Cabral Gold
Primary ticker: TSXV: CBR, OTC: CBGZF, FRA: C3J
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Cuiú Cuiú
Project location: Brazil
Website: cabralgold.com
Cabral Gold is (TSX-V: CBR) (OTC: CBGZF) currently focused on completing a Pre-Feasibility Study on the gold-in-oxide material at its district-scale Cuiú Cuiú gold district located within the Tapajos region of Para state, Brazil. The Cuiú Cuiú district was the largest placer gold camp during the Tapajos gold rush and produced an estimated 2Moz of placer gold. GMining recently completed the construction of the adjacent TZ gold mine which is set to become Brazil’s third largest gold mine. The Cabral team was responsible for the discovery of TZ. Cuiú Cuiú historically produced 10x more placer gold than TZ and has a gold-in-soil anomaly several times larger than TZ.
Thus far the Company has identified two gold deposits at Cuiú Cuiú with 43-101 Indicated and Inferred resources of 1.2Moz. Both deposits are open in several directions. The Company has also discovered two new gold deposits at PDM and Machichie but additional drilling is required to determine resources. In May 2024 the Company also announced it had drilled 11m @ 33g/t gold at the Machichie North target.
The Company is currently focused on the completion of a PFS study on the gold-in-oxide material which is due in Q3 and, if positive, will form the basis of a construction decision for an initial Trial Mining – heap leach project. Cash from this initial operation will be used to fund an aggressive drill program aimed at expanding the much larger global gold resource.
Cash: CAD 1M
Debt: NIL
Major shareholders:
Phoenix Gold Fund – 7%
Alan Carter -6.5%
Aegis -6.5%
Arbiter -3.5%
Management Ownership – 8%
Financials
Management Profile
Alan Carter – President & CEO
Dr. Carter 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, Portuguese and Italian. Dr. Carter has been directly involved in the discovery of 5 gold deposits, including 4 in Brazil one of which was the TZ gold deposit in which he previously held an NSR royalty. He 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 in 121 Mining Investment?
We are pursuing pathway to gold production and the current PFS study being conducted by Ausenco on the oxide portion of our resources is an important step in that direction. Given the fact that the Company controls an entire gold district in Brazil, we believe the best way of determining how many gold deposits we have at Cuiú Cuiú is by producing gold and generating cash which will allow us to internally fund an aggressive and sustained drill campaign aimed at expanding the global resource base, rather than having to rely on expensive dilutive equity financings. We are interested in connecting with investors who are interested in district scale gold opportunities and in our case a near term pathway to production.
What recent news would you like to highlight to investors attending?
31st July 2024 Cabral Gold Announces That Metallurgical Test Results from MG Gold-in-Oxide Material at Cuiú Cuiú Indicate 92 – 93% Gold Leach Recoveries. https://cabralgold.com/cabral-gold-announces-that-metallurgical-test-results-from-mg-gold-in-oxide-material-at-cuiu-cuiu-indicate-92-93-gold-leach-recoveries/
25th July 2024 Cabral Gold Drills 6m @ 13.3 g/t Gold in Step-Out Hole at the Machichie NE Target, Cuiú Cuiú Gold District, Brazil. https://cabralgold.com/cabral-gold-drills-6m-13-3-g-t-gold-in-step-out-hole-at-the-machichie-ne-target-cuiu-cuiu-gold-district-brazil/
30th May 2024 Cabral Gold Drills 11m @ 33.0 g/t gold at the Machichie NE Target, Cuiú Cuiú Gold District, Brazil. https://cabralgold.com/cabral-gold-drills-11m-33-0-g-t-gold-at-the-machichie-ne-target-cuiu-cuiu-gold-district-brazil/
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Completion of PFS
6 Months:
Construction decision on Trial Mining / Heap Leach of oxide material
12 Months:
Construction in process. Expansion of oxide and hard rock resource base
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 and financing of Trial Mining / heap leach starter operation. Prioritizing the many different drill targets within the Cuiu Cuiu district is also a challenge and is constantly changing
What do you think makes your company such a compelling investment?
Cabral’s Cuiu Cuiu project is immediately adjacent to GMining’s +2Moz $500M TZ project which is scheduled to enter commercial production in the second half of 2024 and will be Brazil’s third largest gold mine. The Cabral team was responsible for the TZ discovery. Cuiu Cuiu produced 10x more placer gold than TZ during the Tapajos gold rush and has a gold-in-soil anomaly which is several times larger. Cuiu Cuiu also has more than +45 gold targets outside the known gold deposits compared with 5 at TZ. Cabral recently drilled 11m @ 33 g/t gold at the Machichie NE target.
The Company is currently drilling and is completing a PFS on the gold-in-oxide mineralization at Cuiu Cuiu which should allow for gold production in the short term and should generate sufficient cash to allow for a greatly expanded drill program aimed at expanding the current global resource base. The CEO is also one of the largest shareholders and thus far has personally invested $1.95M into the Company so management is aligned with shareholders.
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 gold mine which will produce ~200,000oz per year and will be Brazil’s third largest gold mine
#2 Last resource update for Cuiu Cuiu was in 2022 which resulted in 1.14Moz in resources. Since then we have discovered 2 new gold deposits at Machichie and PDM (maiden resources have not yet been declared for either discovery due to insufficient drilling) The Machichie NE target recently returned 11m @ 33 g/t gold
#3 The Company is pursuing a near-term gold production with the objective of self-funding further drilling within the district and expanding the global resource base. The imminent completion of the PFS is expected during Q3 2024