Cabral Gold pinpoints possible gold source at the Climar target on its Cuiú Cuiú project in Brazil

Proactive Investors Thursday, 23 July 2020
Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) has identified a possible source of a number of coarse gold nuggets at the Climar target on its Cuiú Cuiú project in Brazil, it said Thursday. The Vancouver-based exploration company told shareholders that “numerous” coarse nuggets were recovered from drainages located around 350 metres from the Climar field in an area consistent with a major structural intersection. Grades of the 13 float samples recovered ranged from 1.4 to 12.3 grams per ton (g/t) gold, averaging around 4.5 g/t. The firm also outlined a significant gold-in-soil anomaly immediately south of the nugget field that extends around 1.8 kilometres. READ: Cabral Gold now fully funded to explore gold targets at Cuiú Cuiú after closing oversubscribed $4.2 million financing Cabral said its efforts to locate the source of the nuggets were hampered by dense overburden and post-mineral lake sediments up to 20 metres thick. "The identification of the potential source of coarse gold nuggets recently recovered from streams in the Cilmar area has not been straightforward due to the presence of thick post-mineral cover,” Cabral CEO Alan Carter told shareholders in a statement. “However, recent sampling has resulted in a number of good gold values in surface rock samples, which has consequently narrowed the search down to the point where we now have drill targets at Cilmar. The eastern part of the project area is turning out to be very prolific in terms of new high-grade targets and continues to support our belief that Cuiú Cuiú is an emerging district which contains multiple gold deposits.” Cabral is planning to start RC drilling on the target and other recently identified high-grade targets in early August. The target area has never been previously explored. The firm also updated shareholders on the resumption of fieldwork at Cuiú Cuiú following a work stoppage due to the coronavirus pandemic. Drilling using a recently acquired ASV ST-50 reverse circulation drill rig is expected to start in early August and will initially focus on the recently identified high-grade Alonso and Medusa targets, then Cilmar, followed by other targets, it told shareholders. Separately, Cabral said it had issued just over 3.4 million shares of the company priced at C$0.27 to various employees, directors and consultants under the firm’s stock option plan. The options are exercisable for a five-year period and subject to vesting over 24 months. Contact Angela at [email protected] Follow her on Twitter @AHarmantas
Video Credit: Newsflare - Published
News video: Thousands of Thais rush to sell gold as price soars amid Covid-19 economic slump

Thousands of Thais rush to sell gold as price soars amid Covid-19 economic slump 02:50

Thousands of Thais rushed to shops yesterday July 25 to sell their gold as prices of the precious metal soared amid the Covid-19 economic slump. Footage from the the Chinatown area of Bangkok on Yaowarat Road shows long queues of locals waiting outside shops where they can cash in their gold...

You Might Like

Related videos from verified sources

Veteran Investor Bullish On Gold [Video]

Veteran Investor Bullish On Gold

Gold is on the rise. According to Business Insider, analysts do not see any sign in it slowing down. Investor Barry Dawes of Martin Place Securities said that he expects gold prices to rise to $3,500..

Credit: Wochit     Duration: 00:35Published
Kerala gold smuggling case: M Sivasankar arrives at NIA office for interrogation in Kochi [Video]

Kerala gold smuggling case: M Sivasankar arrives at NIA office for interrogation in Kochi

M Sivasankar, who is the former principal secretary of Kerala Chief Minister reached National Investigation Agency (NIA) office in Kochi for interrogation on July 28. He was questioned by NIA officials..

Credit: ANI     Duration: 01:29Published
Traders Chase Gold As US-China Relationship Stumbles [Video]

Traders Chase Gold As US-China Relationship Stumbles

As US-China tensions spiral upwards, so goes the price of gold. According to Markets Insider, the precious metal closed at its highest level ever for the second consecutive day on Monday. Gold closed..

Credit: Wochit     Duration: 00:44Published

Tweets about this