Business
Second quarter update on gold operations at Pal...
Second quarter update on gold operations at Pal....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Second quarter update on gold operations at Palito and Sao ChicoFor immediate release 18 July 2016Serabi Gold plc(\"Serabi\" or the \"Company\")Second quarter update on gold operations at Palito and Sao ChicoSerabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, provides an operational update for the second quarter of 2016 on its wholly owned Palito and Sao Chico gold operations in the Tapajos region of Para State, Northern Brazil. HIGHLIGHTS9,896 ounces of gold produced for the second quarter of 2016 (Q1 2016 - 9,771 ounces). Mine production totalled 33,606 tonnes. 25,198 tonnes at a grade of 10.48 grammes per tonne (g/t) of gold from Palito. 8,408 tonnes at 6.81 g/t of gold from Sao Chico. 39,402 tonnes of ore processed through the plant for the combined mining operations.2,940 metres of horizontal mine development completed in the quarter with 1,910 metres completed at Palito and 1,031 metres at Sao Chico. Installation of the third ball mill was completed during the quarter, with a second flotation line and enhancements in the carbon in pulp (\"CIP\") plant close to completion. The carbon regeneration kiln acquired earlier in the year is now being installed and will be commissioned during the current quarter. The kiln will regenerate 'fouled' carbon and enhance gold recoveries. Daily plant throughput can now be increased from 380-400 tonnes per day (tpd) to over 500 tpd, which is in excess of mined production allowing surface stocks to be depleted in the second half of the year. Sao Chico is now being developed on the 156mRL, 140mRL, 128mRL and 116mRL levels, with production ore being mined from the 156mRL level. The ramp continues to be deepened from levels 116mRL to 100mRL, the next planned development level. During the second quarter, underground exploration drilling has commenced at Sao Chico. A programme of approximately 6,000 metres is planned to test the down dip continuity of the central ore zone. The first hole, completed within the last seven days, reported an intersection of 46.2 g/t of gold over a drilled width of 2.32 metre, approximately 240 metres from surface and 100 metres down-dip from the current lowest developed level....