Business
Coringa Project Update
Coringa Project Update.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n \n Coringa Project Update\n \n \n \n \n For immediate release\n \n \n 2\n 2\n March\n 2023\n \n \n Serabi Gold Plc (“Serabi” or the “Company”)Coringa Project Update\n \n Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, \n is pleased to provide an update on progress at its Coringa project\n (“the Project”)\n located in the Tapajos region of Para, Brazil.\n \n \n Highlights\n \n \n Imminent completion and submission of the Indigenous Impact Study (“ECI”) to FUNAI, a key outstanding component for the award of the Installation Licence (“LI”) by SEMAS\n Serabi plans to install a crusher and ore-sorter at Coringa (a “classification plant”) as an interim step ahead of a full processing plant at a later date\n The Coringa ore is highly amenable to ore-sorting, and the classification plant will significantly reduce the amount of initial capital expenditure required to achieve consolidated group production of approximately 60,000 ounces per annum without the requirement for plant expansion at Palito and with gold production and tailings consolidated at a single site\n \n \n Michael Hodgson, CEO of Serabi commented,\n \n \n “We have been continuing to make steady progress at Coringa both with our production activities and the advancement of the licencing process and this update provides a summary of the activities over the past six months and our \n plans\n going forward. I am pleased to advise the imminent c\n ompletion\n of the Indigenous Impact Study that we initially commissioned at the beginning of 2022. Whilst progress has been slower than we were originally led to believe, the final report \n is expected to\n be available to be presented to the authorities for their review in the next few weeks. This \n report should allow the authorities to move forward with the final analysis\n culminating in\n approval of our application for an Installation Licence (“LI”)\n , which in turn\n allow\n s\n us to install a full process plant at Coringa\n in due course\n .\n \n \n “As previously \n advised,\n we produced 1,103 ounces from Coringa during the period July 2022 to December\n 2022\n by trucking high grade or\n e\n from Coringa to our Palito operation for processing. We are continuing this activity during 2023. Ore sorting test work on the Coringa ore has produced excellent results wi...