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Palito Brownfield Exploration Update
Palito Brownfield Exploration Update.
About this update from Serabi Gold Plc
[{"type":"text","content":"\n\n \n \n\n Palito Brownfield Exploration Update\n\nPalito Brownfield 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 Palito Mine in the Tapajos region of Para State, Northern Brazil. A PDF version of this release including all images is available using the following link - https://bit.ly/3J0VT2Z Highlights Underground drilling into the G3 Vein has demonstrated continuity of strong mineralisation below the current mined areas with intercepts including: 1.30 metres @ 44.75g/t Au from 337.85 metres (PDD0557)0.55 metres @ 45.20g/t Au from 190.60 metres (PDD0590)0.90 metres @ 23.33g/t Au from 286.30 metres (PUD0786)0.75 metres @ 24.92g/t Au from 230.00 metres (PUD0825)0.50 metres @ 32.11g/t Au from 238.10 metres (PUD0827) G3 has historically been a significant contributor to Palito’s production with approximately 65,000 ounces mined from surface to a vertical depth of approximately 300m and over approximately 800m of strike. The current drilling campaign is focused on testing a panel of potential mineralisation of approximately 300m by 600m that represents an extension of G3 to the northwest and down dip. Drilling planned for 2024 will test an additional southerly extension panel of approximately 500m by 500m.Good progress is being made with the Independent Mineral Reserve and Resource Estimate although it has been decided to include the current round of G3 drilling which will cause a delay in the completion of the estimate into the third quarter. Mike Hodgson CEO said “Underground drilling at the Palito Mine continues to deliver excellent results. The G3 Vein was a major source of gold production for much of Palito’s earlier mine life with the benefit of also being one of the widest orebodies. With the deepening of other sectors within the mine, and particularly Palito West and Chico da Santa which are the sectors either side of the Palito Main Zone within which G3 occurs, drilling out the deeper portions of G3 is now becoming possible. “In 2023 we plan to complete the drilling of the northwest extension of the G3 Vein, an area of approximately 300m of vertical extent and approximately 600m of strike. We also expect to be in a position to drill out the southeast extension of G3 in 2024, a panel with a vertical ext...