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Serabi Gold plc - First quarter update on gold ...
Serabi Gold plc - First quarter update on gold ....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Gold plc - First quarter update on gold operations at Palito and Sao ChicoFor immediate release 20 April 2016Serabi Gold plc(\"Serabi\" or the \"Company\")First 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 first quarter of 2016 on its wholly owned Palito and Sao Chico gold operations in the Tapajos region of Para State, Northern Brazil. HIGHLIGHTS9,771 ounces of gold produced for the first quarter of 2016 (Q4 2015 - 7,924 ounces). Mine production totalled 37,546 tonnes. 26,752 tonnes at a grade of 11.84 grammes per tonne (g/t) of gold from Palito. 10,794 tonnes at 9.00 g/t of gold from Sao Chico. 36,615 tonnes of ore processed through the plant for the combined mining operations.2,926 metres of horizontal mine development completed in the quarter with 1,901 metres completed at Palito and 1,025 metres at Sao Chico. Installation of the third ball mill is almost complete, along with the second flotation line and enhancements in the carbon in pulp (\"CIP\") plant. The works are on schedule to be complete by the beginning of May. A carbon regeneration kiln is also being acquired which will assist in enhancing gold recoveries once the kiln is operational in the second half of the year.Sao Chico now being developed on the 171mRL, 156mRL and 141mRL, with production ore being mined from the 186mRL level. The ramp continues to be deepened to the 126mRL, the next planned development level, and will continue this year to the 96mRL to accommodate underground drilling of the Sao Chico deposit extension at depth. At the end of the first quarter, the combined surface stockpiles at Palito and Sao Chico totalled 17,000 tonnes at a grade of 5.3 g/t of gold.The following link can be used to access an interview with Mike Hodgson, CEO discussing the first quarter operational results http://brrmedia.co.uk/event/141788?popup=trueMike Hodgson, CEO said: \"The first quarter of 2016 has been very satisfying, building on the Company's strong finish to 2015. This has been the best quarter to date in terms of both ore production from the mines and the volume of ore proces...