Serabi provides update to regional exploration campaign
at its Palito Complex
Serabi Gold plc (AIM:SRB, TSX:SBI), the
Brazilian-focused gold mining and development company, is pleased
to provide an exploration update from its activities on its
regional tenement holding over the Palito complex in the Tapajos
region of Para State, Northern Brazil.
TO ACCESS A PDF COPY OF THIS NEWS
RELEASE PLEASE USE THE FOLLOWING LINK -
https://bit.ly/3xnwSfF
Highlights
- Induced
Polarisation (IP) programme completed in December 2023 over the São
Domingos property identified a 1km long x 0.25km wide chargeability
anomaly. The anomaly underlies several areas of artisanal
activity.
-
Western limit of the anomaly was drilled in 2021 (7.2m @ 258 g/t
(see announcement dated 7 April 2021). A follow-up wide-spaced
(approx. 100m between holes) shallow depth (i.e. up to 7m) auger
programme has been undertaken. Significant auger intercepts to date
are as follows:
- Hole 24-TRSAD-004 – 1m @ 18.46 g/t
Au from 1.00m
- Hole 24-TRSAD-006 – 2m @ 0.18 g/t
Au from 3.00m
- Hole 24-TRSAD-015 – 1m @ 0.10 g/t
Au from 0.00m
- Hole 24-TRSAD-015 – 1m @ 0.25 g/t
Au from 6.00m
- Hole 24-TRSAD-016 – 2m @ 0.54 g/t
Au from 6.00m
- Hole 24-TRSAD-017 – 1m @ 0.19 g/t
Au from 0.00m
- Hole 24-TRSAD-020 – 1m @ 0.15 g/t
Au from 2.00m
-
Hole 24-TRSAD-024 – 0.5m @ 0.10 g/t Au from 4.00m
-
Significant progress has been made on the interpretation of the
14,551-sample soil geochemistry database (approx. 7,000 samples
collected in 2023). This regional geochemical database covers over
70% of Serabi’s permit portfolio. In addition to the Matilda copper
target, at least four similar geochemical alteration systems have
been identified. Within these systems, specific targets include the
Copper Hill, Ganso, and Calico, confirmed by recent drilling and
the untested targets at Letícia, Juca and Isla. Data interpretation
and exploration continues.
-
First phase drilling completed in January on the Ganso Target,
indicates a large zone with geologic features and mineralogy
characteristic of an upper alteration zone typical of a copper
porphyry system. This new target for epithermal gold and porphyry
copper-gold mineralisation is located just 13km northeast of the
Matilda copper target.
- Recent diamond
drilling at Matilda demonstrates mineralisation extends to over
150m depth with results for the final hole 21 intersecting the
depth continuation of mineralisation, previously intersected in
holes 4, 6, 15, & 16 as follows:
- Hole 23-MT-021 – 144m @ 0.26% Cu
and 0.06 g/t Au from 228.00m
- Hole 23-MT-021 – 32m @ 0.40% Cu and
0.10 g/t Au from 410.00m
Mike Hodgson CEO commented
“The new IP geophysics and soil
geochemistry results, combined with the historic high-grade results
from 2021, make São Domingos a highly compelling target. This new
data set has helped us understand better the past successful
drilling results of 2021 (7.15 m @ 258g/t). We have revised our
initial geological interpretation and are a significant step closer
to identifying the source that has supported extensive artisanal
workings in the area.”
“Matilda continues to deliver positive
results and the team is focused on understanding the
mineralisation. At the same time the wider exploration results to
date show that Matilda is not unique, and the regional geological
system is larger and has more potential for hosting copper porphyry
mineralisation than expected. The discovery of new, large targets
within the extensive tenement holding demonstrates the potential of
the region.
“Drilling completed in January has
confirmed that the Ganso Target is the preserved upper portion of a
porphyry system. This is important, not only for Serabi but also
for the entire Tapajos region, as it confirms that despite the old
age of the rocks, the region has a huge untested potential as a
source of porphyry style copper or copper-gold and epithermal gold
mineralisation.
“These are exciting times and Serabi has
only just commenced unlocking the potential of the district. The
discovery of the alkalic porphyry style copper-gold deposit at
Matida is highly significant for the district and for Serabi. With
more targets defined, we are conscious of the need to continue
focused exploration with the objective of demonstrating the
viability of at least one target.
“Whilst Vale have, during this week,
informed us that they wish to withdraw from the exploration
alliance, we do have a number of other groups keen to partner with
us on the exploration for copper mineralisation. We remain excited,
and these other companies seem to share our optimism, for
discovering commercial copper porphyry mineralisation in our
Tapajos tenements. We have very much enjoyed working with Vale and
from Serabi’s perspective achieved a key objective of significantly
advancing our understanding of Matilda as well as identifying other
potential targets for copper porphyry mineralisation during the
past 12 months”.
Detailed Results and Technical
Discussion
The planned 2024 exploration programme will
focus on brownfield exploration at Coringa and Palito to increase
resources, and continued testing and delineation of new targets
being identified within the Serabi exploration tenement package
including the prospect of further definition drilling at Matilda.
New targets continue to be identified and most have no drilling, so
more news can be expected during the year from the exploration
activities - A summary of regional targets and discoveries to date
is show in the map below:
Please use the following ink to access
the image -
https://bit.ly/4cMRmOOFigure 1. Map
showing regional targets and discoveries to date.
