cont2 Oct 2010 15:53
The survey was divided into 3 discrete areas, identified as the TZ1, located to the north of the Palito Mine, TZ2, located south east of Palito and TZ3 located to the south. A diagram is appended to this release for reference purposes.
In the TZ1 area 5 significant, highly conductive - low resistivity anomalies were identified. One of these is a large anomaly lying within the historical "Pele" area. The Pele area has seen significant past garimpeiro surface gold mining activity and is associated with a geochemical anomalism. Additionally a low resistivity anomaly was found with a strike length of 800m which may represent a different style of mineralisation to Palito. Significantly, this corresponds to the historic Tatu Garimpo trend, where the company has previously discovered rock chip samples with gold grades up to 191g/t from quartz - magnetite veining considered to be from within a brittle fault zone, with minimal or no sulphide association.
The results also identified a further three chargeability anomalies which follow and lie within the dominant regional 070° trending structural corridor which hosts the main Palito mineralization. These geophysical anomalies potentially represent chargeable sulphides manifesting along geological structures.
Within the TZ2 area, the most significant zone of IP anomalies were defined at the Kubanikan prospect area, where a chargeable complex, containing at least 6 discrete, sub-parallel, chargeable bodies, has been found. This chargeable, conductive complex, displays very similar geophysical attributes to that of the Palito Main Zone. This zone remains open to the east and west, with indications that the chargeable bodies continue in both strike directions.
In the TZ3 survey area, south of the Palito mine, two (2) significant IP anomalies were defined, the most significant of which is a high chargeability anomaly, exceeding 500m in length, and certainly appears to be similar to those associated with the plunging ore zones and shoots within the Palito Main Zone
Serabi is currently in final negotiations with drilling contractors, and remains on schedule to commence drilling in July 2010. Serabi will also take the opportunity to complete further IP surveys in July, to further extend and delineate the significant TZ2 and TZ3 anomalies.
A map showing the survey areas and the drill targets is appended to this release. The full release including the map is available to download from the company's website
Sign In
Follow the stocks
