The Prospector News

Multiple high grade intercepts into the ‘Chico da Santa’ veins at Palito

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Multiple high grade intercepts into the ‘Chico da Santa’ veins at Palito

 

 

 

 

 

Step-out exploration drilling programme records multiple high grade intercepts into the ‘Chico da Santa’ veins at Palito

 

Serabi Gold plc (AIM:SRB) (TSX:SBI), the Brazilian-focused gold mining and development company, is pleased to provide assay results from recent surface and underground exploration drillholes into the Chico da Santa sector, as well as the first results into the newly discovered Pele sector at the Palito Gold Mine, Para State, northern Brazil. This exploration programme is targeting strike and resource extension of the established Ipe and Mongo veins with results confirming extension along strike and at depth.

 

Highlights

  • On 11 May 2021 the Company disclosed the first results from step out exploration drilling into the Ipe and Mogno veins of the Chico da Santa sector, located in the eastern limits of the Palito deposit.
  • Over the past 3 months, this drilling programme has recommenced and remains ongoing. The programme has been extended to include the adjacent veins in the CDS sector, including the Jatoba vein to the west, and the neighbouring veins of the newly identified Pele sector to the east, namely Bebeto, Romario and Pele veins. Significant intersections from the underground drilling to date are as follows:
    • PUD0704 – 0.60m @ 7.84g/t Au (Mogno) from 291.00 metres to 291.60 metres
    • PUD0709 – 0.50m @ 22.56g/t Au (Ipe) from 39.30 metres to 39.80 metres
    • PUD0722 – 0.50m @ 8.43g/t Au (Mogno) from 52.50 metres to 53.00 metres
    • PUD0726 – 1.05m @ 68.09g/t Au (Ipe) from 41.25 metres to 42.30 metres
    • PUD0727 – 1.50m @ 76.09g/t Au (Ipe) from 61.70 metres to 63.20 metres
    • PUD0735 – 0.70m @ 7.39g/t Au (Ipe) from 41.90 metres to 63.20 metres
    • PUD0740 – 0.50m @ 12.64g/t Au (Bebeto) from 109.85 metres to 110.35 metres
    • PUD0748 – 0.50m @ 6.53g/t Au (Ipe) from 321.20 metres to 321.70 metres
    • PUD0686 – 2.75m @ 2.04g/t Au (Jatoba) from 137.70 metres to 140.45 metres
  • Significant intersections from the surface exploration drilling to date are as follows:
    • PDD0594 – 0.35m @ 4.39g/t Au (Bebeto) from 136.46 metres to 136.81 metres
    • PDD0594 – 0.36m @ 9.49g/t Au (Ipe) from 315.97 metres to 316.33 metres
    • PDD0607 – 1.40m @ 14.39g/t Au (Pele) from 106.40 metres to 107.80 metres
    • PDD0415 – 0.82m @ 24.70g/t Au (Jatoba) from 57.38 metres to 58.20 metres
    • PDD0558 – 2.00m @ 33.76g/t Au (Jatoba) from 76.75 metres to 78.75 metres

 

  1. PDD signifies a drill hole from surface, whilst PUD signifies a drill hole from underground

 

Mike Hodgson, CEO of Serabi, commented:

 

“There are some excellent intercepts in this latest batch of results. The established lodes, Ipe and Mogno, that are located within the CDS sector, were the cornerstone of the Palito Complex production during 2021. They are high grade lodes and made a significant contribution to the grade improvement of 28% seen in 2021 when compared to 2020. It is therefore exciting to see these intercepts which extend the veins well beyond the current mine limits, both along strike and at depth. The results suggest a possibility of improving grades and payability with depth, which bodes well for the future.

 

“The underground development of the Ipe/Mogno veins during 2021 also brought the opportunity to drill long exploration holes laterally. Some holes drilled to the west have intersected extensions of the Jatoba vein. Whilst the Jatoba structure was mined 3 years ago, there was, at that time, insufficient geological data to support further development. These new holes have cut the Jatoba vein well to the south of the original mine workings, with hole PDD0558 recording 33.76g/t Au over 2.0 metres, 400 metres south of the Jatoba mine workings, clearly suggesting great strike potential to add resources.

 

“Underground drilling to the east of Ipe/Mogno has resulted in identifying the Pele sector, another new area at Palito. The Pele sector hosts the veins Bebeto, Romario and the Pele vein itself and the early results again highlight this is a sector of excellent potential. This drilling is now being supplemented by surface exploration.

 

“Serabi will continue to push forward with its exploration campaign as we seek to drive resource growth and continue our track record of reserve replacement, together with our objective of increasing production towards our goal of becoming a 100,000 ounce per annum gold producer.”.”

