Cuiú Cuiú, Tapajós region, Pará, Brazil, September 25, 2025
News Summary
Cabral Gold is nearing a final investment decision on a starter heap‑leach oxide operation at its Cuiú Cuiú gold district in the Tapajós region of Pará, Brazil. The prefeasibility study models a low‑cost, near‑surface starter producing about 18,500 ounces per year from a ~1 Mtpa plant with a compact payback profile; management cites an even faster payback under current prices. Initial capital is reported near US$37.7–40+ million with construction financing advancing and long‑lead items ordered. Cabral controls roughly 5,500 hectares and a consolidated ~1.2Moz resource base while running active drilling and pursuing district exploration upside.
Cabral Gold moves toward final investment decision on Cuiú Cuiú heap‑leach starter
Cabral Gold Corporation (TSXV: CBR; OTCQB: CBGZF) is close to taking a construction decision for a small, low‑cost heap‑leach starter at its Cuiú Cuiú gold district in Pará state, northern Brazil. The company reports robust project economics, a rare short capital payback profile, and significant exploration upside across a multi‑deposit land package that it controls in full.
Big picture: economics, payback and scale
The company’s updated prefeasibility study (PFS), supported by an NI 43‑101 technical report, presents a starter oxide heap‑leach case that is modest in scale but high in margins. The starter operation is modeled to produce about 18,500 ounces of gold per year over roughly 6.2 years, drawing from an initial phase of approximately 300,000 ounces of near‑surface oxide material. Processing is planned at roughly 1 million tonnes per year (≈1 Mtpa).
Key PFS economics include projected all‑in sustaining costs of about US$1,200–1,210 per ounce and initial capital in the US$37.7–~40 million range, depending on the citation. At a notional gold price used by management of US$2,500 per ounce, after‑tax internal rate of return (IRR) on the oxide component is reported at 78% and an NPV on the oxide case was cited around US$74 million by an external commentator. Company commentary also shows a much higher IRR if gold rises further.
Very short payback claimed
Management highlights a particularly rapid capital recovery, describing a payback measured in months rather than years. The company cites an internal management payback estimate of about five months at current prices and margins, while the PFS economics show a 10‑month payback in the PFS scenario using a US$2,500/oz gold input. The starter cashflows are described as sufficient to fund ongoing district exploration.
Resources and technical filings
Cabral controls 100% of the Cuiú Cuiú district and holds roughly 5,500 hectares. The consolidated resource base reported across multiple deposits is approximately 1.2 million ounces of gold.
Resource breakdown from NI 43‑101 figures:
- Indicated (fresh basement): 12.29 Mt at 1.14 g/t Au = 450,200 oz
- Indicated (oxide): 13.56 Mt at 0.50 g/t Au = 216,182 oz
- Inferred (fresh basement): 13.63 Mt at 1.04 g/t Au = 455,100 oz
- Inferred (oxide): 6.4 Mt at 0.34 g/t Au = 70,569 oz
The primary (fresh) resource is drawn from a NI 43‑101 report dated October 12, 2022. Oxide figures for specific sectors were filed in NI 43‑101 reports dated October 21, 2024 (PDM and MG) and July 29, 2025 (Central and Machichie). The NI 43‑101 filing for the PFS was published following a July 29, 2025 news release and reportedly contained no material differences from that release.
Exploration upside and ongoing drilling
The company emphasizes district‑scale potential. Management has identified four new discoveries and roughly 50 additional targets that have returned encouraging trench and drill values. Cabral is actively running three drill rigs across the district and has reported several high‑grade intersections, including:
- 11 m at 33 g/t Au (Machichie NE zone)
- 12 m at 27–27.7 g/t Au (Machichie NE)
- 39 m at 5.1 g/t Au (Jerimum Cima)
- 22 m at 4.8 g/t Au (PDM)
- 5 m at 24.5 g/t Au (Machichie area)
Management targets doubling the roughly 1.2 million ounce resource base within 12–18 months through drilling and aims to define maiden resources on the four new discoveries within 12 months.
Construction, financing and execution
Cabral has set a 12‑month construction timeline for the starter case. The company has ordered long‑lead items and reports construction financing at advanced stages, expecting financing within weeks to months and an imminent construction decision pending final funding. The planned funding mix is principally debt with a potential equity component.
