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A variety of sulphides are observed in all the drill holes, with percentages varying from trace amounts to levels exceeding 40% of the rock.
· Rocks being encountered at levels approaching 500 m vertical depth are strongly altered and strongly mineralised with sulphides within the breccia system.
Good luck all ;-)
https://c0fa6392-d308-44dd-a6f0-35d71f381b56.filesusr.com/ugd/c9f131_d3627549cf1341548d249ef51897689d.pdf
BB1 ACQUISITION CORP. AND CERRADO GOLD INC. ANNOUNCE CLOSING OF THE
SECOND AND FINAL TRANCHE OF SPECIAL WARRANT OFFERING FOR GROSS
PROCEEDS OF US$1,724,000
• Total financing proceeds from first and second tranche were US$7,076,600
Not Long Rockers uneducated sold imo GLA :-)
http://www.rns-pdf.londonstockexchange.com/rns/2423Y_1-2020-9-7.pdf
A variety of sulphides are observed in all the drill holes, with percentages varying from trace amounts to levels exceeding 40% of the rock
BPL028 was an RC hole drilled in January 2020 at the eastern extremity of the gold zone. This hole ended with 1.7 g/t Au in the very last sample at the bottom of the hole at 251 m depth. BPL028 has been extended deeper with a diamond tail and has encountered more broad, low grade gold mineralisation, including an additional 110.54 m @ 0.2 g/t Au (from 337 m) and including an interval of 47.62 m @ 0.3 g/t Au (from 367 m).
· Individual narrow intervals in hole BPL028 peak at 3.43 g/t Au and 5.03 g/t Au at vertical depths of 263 m and 377 m respectively. This hole indicates that the gold mineralising system remains active, open and prospective at depths approaching 400 m from surface.
· Drill hole BPL028 also encountered elevated silver and zinc intervals, including:
§ 86.57m @ 5.5 g/t Ag (from 361.41 m) including 6.09 m @ 16.5 g/t Ag (from 388.66 m).
§ The peak silver value is 52.7 g/t Ag.
§ 196 m @ 0.50 % Zn (from 250 m), including 19.23 m @ 1.05 % Zn from 381.73.
§ The peak zinc value is 4.32 % Zn
The Company continues to explore Plateau with the aim of identifying a higher-grade core in addition to the large, low grade system intersected thus far. The elevated silver and zinc levels indicate that drilling is currently at levels high above any potential higher gold grades and, as a result, the Company is actively drilling to 500m vertical depth. The Company believes that a major gold mineralising system has been intersected already and that a "main zone", similar to the Mt Wright Gold Mine (47km east) may also be present at depth.
Take the time to read it and think, the hole was massive help and confirmed drilling direction. It wasnt about drilling down and find huge grades of Gold. Cant see the wood for the trees GLA
· Drill hole BPL033 was designed primarily to provide confirmation of the dip of the rhyolite/andesite contact at depth and was drilled from south to north i.e. in the opposite direction to all other holes. The hole intersected several unexpected sulphide-rich shear zones, which are interpreted to be splaying off the main breccia complex. The hole also confirmed that our principle drilling direction from north to south is correct and valid.
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Cerrado RTO are Directors of Ascendant Resources
Cerrado Gold Update
Aug 4 2020
BACK TO NEWS
Dear All,
Please see the press release announcing that following extensive review and consultation with financial advisors, Cerrado Gold has agreed to go public through the mechanism of a reverse takeover (RTO) using a publicly listed shell Company; BB1 Acquisition Corp.(TSXV: BBA.P). This mechanism should allow Cerrado to become a publicly traded entity by the end of November.
of Mexican Operations and Corporate Controller. He holds a B.A. in Applied Mathematics
and Economics from Harvard University.
Kurt Menchen
Chief Operating Officer & Director
Mr. Menchen was formerly the President of Operations, Brazil, of Largo Resources Ltd, and has
over 42 years of experience operating and managing mining projects, including over 20 years as
General Manager at the Jacobina Gold project in Bahia State, Brazil. His prior experience also
includes Anglo American's Vaal Reefs underground gold mine in South Africa and De Beers
Diamonds in Angola. Mr. Menchen holds a degree in mining engineering from the Federal
University of Rio Grande do Sul, Brazil.
Robert Campbell
Vice President of Exploration & Director
Mr. Campbell is an exploration geologist with over 42 years experience in the mining and
exploration industry through Canada, United States and Latin America. He has worked for a
number of major mining companies, most notably Noranda and Lac Minerals and is currently the
Vice President of Exploration for Ascendant Resources. Mr. Campbell most recently worked with
Largo Resources from its inception in November 2003 to November 2018 as Vice President of
Exploration. He has also held other senior management positions such as Vice President of
Exploration for Apogee Minerals Ltd.
Maria Virginia Anzola
General Counsel & Corporate Secretary
Ms. Anzola has over 20 years of experience advising companies in the extraction industry. In her
role as General Counsel, Ms. Anzola provides leadership and direction on all legal matters
involving Cerrado and its operations. As Corporate Secretary, she is responsible for all matters
relating to the Board of Directors, its committees, and the overall implementation of corporate
governance best practices. Prior to joining Ascendant in 2017, Ms. Anzola served as Assistant
General Counsel for Primero Mining Corp, and prior to that she served as Senior Counsel for
Hudbay Minerals Inc. In addition, Ms. Anzola served as Consultant to the Tax Group of Borden
Ladner Gervais LLP for over two years. Prior to moving to Canada, Ms. Anzola spent 11 years in
private practice in her home country of Venezuela, mostly advising international companies
engaged in the oil and gas business. Ms. Anzola has been called to the BAR in Ontario and
Venezuela and has an LL.M from the University of Michigan, Ann Arbor and from Osgoode Hall
Law School.
Board of Directors
Mark Brennan
Chief Executive Officer & Co-Chairman
See above under the heading, “Management”.
We increased our investment in Cerrado at US$0.50 per share, prior to it successfully acquiring the Don Mario Mine in Argentina. The acquisition of the mine for a total of US$45.0M was non-dilutive to the shareholder base, as it was achieved through the sale of a royalty which covered the US$15.0M initial payment to acquire 100%. The remaining US$30.0M to be paid is in three payments of US$10.0M every 24 months. Cerrado is now in control of the Don Mario mine and is fully benefitting from the rise in the price of gold. The company continues to plan for a listing over the next 6 months, when capital markets have stabilized.
https://www.cerradogold.com/
Cerrado Gold Update
Aug 4 2020
BACK TO NEWS
Dear All,
Please see the press release announcing that following extensive review and consultation with financial advisors, Cerrado Gold has agreed to go public through the mechanism of a reverse takeover (RTO) using a publicly listed shell Company; BB1 Acquisition Corp.(TSXV: BBA.P). This mechanism should allow Cerrado to become a publicly traded entity by the end of November.
We are currently in a tremendously strong gold price environment which has led to a very positive stock market for gold companies. We expect this trend to continue for the foreseeable future. As such, management believes now is the right time to conduct the public listing process. The announcement of a go public transaction should also facilitate the capital raise Cerrado is currently undertaking by increasing the pool of potential investors who may entertain a “near public” opportunity.
?
As per my last note, we are in the process of raising $5 million at a pre money valuation of US$47 million (US$0.80 per share) with Haywood Securities, and while we have had a very positive response to the Cerrado investment opportunity, we have been hindered by the fact that we are a private company and cannot assure liquidity to potential investors; investors who have been making very good money with liquid public companies.
Both up over 100% from purchase in March 2020