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Serabi Gold plc : Updated Mineral Resource and ...
Serabi Gold plc : Updated Mineral Resource and ....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n Serabi Gold plc : Updated Mineral Resource and Mineral Reserve StatementFor immediate release11 December 2017Serabi Gold plc(\"Serabi\" or the \"Company\")Updated Mineral Resource and Mineral Reserve StatementSerabi Gold (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, is pleased to announce updated Mineral Resource and Mineral Reserve estimates for its Tapajos mining and processing operations (\"Tapajos Operations\"), prepared in accordance with the standard of CIM and Canadian National Instrument 43-101 with an effective date of 30 June 2017, as outlined below. The Tapajos Operations currently comprise the mining and processing of the Palito and Sao Chico ore-bodies.HighlightsA combined estimated Proven and Probable mineral reserve for the Palito and Sao Chico ore-bodies of 182,000 ounces of contained gold (703,000 tonnes at an average diluted grade of 8.05 g/t) supporting in excess of four years of production. Mineral reserves for the Palito ore-body are estimated at 157,000 ounces of contained gold (613,000 tonnes at an average diluted gold grade of 7.99 g/t). Mineral reserves for the Sao Chico ore-body are estimated at 24,000 ounces of contained gold (90,000 tonnes at an average diluted gold grade of 8.43 g/t). Measured and Indicated mineral resources for the Palito ore-body increased by 31 per cent., compared with the previous resource estimation of June 2012, to 271,000 ounces of contained gold with a further Inferred mineral resource of 177,000 ounces of contained gold. Measured and Indicated mineral resources for Sao Chico ore-body increased by 44 per cent., compared with the October 2012 resource estimation, to 36,000 ounces of contained gold with an additional Inferred mineral resource of 54,000 ounces of contained gold. The mineral resource and reserve estimates exclude previously announced gold discoveries made by Serabi including the Currutela, Copper Hill, Piaui and Palito South areas, where there is currently insufficient geological data to estimate a mineral resource for these discoveries. An infill drill programme is currently underway that will provide additional geological date on each of these project areas. (Note: All reserve and resource figures stated above are both gross and net attributable to Serabi.)Mike Hodgson, CEO of Serabi,...