Cabral Gold Reviews Progress During 2024 and Outlines Plans for 2025 at Cuiú Cuiú Gold District, Brazil
Cabral Gold reports significant progress at the Cuiú Cuiú gold district in Brazil during 2024. Key developments include the Machichie NE discovery with high-grade gold findings (11m @ 33g/t gold), and completion of a Pre-Feasibility Study (PFS) for an initial starter operation showing an after-tax IRR of 47.3% and NPV5 of US$25.2M, with estimated capex of US$37.4M.
The company identified a fifth gold-in-oxide blanket at Jerimum Cima, with promising trench results. Notable drilling results were reported at the Central gold deposit and Machichie Main zone. The company successfully raised $4.36M through private placements and strengthened its management team.
For 2025, Cabral plans a two-stage development strategy, focusing on near-term production to generate cash flow for expanded drilling programs. Immediate priorities include upgrading Inferred oxide resources to Indicated status and completing detailed engineering.
Cabral Gold riporta progressi significativi nel distretto aurifero di Cuiú Cuiú in Brasile durante il 2024. Tra i principali sviluppi c'è la scoperta Machichie NE con risultati di alta qualità in oro (11m @ 33g/t oro) e il completamento di uno Studio di Pre-Fattibilità (PFS) per un'operazione iniziale che mostra un IRR post-tasse del 47,3% e un NPV5 di 25,2 milioni di dollari, con capex stimato di 37,4 milioni di dollari.
L'azienda ha identificato una quinta coperta di oro in ossido a Jerimum Cima, con risultati promettenti dai sondaggi. Sono stati riportati risultati notevoli di perforazione nel deposito d'oro Centrale e nella zona Machichie Main. L'azienda ha raccolto con successo 4,36 milioni di dollari tramite collocamenti privati e ha rafforzato il proprio team di gestione.
Per il 2025, Cabral prevede una strategia di sviluppo in due fasi, concentrandosi su una produzione a breve termine per generare flussi di cassa per programmi di perforazione ampliati. Le priorità immediate includono l'aggiornamento delle risorse ossidate Inferred a status Indicated e il completamento della progettazione dettagliata.
Cabral Gold informa sobre avances significativos en el distrito aurífero Cuiú Cuiú en Brasil durante 2024. Los desarrollos clave incluyen el descubrimiento de Machichie NE con hallazgos de oro de alta ley (11m @ 33g/t de oro) y la finalización de un Estudio de Pre-Factibilidad (PFS) para una operación inicial que muestra un IRR después de impuestos del 47,3% y un NPV5 de 25,2 millones de dólares, con capex estimado de 37,4 millones de dólares.
La compañía identificó una quinta capa de oro en óxido en Jerimum Cima, con resultados prometedores de zanjas. Se reportaron resultados notables de perforación en el depósito de oro Central y en la zona Machichie Main. La empresa logró recaudar 4,36 millones de dólares mediante colocaciones privadas y fortaleció su equipo de gestión.
Para 2025, Cabral planea una estrategia de desarrollo en dos etapas, enfocándose en la producción a corto plazo para generar flujo de caja para programas de perforación ampliados. Las prioridades inmediatas incluyen actualizar los recursos de óxido Inferidos a estatus Indicados y completar la ingeniería detallada.
Cabral Gold는 2024년 브라질 Cuiú Cuiú 금 지구에서 중요한 발전을 보고했습니다. 주요 발전 사항 중 하나는 고급 금 발견을 포함한 Machichie NE 발견 (11m @ 33g/t 금)과 초기 시작 운영을 위한 사전 타당성 조사(PFS) 완료이며, 이 조사는 세후 IRR이 47.3%이고 NPV5가 2,520만 달러이며, 추정 자본 지출(capex)이 3,740만 달러입니다.
회사는 Jerimum Cima에서 다섯 번째 금-산화층을 확인했으며, 유망한 도랑 결과를 보였습니다. 중앙 금 매장지와 Machichie Main 구역에서 주목할 만한 시추 결과가 보고되었습니다. 또한, 회사는 사모 배정을 통해 436만 달러를 성공적으로 모집하고 경영진을 강화했습니다.
