Cabral Gold
Cabral Gold is a mining company with significant gold deposits in Brazil, focusing on the Cuiú Cuiú project, which is adjacent to Brazil's soon-to-be third largest gold mine.
Gold Deposits and Resources
Cabral Gold has two main gold deposits located 5km apart. These deposits have NI 43-101 resources totaling 21.6 million tonnes at 0.87 g/t gold, which translates to 604,000 ounces. Additionally, the company has Inferred Resources of 19.8 million tonnes at 0.84 g/t gold, equating to 534,500 ounces.
Cuiú Cuiú Project Overview
The Cuiú Cuiú project is a key asset for Cabral Gold. It is positioned adjacent to GMining’s TZ project, with planned production starting in the second half of 2024. This development will make TZ Brazil's third largest gold mine. The Cuiú Cuiú project has already produced ten times more placer gold than the TZ and spans a district of 15 x 10km, containing 43 exploration targets around four known deposits.
New Discoveries and Indicated Resources
Cabral Gold recently made significant discoveries including two hard rock deposits at PDM and Machichie. The company has also identified three gold-oxide blankets, which have Indicated Resources of 9.3 million tonnes at 0.52 g/t gold (153,700 ounces) and Inferred Resources of 6.1 million tonnes at 0.40 g/t gold (79,200 ounces). The oxides are unconsolidated, suggesting low-cost mining and processing, supported by column leach tests showing 82% gold recovery over 70 days.
Prefeasibility Study
A prefeasibility study on the production from oxide material at Cabral Gold’s Cuiú Cuiú project is currently underway, with expected completion in the third quarter of 2023. The study will provide detailed insights into the economic viability of mining and processing the oxide materials.
Private Placement Financing
On April 9, 2024, Cabral Gold announced a $2M Private Placement Financing. Shortly after, on April 19, 2024, the company closed the first tranche of an over-subscribed Private Placement. This influx of capital will support ongoing and future operations, including the development of the Cuiú Cuiú project.