Serabi Gold's Exploration Progress at Palito and Coringa Mines
Serabi Gold's Exploration Initiatives
Serabi Gold plc (“Serabi” or the “Company”) (AIM:SRB, TSX:SBI, OTCQX:SRBIF) is a prominent gold mining and development company active in Brazil. The company has recently shared an exciting exploration update focusing on its Palito Complex and Coringa Mine, specifically highlighting the results from the ongoing diamond drilling campaign which commenced as part of its growth strategy aimed at producing over 100,000 ounces of gold annually.
Key Highlights from the Drilling Program
With a budget of $9 million allotted for a comprehensive 30,000 meter drilling program, Serabi is making significant strides in its exploration initiatives at both sites. This year has already shown promising advancements:
- New orebody discovered at Coringa in the Serra South zone, located approximately 500 meters south of the Serra mine.
- Extension of the Meio zone trend at Coringa is notably increasing the potential for additional resources.
- Significant extensions of the Senna orebody at the Palito Complex have been confirmed, suggesting a broader area of mineralization.
Impressive Drill Results
Initial findings from the 2025 drilling campaign have been overwhelmingly positive, with notable gold grades obtained from various drill holes. Some of the standout results include:
- Hole 25-SR-010: 0.53m @ 151.00 g/t Au from 60.68m (ALS lab at Serra)
- Hole 25-SE-004: 1.36m @ 17.99 g/t Au from 195.50m, including 0.33m @ 58.40 g/t (ALS lab at Senna)
- Hole 25-SE-005: 0.41m @ 13.95 g/t Au from 40.72m (ALS lab at Senna)
- Various other successful intercepts have demonstrated the high-grade potential within both mining complexes.
It's also worth noting that all results from the drilling were promptly sent for assay testing, ensuring reliability and accuracy in verifying these findings.
Future Exploration Plans
The ongoing and forthcoming drill programs will contribute significantly to the company's strategy to potentially increase the current mineral inventory from 1 million ounces to over 1.5 million ounces. By December 2025, Serabi plans to update its Mineral Resource Estimate with the results from the 2025 campaign, paving the way for a similar expansion in 2026.
Advancements at Palito Complex
At the Palito Complex, the exploration program has been advancing with the completion of 14,000m of diamond drilling. Thus far, 10,400m have been completed across 35 drill holes. Encouragingly, the Senna target has shown both upward and downward mining potential:
- Drilling results confirmed mineralization beyond the previously mined areas from 2015 to 2019, indicating strong continuity.
- The company intends to expand its drill program to further explore the promising extension of gold mineralization at these targets.
Market Perspectives and Operational Outlook
Serabi Gold’s current trajectory reflects solid growth potential and enhances the company’s position as a leading gold producer in Brazil. With plans to ramp up exploration activities and a clear focus on resource growth, Serabi is on track to provide long-term value for its investors.
FAQs
What is Serabi Gold's primary focus in its exploration efforts?
Serabi Gold primarily focuses on gold exploration and production within the Tapajós region of Brazil.
What are the recent highlights of Serabi's drilling program?
The discovery of a new orebody at Coringa and significant extensions of existing orebodies at Palito are major recent highlights.
What is the aim of Serabi Gold's growth strategy?
Serabi aims to grow its production capacity to over 100,000 ounces of gold per annum through targeted exploration and development initiatives.
How much drilling has been conducted within the current campaign?
Serabi has conducted approximately 30,000 meters of drilling within its current exploration campaign.
Where can I find further information about Serabi Gold?
For more details, please visit the company’s official website at www.serabigold.com.
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