Matilda:
Results for the last two drill holes of the 2023
campaign have been received. Drillhole 23-MT-021 was drilled below
the shallow high-grade zone intercepted in drillholes 23-MT-004 and
23-MT-006, to test the mineralised zone at depth. Long intervals at
greater than 0.20% Cu, including 144m @ 0.26% Cu from 228m,
demonstrate the continuity of grade at depth, while zones equal to
or greater than 0.40% Cu, including 32m @ 0.40% Cu and 0.1 g/t Au
from 410m, indicate the potential for sustained intervals of
mineralisation at potentially commercial grades.
Results for 23-MT-021 are shown below.
- 18m @ 0.26% Cu from 24m
- 56m @ 0.26% Cu from 122m
- 144m @ 0.26% Cu from 228m
- Incl. 18m @ 0.47% Cu from 242m
- Incl. 18m @ 0.46% Cu from 352m
- 46m @ 0.35% Cu from 396m
Currently, the large amount of data produced in
2023 continues to be processed and evaluated. Together with a
second round of definition drilling the Board expects that this
should significantly enhance our understanding of the potential
mineral resource at Matilda.
Please use the following ink to access
the image -
https://bit.ly/43OlgyjFigure 2 Section
showing the 23-MT-021 related to the previous drilling and copper
shells at Matilda
São Domingos:
A 5.85 line km pole-dipole induced polarization
(IP) survey was conducted over the São Domingos target, covering
the historic drilling at Tucano which returned a gold intersection
of 7.15m @ 258.24 g/t (see announcement dated 7 April 2021). The IP
survey identified a robust 500m x 750m chargeability anomaly to the
east of the drilling. The anomaly has an elongated splay that
extends beneath the known breccia-hosted mineralisation along an
interpreted E-W structure (see Figure 3 below).
Please use the following ink to access
the image -
https://bit.ly/49kNTExFigure 3. Sao
Domingos Plan View Map showing the auger results over the
chargeability anomaly
Previous drilling at Tucano intercepted a
magmatic-hydrothermal breccia, with gold grades correlated with
pyrite abundance. The breccia was interpreted to be related to an
unidentified intrusion, with potential for intrusion-related-gold
or porphyry copper-gold mineralisation associated with the
intrusion. The new chargeability anomaly is therefore a high
priority target for drill testing.
Soil sampling over the IP anomaly identified a
1km x 1km gold anomaly associated with the chargeability anomaly.
Extensive artisanal mining in alluvium surrounds the anomaly but to
date, no source of the alluvial gold has been confidently
identified.
A shallow depth (ie up to 7m) auger programme to
sample saprolite is currently underway to assist in planning a
diamond drilling programme. Initial results to date include:
- Hole 24-TRSAD -004 – 1m @ 18.46 g/t
Au from 1.00m
- Hole 24-TRSAD -006 – 2m @ 0.18 g/t
Au from 3.00m
- Hole 24-TRSAD -015 – 1m @ 0.10 g/t
Au from 0.00m
- Hole 24-TRSAD -015 – 1m @ 0.25 g/t
Au from 6.00m
- Hole 24-TRSAD -016 – 2m @ 0.54 g/t
Au from 6.00m
- Hole 24-TRSAD -017 – 1m @ 0.19 g/t
Au from 0.00m
- Hole 24-TRSAD -020 – 1m @ 0.15 g/t
Au from 2.00m
- Hole 24-TRSAD -024 – 0.5m @ 0.10
g/t Au from 4.00m
Please use the following
ink to access the image -
https://bit.ly/3xq5OMKFigure 4 Map showing
IP chargeability anomaly, gold in soils and Tucano auger drillhole
locations.
Please use the following ink to access
the image -
https://bit.ly/3xnvpGbFigure 5. Oblique
view looking NW showing IP chargeability anomaly and Tucano
drilling.
Ganso:
6 drillholes for a total of 1,168m were drilled
at Ganso in late 2023 with the last hole being completed in January
2024. Drilling intercepted pyroclastic lithologies with extensive
advanced argillic alteration characterised by quartz-alunite ±
kaolinite, with pyrite and minor vuggy quartz. At depth, drilling
intercepted pervasive phyllic alteration characterised by
quartz-sericite-pyrite, and minor zones of relict potassic
alteration characterised by K-feldspar-biotite-magnetite.
The lithologies, alteration assemblages and
parageneses are consistent with a lithocap setting. The positive
identification of the Ganso target as a lithocap is important as it
indicates that Ganso is potentially the upper part of an alkalic
porphyry style system, with potential for high-sulphidation
epithermal mineralisation above or laterally displaced from
porphyry style, copper and/or gold mineralisation at depth. The
drilling suggests that the lithocap-porphyry transition has been
intercepted, and that the entire porphyry system may be preserved
at depth.
Field mapping identified possible extents of the
lithocap across an area of 1km x 1.5km, coincident with a
Bi-Mo-Pb-Sb-Ba geochemical anomaly, a typical high-level epithermal
signature. Spotty but locally very high grade (>1 ppm) soil
samples occur within the multielement anomaly. To date, only a
small portion of the southern edge of the lithocap has been drill
tested. EM conductor anomalies remain untested by drilling and
these may represent clay-rich alteration in the upflow zone
generated by a porphyry system at depth.
Follow up drilling and geophysics is being
planned to test both the epithermal gold and porphyry potential.
Discussions are underway to include Short Wave Infrared and whole
rock analysis to help identify exploration vectors during the
drilling programs.
