Business
Commissioning of new heli-borne VTEM survey
Commissioning of new heli-borne VTEM survey.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n\n\n\n\n SERABI MINING plc\n (\"Serabi\" or \"the Company\")\n\n New helicopter-borne geophysical VTEM survey commissioned for November 2010\n\n\n Serabi Mining , the AIM-traded gold exploration company, is pleased to advise\nthat the Company has entered into an agreement with Geotech Aerolevantamento to\ncarry out a new airborne geophysical electromagnetic (\"VTEM\") survey over two\nareas totaling 8,007 hectares within its Jardim do Ouro tenement holdings that\nsurround the Palito project (see map Areas-1 and 2).\n\nThe survey is scheduled to commence at the end of November and will be flown\nover a total of 1,170 line kilometres.\n\nMike Hodgson, Chief Executive, commented:\n\n\"The success of the last VTEM survey that Serabi undertook in January 2008\nyielded some excellent drill targets. This has led us to conclude that the use\nof helicopter-borne VTEM surveys represent the best geological tool for rapidly\nscreening large areas for occurrences of the sulphide mineralisation associated\nwith gold deposits in this area of the Tapajos. We have taken the opportunity\nto commission Geotech at this time to benefit from the cost savings associated\nwith reduced mobilisation charges as Geotech is currently undertaking similar\nactivity in reasonably close proximity to our property.\n\n\"The proposed new VTEM survey is over neighbouring contiguous concessions which\nhost a number of garimpo operations and will enable us to increase the area\nsurveyed from the existing 6,000 hectares to some 14,000 hectares; substantially\nincreasing the potential to identify new areas of gold mineralization similar to\nthat already established at Palito. We hope to repeat the target generation that\nwas yielded by the 2008 survey and expect that, allowing for the data to be\nproperly processed, we may have an initial interpretation towards the end of the\nfirst quarter of 2011\n\n\"Whilst we continue to focus our primary effort on building the resource base\nimmediately around Palito, we believe that it is vital that we extend our\nexploration effort and add value to the wider Jardim do Ouro tenement holdings\nthat the Company has in order to uncover the wider potential of the region. We\nare confident that this survey will generate additional targets for future\nevaluation\".\n\nSerabi's earlier survey over ...