 

RESULTS

 

The CDS sector is located in the eastern part of the Palito Deposit. The Ipe and Mogno veins have been worked top down from level 178mRL to current development levels -60mRL, with current production on levels -20mRL and -40mRL. The drill results reported in this press release comprise step out drilling, targeting strike extension of these veins principally to the south of the current mine limits, as well as holes drilled to depth, below the lowest level, -60mRL.

 

Figure 1 – Plan view of the Palito Deposit, with main sectors

 

To access a detailed image of the Plan view of the Palito Deposit please use the following link – https://bit.ly/3z5NYvg

 

Figure 2 – Long Section of the Ipe Vein

 

To access a detailed image of the Long Section of the Ipe Vein please use the following link – https://bit.ly/3n1MGg7

 

Figure 3 – Long Section of the Mogno Vein

 

To access a detailed image of the Long Section of the Mogno Vein please use the following link – https://bit.ly/3sEQdED

 

Figure 4 – Long Section of the Jatoba Vein

 

To access a detailed image of the Long Section of the Jatoba Vein please use the following link –https://bit.ly/32HQ2gW

 

This ongoing surface and underground exploration programme as well as targeting strike and depth extensions to the Ipe and Mogno veins, is also targeting newly discovered veins to the east of Ipe, namely Bebeto, Romario and Pele. In addition, some holes have also been drilled west into the Jatoba vein, a lode that has been mined previously, but has not been part of the mine plan in recent years.

 

Drilling into the Ipe vein has successfully recorded the following intercepts:

  • PUD0709 – 0.50m @ 22.56g/t Au (Ipe) from 39.30 metres to 39.80 metres
  • PUD0726 – 1.05m @ 68.09g/t Au (Ipe) from 41.25 metres to 42.30 metres
  • PUD0727 – 1.50m @ 76.09g/t Au (Ipe) from 61.70 metres to 63.20 metres
  • PUD0735 – 0.70m @ 7.39g/t Au (Ipe) from 41.90 metres to 63.20 metres
  • PUD0748 – 0.50m @ 6.53g/t Au (Ipe) from 321.20 metres to 321.70 metres
  • PDD0594 – 0.36m @ 9.49g/t Au (Ipe) from 315.97 metres to 316.33 metres

 

These intercepts, alongside intercepts published earlier in the year, now demonstrate depth extension of the Ipe vein to level -150mRL, some 90 metres below the lowest developed level -60mRL. The drilling also demonstrates strike extension of the Ipe vein 400 metres to the south.

 

Drilling into the Mogno vein includes:

  • PUD0704 – 0.60m @ 7.84g/t Au (Mogno) from 291.00 metres to 291.60 metres
  • PUD0722 – 0.50m @ 8.43g/t Au (Mogno) from 52.50 metres to 53.00 metres

 

The Mogno vein is a parallel vein to Ipe, just 50 metres to the east. These latest results alongside previous exploration holes, extend the Mogno vein to a depth of -150m RL, again, 90 metres below the current deepest level. Drillhole PUD0704 lies 200 metres south of the mine limits and suggests strike potential to the south.

 

The Jatoba vein lies to the west of the Ipe/Mogno veins, and was mined 3 years ago. Recent drilling alongside some historical holes, has recorded some excellent intersections including:

  • PUD0686 – 2.75m @ 2.04g/t Au (Jatoba) from 137.70 metres to 140.45 metres
  • PDD0415 – 0.82m @ 24.70g/t Au (Jatoba) from 57.38 metres to 58.20 metres
  • PDD0558 – 2.00m @ 33.76g/t Au (Jatoba) from 76.75 metres to 78.75 metres

 

The Pele sector, lies approximately 200 metres to the east of Mogno and has never been developed. Historical surface holes intersected numerous high grade veins and with the underground development of the Mogno vein, this has brought the opportunity to follow up these historical drill intersections with underground exploration drilling, which has also been complemented with some surface exploration holes.

 

The results to date include:

  • PUD0719 – 0.50m @ 0.53g/t Au (Pele) from 308.60 metres to 309.10 metres
  • PUD0723 – 0.50m @ 1.16g/t Au (Bebeto) from 122.50 metres to 123.00 metres
  • PUD0723 – 0.50m @ 0.63g/t Au (Romario) from 142.00 metres to 142.50 metres
  • PUD0733 – 0.50m @ 1.32g/t Au (Bebeto) from 84.30 metres to 84.80 metres
  • PUD0740 – 0.50m @ 12.64g/t Au (Bebeto) from 109.85 metres to 110.35 metres
  • PUD0748 – 0.50m @ 6.53g/t Au (Pele) from 321.20 metres to 321.70 metres
  • PDD0594 – 0.35m @ 4.39g/t Au (Bebeto) from 136.46 metres to 136.81 metres
  • PDD0606 – 0.60m @ 2.68g/t Au (Pele) from 52.40 metres to 53.00 metres
  • PDD0607 – 1.40m @ 14.39g/t Au (Pele) from 106.40 metres to 107.80 metres

 

Drilling is continuing, and if justified by the results, a development crosscut from the Mogno vein will commence in 2022.

