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 nears final investment decision on Cuiú Cuiú starter heap‑leach
Key takeaways
Cabral Gold Corporation (TSXV: CBR; OTCQB: CBGZF) is approaching a final investment decision on a starter heap‑leach oxide operation at its Cuiú Cuiú gold district in Pará State, northern Brazil. Management cites a roughly $2,500 per ounce margin at current gold prices and an exceptionally short capital payback profile — management highlighted a five‑month payback while the prefeasibility study (PFS) reported a 10‑month payback in its modeling. The PFS and accompanying NI 43‑101 filings outline a low‑cost, near‑surface oxide starter producing about 18,500 ounces per year for roughly 6.2 years from a processing plant sized at about 1 Mtpa.
Why this matters now
The company says construction financing is at advanced stages and a construction decision is expected in the coming months, with the firm planning a 12‑month build to first gold targeted by the end of 2026. Reported initial capital ranges from US$37.7 million to just under US$40 million, with other references putting total funding slightly above US$40 million. Cabral expects to fund the build mainly through debt with a possible equity component. Long‑lead items have already been ordered to speed the schedule.
Project scale, resources and economics
Cabral controls 100% of the Cuiú Cuiú gold district, holding about 5,500 hectares. The consolidated resource base across multiple deposits is roughly 1.2 million ounces of gold, split between fresh primary material and oxide zones. NI 43‑101 figures referenced in the PFS show:
- 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 PFS models a starter oxide case focusing on roughly 300,000 ounces of near‑surface oxide material. Reported all‑in sustaining costs for the starter are about US$1,200–1,210 per ounce. At a gold price input of US$2,500/oz, the after‑tax internal rate of return in the PFS is an estimated 78%, with an NPV on the oxide component reported by an analyst at US$74 million. Company commentary indicates much higher returns at stronger gold prices, with internal modeling showing an IRR near 140% at around US$3,400/oz.
Construction and processing plan
The PFS outlines a heap‑leach processing route. A processing plant is being built in Australia, to be commissioned in Western Australia prior to containerised shipment to Brazil. Cabral plans to operate rotating heaps on a 120‑day cycle to enable process tweaks between cycles; the firm chose heap leaching to balance flexibility and technical risk, accepting somewhat higher operating cost versus permanent pad approaches. Construction execution will mix in‑house work with an engineering partner experienced in Brazil, and a Brazilian mining engineer with local build experience has been hired to oversee execution.
Exploration upside and district potential
Management describes substantial exploration upside across the district and has identified four new discoveries plus roughly 50 additional targets with encouraging surface and drill results. Cabral is running three drill rigs across the district. High‑grade drill hits reported include multi‑meter intersections such as 11 m at 33 g/t Au, 12 m at 27 g/t Au, 39 m at 5.1 g/t Au, and 22 m at 4.8 g/t Au among others. The company is targeting a doubling of its current ~1.2 Moz resource within 12–18 months through aggressive drilling and aims to deliver maiden resources on the new discoveries within about 12 months.
Permitting, local context and regional neighbours
Permitting expertise has been added to the board to support regulatory work. The project sits in the Tapajós region adjacent to a large, recently commissioned mine that produces on the order of 200,000 oz per year, providing regional operating context. The Tapajós area has a long history of placer production, with historic estimates of tens of millions of ounces recovered from the province and nearly two million ounces taken historically from Cuiú Cuiú placer workings.
Timing, financing and next steps
Cabral expects construction funding and a formal construction decision within weeks to months, with planned commissioning and first gold timed for the end of 2026 under the stated build schedule. The starter operation’s cashflow is intended to support ongoing exploration across the district and reduce reliance on repeated equity raises. Management has also signaled continued drill testing, resource expansions and staged development options beyond the starter case.
Risks and context
Risks typical to mining development apply, including the need to secure final financing, obtain permits, execute construction on schedule and achieve forecasted operating performance and recoveries. Economic outcomes are sensitive to gold price movements, capital costs and operating costs. Several economic figures in this material are based on modelled scenarios and third‑party commentary; readers should consider independent analysis for investment decisions.
Frequently Asked Questions
What is the scale of Cabral’s Cuiú Cuiú resource?
The consolidated resource across multiple deposits is about 1.2 million ounces of gold, split between fresh basement and oxide material as detailed in NI 43‑101 reports.
What does the starter operation look like?
The starter is a heap‑leach oxide operation sized at roughly 1 Mtpa, producing about 18,500 oz per year for approximately 6.2 years, built around near‑surface oxide ounces.
How much initial capital is required and how fast will it pay back?
Initial capital is reported around US$37.7–40+ million. Management cited a roughly five‑month payback at current prices; the PFS scenario modeled a 10‑month payback at US$2,500/oz.
What are the expected operating costs?
All‑in sustaining costs for the starter operation are reported at about US$1,200–1,210/oz.
What exploration plans are in place?
Cabral is operating three drill rigs, has identified four new discoveries and about 50 additional targets. The company aims to expand the current resource and add maiden resources on new discoveries within 12 months.
Where will the processing plant be built?
The processing plant is under construction in Australia, to be commissioned in Western Australia and then shipped to Brazil in containers for site installation.
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Key features at a glance
| Feature | Details |
|---|---|
| Company | Cabral Gold Corporation (TSXV: CBR; OTCQB: CBGZF) |
| Project | Cuiú Cuiú gold district, Tapajós region, Pará State, Brazil |
| Landholding | Approximately 5,500 hectares |
| Consolidated resource | ~1.2 million ounces (indicated + inferred across oxide and fresh) |
| Starter production | ~18,500 oz/year for ~6.2 years (oxide starter) |
| Processing | Heap leach, ~1 Mtpa processing capacity |
| Initial capex | US$37.7M to ~US$40M (reported ranges) |
| AISC | ~US$1,200–1,210/oz |
| Model price scenario | US$2,500/oz used in key PFS metrics |
| PFS economics | After‑tax IRR ~78% at US$2,500/oz; oxide NPV cited at ~US$74M (analyst figure) |
| Payback | Management: ~5 months; PFS scenario: ~10 months at US$2,500/oz |
| Drilling activity | 3 drill rigs operating; multiple high‑grade intersections reported |
| Exploration targets | 4 new discoveries identified; ~50 additional targets flagged |
| Construction timeline | ~12 months from start; first gold targeted by end of 2026 |
| Plant commissioning plan | Commission plant in Western Australia, then ship to Brazil |
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
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