We’ve covered the Cabral story fairly extensively here at Equity Guru since it began trading back in November of 2017. An exploration into Cabral Gold’s recent milestones can be discovered here, among several detailed and mildly entertaining articles (emphasis on ‘mild’).
For those of you already familiar with the Cabral Gold (CBR.V) story: what do you think a fella’s chances are of blindly lobbing a rock deep into Cuiu Cuiu territory and NOT striking significant high-grade gold when said rock falls back to Earth? I’m joking of course. But GOLD does seem to be ubiquitous throughout the Cuiu Cuiu project area. Here’s the latest:
Cabral released news today of yet another new surface gold discovery at their Cuiu Cuiu project in northern Brazil. Actually… make that two new surface gold discoveries.
This is a busy map. It’s bound to get even busier. It seems every time I view it, there’s a new yellow discovery-dot or two tacked on.
The red dots represent actual resources – gold in the ground. The yellow dots represent surface gold discoveries and or primary target zones warranting follow-up exploration.
The News Highlights:
- Grab samples (‘grabs’ for short) returned assays ranging from 5.5 to 162.4 grams per tonne gold from stockpiles along separate shafts on vein structures discovered earlier this year at the Morro da Lua target area.
- Channel samples extend the Jerimum Cima target with 12.4 meters grading 1.9 grams per tonne gold, 1.7 meters grading 15.7 g/t gold, and 8 meters grading 1.1 g/t gold. These results, located up to two-hundred meters west of historic drilling, significantly extend the strike extent of the JC mineralized structure. All intervals are open in terms of width. The zone remains open along strike.
- Jerimum North, a new discovery, was tagged five-hundred meters to the north of Jerimum Cima. Grabs returned 52.1 g/t, 13.0 g/t, and 10.0 g/t Au.
- Jerimum East, the second new discovery outlined in this news release, was tagged eight-hundred meters east-north-east of Jerimum Cima. It returned a value of 152.6 grams per tonne gold from a single grab.
Let’s take this one apart, zone by zone, discovery by discovery:
Morro da Lua…
Shown at the center top of the above map, this is a recent discovery which has seen no prior drilling.
Back in March of this year the company gave us a peek at two samples collected along a series of shafts developed on an E-W tending structure at Morro da Lua.
Visible gold does have a certain allure, don’t it?
Recent rock samples collected from material adjacent to seven separate shafts along this zone – seven rock samples in total – returned gold grades between 5.5 and 164.2 grams per tonne gold.
We noted in an earlier article how Cabral has embraced the artisanal mining culture in the area, rather than attempting to run it off. Input from these garimpeiro’s helped to inform Cabral’s understanding of the underlying geological controls at Cuiu Cuiu. They’re helping the company connect the dots. There’s been no let-up in this strategy. There are currently TEN artisanal shafts in production, or in the process of being explored, at Morro da Lua, with many others scattered about the area having been recently worked and abandoned. ‘Cool Beans’ says this humble observer.
No significant loss is felt by the company, or its shareholders, in allowing this activity to continue. These artisanal miners are taking only what is within reach of the surface. The intellegence these geological sleuths provide in return… priceless.
There’s something to be said for engaging, nurturing and fostering a spirit of cooperation.
More from Morro da Lua…
Channel samples taken across two individual veins, each approximately one meter in width, returned grades of 10.8 and 16.3 grams per tonne gold (each over 0.3 meters).
This target is at an early stage of discovery/exploration. Over two hundred infill soil samples collected in the area indicate a gold-in-soil anomaly which extends 1.5 kilometers to the east of the current workings.
The company plans to sample the area further, deeper, with an auger drill; one capable of drilling to depths of twenty-five meters or so in order to sample the bedrock concealed by a thin layer of soil.
The image below is a nice aerial shot of Morro da Lua’s shaft positions, grab sample locations, and interpreted vein trends…
The overall width and strike extent of Morro da Lua is currently unknown. Geological intrigue at its finest ya’ll.
As noted above, Cuiu Cuiu was the source of some two million ounces of historic placer gold production. Streams emptying out of the Jerimum Cima target area were reported to hold some of the very richest placer gold material.
As far as exploration targets go, JC is a no-brainer.
