For immediate release
20
June 2019
Serabi Gold plc(“Serabi”
or the “Company”)
Final Exploration Results for
Coringa ahead of Preliminary Economic Assessment
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.
A pdf version of this news release including
images can be accessed using the following link.-
https://bit.ly/2ZI2cQb
Coringa Drilling Highlights
- Hole COR0381 - intersected 2.65m @ 8.51 g/t gold (inc. 1.40m @
15.82 g/t gold)
- Hole COR0383 - intersected 1.15m @ 9.69 g/t gold (inc. 0.6m @
17.74 g/t gold)
- Hole COR0380 - intersected 0.75m @ 7.61 g/t gold
- Hole COR0374 - intersected 0.80m @ 0.44 g/t gold
- Hole COR0377 - intersected 0.70m @ 0.39 g/t gold
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.”
Drilling Results
The assay results for the six holes in this
release were not included in the NI 43-101 compliant geological
resource estimation published on March 4 2019. These six
results represent the final 2 holes (COR0382 and COR0383) of the
drill programme, together with the assays results from the
independent laboratory (SGS Geosol, Belo Horizonte) for four holes
where the previous disclosure was only of assays results generated
by the Company’s own laboratory.
Hole COR0383 targeted the Meio #2 vein and
intersected 1.15m @ 9.69g/t Au (including 0.6m @ 17.74m) from 134.2
metres down hole depth. This intercept was a significant ‘step out’
hole, increasing the total drilled strike of the Meio #2 vein to
1,300 metres.
External laboratory analyses have now been
received from SGS Geosol (“SGS”) for drill holes COR0374, COR0377,
COR0380 and COR0381. Whilst these drill holes were used to assist
the geological interpretation of the Meio vein, the internally
generated assay data was excluded from the previous resource
estimation.
The final assay results from the four previously
disclosed drill holes together with the assay results from the
final two drill holes are listed below:
Hole |
Target |
East |
West |
RL |
Depth (m) |
Dip/Azm |
From |
To |
Width |
Gold Grade |
(UTM- WGS84) |
(UTM- WGS84) |
(°/°UTM) |
(m) |
(m) |
(m) |
(Au g/t) |
COR0374 |
Meio 4 |
716736 |
9162500 |
297.76 |
340.17 |
-64/040 |
248.90 |
249.70 |
0.80 |
0.44 |
COR0377 |
Meio 4 |
716619 |
9162732 |
291.68 |
266.65 |
-59/004 |
225.50 |
226.20 |
0.70 |
0.39 |
COR0380 |
Meio 4 |
716291 |
9163043 |
289.11 |
281.95 |
-63/093 |
174.80 |
175.55 |
0.75 |
7.61 |
COR0381 |
Meio
4 |
716291 |
9163043 |
289.11 |
283.35 |
-65/004 |
121.00 |
122.15 |
1.15 |
0.46 |
|
|
|
|
|
|
|
170.60 |
171.00 |
0.40 |
0.29 |
|
|
|
|
|
|
|
273.75 |
276.40 |
2.65 |
8.51 |
|
|
|
|
|
|
Incl. |
275.00 |
276.40 |
1.40 |
15.82 |
COR0382 |
Meio
2 |
715459 |
9164106 |
384.79 |
313.09 |
-76/210 |
133.10 |
134.10 |
1.00 |
0.39 |
|
|
|
|
|
|
|
138.80 |
141.10 |
2.30 |
0.33 |
|
|
|
|
|
|
|
163.50 |
164.10 |
0.60 |
0.50 |
|
|
|
|
|
|
|
186.60 |
187.60 |
1.00 |
0.53 |
COR0383 |
Meio
2 |
716116 |
9163415 |
359.44 |
200.12 |
-70/200 |
133.10 |
133.40 |
0.30 |
0.65 |
|
|
|
|
|
|
|
134.20 |
135.35 |
1.15 |
9.69 |
|
|
|
|
|
|
Incl. |
134.20 |
134.80 |
0.60 |
17.74 |
|
|
|
|
|
|
|
151.70 |
152.15 |
0.45 |
0.90 |
|
|
|
|
|
|
|
154.05 |
154.55 |
0.50 |
0.52 |
|
|
|
|
|
|
|
155.95 |
157.05 |
1.10 |
0.52 |
|
|
|
|
|
|
|
159.90 |
160.90 |
1.00 |
0.47 |
|
|
|
|
|
|
|
166.50 |
167.50 |
1.00 |
0.31 |
Reported intercepts calculated based on a minimum weighted average
grade of 0.3g/t Au using a 0.5g/t Au weighted average lower cut and
a maximum internal waste interval of 1.2m based on
SGS reported analyses. |
These drill holes formed part of step out drill
programme along the strike projection of the structures focussed on
testing the strike or plunge projections of a number of the key
lode structures which commenced in mid-2018.
