(Alliance News) - Miner Serabi Gold PLC on Tuesday said the current mineral resource at the Sao Chico project in Brazil will be boosted following recent drilling.
Serabi began a 9,600 metre step out drill programme in the fourth quarter of 2019, testing the east and west continuity of the orebody at the gold project.
Chief Executive Officer Mike Hodgson said: "The results from this drilling campaign are very encouraging. Since the announcement of the initial drill results on January 6, the current campaign has continued to report positive results as we step out both the east and west, intersecting the continuation of the same orebody with both mineable grades and widths.
"We have now completed approximately 40% of the planned drilling programme which will continue until mid-2020 following which the company intends to undertake a new mineral resource estimate during the second half of the year."
Shares in the company were 1.3% higher at 81.00 pence each in London on Tuesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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