Cabral Gold is (TSX-V: CBR) (OTC: CBGZF) focused on advancing its district-scale Cuiú Cuiú gold district located within the Tapajos region of Para state, Brazil. The Tapajos region was historically the site of the world’s largest ever gold rush (1978 – 1995) and is the largest placer gold province in Brazil. The Cuiú Cuiú district was the largest placer gold camp during this gold rush period having produced an estimated 2Moz placer. In October 2021, GMining acquired the adjacent TZ project from Eldorado Gold for a total of US$110M and expects to make a construction decision by the end of Q2 2022.
The company’s near term strategy is focused on defining high-grade resources at Cuiú Cuiú which already encompasses two gold deposits with 43-101 compliant resources of 1Moz of gold (last update 2018). Approximately 25,000m of drilling has been completed since the last resource update.
A total of 43 targets have been identified within an 8km radius of the 2 known deposits, many of which are high-grade, including 10 targets with high-grade drill intercepts such as 3.4m @ 36.9 g/t, 27m @ 6.9 g/t, 34m @ 5.3 g/t and 39m @ 5.1 g/t.
The Company has also recently identified 2 gold-in-oxide blankets in unconsolidated material at surface at the MG and PDM targets which have resulted from erosion of underlying hard rock deposits.
Management has a track record in Brazil, having been involved in 5 grass roots discoveries. The CEO is also the largest shareholder and has personally invested $1.7M to date. The Company is well funded with $8M in cash and is currently engaged in a 30,000m drill program with 5 rigs drilling.