Use the following link to access the drill hole
location map - https://bit.ly/2Kqib1t
Map of Coringa drill location
Use the following link to access the Meio Vein
longtitudinal section - https://bit.ly/2ZA3AnS
Meio Vein section showing the strike extension
and the strike added by the drilling campaign
The Company has also undertaken a re-logging and
re-sampling programme that was completed on historic Coringa drill
holes in the first half of 2019. A total of 179 early Coringa
drill holes were reassessed. Re-sampling was completed on 43 of the
179 drill holes honouring geological contacts and quartz vein
structures. A total of 92 core samples were analysed and
significant grade increases reported in many mineralised
intersections, as a consequence of the exclusion of the dilution
effects of unmineralised host wall rocks that the previous owners
had included within the sampled intervals. These improved
intercepts are now being used in a further revision of the
geological resource estimate and will be incorporated in the PEA
the initial result of which are due to be issued before the end of
July 2019.
This announcement is inside information for the
purposes of Article 7 of Regulation 596/2014.
The person who arranged for the release of this
announcement on behalf of the Company was Clive Line, Director.
Enquiries:
Serabi Gold plc |
|
Michael Hodgson |
Tel: +44 (0)20 7246 6830 |
Chief Executive |
Mobile: +44 (0)7799 473621 |
|
|
Clive Line |
Tel: +44 (0)20 7246 6830 |
Finance Director |
Mobile: +44 (0)7710 151692 |
|
|
Email: contact@serabigold.com |
|
Website: www.serabigold.com |
|
|
|
Beaumont Cornish LimitedNominated Adviser and Financial
Adviser |
|
Roland Cornish |
Tel: +44 (0)20 7628 3396 |
Michael Cornish |
Tel: +44 (0)20 7628 3396 |
|
|
Peel Hunt LLPUK Broker |
|
Ross Allister |
Tel: +44 (0)20 7418 8900 |
James Bavister |
Tel: +44 (0)20 7418 8900 |
|
|
Copies of this announcement are available from
the Company's website at www.serabigold.com.
Neither the Toronto Stock Exchange, nor any
other securities regulatory authority, has approved or disapproved
of the contents of this announcement.
GLOSSARY OF TERMS
The following is a glossary of technical
terms:
“Au” means gold.
“assay” in economic geology, means to
analyse the proportions of metal in a rock or overburden sample; to
test an ore or mineral for composition, purity, weight or other
properties of commercial interest.
“development” - excavations used to establish
access to the mineralised rock and other workings
“DNPM” is the Departamento Nacional de Produção
Mineral.
“grade” is the concentration of mineral within
the host rock typically quoted as grammes per tonne (g/t), parts
per million (ppm) or parts per billion (ppb).
“g/t” means grams per tonne.
“granodiorite” is an igneous intrusive rock
similar to granite.
“igneous” is a rock that has solidified from
molten material or magma.
“Intrusive” is a body of igneous rock that
invades older rocks.
“on-lode development” - Development that is
undertaken in and following the direction of the Vein
“mRL” – depth in metres measured relative
to a fixed point – in the case of Palito and Sao Chico this is
sea-level. The mine entrance at Palito is at 250mRL.
“saprolite” is a weathered or decomposed
clay‐rich rock.
“scrubber” – a machine for cleaning ore and
removing impurities such as clays, coatings or other deleterious
materials.
“stoping blocks” – a discrete area of
mineralised rock established for planning and scheduling purposes
that will be mined using one of the various stoping
methods.
“vein” is a generic term to describe an
occurrence of mineralised rock within an area of non-mineralised
rock.
Qualified Persons StatementThe
scientific and technical information contained within this
announcement has been reviewed and approved by Michael Hodgson, a
Director of the Company. Mr Hodgson is an Economic Geologist by
training with over 26 years' experience in the mining industry. He
holds a BSc (Hons) Geology, University of London, a MSc Mining
Geology, University of Leicester and is a Fellow of the Institute
of Materials, Minerals and Mining and a Chartered Engineer of the
Engineering Council of UK, recognising him as both a Qualified
Person for the purposes of Canadian National Instrument 43-101 and
by the AIM Guidance Note on Mining and Oil & Gas Companies
dated June 2009.
Forward Looking
StatementsCertain statements in this announcement are, or
may be deemed to be, forward looking statements. Forward looking
statements are identified by their use of terms and phrases such as
‘‘believe’’, ‘‘could’’, “should” ‘‘envisage’’, ‘‘estimate’’,
‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward looking statements are not based on
historical facts but rather on the Directors’ current expectations
and assumptions regarding the Company’s future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements reflect the Directors’ current beliefs
and assumptions and are based on information currently available to
the Directors. A number of factors could cause actual results to
differ materially from the results discussed in the forward looking
statements including risks associated with vulnerability to general
economic and business conditions, competition, environmental and
other regulatory changes, actions by governmental authorities, the
availability of capital markets, reliance on key personnel,
uninsured and underinsured losses and other factors, many of which
are beyond the control of the Company. Although any forward looking
statements contained in this announcement are based upon what the
Directors believe to be reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with such
forward looking statements.
ENDS
Str PD S & P 2001-19 (AMEX:SRB)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Str PD S & P 2001-19 (AMEX:SRB)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024