Following the discovery of Matilda, the
identification of the Ganso target as a lithocap has confirmed the
regional potential of the Serabi exploration permits and led to a
re-evaluation of similar new and existing targets, such as Letícia,
Calico and Juca.
Please use the following ink to access
the image -
https://bit.ly/4apIwoMFigure 6. Map
showing drillhole locations, geochemical anomalies and EM anomalies
with DTM background at Ganso
Regional Soil Sampling:
A total of 6,772 soil samples were collected over the regional
tenement during 2023. These new soil samples supplement the
historical soil sample database and provide regional scale surface
geochemistry coverage of over 70% of Serabi’s Palito Complex
tenement package. The combination of surface geochemistry and aero
geophysics has a proven track record of generating exploration
targets for Serabi, including the Matilda, Ganso, Calico and Juca
targets.
Interpretation from the new survey is ongoing, however new
targets already identified include:
- Isla – 3.5km long >300ppm copper anomaly associated with a
structurally emplaced mafic-ultramafic unit.
- Isla South – magnetic and copper soil anomaly in a similar
structural setting as Matilda.
- Letícia – 4km anomalous gold trend.
- Letícia North – 2km x 800m soil geochemistry target with
characteristics of a potential lithocap.
- Juca – circular 1km diameter intrusion related gold soil
anomaly.
- Calico North – 5km x 2km anomalous gold trend interpreted to
represent the south-western extension of the Palito vein
system.
- Calico – 1km diameter soil geochemistry target with
characteristics of a potential lithocap.
- Ganso – 1.5km diameter soil geochemistry anomaly dominated by
advanced argillic and phyllic alteration with potassic alteration
intersected at depth in recent drilling.
- Ganso East – 1km x 500m target with similar geophysical and
multi-element soil geochemistry to Ganso.
- São Domingos IP target – extensive zone of anomalous gold
associated with IP chargeability anomaly.
Please use the following
ink to access the image -
https://bit.ly/4aIG1gZFigure 7. Showing
the soil sample grid cover in Serabi’s permits.
The information contained within this
announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018.
The person who arranged for the release of this
announcement on behalf of the Company was Clive Line, Director.
Enquiries
SERABI GOLD plcMichael
Hodgson t
+44 (0)20 7246 6830Chief
Executive m
+44 (0)7799 473621
Clive
Line t
+44 (0)20 7246 6830Finance
Director m
+44 (0)7710 151692
Andrew Khov
m
+1 647 885 4874Vice President, Investor Relations & Business
Development e
contact@serabigold.com
www.serabigold.com
BEAUMONT CORNISH LimitedNominated
Adviser & Financial AdviserRoland Cornish / Michael
Cornish t
+44 (0)20 7628 3396PEEL HUNT LLPJoint UK
BrokerRoss
Allister t
+44 (0)20 7418 9000
TAMESIS PARTNERS LLPJoint UK
BrokerCharlie Bendon/ Richard
Greenfield t
+44 (0)20 3882 2868
CAMARCOFinancial PR -
EuropeGordon Poole / Emily
Hall t
+44 (0)20 3757 4980
HARBOR ACCESS Financial PR – North
AmericaJonathan Patterson / Lisa
Micali t
+1 475 477 9404
Copies of this announcement are available from
the Company's website at www.serabigold.com.
See
www.serabigold.com for more information
and follow us on twitter @Serabi_Gold
APPENDIX - DRILL RESULTS
TABLES
São Domingos Auger Results 2024 drilling
campaign
|
Hole_ID |
Sample |
From |
To |
Interval |
Au_DIBK ppm |
|
24-TRSAD-001 |
AGSR000116 |
0 |
1 |
1 |
0.04 |
|
24-TRSAD-001 |
AGSR000117 |
1 |
2 |
1 |
0.06 |
|
24-TRSAD-001 |
AGSR000118 |
2 |
3 |
1 |
0.03 |
|
24-TRSAD-001 |
AGSR000119 |
3 |
4 |
1 |
0.06 |
|
24-TRSAD-001 |
AGSR000120 |
4 |
5 |
1 |
0.06 |
|
24-TRSAD-001 |
AGSR000121 |
5 |
6 |
1 |
0.06 |
|
24-TRSAD-001 |
AGSR000122 |
6 |
7 |
1 |
<0,04 |
|
24-TRSAD-001 |
AGSR000123 |
7 |
7.6 |
0.6 |
<0,04 |
|
24-TRSAD-002 |
AGSR000124 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-002 |
AGSR000125 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-002 |
AGSR000126 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-002 |
AGSR000127 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-002 |
AGSR000128 |
4 |
5 |
1 |
0.05 |
|
24-TRSAD-002 |
AGSR000129 |
5 |
6 |
1 |
<0,04 |
|
24-TRSAD-002 |
AGSR000130 |
6 |
6.4 |
0.4 |
<0,04 |
|
24-TRSAD-003 |
AGSR000131 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-003 |
AGSR000132 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-003 |
AGSR000133 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-003 |
AGSR000134 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-003 |
AGSR000135 |
4 |
4.5 |
0.5 |
<0,04 |
|
24-TRSAD-004 |
AGSR000136 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-004 |
AGSR000137 |
1 |
2 |
1 |
18.46 |
|
24-TRSAD-004 |