 

The results of new and historical holes newly sampled and assayed and not previously disclosed are tabulated below:

 

Hole Target East West RL Depth (m) Dip/Azm From To Apparent Width (m) Gold Grade
(UTM- SAD69) (UTM- SAD69) (°/°UTM) (Au g/t)
PALITO UNDERGROUND DD DRILLING
PUD0638 PELE 634306.69 9301739.24 60.38 284.78 0.3/53 236.70 238.85 2.15 2.89
PUD0640 PELE 634114.62 9301599.13 63.00 301.72 2.9/39.35 244.31 245.01 0.70 1.03
PUD0704 MOGNO 634151.00 9301139.00 19.00 322.96 -20/45 291.00 291.60 0.60 7.84
PUD0706 MOGNO 634273.00 9301387.00 -10.00 80.50 -30/223 29.40 29.90 0.50 2.30
PUD0707 IPE 634151.00 9301139.00 19.00 380.23 -26/57 350.60 351.20 0.60 0.67
PUD0709 IPE 634289.05 9301385.12 -8.07 68.50 -2/85 39.30 39.80 0.50 22.76
PUD0715 MOGNO 634231.90 9301432.76 36.03 80.50 -2/221 44.80 45.70 0.90 2.20
PUD0719 PELE 634170.24 9301482.81 123.00 343.00 -14/57 308.60 309.10 0.50 0.53
PUD0721 IPE 634205.43 9301463.73 35.48 80.50 -2/41 0.10 0.60 0.50 0.68
PUD0722 MOGNO 634204.00 9301461.00 35.50 80.00 -2/221 52.50 54.50 2.00 2.57
            incl. 52.50 53.00 0.50 8.43
PUD0723 BEBETO 634172.66 9301477.16 124.02 413.61 -15/75 122.50 123.00 0.50 1.16
  ROMARIO           142.00 142.50 0.50 0.63
PUD0725 IPE 634070.75 9301582.73 -30.00 78.50 -45/42 35.65 36.15 0.50 0.67
PUD0726 IPE 634084.95 9301571.91 -30.00 77.50 -45/55 41.25 42.30 1.05 68.09
PUD0727 IPE 634085.17 9301571.70 -30.00 77.50 -40/87 61.70 63.20 1.50 76.09
            incl. 62.20 63.20 1.00 113.05
PUD0733 BEBETO 634103.74 9301602.62 -10.54 350.25 -8/43 84.30 84.80 0.50 1.32
PUD0734 IPE 634090.17 9301571.37 -50.00 77.87 -42/80 52.70 53.50 0.80 2.23
PUD0735 IPE 634090.17 9301571.37 -50.00 80.50 -40/2 41.90 43.30 1.40 4.25
            incl. 41.90 42.60 0.70 7.39
PUD0740 BEBETO 634103.74 9301602.62 -10.54 395.63 -36/35 109.85 110.35 0.50 12.64
  PELE           348.30 348.80 0.50 0.66
PUD0743 ROMARIO 634103.74 9301602.62 -10.54 382.48 -34/55 122.70 123.60 0.90 1.43
PUD0748 BEBETO 634103.74 9301602.62 -10.54 382.88 -31/20 113.80 114.40 0.60 1.71
  ROMARIO           128.90 129.40 0.50 1.13
  PELE           321.20 321.70 0.50 6.53
PUD0686 JATOBA 634009.17 9301485.35 -13.54 251.73 -39/237 137.70 140.45 2.75 2.04
            incl. 137.70 138.70 1.00 4.22
PUD0693 JATOBA 634009.17 9301485.35 -13.54 273.40 -32/176 147.85 148.55 0.70 0.57
PUD0697 JATOBA 634009.17 9301485.35 -13.54 250.53 -34/255 133.70 134.20 0.50 1.16
PUD0699 JATOBA 634151.00 9301139.00 19.00 328.87 -8/22 101.59 102.10 0.51 0.91
                     
