc. (TSXV: ...
About this update from Cabral Gold, Inc.
[{"type":"text","content":"Cabral Gold Acquires Strategic Surface Rights to Oxide Blanket at the MG Gold Deposit, Cuiú Cuiú District, BrazilVancouver, British Columbia--(Newsfile Corp. - June 3, 2021) -  Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) (\"Cabral\" or the \"Company\") is pleased to advise that following the recent identification of a gold-bearing oxide blanket above the MG deposit, Cabral has acquired all of the remaining surface rights which cover the oxide gold blanket and the underlying MG gold deposit. The MG gold deposit is one of two deposits with significant resources which have been identified to date within the Cuiú Cuiú gold district in northern Brazil.Highlights are as follows:Cabral has signed a binding agreement to acquire the surface rights to the eastern part of the MG gold deposit and the recently identified gold-bearing oxide blanket where recent drilling returned 60m @ 3.5 g/t goldThe Company acquired surface rights totaling 184.7 hectares, bringing its total surface land holdings at both MG and Machichie to 256.5 hectares. These surface rights cover the entire gold-bearing oxide blanket and underlying MG gold deposit. Both remain openAs part of the transaction, the Company also acquired a second area amounting to 186.9 hectares immediately north of the Machichie target and close to the Quebra Bunda target where surface sampling of a high-grade vein in outcrop previously returned a value of 3,727 g/t gold (120 oz/t gold) The Company has also been granted Trial Mining License permits over the MG and Machichie areas totaling 85 hectares which gives the Company the right to process up to 100,000t of ore per year, subject to the granting of environmental licensesAlan Carter, Cabral's President and CEO commented, \"The recent drill results from the gold-bearing oxide blanket at MG meant that the acquisition of the surface rights over this part of the Cuiú Cuiú district became an extremely high priority for us. Cabral now controls both the mineral rights and the surface rights to the MG gold deposit and gold-bearing blanket, as well as the recently identified Machichie zone located 500m north of MG. The acquisition of these surface rights, together with the recent granting of two Trial Mining Licenses over the MG deposit and the Machichie zone, enhances Cabral's control of the are...