Great Results...8 Oct 2013 08:04
8 October 2013
Serabi Gold plc
("Serabi" or the "Company")
Drilling at Sao Chico returns further excellent high grade gold results
of more than 100g/t
Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold
exploration and development company, today announces the remaining
results from its infill and step-out definition drilling programme at
its Sao Chico gold deposit in the Tapajos Province, Para State, Brazil.
[A PDF version of this release including pictures can be accessed using
the following link - http://hugin.info/137617/R/1734141/580777.pdf
Highlights
-- High-grade gold intersections (including 114.74 g/t and 175.19 g/t)
confirm a consistent high grade zone within the Main Vein.
-- Strike length of Main Vein has now more than doubled.
-- Structural continuity now confirmed over 350 metres.
-- Potential for further significant strike and depth extension remains,
particularly to the west.
Mike Hodgson CEO said "These results continue to show the excellent
potential of Sao Chico. The overall programme has to date more than
doubled the original 150 metre strike length, and following the first
holes drilled (c.f press release 3 September 2013), the possibility of
this strike length becoming substantially larger is a real possibility.
This latest set of results includes three very high grade intersections
all exceeding 100g/t gold, and their location really opens up the
possibility of the high grade ore zones extending at depth. As well as
potentially significantly enhancing the resource at Sao Chico we are
increasing our understanding of the deposit and we are now preparing all
the necessary submissions to the authorities for the conversion of the
trial mining license to a full mining licence.
Meanwhile Palito, our main asset continues to move steadily towards
production. Mining is well underway, both ore being produced from
stopes and through continuing mine development and a healthy high grade
stockpile is being established. The primary crushing plant is already
operational, and rehabilitation of the milling, gravity and flotation
sections is proceeding according to plan. We remain confident the plant
will be commissioned before year end. Once completed, we can begin to
process stockpiled Palito ore and focus on our plans to grow future
production".
A twenty-one (21) hole infill and step-out definition drill programme
that commenced in June 2013, targeting the high grade Main Vein at the
Sao Chico Project has now been completed. The results from the first 11
of these 21 holes were released on 9 September 2013 and the remaining 10
holes have continued to return a series of high grade gold
intersections. The drilling intercepted a continuous zone of alteration
and quartz sulphide veins beneath and along strike f
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