AGSR000138 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-004 |
AGSR000139 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-004 |
AGSR000140 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-004 |
AGSR000141 |
5 |
6 |
1 |
0.08 |
|
24-TRSAD-004 |
AGSR000142 |
6 |
6.2 |
0.2 |
<0,04 |
|
24-TRSAD-005 |
AGSR000143 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-005 |
AGSR000144 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-005 |
AGSR000145 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-005 |
AGSR000146 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-005 |
AGSR000147 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-005 |
AGSR000148 |
5 |
6 |
1 |
0.05 |
|
24-TRSAD-006 |
AGSR000149 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-006 |
AGSR000150 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-006 |
AGSR000151 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-006 |
AGSR000152 |
3 |
4 |
1 |
0.17 |
|
24-TRSAD-006 |
AGSR000153 |
4 |
5 |
1 |
0.20 |
|
24-TRSAD-006 |
AGSR000154 |
5 |
6 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000155 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000156 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000157 |
2 |
3 |
1 |
0.06 |
|
24-TRSAD-007 |
AGSR000158 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000159 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000160 |
5 |
6 |
1 |
0.04 |
|
24-TRSAD-007 |
AGSR000161 |
6 |
7 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000162 |
7 |
8 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000163 |
8 |
9 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000164 |
9 |
10 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000169 |
10 |
11 |
1 |
<0,04 |
|
24-TRSAD-007 |
AGSR000170 |
11 |
12 |
1 |
0.04 |
|
24-TRSAD-007 |
AGSR000171 |
12 |
12.6 |
0.6 |
<0,04 |
|
24-TRSAD-008 |
AGSR000172 |
0 |
1 |
1 |
0.04 |
|
24-TRSAD-008 |
AGSR000173 |
1 |
2 |
1 |
0.05 |
|
24-TRSAD-008 |
AGSR000174 |
2 |
3 |
1 |
0.05 |
|
24-TRSAD-008 |
AGSR000175 |
3 |
4 |
1 |
0.04 |
|
24-TRSAD-008 |
AGSR000176 |
4 |
5 |
1 |
0.05 |
|
24-TRSAD-008 |
AGSR000177 |
5 |
6 |
1 |
0.05 |
|
24-TRSAD-008 |
AGSR000178 |
6 |
7 |
1 |
0.04 |
|
24-TRSAD-008 |
AGSR000180 |
7 |
8 |
1 |
0.04 |
|
24-TRSAD-008 |
AGSR000181 |
8 |
9 |
1 |
<0,04 |
|
24-TRSAD-008 |
AGSR000182 |
9 |
10 |
1 |
0.04 |
|
24-TRSAD-008 |
AGSR000183 |
10 |
11 |
1 |
<0,04 |
|
24-TRSAD-008 |
AGSR000184 |
11 |
12 |
1 |
<0,04 |
|
24-TRSAD-008 |
AGSR000186 |
12 |
13 |
1 |
<0,04 |
|
24-TRSAD-008 |
AGSR000187 |
13 |
14 |
1 |
<0,04 |
|
24-TRSAD-008 |
AGSR000188 |
14 |
15 |
1 |
<0,04 |
|
24-TRSAD-009 |
AGSR000189 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-009 |
AGSR000190 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-009 |
AGSR000191 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-009 |
AGSR000192 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-009 |
AGSR000193 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-009 |
AGSR000194 |
5 |
6 |
1 |
<0,04 |
|
24-TRSAD-009 |
AGSR000195 |
6 |
7 |
1 |
<0,04 |
|
24-TRSAD-010 |
AGSR000230 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-010 |
AGSR000231 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-010 |
AGSR000232 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-010 |
AGSR000233 |
3 |
3.5 |
0.5 |
0.07 |
|
24-TRSAD-011 |
AGSR000223 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-011 |
AGSR000224 |
1 |
2 |
1 |
0.08 |
|
24-TRSAD-011 |
AGSR000225 |
2 |
3 |
1 |
0.05 |
|
24-TRSAD-011 |
AGSR000226 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-011 |
AGSR000227 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-011 |
AGSR000228 |
5 |
6 |
1 |
<0,04 |
|
24-TRSAD-011 |
AGSR000229 |
6 |
6.9 |
0.9 |
0.07 |
|
24-TRSAD-012 |
AGSR000196 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-012 |
AGSR000197 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-012 |
AGSR000198 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-012 |
AGSR000199 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-012 |
AGSR000200 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-012 |
AGSR000201 |
5 |
6 |
1 |
<0,04 |
|
24-TRSAD-012 |
AGSR000202 |
6 |
7 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000203 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000204 |
1 |
2 |
1 |
0.05 |
|
24-TRSAD-013 |
AGSR000205 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000206 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000207 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000208 |
5 |
6 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000209 |
6 |
7 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000210 |
7 |
8 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000211 |
8 |
9 |
1 |
<0,04 |
|
24-TRSAD-013 |
AGSR000212 |
9 |
9.6 |
