Business
Exploration Release
Exploration Release.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n\n\n\n\n SERABI MINING plc (\"Serabi\" or \"the Company)\n Exploration results indicate growing resource potential across the\n Jardim do Ouro district\n\nSerabi Mining plc (SRB: AIM) announces further exploration success at\nthe Palito mine and adjacent Jardim do Ouro district.\n\n * Palito West - structural continuity extended from 80 metres to\n 200 metres, together with high-grade drill intersections.\n Geophysical tests along strike indicate this structure continues\n to the south-east and may become very significant in the future\n of the Palito operations.\n * Chico da Santa - new interpretation indicates expansion of the\n area of mineralization following successful geophysical survey\n and its close proximity to the existing Palito underground mining\n operation, potentially allowing the project to be incorporated\n into the production schedule earlier than expected; subsequent\n drill follow-up has resulted in positive results.\n * Ruari's Ridge - exploration adit commenced in August from the\n north-west limit of the payable mineralised zone to enable\n detailed investigation of mining potential.\n * Palito Main Zone - down-dip drilling continues to demonstrate\n good grades and depth continuity.\n * Fixed Loop Electromagnetic (\"FLEM\") geophysical surveys prove to\n be a key exploration tool at Palito. Following this success in\n highlighting potential new mineralisation, Serabi has contracted\n to fly a helicopter electromagnetic survey over the entire Jardim\n do Ouro district during Q4 2007; the benefit of this rapid\n assessment is expected to provide numerous drill ready targets by\n year-end.\n * New potential will be incorporated into a year-end resource\n review.\n\nSince April 2007, exploration activity around the Palito mine /\nJardim do Ouro concessions has been accelerated following a number of\nkey successes (see Exploration Update press release, dated June 4).\nThese have included excellent drill results at Palito West, the\ndiscovery and continued success at the Ruari's Ridge prospect and\nsuccessful FLEM geophysical surveys at Palito South, and most\nspectacularly at Chico da Santa.\n\nThe recent discoveries at the Ruari's Ridge and Chico da Santa\nprospects and extended success at Palito West will hopefully provide\nthe basis for near term production expansion. Detailed evaluation of\nthese sat...