Drill Results Routine +

Cabral Gold Drills Significant New Mineralized Zone between the Central and PDM Gold Deposits and Expands the PDM Gold-in-Oxide Blanket, Cuiu Cuiu Gold District, Brazil

Cabral’s Cuiú Cuiú project advances toward q4 production while mounting debt and negative equity persist.

By The Northwire Desk — AI Analysis Jun 23, 2026 · 06:30 CBR · 0.92 Cabral Gold Inc.

Executive Summary

Cabral Gold announced reconnaissance core drilling results at the Mutum target within the Cuiú Cuiú Gold District, Brazil.
Hole DDH387 intersected a new mineralized zone in primary intrusive rocks, returning 20.7m @ 1.6 g/t Au from 131.4m depth, including 2.5m @ 5.7 g/t Au.
Near-surface oxide intercepts across multiple holes indicate the PDM gold-in-oxide blanket has expanded from 26 to over 40 hectares.
The results suggest a geological link between the Central and PDM deposits, likely controlled by a NW-trending boundary fault.
Management plans additional drilling to test down-dip extensions and further delineate the new zone and oxide blanket.
Phase 1 gold-in-oxide heap leach operation remains on track for commercial production in Q4 2026.

Material Impact

The drilling results are consistent with the company's ongoing exploration narrative and previous announcements at Mutum (Dec 2025) and PDM (Oct 2025).
The expansion of the oxide blanket and discovery of a new primary zone are positive but incremental. They do not alter the immediate construction timeline or the Q4 2026 production target.
The market has already priced in the exploration progress and the $45.1M gold loan. This update serves as validation of the geological model rather than a new catalyst.
No change to the company's financial profile or near-term cash flow requirements. The news is expected and aligns with the pre-production phase.

CBR · Price

Company Overview

Cabral Gold Inc. is developing the Cuiú Cuiú Gold District in the Tapajós Gold Province of northern Brazil.
The flagship project is a Phase 1 gold-in-oxide heap-leach starter operation targeting near-surface saprolite and soil material.
Updated Pre-Feasibility Study (July 2025) outlines a 1 Mt/yr processing plant, 6.2-year mine life, and 113,155 oz of total production.
Financial metrics (base case $2,500/oz): NPV5 of US$73.9M, after-tax IRR of 78%, AISC of US$1,210/oz, and a payback period of 10 months.
Construction is approximately 70% complete, with major equipment procurement over 90% finished. Plant commissioning is targeted for June 2026, with commercial production expected in Q4 2026.
Management emphasizes the simplicity of the heap-leach process (no crushing/grinding required) and the strong safety record on site.

More from Cabral Gold Inc.