The Jerimum Cima target is overlain by a 1.2 x 1 kilometer gold-in-soil anomaly – an anomaly which has received limited subsurface probing. Of the holes that were drilled in a previous campaign, one tagged a very respectable thirty-nine meters grading 5.13 grams per tonne gold. Another hit eighteen meters of 1.17 g/t Au.
In an area to the west of this previous drilling, a recent round of channel sampling returned the following values:
- 9.0 meters grading 2.0 grams per tonne gold, including 5m grading 3.16 g/t Au (a result released back in March 2018).
- 12.4 meters grading 1.9 grams per tonne gold (new).
- 8.0 meters grading 1.1 grams per tonne gold (new).
- 1.7 meters grading 15.7 grams per tonne gold (new).
All of the most recent channel samples are open in width under soil cover to the north. The mineralized zone is currently estimated to be at least 15m in width and remains open to the west.
The New Discoveries:
Jerimum Cima is already an established target at Cuiu Cuiu. Jerimum North and Jerimum East are new to the target party.
Rock chip samples adjacent to an abandoned shaft at Jerimum North, located five-hundred meters north of the main JC target, returned values of 52.1 grams per tonne gold, 13.0 g/t gold, and 10.0 g/t gold.
Recent auger sampling in the area returned traces of gold from a deposit of loose rock debris at the base of a six-meter thick soil profile.
Evaluation of this new target area is ongoing.
Located approximately eight-hundred meters east-north-east of the main JC target, one grab sample taken from quartz vein material adjacent to historic workings returned an impressive 152.6 grams per tonne gold.
Deep auger sampling and evaluation of ground magnetic data are ongoing in order to determine the extent of this new target.
There is an element of mystery at both Jerimum North and Jerimum East. They represent two new pieces to the Cuiu Cuiu puzzle.
The map below offers a birds-eye view of the new discoveries…
Commenting on this recent round of news, Alan Carter, President & CEO stated…
The presence of high-grade gold values on surface from newly identified targets at Morro da Lua, Jerimum North (JN) and Jerimum East (JE) continues to impress us and highlights the potential for significant untested high-grade gold mineralization at Cuiú Cuiú.
On Deck from Cabral:
The company is busy generating drill targets for a planned Q3 drilling campaign. I know a handful of people who are more than anxious to see the drills mobilized to the Cuiu Cuiu area. I know I am.
To that end, on deck, additional surface sample assays from the following areas may help the company hone in on Cuiu Cuiu’s sweet spots…
- The MG (Moreira Gomes) Target Area. MG already has an Inferred resource of 8.6MMt @ 1.45 g/t Au. Nearby targets include Machichie, Guarim, Vila Rica and Germano.
- The Central – Pau de Merenda Target Corridor. A 1km wide NW-trending zone that already includes an Indicated resource of 5.9MMt @ 0.90 g/t Au and Inferred resources of 8.7MMt @ 1.13 g/t Au at Central. Historic drill results from Pau de Merenda target 2km to the north include 30m @ 1.1 g/t Au, 47m @ 1.8 g/t Au and 9m @ 5.1 g/t Au.
- The JB Target Area. JB currently has a small Inferred resource of 2.1MMt @ 0.87 g/t Au but is open along strike and at depth.
- The Miraboa Target Area. This region has produced a significant amount of gold from streams and exhibits several compelling gold-in-soil and coincident magnetic anomalies but has never been the subject of any drilling or systematic sampling.
Wrapping things up:
One gets a sense that CEO Carter is pulling out all the stops in order define the best Cuiu Cuiu has to offer in terms of drill targets. His approach appears methodical, meticulous.
With Carter’s apparent leave-no-stone-unturned strategy, he may just uncover the actual hard rock source of all that high-grade placer material found in the latter part of the last century.
The fact that Carter was involved in four out of the past seven discovery or production stories in the Tapajós region (Coringa, Palito, Cuiú Cuiú, and Tocantinzinho) should elevate shareholder confidence that Cabral is the right vehicle in the gold space.
We stand to watch.
~ ~ Dirk Diggler
Full disclosure: the author does not own shares in Cabral. The author does not own shares, yet.
Feature image courtesy of Rare Historical Photos