The Cuiú Cuiú project is located in the Tapajos Region of northern Brazil, 20 km northwest of Eldorado Gold’s Tocantinzinho project. The Tapajos Region was the site of a gold rush from the 1970s until the late 1990s with artisanal miners producing an estimated 20 to 30 million ounces of gold. The mineralization is hosted within the Brazilian Shield, which is Archean to Proterozoic in age and extends from Western Bolivia through Brazil to Guyana and Venezuela.

In July 2022, Cabral Gold published a resource estimate based on exploration drilling at four deposits called Central / CN, JB, MG, and PDM. The mineralization can be described as stockwork/sheeted veinlet systems hosted within broad, altered shear zones within granitic rocks. Individual veinlets are typically 0.2 to 2.0 cm in width but occasionally are up to 20 cm wide. The Indicated Resource consists of 21.6 Mt of 0.9 g/t gold material for 604 kozs of gold (0.14 to 0.26 g/t cut-off). The Inferred Resource totals 19.8 Mt at a grade of 0.8 g/t gold for 535 kozs of gold (0.14 to 1.15 g/t cut-off).

During 2021, Cabral’s ongoing drill program was primarily focused on defining the high-grade zones within the MG and Central gold deposits, but Cabral Gold also identified two new, near surface gold-in-oxide blankets at MG and PDM targets, as well as a new high-grade mineralized zone in hard rock at PDM.