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Serabi Gold plc: Operational and Exploration Re...
Serabi Gold plc: Operational and Exploration Re....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Gold plc: Operational and Exploration Review of Third Quarter 2018For immediate release 30 October 2018Serabi Gold plc(“Serabi” or the “Company”)Operational and Exploration Review of Third Quarter 2018Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, is pleased to provide a quarterly update on its operational and exploration activities from its Palito Complex in the Tapajos region of Para State, Northern Brazil. A version of this news release in PDF form can be accessed using the following link: https://bit.ly/2RlMWE2OPERATIONAL HIGHLIGHTSThird quarter production of 8,101 ounces of gold, with production for the year to date totalling 26,852 ounces.Highest level of mined tonnage for the year with a total of 42,725 tonnes at 6.23 grams per tonne (“g/t”) of gold. 41,405 tonnes of run of mine (“ROM”) ore processed through the plant from the combined Palito and Sao Chico orebodies, with an average grade of 6.11 g/t of gold, a nine per cent increase in throughput rates compared with the second quarter. Additional 6,825 tonnes of historical tailings processed through the leaching circuit at a grade of 3.5 g/t of gold. The highest quarterly total of horizontal mine development in 2018, with 2,814 metres completed.EXPLORATION and DEVELOPMENT HIGHLIGHTSCompletion of a 4,343 line kilometre airborne HeliTEM Electro-magnetic (“EM”) and Magnetic survey.Completion of 80 line kilometres of a terrestrial Induced Polarisation (“IP”) geophysical survey.4,237 metres of surface exploration drilling completed over the Sao Chico deposit, successfully intersecting the strike extension of the Sao Chico orebody up to 300 metres west of the current mine limit.1,520 metres of surface drilling at the Palito deposit, targeting the north extension of the main G3 vein, with the most significant intersection recording 19 g/t of gold over a width of 0.55 metres. Commencement of surface drilling at Coringa in preparation for a new mineral resource update to be issued in the first quarter of 2019. Start-up of the portal development and underground access at Coringa.Mike Hodgson, CEO, said: “This third quarter has been very encouraging. We have had some excellent exploration success at Sao Chico and P...