Business
Excellent Third Quarter production and Coringa ...
Excellent Third Quarter production and Coringa ....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n \n Excellent Third Quarter production and Coringa progress on track\n \n \n \n \n For immediate release\n \n \n 13\n October\n 2021\n \n \n Serabi Gold plc\n (“Serabi” or the “Company”)\n \n \n Excellent Third Quarter production and Coringa \n p\n rogress\n on track\n \n Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, is pleased to provide the results and a review of its 2021 third quarter operational, development and exploration activities. \n \n A PDF version of this announcement, including all images, can be accessed using the following link\n https://bit.\n l\n y/3aw6zoF\n \n \n OPERATIONAL \n HIGHLIGHTS\n \n \n Palito Operations\n \n \n Third quarter gold production of 9,082 ounces, a 34 per cent improvement compared to the same period of 2020 (Q3 2020: 6,790 ounces). Gold production for the year to date (“ytd”) is 26,510 ounces, in line with guidance (2020 ytd: 24,314 ounces).\n Total ore mined during the quarter of 42,240 tonnes at 7.18 grammes per tonne (“g/t”) of gold (Q3 2020; 44,097 tonnes at 4.84 g/t), the highest quarterly mined grade since the first quarter of 2019 and a 28 per cent improvement in grade compared to the average for 2020.\n 41,995 tonnes of run of mine (“ROM”) ore were processed through the plant from the combined Palito and São Chico orebodies, with an average grade of 7.20 g/t of gold (Q3 2020: 46,135 tonnes at 4.75 g/t), a 28 per cent improvement on the average plant grade for 2020.\n 2,842 metres of horizontal development completed during the quarter, bringing the year-to-date total to 9,376 metres.\n \n \n Coringa Project\n \n \n Initial mine development commenced at Coringa setting Serabi on its path to achieve mid-term objective of becoming a 100,000 ounce per annum gold producer.\n The development of the mine portal began in late July, with the objective to reach the Serra ore zone during the fourth quarter, one of three main zones at Coringa. Blasting into hard rock is now well underway.\n 400 metres of ore development is planned to further support the geological resource which to date is based on drillholes and surface artisanal mining\n \n \n Exposure of the orebody through development could identify potential mining and processing improvements for the project and future operation: The project economics are currently based on ...