First Ore Stacked at Near-Term Brazilian Heap-Leach Project

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, July 9, 2026

Gold developers transitioning from concrete and steel to active material handling are drawing sharp market attention as bullion breaks new ground. With spot gold trading above US$4,100/oz, capital markets are actively rewarding near-term producers that successfully convert permitted oxide assets into visible commissioning milestones, particularly when mining, agglomeration, and heap stacking are already underway ahead of an imminent first pour.

Cabral Gold Inc. (TSX-Venture: CBR) (OTCQX: CBGZF) advanced Thursday after reporting that commissioning is underway at its Phase 1 gold-in-oxide heap leach project in the Cuiú Cuiú Gold District, Pará State, Brazil. The company said construction of the dry circuit is complete, overall project construction and commissioning is approximately 85% complete, and more than 90% of project costs are committed under contract.

Mining of gold-in-oxide ore from the MG orebody has commenced, with material processed through the sizer, agglomerated, and conveyed to heap leach pad 1. The adsorption, desorption and recovery plant was tested in Perth, has arrived in Brazil, and is expected on site in late July. Cabral remains on schedule for wet-circuit commissioning during Q3 2026 and commercial production ramp-up in Q4 2026.

Recall, Cabral holds a 100% interest in Cuiú Cuiú in the Tapajós region, with NI 43-101 indicated resources of 12.29Mt at 1.14 g/t gold (450,200 oz) in fresh basement material and 13.56Mt at 0.50 g/t gold (216,182 oz) in oxide material, plus inferred resources in both material types. A detailed infill drill program covering the first nine months of MG production is complete, with assays released on 124 reverse-circulation holes in line with expectations and results pending on 41 additional holes. Those results will feed a revised MG reserve estimate and updated mine plan.

President and CEO Alan Carter said commissioning of the dry plant is largely complete, mining at MG has started, and stacking on pad 1 is in progress.

CBR / CBGZF rose 6.9% and 8.9% to $1.08 and US$0.77.

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