0.6 |
<0,04 |
|
24-TRSAD-014 |
AGSR000213 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-014 |
AGSR000214 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-014 |
AGSR000215 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-014 |
AGSR000216 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-014 |
AGSR000217 |
4 |
5 |
1 |
0.07 |
|
24-TRSAD-014 |
AGSR000218 |
5 |
6 |
1 |
0.04 |
|
24-TRSAD-014 |
AGSR000219 |
6 |
7 |
1 |
<0,04 |
|
24-TRSAD-014 |
AGSR000220 |
7 |
8 |
1 |
<0,04 |
|
24-TRSAD-014 |
AGSR000221 |
8 |
9 |
1 |
<0,04 |
|
24-TRSAD-014 |
AGSR000222 |
9 |
9.8 |
0.8 |
<0,04 |
|
24-TRSAD-015 |
AGSR000234 |
0 |
1 |
1 |
0.10 |
|
24-TRSAD-015 |
AGSR000235 |
1 |
2 |
1 |
0.08 |
|
24-TRSAD-015 |
AGSR000236 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-015 |
AGSR000237 |
3 |
4 |
1 |
0.05 |
|
24-TRSAD-015 |
AGSR000238 |
4 |
5 |
1 |
0.05 |
|
24-TRSAD-015 |
AGSR000239 |
5 |
6 |
1 |
0.04 |
|
24-TRSAD-015 |
AGSR000240 |
6 |
7 |
1 |
0.25 |
|
24-TRSAD-015 |
AGSR000241 |
7 |
8 |
1 |
<0,04 |
|
24-TRSAD-015 |
AGSR000242 |
8 |
8.8 |
0.8 |
<0,04 |
|
24-TRSAD-016 |
AGSR000247 |
0 |
1 |
1 |
0.06 |
|
24-TRSAD-016 |
AGSR000248 |
1 |
2 |
1 |
0.04 |
|
24-TRSAD-016 |
AGSR000249 |
2 |
3 |
1 |
0.04 |
|
24-TRSAD-016 |
AGSR000250 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-016 |
AGSR000251 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-016 |
AGSR000252 |
5 |
6 |
1 |
0.04 |
|
24-TRSAD-016 |
AGSR000253 |
6 |
7 |
1 |
0.58 |
|
24-TRSAD-016 |
AGSR000254 |
7 |
8 |
1 |
0.51 |
|
24-TRSAD-016 |
AGSR000255 |
8 |
9 |
1 |
0.07 |
|
24-TRSAD-016 |
AGSR000256 |
9 |
10 |
1 |
0.04 |
|
24-TRSAD-016 |
AGSR000258 |
10 |
11 |
1 |
0.05 |
|
24-TRSAD-016 |
AGSR000259 |
11 |
12 |
1 |
<0,04 |
|
24-TRSAD-017 |
AGSR000260 |
0 |
1 |
1 |
0.19 |
|
24-TRSAD-017 |
AGSR000261 |
1 |
2 |
1 |
0.05 |
|
24-TRSAD-017 |
AGSR000262 |
2 |
3 |
1 |
0.04 |
|
24-TRSAD-017 |
AGSR000263 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-017 |
AGSR000264 |
4 |
5 |
1 |
0.05 |
|
24-TRSAD-017 |
AGSR000265 |
5 |
6 |
1 |
0.05 |
|
24-TRSAD-017 |
AGSR000266 |
6 |
7 |
1 |
<0,04 |
|
24-TRSAD-018 |
AGSR000267 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-018 |
AGSR000268 |
1 |
2 |
1 |
0.05 |
|
24-TRSAD-018 |
AGSR000269 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-019 |
AGSR000270 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-019 |
AGSR000271 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-019 |
AGSR000272 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-019 |
AGSR000274 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-020 |
AGSR000275 |
0 |
1 |
1 |
0.05 |
|
24-TRSAD-020 |
AGSR000276 |
1 |
2 |
1 |
0.07 |
|
24-TRSAD-020 |
AGSR000277 |
2 |
3 |
1 |
0.15 |
|
24-TRSAD-020 |
AGSR000278 |
3 |
4 |
1 |
0.08 |
|
24-TRSAD-020 |
AGSR000279 |
4 |
4.1 |
0.1 |
0.05 |
|
24-TRSAD-021 |
AGSR000280 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-021 |
AGSR000281 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-021 |
AGSR000282 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-021 |
AGSR000284 |
3 |
3.5 |
0.5 |
<0,04 |
|
24-TRSAD-022 |
AGSR000285 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-022 |
AGSR000286 |
1 |
2 |
1 |
<0,04 |
|
24-TRSAD-022 |
AGSR000287 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-022 |
AGSR000288 |
3 |
4 |
1 |
0.07 |
|
24-TRSAD-022 |
AGSR000289 |
4 |
5 |
1 |
0.06 |
|
24-TRSAD-022 |
AGSR000290 |
5 |
6 |
1 |
<0,04 |
|
24-TRSAD-023 |
AGSR000297 |
0 |
1 |
1 |
<0,04 |
|
24-TRSAD-023 |
AGSR000298 |
1 |
2 |
1 |
0.05 |
|
24-TRSAD-023 |
AGSR000299 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-023 |
AGSR000300 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-023 |
AGSR000301 |
4 |
5 |
1 |
<0,04 |
|
24-TRSAD-023 |
AGSR000302 |
5 |
6 |
1 |
0.05 |
|
24-TRSAD-023 |
AGSR000303 |
6 |
7 |
1 |
<0,04 |
|
24-TRSAD-023 |
AGSR000304 |
7 |
8 |
1 |
0.03 |
|
24-TRSAD-023 |
AGSR000306 |
8 |
9 |
1 |
<0,04 |
|
24-TRSAD-023 |
AGSR000307 |
9 |
10 |
1 |
<0,04 |
|
24-TRSAD-024 |
AGSR000291 |
0 |
1 |
1 |
0.08 |
|
24-TRSAD-024 |
AGSR000292 |
1 |
2 |
1 |
0.04 |
|
24-TRSAD-024 |
AGSR000293 |
2 |
3 |
1 |
<0,04 |
|
24-TRSAD-024 |
AGSR000295 |
3 |
4 |
1 |
<0,04 |
|
24-TRSAD-024 |
AGSR000296 |
4 |
4.5 |
0.5 |
0.10 |
Matilda Drill Results 2023 drilling
campaign
|
HOLE_ID |
EAST (UTM SAD69) |
NORTH (UTM SAD69) |
RL |
DEPTH (m) |
DIP/Azm (°/°UTM) |
Obs |
From |
To |
Interval (m) |
True Intersect Lenght (m) |
Copper Grade (Cu %) |
Gold Grade (Au g / t) |
|
Previously reported drilling assay results |
|
23-MT-001 |
609314 |
9291988 |
292 |
548.8 |
60 / 180 |
|
122.6 |
133.15 |
10.55 |
5.28 |
0.37 |
0.12 |
|
|
|
|
|
|
|
and |
148.25 |
179.5 |
31.25 |
15.63 |
0.21 |
0.06 |
|
23-MT-002 |
609004 |
9291497 |
265 |
359.37 |
60 / 000. |
|
|
|
|
|
NSI |
NSI |
|
23-MT-003 |
608289 |
9291882 |
