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Serabi significantly extends mine life at the...
Serabi significantly extends mine life at the....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n\n \n \n\n Serabi significantly extends mine life at the Palito Complex as new 43-101 is published.\n\nSerabi significantly extends mine life at the Palito Complex as new 43-101 is published. Serabi Gold (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, is pleased to announce updated Mineral Reserve estimates for its Palito Complex (being the Palito deposit and the Sao Chico satellite deposit), and the publication of a new Technical Report prepared in accordance with the standard of CIM and Canadian National Instrument 43-101, with an effective date of 31 July, 2023 as outlined below. HIGHLIGHTS Proven and Probable Reserves totalling 206,400 ounces (824,800 tonnes @ 7.78 g/t Au), a threefold increase on the previously disclosed total of 67,344 ounces as at 31 December 2021.The average grade of 7.78 g/t Au, is an improvement of 11% over the mean grade of the December 2021 estimation.Mineral Reserves at Palito are equivalent to over six years of operations at current production levels, without considering conversion of the additional Mineral Resources and more than 3 times the previous estimate of reserve life.NCL Ingeniería y Construcción SpA of Santiago de Chile (“NCL”) have prepared this Mineral Resource and Mineral Reserve estimation together with a new 43-101 Technical Report which is available on the Company’s website and on SEDAR. These Mineral Reserves are included in the Mineral Resources disclosed on 6 October 2023 which comprised: Measured and Indicated (“M&I”) Resource of 377,800 ounces of contained gold (1,166,300 tonnes at an average in-situ grade of 10.08 g/t Au), an increase of 50% compared to December 2021. Further Inferred Resource of 153,900 ounces (682,400 tonnes at an average in-situ grade of 7.01 g.t Au) The new NI 43-101 compliant Technical Report can be accessed using the following link - https://bit.ly/3QLI5MP Mike Hodgson CEO commented, “This new Mineral Reserve of 206,400 ounces represents three times the previous estimation of December 2021. This is an outstanding outcome achieved through a lot of hard work at site, and a significant reward for an aggressive 18 month underground drilling campaign, which has clearly been very successful. “Palito, like many small vein mines, faces challenges demonstrating longevity. Serabi has nonethel...