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Cabral Gold Initiates Review of Historic Data Regarding Cuiu Cuiu Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - December 19, 2017) - Cabral Gol d Inc. (...
About this update from Cabral Gold, Inc.
[{"type":"text","content":"Cabral Gold Initiates Review of Historic Data Regarding Cuiu Cuiu Project, BrazilVancouver, British Columbia--(Newsfile Corp. - December 19, 2017) - Cabral Gold Inc. (TSXV: CBR) (formerly San Angelo Oil Limited) (\"Cabral\" or the \"Company\") is pleased to announce the commencement of a complete review of all of the historic data from the Cuiú Cuiú project in Brazil which is expected to be completed by late January 2018. This work is occurring in parallel with the resource update currently being conducted by Micon International Ltd. (see press release dated December 7, 2017). The Cuiú Cuiú gold project in Brazil is located approximately 25km NW of Eldorado Gold Corporation's Tocantinzinho gold deposit which currently has Proven and Probable reserves of 39.6Mt @ 1.43g/t gold for 1.82Moz (see Eldorado website). Previous work at Cuiú Cuiú outlined a historic resource comprising an Indicated Resource of 3.4Mt @ 1.0g/t gold and an Inferred Resource of 31Mt @ 1.2g/t gold within two main zones; Central and Moreira Gomez, which are located 5km apart. These mineral resources are historical in nature as described in NI 43-101. They were contained in a technical report dated April 19, 2011 prepared by Pincock Allen & Holt for Magellan Minerals Ltd. prior to the agreement to acquire the property by Cabral, and a Qualified Person has not yet done sufficient work to classify the mineral resources 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. Notable drill intercepts occur in at least eight other areas outside of the historical resource but within the concession area and include 47m @ 1.8 g/t at Pau de Merenda 2km NW of Central, 39m @ 1.3g/t at Central North 0.8km NW of Central, and 27m @ 6.9g/t gold at Central SE located 500m SE of Central. In addition, the Moreira Gomes deposit at Cuiú Cuiú has several targets in close proximity, with historic drill intercepts, including 39m @ 5.1g/t at Jerimum Cima (2.5km NW of Moreira Gomes), 41m @ 1.3g/t at Jerimum Baixo (1.5km WNW of Moreira Gomes), 8m @ 2.8g/t at Ivo (800m north of Moreira Gomes), 3.3m @ 7.4 g/...