237 |
149.44 |
60 / 000 |
|
|
|
|
|
NSI |
NSI |
|
23-MT-004 |
609332 |
9292162 |
237 |
398.58 |
60 / 180 |
|
29.85 |
165.05 |
135.2 |
67.60 |
0.33 |
0.09 |
|
|
|
|
|
|
|
and |
217 |
305 |
88 |
44.00 |
0.36 |
0.09 |
|
23-MT-005 |
609002 |
9291696 |
299 |
404.69 |
60 / 000. |
|
43 |
60 |
17 |
8.50 |
0.23 |
0.08 |
|
23-MT-006 |
609332 |
9292162 |
261 |
443.49 |
60 / 000 |
|
31.65 |
143 |
111.35 |
55.68 |
0.20 |
0.05 |
|
|
|
|
|
|
|
and |
183.2 |
216.9 |
33.7 |
16.85 |
0.33 |
0.07 |
|
23-MT-007 |
608978 |
9292372 |
283 |
350.91 |
60 / 180 |
|
22 |
68 |
46 |
23.00 |
0.20 |
0.06 |
|
23-MT-008 |
608626 |
9289542 |
267 |
398.62 |
60 / 000 |
|
|
|
|
|
NSI |
NSI |
|
23-MT-009 |
608598 |
9289763 |
249 |
150.46 |
60 / 180 |
|
|
|
|
|
NSI |
NSI |
|
23-MT-010 |
609313 |
9292614 |
242 |
404.78 |
60 / 180 |
|
95.55 |
117 |
21.45 |
10.73 |
0.40 |
0.11 |
|
|
|
|
|
|
|
and |
215 |
233 |
18 |
9.00 |
0.38 |
0.03 |
|
23-MT-011 |
609025 |
9292819 |
232 |
426.01 |
60 / 180 |
|
238 |
248 |
10 |
5.00 |
0.37 |
0.14 |
|
23-MT-012 |
609039 |
9292648 |
263 |
401.89 |
60 / 180 |
|
104 |
148 |
44 |
22.00 |
0.22 |
0.06 |
|
|
|
|
|
|
|
and |
192 |
202 |
10 |
5.00 |
0.29 |
0.15 |
|
23-MT-013 |
609000 |
9291920 |
299 |
410.58 |
60 / 000 |
|
|
|
|
|
NSI |
NSI |
|
23-MT-014 |
609002 |
9291295 |
233 |
434.13 |
60 / 000. |
|
|
|
|
|
NSI |
NSI |
|
23-MT-015 |
609267 |
9292080 |
282 |
150.21 |
45 / 000. |
|
41 |
150 |
109 |
77.07 |
0.25 |
0.07 |
|
23-MT-016 |
609267 |
9292080 |
282 |
219.97 |
60 / 000 |
|
30 |
40 |
10 |
5.00 |
0.26 |
0.06 |
|
|
|
|
|
|
|
and |
52 |
62 |
10 |
5.00 |
0.23 |
0.06 |
|
|
|
|
|
|
|
and |
78 |
204 |
126 |
63.00 |
0.30 |
0.09 |
|
23-MT-017 |
609367 |
9292065 |
280 |
142.84 |
45 / 000 |
|
102 |
122 |
20 |
14.14 |
0.35 |
0.09 |
|
23-MT-018 |
609667 |
9291960 |
267 |
395.02 |
60 / 000 |
|
26 |
50 |
24 |
12.00 |
0.27 |
0.08 |
|
|
|
|
|
|
|
and |
230 |
252 |
22 |
11.00 |
0.22 |
0.06 |
|
23-MT-019 |
609367 |
9292065 |
280 |
229.43 |
60 / 000 |
|
149 |
179 |
30 |
15.00 |
0.32 |
0.08 |
|
23-MT-020 |
609002 |
9291295 |
233 |
550.22 |
70 / 180 |
|
|
|
|
|
NSI |
NSI |
|
New drilling assay results |
|
23-MT-021 |
609303 |
9292320 |
252 |
627.77 |
65 / 180. |
|
24 |
42 |
18 |
7.61 |
0.26 |
0.04 |
|
|
|
|
|
|
|
and |
122 |
178 |
56 |
23.67 |
0.26 |
0.06 |
|
|
|
|
|
|
|
and |
228 |
372 |
144 |
60.86 |
0.26 |
0.06 |
|
|
|
|
|
|
|
incl |
242 |
260 |
18 |
7.61 |
0.47 |
0.07 |
|
|
|
|
|
|
|
incl |
352 |
370 |
18 |
7.61 |
0.46 |
0.10 |
|
|
|
|
|
|
|
and |
396 |
442 |
46 |
19.44 |
0.35 |
0.09 |
|
|
|
|
|
|
|
incl |
410 |
442 |
32 |
13.52 |
0.40 |
0.10 |
|
|
|
|
|
|
|
and |
468 |
486 |
18 |
7.61 |
0.22 |
0.04 |
|
Reported intercepts calculated based on a minimum weighted average
grade using a minimum mineralisation width of 10 m, lower cut of
0.15% Cu and a maximum internal waste interval of 15 m. Analyses
were performed by ALS Laboratories a Certified geochemical
laboratory. * Note: Geometries of the mineralisation model, and
changes to the minimum mineralisation width and internal wate
parameters used for 3D modelling has generated differences in the
results presented in the previous press release “Matilda Copper
Project – exploration update from September 7th 2023” due to the
new results received, geological knowledge acquire and modelling
applied. All results are correct based on the parameters used and
geological knowledge at the time. |
|
NSI – No Significant Intersection. |
GLOSSARY OF TERMS
The following is a glossary of technical
terms:
|
“actinolite” |
amphibole silicate mineral commonly found in metamorphic rocks,
including those surrounding cooled intrusive igneous rocks |
|
“Ag” |
means silver. |
|
“alkalic porphyry” |
A class of copper-porphyry mineral deposits characterised by
disseminated mineralisation within and immediately adjacent to
silica-saturated to silica-undersaturated alkalic intrusive centres
and being copper/gold/molybdenum-rich. |
|
“albite” |
is a plagioclase feldspar mineral |
|
“aplite” |
An intrusive igneous rock in which the mineral composition is the
same as granite, but in which the grains are much finer |
|
“argillic alteration” |
is hydrothermal alteration of wall rock which introduces clay
minerals including kaolinite, smectite and illite |
|
“Au” |
means gold. |
|
“assay” |
in economic geology, means to analyse the proportions of metal in a
rock or overburden sample; to test an ore or mineral for
composition, purity, weight, or other properties of commercial
interest. |
|
“biotite” |
A phyllosilicate mineral composed of a silicate of iron,
magnesium, potassium, and aluminum found in crystalline rocks and
as an alteration mineral. |
|
“breccia” |
a rock composed of large angular broken fragments of minerals or
rocks cemented together by a fine-grained matrix |
|
“brecciation” |
