Step out drilling at Sao Chico extends resource beyond current mine limits - Global Mining Review

Serabi Gold plc, a Brazilian-focused gold mining and development company, has announcedthe results from its ongoing surface and underground exploration diamond drilling programme being undertaken on the Sao Chico orebody at its Palito Complex in Brazil.

Highlights

• A 9600 m ‘step out’ surface diamond drill programme commenced in early 4Q19 to test the east and west continuity of the Sao Chico orebody. In addition, an underground drilling services contractor is undertaking an 8000 m underground drilling programme to test the depth continuity.
• The drilling completed to date indicates payable strike continuity of mineralisation for 200 m to both the east and west of current mining limits.
• Key intercepts to the west include intersections grading 21.03 g/t and 15.39 g/t (holes 19-SCUD-219 and 248 respectively).
• Key intercepts to the east include intersections of 16.61 g/t and 27.35 g/t (holes 19-SC-143 and 142 respectively).
• Underground drilling also confirms extension of current Sao Chico ore-body for a further 100 metres below the lowest level of current development, level -48 m RL, which is itself some 250 vertical metres below surface.
• Key intercepts at depth include intersections of 34.42 g/t and 114.49 g/t from holes 19-SCUD-284 and 19-SCUD-274 respectively.
• Drilling has also commenced on the geophysical anomalies that lie immediately to the west of the Sao Chico orebody. A 6000 m reverse circulation drilling programme began in early December 2019 to test the anomalies previously announced by the company in November the same year.

Mike Hodgson, CEO of Serabi, commented: “We are embarking on an aggressive surface and underground drilling programme mostly focusing in and around the Sao Chico orebody to assess its long-term potential.

“We have always seen the strong potential in and around Sao Chico and exploration success here is key to our next expansion plans should they be justified. These early drill results immediately extending the resource beyond the current mining limits have returned some excellent intersections over minable widths in all directions. Our initial plan is to drill over an area, beyond the current mine workings, of up to 300 m to the east, 500 m to the west, and approximately 250 m at depth.

“The company has completed approximately 20% of the planned programmes, which are expected to be concluded by the end of June. Our objective is that the drill programme will provide enough new information to allow us to commission the preparation of an updated geological resource and mineral reserve for the Sao Chico orebody during 3Q20.

Read the article online at: https://www.globalminingreview.com/mining/06012020/step-out-drilling-at-sao-chico-extends-resource-beyond-current-mine-limits/

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https://www.globalminingreview.com/mining/06012020/step-out-drilling-at-sao-chico-extends-resource-beyond-current-mine-limits/

2020-01-06 10:03:41Z
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