Business
Corporate Update
Corporate Update.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n \n Corporate Update\n \n \n \n \n For immediate release\n \n \n 12 May \n 202\n 2\n \n \n Serabi\n Gold plc\n (“\n Serabi\n ” or the “Company”)\n \n \n Corporate Update\n \n Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, is pleased to provide an update on its production at the Palito Complex, development on its wholly owned Coringa project and initial drilling at the Matilda prospect 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 \n https://bit\n \n \n .\n \n \n ly/39fkzG8\n \n \n \n Highlights\n \n \n Production from the Palito Complex showed a continued improvement with 2,919 ounces of gold produced for April, the highest monthly level so far in 2022\n Coringa underground on-lode development extended for a total of over 60 metres and continues to deliver better than anticipated grades with channel samples returning:0.34 metres @ 70.06 g/t Au (SRR-340-015 - development 340_V3S)0.40 metres @ 29.50g/t Au (SRR-340-017 - development 340_V3S)0.27 metres @ 263.83g/t Au (SRR-340-019 - development 340_V3S)0.40 metres @ 39.44g/t Au (SRR-340-022 - development 340_V3S)0.22 metres @ 153.48g/t Au (SRR-340-025 - development 340_V3N)0.41 metres @ 68.25g/t Au (SRR-340-026 - development 340_V3S)0.24 metres @ 87.95g/t Au (SRR-340-027 - development 340_V3N)0.51 metres @ 49.36g/t Au (SRR-320-033 – development 320_V3S)0.57 metres @ 37.92g/t Au (SRR-320-035 - development 320_V3S)0.25 metres @ 42.25g/t Au (SRR-340-021 - development 340_V3N)0.47 metres @ 61.02g/t Au (SRR-320-037 - development 320_V3S)\n Initial bulk sample generated from Coringa development project of 894 tonnes at 8.25 g/t including a high grade stockpile of 366 tonnes at 17.76g/t\n Three drill holes completed on Matilda prospect all hitting porphyry-style mineralisation. Significant sulphide logged with assays pending\n \n \n Mike Hodgson CEO said\n \n \n “It is very pleasing and a testament to the hard work of the team at the Palito Complex that we have managed to produce 2,919 ounces in April. As investors will recall we experienced production challenges in the first quarter on the Julia Vein at Sao Chico, and this resulted in us moving away from sublevel long-hole mining method, for the more selective, albeit sl...