Business
Cerrado Gold Commences Drilling at Its Michelle Exploration Target in Argentina
Michelle target favorably located between AngloGold Ashanti's prolific Cerro Vanguardia Mine...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Commences Drilling at Its Michelle Exploration Target in ArgentinaMichelle target favorably located between AngloGold Ashanti's prolific Cerro Vanguardia Mine and E2 Metals' recent bonanza grade discoveriesProgram targeting high grade silver-gold ore shoots hosted along +30 km of strike length of known low sulphidation epithermal veinsToronto, Ontario--(Newsfile Corp. - May 10, 2022) - Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF) (\"Cerrado\" or the \"Company\") is pleased to announce that it has commenced Phase I drilling at its Michelle Property (\"Michelle\") located 90 kilometers (\"km\") from its Minera Don Nicolas Mine in Santa Cruz Province, Argentina (\"MDN\"). Michelle Property Highlights37,400 hectares (\"ha\") of exploration permits located between and adjacent to AngloGold Ashanti's prolific Cerro Vanguardia Mine (+8.5Moz gold, +85Moz silver)1 and recent bonanza grade discoveries made by E2 Metals Limited (\"E2\") less than 50 meters (\"m\") from Michelle's border. Over 30 km of veins mapped on surface and additional potential for continuity under thin basaltic cover.Recent nearby discoveries by E2 & Fredonia Mining Inc. (\"Fredonia\") to the south, suggest the potential for high grade Silver-Gold ore shoots on the Michelle property. Regional drill results include:Mia (E2)2: 31 m at 27 grams per tonne (\"g/t\") gold (\"Au\") and 160 g/t silver (\"Ag\") from 53 m; including 18m at 47 g/t gold and 208 g/t silver from 66 m; andincluding 1m at 424 g/t gold and 1,489 g/t silver from 68 m.Malvina (E2)2: 14m at 8.7g/t Au and 2,541 g/t Ag from 67 m.Monserrat (Fredonia)3: 34 m at 1.15 g/t Au and 50 g/t Ag from 32 m. Figure 1 below highlights the location of Michelle relative to regional vein fields discoveries.Data Source:1.Historical reported production of 5.6Moz Au and 13.0Moz Ag, source: S&P Global Inc. and current 43-101 resources inclusive of reserves of 2.9Moz Au and 75.5Moz Ag, source: AngloGold Ashanti's MINERAL RESOURCE AND ORE RESERVE REPORT AS AT 31 DECEMBER 2021.2. https://e2metals.com.au/3. https://www.fredoniamanagement.com/el-dorado-monserrat Figure 1. District endowment and regional discoveries To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/7487/123387_ca59c9e5343409e5_002full.jpgMark Brennan, CEO and Co-Chairman, commented, \"Given th...