Serabi Gold PLC - gold miner in Brazil - Says recent drilling at its Sao Chico project in northern Brazil shows encouraging results with the identification of a new vein. Named the Gabi Vein, recent results confirm "several small, but very high-grade shoots" 70 metres to the south of the main vein. The drilling indicates a potential "deeper mineralised shoot" developing below 200 metres vertical depth. The exploration demonstrates further growth potential at Sao Chico.
Surface drilling also highlights a significant shallow mineralisation including 4.3 metre at 8.52 grams per tonne of gold, 100 metres below surface. For underground mining, the World Gold Council defines between one and 10 grams per tonne as 'high-quality', and one to four grams per tonne as 'low-quality'.
"These recent drill results on the Julia Vein to the west of the mine, and the previously overlooked historical drilling into the Gabi Vein, to the south of the mine, are very encouraging. These are satellites that are close to surface, therefore are easy to develop and require minimal capital development to access them," comments Chief Executive Mike Hodgson.
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By Will Paige; willpaige@alliancenews.com
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Serabi (SRB)