Alan Carter, Cabral’s President and CEO commented, “Following the identification of the initial gold-in-oxide blanket in unconsolidated material above the MG gold deposit at Cuiú Cuiú, we have moved swiftly to define the limits to this new mineralized zone and drilled a total of 52 holes to date from the planned 74-hole program.
Holes RC-131 to RC-133 were drilled on section 553430 while holes RC-134 to RC-136 were drilled 75m to the east on section 553505 .
On section 553430 , RC-132 returned 13m @ 0.6 g/t gold from surface, 7m @ 0.5 g/t gold from 25m depth and 34m @ 0.7 g/t gold from 40m depth, all in oxide material.
On section 553505 , RC-135, which is the most northerly hole drilled on section, intersected 46m @ 0.5 g/t gold from surface, indicating that the blanket on this section remains open to the north.
One of the new diamond drill rigs is currently in the process of drilling six follow-up holes at Pau de Merenda where an extensive gold-in-oxide blanket was recently identified which is still open in several directions.
Shallow follow-up RC drilling conducted during late 2020 however failed to determine the source of the boulders due to high water in-flows.
The stock options entitle the holders to purchase a total of 4,050,000 common shares in the capital stock of the Company at a price of $0.51 per common share.
The Company is a junior resource company engaged in the identification, exploration and development of mineral properties, with a primary focus on gold properties located in Brazil.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.
Gold analysis has been conducted by SGS method FAA505 , with higher grade samples checked by FAA525.