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Serabi Gold Plc
Summary
| Project: | Coringa | |
|---|---|---|
| Deposit: | Serra, Meio, Galena zones | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 1/30/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 30-1-2019: Serabi Gold Plc announces an Exploration/Drilling Update report for its Serra, Meio, Galena zones deposit at the Coringa project. Drilling results incl. 2.0m @ 25.02g/t Au from 141.50m. Serabi Gold plc (AIM: SRB, TSX: SBI), the Brazilian focuse | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael Hodgson (Internal) | |
| ABSTRACT: | Serabi Gold plc (AIM: SRB, TSX: SBI), the Brazilian focused gold mining and development company, is pleased to announce that exploration drilling conducted on its wholly-owned Coringa gold project has returned multiple high grade gold intersections on the Serra, Meio and Galena ore zones of the deposit. Recent drilling targeting both strike and plunge extensions along these three main zones has demonstrated a series of high grade intersections significantly extending the previously modelled zones. A total of approximately 5,000 metres has been drilled to date. The holes formed part of step out drill programme which commenced in October 2018 and has focused on strike and depth extensions upon the ore zones. CEO Mike Hodgson commented: “We are very happy with the exploration drilling results to date as they demonstrate significant depth and strike extensions to the main veins at Coringa. We are already well advanced with the preparation of an updated geological resource estimate and I believe that these results will translate into significant resource growth. The updated resource estimation which is planned for release before the end of the first quarter, will be followed by a Preliminary Economic Assessment (PEA) the results of which, I hope, can be published before the end of the second quarter. “As well as the ongoing drilling, we are continuing preparations to go underground at Coringa, which has principally involved some site clearance as we develop the portal. We have the Trial Mining License (GUIA) which permits underground development, and we hope to be underground and into the first ore during the second quarter. This will provide invaluable understanding of the ore body geometry which, given the nature of narrow, vertically dipping orebodies, can be difficult to understand from drill hole data alone.” | |
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