Cabral은 2025년을 위해 두 단계 개발 전략을 계획하고 있으며, 단기 생산에 집중하여 확장된 시추 프로그램을 위한 현금 흐름을 생성하려고 합니다. 즉각적인 우선 사항은 추정 산화 자원을 지표 상태로 업그레이드하는 것과 상세 엔지니어링을 완료하는 것입니다.
Cabral Gold rapporte des progrès significatifs dans le district aurifère de Cuiú Cuiú au Brésil au cours de l'année 2024. Parmi les développements clés figurent la découverte de Machichie NE avec des résultats aurifères de haute qualité (11m @ 33g/t d'or) et l'achèvement d'une Étude de Pré-Faisabilité (PFS) pour une opération de démarrage initiale montrant un TRI après impôt de 47,3 % et un VNC5 de 25,2 millions USD, avec des capex estimés à 37,4 millions USD.
L'entreprise a identifié une cinquième couverture en or oxydé à Jerimum Cima, avec des résultats prometteurs des tranchées. Des résultats de forage notables ont été rapportés au dépôt d'or central et à la zone principale de Machichie. L'entreprise a réussi à lever 4,36 millions de dollars par le biais de placements privés et à renforcer son équipe de direction.
Pour 2025, Cabral prévoit une stratégie de développement en deux phases, se concentrant sur la production à court terme pour générer des flux de trésorerie pour des programmes de forage élargis. Les priorités immédiates incluent la mise à niveau des ressources oxydées inférées au statut indiqué et l'achèvement de l'ingénierie détaillée.
Cabral Gold berichtet über erhebliche Fortschritte im Goldbezirk Cuiú Cuiú in Brasilien im Jahr 2024. Zu den wichtigsten Entwicklungen gehört die Machichie NE-Entdeckung mit hochgradigen Goldeinstiegen (11m @ 33g/t Gold) und der Abschluss einer Voruntersuchung (PFS) für eine initiale Betriebsaufnahme, die eine Nachsteuer-IRR von 47,3% und einen NPV5 von 25,2 Millionen US-Dollar zeigt, mit geschätzten Investitionen von 37,4 Millionen US-Dollar.
Das Unternehmen identifizierte eine fünfte Gold-Oxid-Schicht bei Jerimum Cima, mit vielversprechenden Grabenresultaten. Bemerkenswerte Bohrergebnisse wurden im zentralen Goldlager sowie in der Machichie-Hauptzone gemeldet. Das Unternehmen konnte erfolgreich 4,36 Millionen US-Dollar durch Privatplatzierungen aufbringen und sein Management-Team stärken.
Für 2025 plant Cabral eine Entwicklungstrategie in zwei Phasen, die sich auf eine kurzfristige Produktion konzentriert, um Cashflow für erweiterte Bohrprogramme zu generieren. Sofortige Prioritäten sind die Aufwertung der geschätzten Oxidressourcen auf den Status angezeigt sowie der Abschluss der detaillierten Ingenieurausarbeitung.
- New high-grade gold discovery at Machichie NE with impressive results (11m @ 33g/t gold)
- PFS shows attractive 47.3% after-tax IRR and US$25.2M NPV5 for starter operation
- Fifth gold-in-oxide blanket discovered at Jerimum Cima (18m @ 1.9 g/t gold)
- Successful fundraising of $4.36M despite difficult market conditions
- Significant capex requirement of US$37.4M needed for project development
Vancouver, British Columbia--(Newsfile Corp. - January 7, 2025) - Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) ("Cabral" or the "Company") is pleased to provide a summary of the progress achieved during 2024 at the Cuiú Cuiú gold district in northern Brazil, and an outline of its plans for 2025.
