Business
Coringa Development Update
Coringa Development Update.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n \n Coringa Development Update\n \n \n \n \n For immediate release\n \n \n 2\n 2 \n June\n 202\n 2\n \n \n Serabi\n Gold plc\n (“\n Serabi\n ” or the “Company”)\n \n \n Coringa Development Update\n \n Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, is pleased to report further positive results from its Coringa development project in the Tapajos region of Para State, Northern Brazil.\n \n A PDF version of this announcement, including all images, can be accessed using the following link\n -\n https://bit.ly/3xGWpwB\n \n \n Highlights\n \n \n Initial ore sorting test work confirms amenability to ore sorting of Coringa ore with a greater than three times improvement in grade\n Metallurgical recovery of 96.0% achieved from processing Coringa bulk sample through the Palito processing plant\n Underground development continues to generate high grade ore at Coringa with over 200 metres of on-lode development completed. Selected channel sample results include:0.65 metres @ 99.26g/t Au (SRR-320-042 - development 320_V3S)0.42 metres @ 116.18g/t Au (SRR-320-044 - development 320_V3S)0.17 metres @ 302.36g/t Au (SRR-340-031 - development 340_V3N)0.55 metres @ 46.53g/t Au (SRR-320-050 - development 320_V3S)0.52 metres @ 55.57g/t Au (SRR-340-039 - development 340_V3S)0.22 metres @ 123.62g/t Au (SRR-320-052 - development 320_V3S)0.32 metres @ 133.92g/t Au (SRR-340-042 - development 340_V3S)0.50 metres @ 68.59g/t Au (SRR-320-056 – development 320_V3S)\n \n \n Mike Hodgson CEO said\n \n \n “The results from Coringa continue to be excellent and it is particularly pleasing to demonstrate that ore sorting works so well and in addition to achieve an impressive metallurgical recovery of 96%. While these processing results are in line with our expectations based on the significant metallurgical test work that has been completed, achieving gold recovery of 96% on a bulk sample through our full-scale processing facility is a major step in further de-risking Coringa. The ability to sort the Coringa ore also brings significant economic benefits, reducing the waste material passing through the plant and therefore processing cost and the volume of tailings generated. \n \n \n “Underground mine development is continuing, with over 200 metres of on-lode development now completed. This is enhancing our understan...