Describes the process where large angular broken fragments of
minerals or rocks become cemented together by a fine-grained
matrix. |
|
“CIM” |
means the Canadian Institute of Mining, Metallurgy and
Petroleum. |
|
“chalcopyrite” |
is a sulphide of copper and iron. |
|
“copper porphyry” |
copper ore body formed from hydrothermal fluids. These fluids will
be predated by or associated with are vertical dykes of porphry
intrusive rocks |
|
“Cu” |
means copper. |
|
“cut-off grade” |
the lowest grade of mineralised material that qualifies as ore in
each deposit; rock of the lowest assay included in an ore
estimate. |
|
“dacite porphyry intrusive” |
a silica-rich igneous rock with larger phenocrysts (crystals)
within a fine-grained matrix |
|
“deposit” |
is a mineralised body which has been physically delineated by
sufficient drilling, trenching, and/or underground work, and found
to contain a sufficient average grade of metal or metals to warrant
further exploration and/or development expenditures; such a deposit
does not qualify as a commercially mineable ore body or as
containing ore reserves, until final legal, technical, and economic
factors have been resolved. |
|
“electromagnetics” |
is a geophysical technique tool measuring the magnetic field
generated by subjecting the sub-surface to electrical
currents. |
|
“epidote” |
is a calcium aluminium iron sorosilicate mineral |
|
“garimpo” |
is a local artisanal mining operation |
|
“garimpeiro” |
is a local artisanal miner. |
|
“geochemical” |
refers to geological information using measurements derived from
chemical analysis. |
|
“geophysical” |
refers to geological information using measurements derived from
the use of magnetic and electrical readings. |
|
“geophysical techniques” |
include the exploration of an area by exploiting differences in
physical properties of different rock types. Geophysical methods
include seismic, magnetic, gravity, induced polarisation and other
techniques; geophysical surveys can be undertaken from the ground
or from the air. |
|
“gossan” |
is an iron-bearing weathered product that overlies a sulphide
deposit. |
|
“grade” |
is the concentration of mineral within the host rock typically
quoted as grams per tonne (g/t), parts per million (ppm) or parts
per billion (ppb). |
|
“g/t” |
means grams per tonne. |
|
“granodiorite” |
is an igneous intrusive rock like granite. |
|
“hectare” or a “ha” |
is a unit of measurement equal to 10,000 square metres. |
|
“hematite” |
is a common iron oxide compound |
|
“igneous” |
is a rock that has solidified from molten material or magma. |
|
“IP” |
refers to induced polarisation, a geophysical technique whereby an
electric current is induced into the sub-surface and the
conductivity of the sub-surface is recorded. |
|
“intrusive” |
is a body of rock that invades older rocks. |
|
“lithocap” |
Lithocaps are subsurface, broadly stratabound alteration domains
that are laterally and vertically extensive. They form when acidic
magmatic-hydrothermal fluids react with wallrocks during ascent
towards the paleosurface. |
|
“mineralisation” |
the concentration of metals and their chemical compounds within a
body of rock. |
|
“mineralised” |
refers to rock which contains minerals e.g. iron, copper,
gold. |
|
“Mo-Bi-As-Te-W-Sn” |
Molybdenum-Bismuth-Arsenic-Tellurium-Tungsten-Tin |
|
“magnetite” |
magnetic mineral composed of iron oxide found in intrusive rocks
and as an alteration mineral. |
|
“monzodiorite” |
Is an intrusive rock formed by slow cooling of underground
magma. |
|
“monzogranite” |
a biotite rich granite, often part of the later-stage emplacement
of a larger granite body. |
|
“mt” |
means million tonnes. |
|
“ore” |
means a metal or mineral or a combination of these of sufficient
value as to quality and quantity to enable it to be mined at a
profit. |
|
“oxides” |
are near surface bed-rock which has been weathered and oxidised by
long term exposure to the effects of water and air. |
|
“paragenesis” |
Is a term used to describe the sequence on relative phases of
origination of igneous and metamorphic rocks and the deposition of
ore minerals and rock alteration. |
|
“ppm” |
means parts per million. |
|
“phyllic alteration” |
is a hydrothermal alteration zone in a permeable rock that has been
affected by circulation of hydrothermal fluids |
|
“porphry” |
any of various granites or igneous rocks with coarse grained
crystals |
|
“proterozoic” |
means the geological eon (period) 2.5 billion years ago to 541
million years ago |
|
“pyrite” |
an iron sulphide mineral |
|
“quartz-alunite ± kaolinite” |
Alunite is a hydroxylated aluminium potassium sulfate mineral. It
presence is typical in areas of advanced argillic alteration and
usually accompanied by the presence of quartz (a crystalline silica