Progress during 2024
The Company made significant progress during 2024 which can be summarized as follows:
- Machichie NE discovery. A new high-grade gold discovery was made at the Machichie NE target at Cuiú Cuiú, which is located just 150m NE of the Machichie Main discovery, and 650m north of the MG gold deposit. Drill results include 11m @ 33g/t gold, 6m @ 13.3 g/t gold and 5m @ 24.5 g/t gold, and the zone has so far been traced 200m along strike and remains open (see press releases dated May 30, July 25 and October 28, 2024)
- Completion of PFS confirms financially attractive Initial Starter Operation. The Company completed a pre-feasibility study ("PFS") on an initial starter operation to mine and heap-leach process near-surface oxide material at Cuiú Cuiú. This short-term development pathway study supports the generation of cash flow to accelerate the ongoing exploration of the Cuiú Cuiú district while transitioning away from equity financings (see press release dated October 21, 2024)
- The PFS base case resulted in an after-tax IRR of
47.3% and after-tax NPV5 of US$25.2 million for an initial 720,000 tonne / yr starter operation at a gold price of$2,250 / oz. The capex estimate is US$ 37.4 million , including a10% allowance on most quantities and a20% contingency
- Jerimum Cima target. A fifth gold-in-oxide blanket was identified at Jerimum Cima. Initial trench results include 18m @ 1.9 g/t gold and the blanket appears to extend over an area of 1000 x 900m. Previous reconnaissance drilling at Jerimum Cima returned 14m @ 1.6 g/t gold, 20m @ 1.2 g/t gold, 10m @ 1.3 g/t gold and 24m @ 0.7 g/t gold in weathered gold-in-oxide blanket and saprolite material (see press release dated November 14, 2024)
- Central gold deposit. Drilling at the Central gold deposit returned 10m @ 10.5 g/t gold in fresh rock, including 1m @ 63.6 g/t gold and 1m @ 28.3 g/t gold, confirming the presence of significant high-grade material within the larger lower grade resource (see press release dated January 11, 2024)
- Machichie Main discovery. Drilling at the Machichie Main zone, located 500m north of the MG gold deposit, returned 30m @ 2.6 g/t gold and 23m @ 1.1 g/t gold within near-surface weathered oxide material, confirming the presence of a new zone of oxide material of excellent grade which is likely to have a significant positive impact on the PFS base case in the coming months (see press releases dated January 25 and February 6, 2024)
- We continue to build our team through strategic management appointments. The Company appointed Brian Arkell as VP Exploration and Technical Services in April and Samantha Shorter as CFO in July. Both Brian and Samantha have significant production experience and have had an immediate impact on the Company's progress (see press releases dated April 3 and July 9, 2024)
- Financing. Despite difficult market conditions the Company raised a total of
$4.36M through private placements which closed in April and December (see press releases dated April 29 and December 20, 2024)
Plan for 2025
The Company is pursuing a two-stage development strategy for the Cuiú Cuiú district, which currently contains two significant gold deposits with resources, three new discoveries, and a large number of targets (+50) with gold in trenches, drill holes and boulders.
Stage 1 of this strategy involves near-term production aimed at generating free cash flow to fund an ambitious drilling program to prioritize the growth of the much larger hard rock resource base, which could support a much larger operation (Stage 2). The recent completion of the PFS on an initial starter mining / heap leach operation at Cuiú Cuiú is a major step forward in this regard.
A major focus for the first six months of 2025 will be on drilling and upgrading the Inferred oxide resources at Central and Machichie Main to Indicated status. This will allow for the inclusion of additional Indicated resources in the PFS base case mine plan. In parallel, the Company will complete detailed engineering on the project.
The Company is also progressing discussions with a number of parties that have expressed an interest regarding financing of the project.
Further trenching and drilling is also planned at the Machichie NE target during 2025 where drilling during 2024 returned 11m @ 33g/t gold, 6m @ 13.3 g/t gold and 5m @ 24.5 g/t gold. With such an encouraging start, we aim to rapidly assess the target's potential to add quality high grade ounces to our oxide and primary resources.
Additional trenching and RC drilling is also planned at the Jerimum Cima gold-in-oxide blanket which is currently estimated to extend over an area of 1000 x 900m and could further enhance the strength of the oxide project in its early years.
Recent Financing
Further to the Company's news release dated December 20, 2024, announcing completion of its non-brokered private placement, a director of the Company participated in the private placement through the purchase of 833,333 units for proceeds of
Grant of Options
Cabral's Board of Directors has also approved the granting of stock options pursuant to the Plan. The stock options entitle the holders to purchase a total of 5,725,000 common shares in the capital stock of the Company at a price of
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
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
"Alan Carter"
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
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. This news release contains forward-looking statements and assumptions pertaining to the following: strategic plans and future operations, and results of exploration. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. 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/236273
FAQ
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