                     
PALITO SURFACE DD DRILLING
PDD0584 IPE 634457.58 9301060.59 231.30 280.65 -50/53 229.15 229.75 0.60 1.07
PDD0592 ROMARIO 634448.00 9301496.00 230.00 340.39 -49/225 49.29 50.00 0.71 1.84
  IPE           263.20 264.61 1.41 0.80
PDD0594 BEBETO 634636.51 9301350.38 220.76 377.84 -50/223 136.46 136.81 0.35 4.39
  IPE           315.97 316.33 0.36 9.49
PDD0597 G3 634689.11 9300750.42 202.76 180.99 -58/220 63.44 64.34 0.90 0.64
PDD0602 G3 634855.36 9300649.65 204.37 300.29 -53/219 112.00 112.35 0.35 1.43
PDD0606 PELE 634241.73 9301806.13 211.18 150.35 -53/239 52.40 53.00 0.60 2.68
PDD0607   634275.00 9301835.00 205.00 155.01 -51/243 12.95 13.50 0.55 9.75
  PELE           106.40 107.80 1.40 14.39
            incl. 106.40 107.00 0.60 24.96
              121.00 121.40 0.40 1.04
PDD0415 JATOBA 634097.35 9301328.60 264.25 250.25 -49/211 57.38 58.20 0.82 24.70
PDD0416 JATOBA 634097.60 9301329.20 264.31 321.60 -61/209 68.83 70.50 1.67 1.23
PDD0421 JATOBA 634113.86 9301276.32 260.61 299.45 -59/210 14.35 17.00 2.65 1.74
PDD0428 JATOBA 634016.05 9301424.58 251.82 284.25 -50/208 101.28 101.89 0.61 1.64
PDD0533 JATOBA 634560.37 9301040.81 219.42 400.01 -61/209 179.15 179.95 0.80 1.86
PDD0534 JATOBA 634661.48 9301003.32 215.26 409.07 -57/212 199.25 199.95 0.70 1.46
PDD0558 JATOBA 634529.88 9300983.07 204.85 383.65 -65/191 76.75 78.75 2.00 33.76
            incl. 77.70 78.75 1.00 64.63
PDD0593 JATOBA 634817.18 9300899.41 204.18 274.11 -58/221 230.17 230.47 0.30 1.84
PDD0595 JATOBA 634740.45 9300817.06 202.52 230.13 -59/218 106.00 107.00 1.00 2.49
Reported intercepts calculated based on a minimum weighted average grade of 0.5g/t Au using a 0.5g/t Au weighted average lower cut and a maximum internal waste interval of 1.2m based on ALS and Serabi´s on-site lab reported analyses. Some of the assay results reported above include those provided by the Company’s own on-site laboratory facilities at Palito and have not been independently verified. Serabi closely monitors the performance of its own facility against results from independent laboratory analysis for quality control purpose. As a matter of normal practice, the Company sends duplicate samples derived from a variety of the Company’s activities to accredited laboratory facilities for independent verification. Since mid-2019, over 10,000 exploration drill core samples have been assayed at both the Palito laboratory and certified external laboratory, in most cases the ALS laboratory in Belo Horizonte, Brazil. When comparing significant assays with grades exceeding 1 g/t gold, comparison between Palito versus external results record an average over-estimation by the Palito laboratory of 6.7% over this period. Based on the results of this work, the Company’s management are satisfied that the Company’s own facility shows sufficiently good correlation with independent laboratory facilities for exploration drill samples. The Company would expect that in the preparation of any future independent Reserve/Resource statement undertaken in compliance with a recognised standard, the independent authors of such a statement would not use Palito assay results without sufficient duplicates from an appropriately certificated laboratory.

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.

 

The person who arranged for the release of this announcement on behalf of the Company was Clive Line, Director.

 

Posted January 5, 2022

Share this news article

MORE or "UNCATEGORIZED"


Omai Intersects Gold in Broccoli Hill Trenches and Drill Holes

Omai Gold Mines Corp. (TSX-V:OMG) is pleased to announce explorat... READ MORE

January 19, 2022

Monument Announces Burnakura Phase 1 Assay Results Including High-Grade Gold at Junction Target

Monument Mining Limited (TSX-V: MMY) (FSE: D7Q1) is pleased to an... READ MORE

January 19, 2022

Doré Copper Intersects 3.7 Meters at 9.41% Copper, 2.84 g/t Gold and 36.5 g/t Silver at Corner Bay – Continues to Expand Deposit

Doré Copper Mining Corp. (TSX-V: DCMC) (OTCQX: DRCMF) (FRA: DCM) is ple... READ MORE

January 19, 2022

Golden Tag Drills 272 g/t Ag.Eq over 7.8 m & 100 g/t Over 322.9 m Extending Endoskarn Zone 50 m SW

Golden Tag Resources Ltd. (TSX-V: GOG) (OTCQB: GTAGF) is pleased to anno... READ MORE

January 19, 2022

Barrick Delivers on Production Targets for the Third Consecutive Year

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced prelimin... READ MORE

January 19, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News