Cabral Gold
Financials:
Primary ticker: TSXV:CBR, OTC:CBGZF, FRA:C3J
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Cuiú Cuiú
Project location: Brazil
Website: cabralgold.com
Cabral Gold is (TSX-V: CBR) (OTC: CBGZF) focused on advancing its district-scale Cuiú Cuiú gold district located within the Tapajos region of Para state, Brazil. The Tapajos region was historically the site of the world’s largest ever gold rush (1978 – 1995) and is the largest placer gold province in Brazil. The Cuiú Cuiú district was the largest placer gold camp and produced an estimated 2Moz placer. In October 2021, Eldorado sold the adjacent TZ project to GMining for a total of US$110M. GMining recently completed a revised feasibility study and announced its intention to commence construction at TZ in mid-2022 of what will be Brazil’s third largest gold mine.
Cabral’s Cuiu Cuiu project is adjacent to TZ. The company’s near term strategy is focused on defining high-grade resources and expanding the overall resource at Cuiú Cuiú which already encompasses two gold deposits with 43-101 compliant resources of 1Moz of gold. Since the last resource update in 2018 the Company has identified 5 new mineralized zones, three of which are near surface oxide deposits. This opens up the possibility of near term gold production. A total of 4 rigs are currently operating on site generating significant news flow, and a 30,000m drill program is currently in progress.
Cash: CAD5M
Debt: /
Major shareholders:
Alan Carter 8%
Phoenix Gold Fund 8%
Crescat 7%
RBC 2%
Management ownership – 10%
Management Profile
Alan Carter – President & CEO
Dr. Carter was a co-founder of both Peregrine Metals Ltd. and Cuprum Resources Ltd., which were sold to Stillwater Mining and B&A Mineracao respectively, and is currently a director and Chairman of both Fremont Gold Inc. and Altamira Gold Corp. He has a B.Sc. degree in Geology from the University of Nottingham, U.K. and a Ph.D. degree in gold geochemistry and structural geology from the University of Southampton, U.K. He spent 10 years living in South America and is fluent in Spanish and Portuguese. Dr. Carter has been directly involved in the discovery of 5 gold deposits, including 4 in Brazil, and was a co-founder of Magellan Minerals Inc. which was acquired by Anfield Gold Corp. in May 2016 and is now part of Equinox Gold. He founded Cabral Gold in late 2016 and took the Company public in November 2017.
What is your rationale for taking part 121 Mining Investment?
We are looking to demonstrate to investors that we have a multi million ounce district at Cuiu Cuiu. Our recent high grade drill results and our newly discovered oxide deposits at surface could offer significant cash flow in the short term as we continue to explore for additional hard rocks. The oxide deposits in unconsolidated material at surface are rare and suggest that mining and processing costs will be low. The upcoming metallurgical results on the oxide material due in April / May will be key.
What recent news would you like to highlight to investors attending?
Feb 10 2022
Cabral Gold Drills 23.8m @ 5.5 g/t Gold in Unoxidized Material and 84.9m @ 0.7 g/t Gold of Oxide Material at Central within Cuiú Cuiú Gold District
Feb 2 2022
Cabral Gold Trenching Program Extends Machichie 285m to West and Returns 5m @ 8.3 g/t gold, Cuiú Cuiú Gold District, Brazil
Jan 27 2022
Cabral Gold Drills 55.1m @ 1.1 g/t Gold Including 5m @ 6.1 g/t Gold, and Identifies a Third Gold-in-Oxide Blanket Within Cuiú Cuiú Gold District
Jan 12 2022
Cabral Gold Drills 11.9m @ 3.3 g/t Gold Including 1.2m @ 16.0 g/t Gold in 120m Step-Out at PDM Target, Cuiú Cuiú Gold District
Jan 6 2022
Cabral Gold Reviews 2021 Achievements and Outlines Plans for 2022 at Cuiú Cuiú Gold District, Brazil
Dec 15 2021
Cabral Gold Drills 22.4m @ 4.8 g/t gold including 1.35m @ 62.0 g/t gold Beneath Gold-in-Oxide Blanket at PDM Target, Cuiú Cuiú Gold District, Brazil
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Drilling and definition of high grade zones within MG and Central deposits and new gold-in-oxide zones at PDM, Central and MG. Completion of metallurgical testwork on oxide material.
6 Months:
In-fill and step-out drilling and definition of the recent Machichie and PDM hard rock discoveries. Scoping study on production from oxide deposits
12 Months:
Global (district-wide) resource update
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Key challenge is continued access to capital, although we do have strong shareholder support. Prioritizing the many different targets within the Cuiu Cuiu district is also a challenge and is constantly changing – despite this we have discovered three new oxide gold deposits in the last 12 months.
What do you think makes your company such a compelling investment?
CEO is largest shareholder and thus far has personally invested $1.7M so management is aligned with shareholders. Key Cuiu Cuiu project is immediately adjacent to GMining’s recently acquired 2Moz TZ project which is scheduled to commence construction in mid-2022 and will be Brazil’s third largest gold mine. Two existing deposits at Cuiu Cuiu containing 1Moz (as of 2018 – 30,000m completed since then). 43 peripheral targets mainly high grade within 8km radius of 2 known deposits. Recent discovery of 3 gold-in-oxide blankets at surface. 4 rigs currently operating through to mid-2022 with 30,000m drill program in progress.
What are the top 3 key investor takeaways?
#1 Cabral controls a district scale opportunity which already contains multiple gold deposits and is growing rapidly. Cuiu Cuiu borders GMining’s TZ development project which will be Brazil’s third largest gold mine and will throw an enormous spotlight on the Tapajos when construction starts in mid-2022
#2 Last resource update for Cuiu Cuiu was in 2018 which resulted in 1Moz in resources based on 30,000m of drilling. An additional 30,000m has been completed since then resulting in the discovery of 5 new mineralized zones and a further 25,000m is planned over next few months (4 rigs currently turning) leading to a resource update in H2 2022
#3 Recent identification of three near surface oxide deposits in unconsolidated muds and sands opens up possibility of near term production – heap leach met results are due April – May. This is in addition to the high grade 3 (possibly 4) hard rock deposits which are currently known at Cuiu Cuiu.