Business
Drilling Report
Drilling Report.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Mining plc\n01 February 2006\n\nSERABI MINING PLC: DRILLING AND EXPLORATION UPDATE 2005\n\nImportant new discoveries made adjacent to the Palito mining operation during\n2005, while other drill results continue to confirm the potential for expansion\nof the Palito Main Zone\n\nLONDON: Serabi Mining plc ('Serabi' or the 'Company') reports assay and\nexploration results from its ongoing drill programmes being carried out at the\n100% owned Palito Gold Mine and the Jardim do Ouro District, located in the\nTapajos geological region of northern Brazil. Using the company's own drilling\nequipment and crews, Serabi completed a total of 18,235 metres of diamond\ndrilling from 138 boreholes during 2005, significantly in excess of the\ncompany's target of 12,000 metres of drilling for the year.\n\nHighlights of the results from the 2005 drilling campaign include:\n\n - Confirmation of the potential to improve the quality and expand gold \n resources at the Palito Main Zone ('PMZ') at depth and along strike\n\n - Exceptional intersections northwest of the Palito Hill indicate high-\n grade gold mineralisation in this direction, up to 200 metres beyond\n current mine workings\n\n - Very high-grade intersections at the newly discovered Compressor Lode \n provide important near-term mining opportuntity\n\n - Continuation at depth of high-grade mineralisation at the Palito West \n prospect\n\n - Discovery of new area of gold mineralisation at the Bill's Pipe\n prospect, located within the Jardim do Ouro District nearby the Palito\n mine\n\nTable 1: Drilling progress summary\n\n\n Area Drillholes (1) Metres\n To December 31 Palito Main Zone Resource (2) 74 9,892\n 2004 Chico do Santo 7 993\n Palito West 5 560\n Other 8 1,679\n SUB TOTAL 94 13,124\n From January to PMZ - Infill (Central Zone) 27 4,239\n August 2005 PMZ - Strike Extensions 12 1,896\n PMZ - Depth Extensions 19 3,028\n Compressor Lode 4 982\n Sterilisation 4 552\n SUB TOTAL 66 10,697\nFrom September to PMZ - Infill (Central Zone) 18 1,728\n December 2005 PMZ - Infill (North Zone) 15 1,038\n PMZ - Strike Extensions 3 527\n PMZ - Depth Extensions 7 1,652\n Compressor Lode 21 1,904\n Palito West 4 172\n Bill's Pipe 4 517\n SUB TOTAL 72 7,538\n GRAND TOTAL 232 31,359\n\n(1) Average dip is between 45 degrees and 50 degrees\n\n(2) Used for CPR resource calculation & include...