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Exploration Update - New IP geophysical survey ...
Exploration Update - New IP geophysical survey ....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n\n\n\n\n SERABI MINING plc\n (\"Serabi\" or \"the Company\")\n\n Exploration Update\n\n New IP geophysical survey underway at Jardim do Ouro\nSerabi Mining plc (AIM:SRB, TSX:SBI and SBI.WT), the Brazilian focused gold\nexploration Company, is pleased to provide an update on the Jardim do Ouro\nproject exploration activities.\n\nA ground based geophysical survey comprised of over 70km of Induced Polarisation\n(IP) began on 1 August The surveyed areas as set out in the diagram cover the\nremaining priority anomalies from the initial airborne geophysical survey\nundertaken by the company in 2008, the Jamanxim and Calico prospects, being two\nnew areas identified from the additional airborne survey undertaken earlier in\n2011 and an area between the Currutela prospect and the Palito mine where the\nCompany has had recent drilling success. Whilst it was originally envisaged to\nundertake IP over the remaining priority targets from the 2008 airborne survey\nthe Company has in the light of its drilling success extended the survey and in\nparticular to encompass the \"Espeto\" prospect following the success of drill-\nhole PDD470 as reported on 15 July 2011.\n\nThe positive drilling results at the Currutela prospect, along with re-\nprocessing of aeromagnetic data, indicated the potential for structural\ncontinuity between Currutela and the existing Palito gold resource extending\nover some 1.6km. The potential for structural and mineralized continuity was\nenhanced by the intersection in PDD470 of multiple zones of hydrothermally\naltered granite, similar to previously reported intercepts at Palito and\nCurrutela. PDD 470 is the first drill hole into the Espeto target which lies\nalong strike to the southwest of Palito approximately midway between Currutela\nand Palito.\n\nMike Hodgson commented: \"Serabi places a high level of importance in Induced\nPolarisation (IP) surveying, for helping define valid drill targets in the\nJardim do Ouro (JDO) project area, and maximising our confidence in the\npotential of geophysical anomalies before drilling. Whilst we are very\nencouraged by the single hole that we have drilled into the Espeto target, it\nmakes sense to complement our existing geological and geophysical understanding\nwith additional IP before embarking on further drilling. We have deployed...