Business
Serabi reports improving gold production for th...
Serabi reports improving gold production for th....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n \n Serabi reports improving gold production for the fourth quarter of 2020.\n \n \n \n \n For immediate release\n \n 14 January 2021\n \n Serabi Gold plc\n (“Serabi” or the “Company”)\n \n \n Serabi delivers improving gold production for the fourth quarter of 2020.\n \n Serabi Gold plc (AIM: SRB, TSX: SBI), the Brazilian focused gold mining and development company, is pleased to provide the results and a review of its fourth quarter operational and development activities in the Tapajos region of Para State, Northern Brazil. \n \n A PDF Version of this release including all images can be accessed using the following link - \n \n https://bit.ly/38GD9Em\n \n \n \n OPERATIONAL and DEVELOPMENT HIGHLIGHTS\n \n \n Fourth quarter gold production of 7,254 ounces, a small improvement on the third quarter and resulting in an annual total of 32,003 ounces. \n Production for December 2020 exceeded 3,000 ounces, the best monthly result since the end of April 2020.\n Total ore mined during the quarter of 46,275 tonnes at 5.24 grams per tonne (“g/t”) of gold.\n 43,440 tonnes of run of mine (“ROM”) ore were processed through the plant from the combined Palito and Sao Chico orebodies, with an average grade of 5.27 g/t of gold, an improvement of 9% compared with Q3.\n 3,353 metres of horizontal development completed during the quarter, the highest since operations commenced, and a 10% increase on the previous quarter. Over 12,200 metres were developed during the year.\n Mine site and regional exploration activities resumed in the fourth quarter. A 32,000 metres drill programme is planned for 2021 with activity underway at the recently acquired Sao Domingos exploration tenement, immediately to the west of Sao Chico as well as Palito. \n Geophysical surveys commenced and remain ongoing at the Company’s Calico prospect.\n The much-anticipated award of the Licença Prévia (LP) for the Company’s Coringa Gold project, was issued by the state environmental agency (“SEMAS”) on 8 October 2020\n \n \n FINANCIAL AND CORPORATE HIGHLIGHTS\n \n \n Cash totalled US$8.1 million at the end of December 2020 (including the initial outstanding proceeds from a December gold sale of US$1.5 million).\n US$3.0 million paid in the quarter to Equinox Gold Corp (“Equinox”) unde...