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Serabi Gold Plc
Summary
| Project: | Coringa | |
|---|---|---|
| Deposit: | Coringa | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 6/20/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 20-6-2019: Serabi Gold Plc announces an Exploration/Drilling Update report for its Coringa deposit at the Coringa project. Drilling results incl. 2.65m @ 8.51g/t Au from 273.75m. Serabi Gold (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and develo | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael Hodgson (Internal) | |
| ABSTRACT: | Serabi Gold (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, is pleased to announce some additional drilling results from the conclusion of the surface drilling programme that was conducted at its wholly-owned Coringa gold project located in Para state. CEO Mike Hodgson commented: “These are the final results from the Coringa 2018-2019 drill campaign, the initial results of which underpinned the NI 43-101 compliant geological resource update, details of which were issued on 4 March 2019. That update resulted in a 37% increase in the total geological resource, so I am very pleased with the results of these final holes, which were not fully included in that updated geological resource and should contribute to a further increase in the total geological resource. This drilling campaign, which began in the fourth quarter of 2018, has increased the Meio resource significantly, extending the payable zone by some 575m of strike length to the south. The last holes drilled, COR0381 and COR0383 were drilled into this payable southern extension, with both intersecting excellent grades over mineable widths. COR0383 is especially pleasing as it is close the southern limit of the new payable zone, and the results suggest there is even more potential to the south. “From our experience at Palito and Sao Chico, we know that infill drilling on these veins from surface is impractical and that the best understanding is obtained from underground development and underground drilling. With the GUIA trial mining license (“GUIA”) in place, we are just awaiting final blasting permits, and once these are obtained, intend to commence an exploratory ramp into the Serra zone at Coringa, providing us with bulk sample data and better understanding to the orebody geometry. “Whilst a new Preliminary Economic Assessment (“PEA”) is well underway, it is clear the Meio vein is shaping up to be a very significant orebody that has now been traced for a strike length of well over 1.3 kilometres. These additional drilling results are being incorporated into a further revision of the geological resource, which in turn will be incorporated into the PEA on the Coringa Project, results of which are expected to be disclosed before the end of July 2019.” | |
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