mineral) and sometimes kaolinite.(a clay mineral). |
|
“saprolite” |
is a weathered or decomposed clay-rich rock. |
|
“scapolites” |
are a group of rock-forming silicate minerals composed of
aluminium, calcium, and sodium silicate with chlorine, carbonate
and sulfate |
|
“sulphide” |
refers to minerals consisting of a chemical combination of sulphur
with a metal. |
|
“vein” |
is a generic term to describe an occurrence of mineralised rock
within an area of non-mineralised rock. |
|
“vuggy” |
a geological feature characterised by irregular cavities or holes
within a rock or mineral, often formed by the dissolution or
removal of minerals leaving behind empty spaces |
|
“VTEM” |
refers to versa time domain electromagnetic, a particular variant
of time-domain electromagnetic geophysical survey to prospect for
conductive bodies below surface. |
Assay ResultsAssay results reported within this
release include those provided by the Company's own on-site
laboratory facilities at Palito and have not yet been independently
verified. Serabi closely monitors the performance of its own
facility against results from independent laboratory analysis for
quality control purpose. As a matter of normal practice, the
Company sends duplicate samples derived from a variety of the
Company's activities to accredited laboratory facilities for
independent verification. Since mid-2019, over 10,000 exploration
drill core samples have been assayed at both the Palito laboratory
and certified external laboratory, in most cases the ALS laboratory
in Belo Horizonte, Brazil. When comparing significant assays with
grades exceeding 1 g/t gold, comparison between Palito versus
external results record an average over-estimation by the Palito
laboratory of 6.7% over this period. Based on the results of this
work, the Company's management are satisfied that the Company's own
facility shows sufficiently good correlation with independent
laboratory facilities for exploration drill samples. The Company
would expect that in the preparation of any future independent
Reserve/Resource statement undertaken in compliance with a
recognised standard, the independent authors of such a statement
would not use Palito assay results without sufficient duplicates
from an appropriately certificated laboratory.
Forward-looking statementsCertain statements in
this announcement are, or may be deemed to be, forward looking
statements. Forward looking statements are identified by their use
of terms and phrases such as ‘‘believe’’, ‘‘could’’, “should”
‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘will’’
or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking
statements are not based on historical facts but rather on the
Directors’ current expectations and assumptions regarding the
Company’s future growth, results of operations, performance, future
capital and other expenditures (including the amount, nature and
sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect
the Directors’ current beliefs and assumptions and are based on
information currently available to the Directors. A number of
factors could cause actual results to differ materially from the
results discussed in the forward-looking statements including risks
associated with vulnerability to general economic and business
conditions, competition, environmental and other regulatory
changes, actions by governmental authorities, the availability of
capital markets, reliance on key personnel, uninsured and
underinsured losses and other factors, many of which are beyond the
control of the Company. Although any forward-looking statements
contained in this announcement are based upon what the Directors
believe to be reasonable assumptions, the Company cannot assure
investors that actual results will be consistent with such forward
looking statements.
Qualified Persons StatementThe scientific and
technical information contained within this announcement has been
reviewed and approved by Michael Hodgson, a Director of the
Company. Mr Hodgson is an Economic Geologist by training with over
30 years' experience in the mining industry. He holds a BSc (Hons)
Geology, University of London, a MSc Mining Geology, University of
Leicester and is a Fellow of the Institute of Materials, Minerals
and Mining and a Chartered Engineer of the Engineering Council of
UK, recognizing him as both a Qualified Person for the purposes of
Canadian National Instrument 43-101 and by the AIM Guidance Note on
Mining and Oil & Gas Companies dated June 2009.
Neither the Toronto Stock Exchange, nor any other securities
regulatory authority, has approved or disapproved of the contents
of this news release
- PR Exploration Update April 24
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