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Matilda Copper Project - Exploration Update
Matilda Copper Project - Exploration Update.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n\n \n \n\n Matilda Copper Project - Exploration Update\n\nMatilda Copper Project - Exploration Update Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, is pleased to provide an exploration update from its activities on the Matilda Copper Project in the Tapajos region of Para State, Northern Brazil. The Matilda Copper Project is being developed as part of the Exploration Alliance between the Company and Vale SA. A full PDF version of this news release can be accessed using the following link - https://bit.ly/45Viw1Q Highlights Significant intercepts from the 2023 first phase drilling lie within a broad zone of pervasive Cu-Au mineralisation and include. Hole 23-MT-004 (partial results) – 59.45m @ 0.49% Cu and 0.13 ppm Au from 29.85m (including 6.93m @ 0.95% Cu and 0.28 ppm Au from 78m)Hole 23-MT-006 (full results) – 13.81m @ 0.47% Cu and 0.10 ppm Au from 200,95m 3,204 meters of diamond drilling have been completed in 9 holes at Matilda.The copper mineralisation and hosting rocks have many characteristics that typify alkalic porphyry deposits found in Australia and Canada.Reprocessing of data from the airborne geophysical survey completed in 2022 indicates that the positive drill results may lie within a 1.2 kilometre by 800 metre demagnetized structural zone. The zone remains untested both laterally and at depth.A further 3,200 metre Phase 2 drill programme commenced in August 2023 to test the geochemical / geophysical trend along strike, and secondary targets generated from the interpretation of the drilling to date.In addition, deep penetrating Induced Polarisation (“IP”) and Audio-Magnetotelluric (“AMT”) geophysical programmes have been designed to complement the drilling. The IP survey will begin in September 2023. Mike Hodgson CEO commented “We are very excited about these results and therefore the potential of Matilda. The new drilling results confirm the presence of good grades of copper mineralisation and opens new perspectives for the future of the Company. The results demonstrate that the Serabi tenement portfolio is located in a very fertile area of the Tapajós and the limited historic exploration activity provides a significant first mover advantage for the Company. “We are still in the process of understanding the copper sy...