Processing plant logistics and execution are significant features of the plan. A modular processing plant is under construction in Australia, intended for commissioning there before containerised shipment to Brazil. Heap leaching will be used with four rotating heaps on a 120‑day cycle to allow operational adjustments. Construction execution will blend in‑house capability with external engineering support from a large international firm with regional experience. A Brazilian mining engineer with prior local build experience has been retained to assist execution, and a former regulatory head from Brazil’s largest miner was added to the board to strengthen permit navigation.
Regional context, history and market backdrop
Cuiú Cuiú lies adjacent to an operating large regional mine that began production in 2024 and is expected to produce around 200,000 ounces annually. The broader Tapajós Gold Province has a deep placer mining history, with historical estimates of 30–50 million ounces recovered regionally between 1978 and 1995 and an estimated 1.5–2.0 million ounces historically produced from the Cuiú Cuiú area itself.
Company commentary places current global gold prices and institutional interest as supportive of the project economics and of investor appetite for smaller, advancing gold developers.
Other corporate and market details
Recent corporate actions include an option grant of 1,475,000 stock options exercisable at CA$0.45, vesting over 24 months. Management has disclosed a personal investment that signals alignment with the project. External commentator notes on market valuation and cash balances were cited in background material, but readers are advised those are independent assessments and should be viewed separately from company filings.
Risks and next steps
Key near‑term milestones include securing construction finance, making a final investment decision, delivering the modular plant from Australia and commissioning in Brazil, and continuing drilling to expand and convert resources. Operational, permitting, market and execution risks remain and will affect timing and outcomes.
Frequently Asked Questions
What decision is Cabral preparing to make?
Cabral is preparing a final investment decision to construct a starter heap‑leach oxide operation at Cuiú Cuiú, pending project financing and final approvals.
What are the expected capital costs and payback?
Reported initial capital is in the range of US$37.7 million to just under US$40 million, with some commentary noting slightly above US$40 million for total funding. Management describes a very short payback in months at current gold prices, while the PFS shows a 10‑month payback in its given scenario.
How much gold could the starter produce?
The starter oxide case is modeled to produce about 18,500 ounces per year over roughly 6.2 years, drawing from an initial ~300,000 ounce oxide inventory.
What is the current resource base?
The consolidated resource cited across multiple deposits is about 1.2 million ounces, including indicated and inferred categories across fresh and oxide material as reported in NI 43‑101 filings.
What exploration activity is ongoing?
Three drill rigs are active, four new discoveries have been reported, and roughly 50 additional targets have returned encouraging results in trenches and drill holes. The company aims to expand and convert resources over the next 12–18 months.
What are the main risks?
Main risks include securing financing on the proposed terms, timely construction and shipment of the modular plant, permitting and regulatory approvals, technical execution of heap leach and heap permeability management, and commodity price movements.
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Key features at a glance
| Feature | Detail |
|---|---|
| Company | Cabral Gold Corporation (TSXV: CBR; OTCQB: CBGZF) |
| Project | Cuiú Cuiú gold district, Pará, Brazil; ~5,500 ha; 100% owned |
| Starter plan | Heap‑leach oxide operation; ~1 Mtpa; ~18,500 oz/yr for 6.2 years |
| Initial capex | US$37.7M to ~US$40M (various cited figures) |
| AISC | ~US$1,200–1,210/oz |
| Payback | Management: ~5 months; PFS scenario: 10 months (at US$2,500/oz) |
| Resources | Consolidated ~1.2 Moz (indicated + inferred; fresh + oxide) |
| Drilling & discoveries | 3 rigs active; 4 new discoveries; ~50 targets; multiple high‑grade hits |
| Timeline | 12‑month construction plan; target first gold by end of 2026 (management guidance) |
Deeper Dive: News & Info About This Topic
Additional Resources
- Newsfile: Cabral Gold files NI 43‑101 for updated PFS at Cuiú Cuiú
- Wikipedia: Cabral Gold
- Kitco: Cabral Gold’s Cuiú Cuiú project — set for growth as gold soars
- Google Search: Cabral Gold Cuiú Cuiú
- Streetwise Reports: Gold miner has massive high‑grade gold in Brazil
- Google Scholar: Cabral Gold Cuiú Cuiú
- Resource World: Cabral Gold files NI 43‑101 technical report for updated PFS
- Encyclopedia Britannica: Cabral Gold Cuiú Cuiú
- Crux Investor: Cabral Gold — two‑stage development strategy
- Google News: Cabral Gold Cuiú Cuiú
Author: Construction TX News
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