Outstanding20 Jun 2019 09:26
“From our experience at Palito and Sao Chico, we know that infill drilling on these veins from surface is impractical and that the best understanding is obtained from underground development and underground drilling. With the GUIA trial mining license (“GUIA”) in place, we are just awaiting final blasting permits, and once these are obtained, intend to commence an exploratory ramp into the Serra zone at Coringa, providing us with bulk sample data and better understanding to the orebody geometry.
“Whilst a new Preliminary Economic Assessment (“PEA”) is well underway, it is clear the Meio vein is shaping up to be a very significant orebody that has now been traced for a strike length of well over 1.3 kilometres. These additional drilling results are being incorporated into a further revision of the geological resource, which in turn will be incorporated into the PEA on the Coringa Project, results of which are expected to be disclosed before the end of July 2019.”