Drilling Demonstrates Further Growth Potential
Brazilian-focused gold mining and development company Serabi Gold plc (AIM:SRB, TSX:SBI) has further demonstrated the potential of extensions to the main mineralised corridor on the Julia lode at the Sao Chico project.
CEO, Mike Hodgson, said ongoing brownfields diamond drilling at the Sao Chico project has confirmed the existence of a series of parallel mineralised structures that should be accessible using existing mine infrastructure.
Highlights
- Surface drilling on the Julia Vein (Zone 3) intersected significant shallow mineralisation including 4.30m @ 8.52g/t Au (including 0.80m @ 31.08g/t), 2.55m @ 14.29g/t Au (including 0.50m @ 66.70g/t Au) and 0.8m @ 11.85g/t Au to 100m below surface.
- Drilling on the Julia Vein (Zone 4) intersected 0.6m @ 3.46g/t Au indicating shallow mineralisation continues from Zone 3 into Zone 4, a western extension of the shallow mineralisation across a dacite dyke intrusion.
- Julia Vein underground drilling intersected 3.3m @ 12.02g/t indicating a potential deeper mineralised shoot developing below 200m vertical depth on Julia Zone 3.
- Remodelling and interpretation of historic data has identified a parallel structure approximately 70m to the south of the Main Vein, containing several small, but very high-grade shoots. Named “Gabi”, recent underground drilling to confirm this vein target returned results including 0.55m @ 18.24g/t Au.
- Drill testing of an induced polarisation geophysical anomaly 100m north of the Main Vein and adjacent to the decline ramp intersected 1.95m @ 3.63g/t Au including 0.70m @ 8.88g/t Au on the Lagoa Intermediate target.
CEO, Mike Hodgson, CEO of Serabi, commented:
“These recent drill results on the Julia Vein to the west of the mine, and the previously overlooked historical drilling into the Gabi Vein, to the south of the mine are very encouraging,” Mr Hodgson said.
“These are satellites that are close to surface, therefore are easy to develop and require minimal capital development to access them.
“Our initial understanding of the Julia Vein was that the mineralisation had been truncated to the west by dacitic intrusions, and the vein was limited to what we called zones 1 and 2. We have now drilled to the west of this area and found the continuation of the intrusive structures, with good vein widths and grades.
“All these intersections lie in the zone 3 block, immediately west of the current mine limit. Zone 3 is itself bounded to the west by another dacite dyke, but we have now intersected the further continuation of Julia west of this dyke and with further drilling hope to see a repetition of zone 3 in zone 4. As can be seen from the long section (Figure2), we are now focussing on drilling the upper levels of zone 4 from surface, and hope for further positive results.
“Recent drilling has also led us to review some historic Sao Chico drilling results and core with encouraging results, notably the identification of the Gabi Vein. Located 70 metres south of the Main Vein it was intersected with early Sao Chico drillholes that were targeting the Main Vein.
“As is often the case, the Gabi structure, being narrower and not the primary target, was overlooked at the time. Re-interpretation and a good deal of re-logging and sampling is building a very interesting and encouraging prospect that justifies further development of the Gabi Vein.”
For further information please visit: https://www.serabigold.com/
