Business
Cabral Gold Engages Micon International to Update Resource Estimate for Cuiu Cuiu Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2017) - Cabral Gol d Inc. (TSXV: ...
About this update from Cabral Gold, Inc.
[{"type":"text","content":"Cabral Gold Engages Micon International to Update Resource Estimate for Cuiu Cuiu Project, BrazilVancouver, British Columbia--(Newsfile Corp. - December 7, 2017) - Cabral Gold Inc. (TSXV: CBR) (formerly San Angelo Oil Limited) (\"Cabral\" or the \"Company\") is pleased to provide this business update to shareholders in connection with its Cuiú Cuiú project in Brazil and general corporate matters. Resource UpdateThe Company has engaged Micon International Ltd. (\"Micon\") to prepare an updated Mineral Resource Estimate for the advanced Cuiú Cuiú gold project in Brazil located 25km NW of Eldorado Gold's Tocantinzinho gold deposit which currently has Proven and Probable reserves of 39.6Mt @ 1.43g/t gold for 1.82Moz. The update will follow from the previous mineral resource estimate completed by Pincock Allen and Holt (PAH) that was included in the NI 43-101 technical report issued to Magellan Minerals Ltd. (the previous owner of the project) dated April 19, 2011 based on 104 diamond drill holes totalling 25,957m, which outlined an Indicated Resource of 3.4Mt @ 1.0g/t gold and an Inferred Resource of 31Mt @ 1.2g/t gold and assumed a 0.4 g/t gold cut-off in the saprolite and a 0.3g/t gold cut-off in the hard rock. These mineral resources are historical in nature as described in NI 43-101. They were prepared prior to the agreement to acquire the property by Cabral, and a Qualified Person has not yet verified them as current. At this time, the reliability of the estimates is not known. The estimates were classified using the categories set out in the Canadian Institute of Mining, Metallurgy and Petroleum's CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines, as required by NI 43-101. However, Cabral is not treating the mineral resources as current.The updated Mineral Resource Estimate will incorporate an additional 22,068 meters of diamond drilling comprising 72 drill holes that took place on the project during 2011 and 2012 after the issuance of the 2011 technical report. A map showing the location of these drill holes, together with those which formed the basis of the historical NI 43-101 mineral resource estimate, is provided below. To view an enhanced version of this image, please visit: http://orders.newsfilecorp.com/files/3900/31098_a1512621356347_8.jpgThe results of the mineral resourc...