Vancouver, British Columbia-(Newsfile Corp. – June 17, 2025) – Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) (“Cabral” or the “Company”) is pleased to provide metallurgical tests results as well as an update on exploration, and the updated PFS, at the Cuiú Cuiú gold district, Brazil.
Highlights are as follows:
Alan Carter, Cabral’s President and CEO commented, “The recent metallurgical results from Machichie confirm that the gold-in-oxide material is amenable to heap leach processing with excellent gold recoveries from the column leach tests. These are comparable to those that we received from both the MG and Central gold deposits. The arrival of two diamond drill rigs on site will also allow us to significantly expand our exploration program which is aimed at adding resources to the global resource inventory, particularly at Central and MG, and establishing maiden resource estimates at Machichie NE, Machichie Main and PDM. Several nearby previously untested exploration targets such as Mutum will also be tested as part of this program. In parallel, the updated PFS study on our starter heap leach project continues to progress with mine planning, ongoing engineering and optimization work, sterilization and geotechnical drilling all currently in progress.”
Machichie Column Leach tests
As part of the current update to the prefeasibility study on the gold-in oxide material at Cuiú Cuiú, Cabral collected mineralized material from the Machichie gold-in-oxide deposit and shipped four composite samples to Kappes, Cassiday & Associates (“KCA”) lab in Reno, Nevada to conduct heap-leach metallurgical testing. The samples were collected from near-surface channel samples at a number of locations at the Machichie oxide resource.
Four composite samples were created representing the two principal material types in the resource: one composite in the colluvial blanket zone (consisting of soils and sediments) and three composites representing the saprolite zone (consisting of weathered mineralized intrusive material).
KCA completed a comprehensive series of metallurgical tests on the samples including extensive assaying, compaction and permeability tests, bottle roll tests, agglomeration tests, and column leach tests. Samples were crushed to minus 25 millimetres (“mm”) size then agglomerated with addition of 15 kilograms per tonne (“kg/t”) of cement. Leach tests were conducted in columns approximately eight feet (244cm) tall by six inches (15cm) in diameter.
Samples were subjected to leaching with a dilute cyanide solution over periods lasting from 22 to 35 days (Table 1, Figures 1 and 2). Gold recoveries in all three samples ranged from 88% to 96% with greater than 80% gold recovery after 20 days. Sodium cyanide consumption was low ranging from 0.33 kg/t to 0.49 kg/t NaCN.
Table 1. Summary of column leach test results for Machichie composite samples. g/t = grammes per tonne gold, kg/t = kilograms per tonne
Figure 1. Cumulative gold extraction vs time for four Machichie gold composite samples
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/255796_9f93e7b834219a7b_002full.jpg
Figure 2. Cumulative gold extraction vs Solution to Ore for four Machichie gold composite samples
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3900/255796_cabralfig2.jpg
Results of all four samples demonstrate excellent recoveries within 20 to 35 days. These column tests, together with previous tests on oxide material from the MG and Central gold deposits, further confirm that heap-leach processing of the oxide blanket and saprolite material is viable at Cuiú Cuiú and is the best option for processing the gold-in-oxide material.
The gold recoveries reported here (88-96%) are comparable with previous column leach tests conducted on composite oxide material from the MG gold deposit which resulted in gold recoveries of 92-93% after 68-112 days (see press release dated July 31, 2024).
Exploration Drill Program
Two diamond drill rigs have arrived on site bringing the total number of rigs currently at Cuiú Cuiú to four. Most of the drilling planned for the next few months will be exploration drilling aimed at expanding the global Indicated and Inferred resource base which currently stands at 12.29Mt @ 1.14 g/t gold (450,200oz) in fresh basement material and 11.11Mt @ 0.48 g/t gold (171,883oz) in oxide material. The project also contains Inferred resources of 13.63Mt @ 1.04 g/t gold (455,100oz) in fresh basement material and 12.22Mt @ 0.39 g/t gold (151,608oz) in oxide material (see press releases dated October 12, 2022 and October 21, 2024.
The initial focus of the drill program will be to define maiden resources at the PDM discovery located 1.5km NW of the Central gold deposit and where previous drilling has returned excellent results. The nearby Mutum target will also be tested as part of this program. Mutum has never been previously drill tested but surface trenches have returned results averaging 0.9 – 1.0 g/t over intervals up to 32m in quartz stockworks.
Additional drilling at the Central and MG gold deposits aimed at expanding the current resources, and also at the Machichie Main and the high-grade Machichie NE discoveries, is also planned as part of this program. Recent drilling at the Machichie NE target returned 11m @ 33.0 g/t gold, 12m @ 27.7g/t gold and 5m @ 24.5g/t gold (see press releases dated May 30, 2024, October 28, 2024 and April 3, 2025).
PFS Update
The recent high-grade drill results from the Machichie NE target mean this material is too high-grade to be amenable to heap leaching which has led to a broader reassessment of the Machichie mine plan and the optimal processing method for this high-grade material. This fact, together with delays in obtaining accurate updated capex estimates, has led to a delay in the completion of the updated PFS, which is now expected in Q3 2025.
Updated mine plans have been received for both the MG and Central gold deposits along with a new mine plan covering the Machichie deposit. Drill results received since the original PFS was released (see press release dated October 21, 2024), have been incorporated in the new mine plans providing revised resource and reserve estimates for the updated PFS.
Detailed project engineering, construction scheduling and updated capex estimates are also in progress. The access road to Cuiú Cuiú is in the process of being widened and improved.
Geotechnical drilling is in progress with one of the four rigs and aimed at understanding the ground conditions for the proposed plant and the site of the heap leach pads and waste pile. A total of 21 diamond drill geotechnical holes totaling 882m have been drilled to date and a further 16 holes are planned.
A program of sterilization drilling has been completed and is aimed at ensuring none of the proposed mine infrastructure sits on top of mineralized zones. A total of 12 RC holes totaling 887m have been completed to date.
About Cabral Gold Inc.
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. The Company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil. Three main gold deposits have so far been defined at the Cuiú Cuiú project which contain National Instrument (“NI”) 43-101 compliant Indicated resources of 12.29Mt @ 1.14 g/t gold (450,200oz) in fresh basement material and 11.11Mt @ 0.48 g/t gold (171,883oz) in oxide material. The project also contains Inferred resources of 13.63Mt @ 1.04 g/t gold (455,100oz) in fresh basement material and 12.22Mt @ 0.39 g/t gold (151,608oz) in oxide material. The resource estimate for the primary material is based on the NI 43-101 technical report dated October 12, 2022.The resource estimate for the oxide material is based on an NI 43-101 technical report dated October 21, 2024.
The Tapajós Gold Province is the site of the largest gold rush in Brazil’s history which according to the ANM (Agência Nacional de Mineração or National Mining Agency of Brazil) produced an estimated 30 to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer gold workings in the Tapajós and produced an estimated 2Moz of placer gold historically.
Technical information included in this release was supervised and approved by Brian Arkell, B.S. Geology and M.S. Economic Geology, SME (Registered Member), AusIMM (Fellow) and SEG (Fellow), Cabral Gold’s Vice President, Exploration and Technical Services, and a Qualified Person under NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will”, “expected” and similar expressions are intended to identify forward-looking statements. 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. Such forward-looking statements should not be unduly relied upon. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
Notes
Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by FAA525. Analytical quality is monitored by certified references and blanks. Until dispatch, samples are stored under the supervision the Company’s exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned to the Company and archived. Drill holes results are quoted as down-hole length weighted intersections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255796
