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Share Price: 69.50

Bid: 68.00

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Change: 0.00 (0.00%)

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Open: 69.50

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Serabi Gold makes good progress in northern Brazil

Tue, 30th Oct 2018 09:20

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold updated the market on its operational and exploration activities from its Palito Complex in the Tapajos region of Para State in northern Brazil on Tuesday, reporting third quarter production of 8,101 ounces of gold, with production for the year to date totalling 26,852 ounces.The AIM-traded firm said it saw the highest level of mined tonnage for the year during the quarter, with a total of 42,725 tonnes at 6.23 grams per tonne of gold.A total of 41,405 tonnes of run of mine ore was processed through the plant from the combined Palito and Sao Chico orebodies, with an average grade of 6.11 g/t of gold - a 9% improvement in throughput rates compared with the second quarter.The company said an additional 6,825 tonnes of historical tailings were processed through the leaching circuit at a grade of 3.5 g/t of gold.It also reported the highest quarterly total of horizontal mine development in 2018, with 2,814 metres completed.On the exploration and development front, the firm completed a 4,343 line kilometre airborne HeliTEM electromagnetic (EM) and magnetic survey.It also reported the completion of 80 line kilometres of a terrestrial induced polarisation (IP) geophysical survey.A total of 4,237 metres of surface exploration drilling was completed over the Sao Chico deposit, which successfully intersected the strike extension of the Sao Chico orebody up to 300 metres west of the current mine limit.The firm also reported 1,520 metres of surface drilling at the Palito deposit, targeting the north extension of the main G3 vein, with the most significant intersection recording 19 g/t of gold over a width of 0.55 metres.Serabi began surface drilling at Coringa during the period, in preparation for a new mineral resource update to be issued in the first quarter of 2019.It also confirmed the start-up of portal development and underground access at Coringa."This third quarter has been very encouraging," said chief executive officer Mike Hodgson."We have had some excellent exploration success at Sao Chico and Palito, completed the excavation of the mine portal at the recently acquired Coringa project, and enjoyed a solid third quarter of production from our Palito Complex mining operations, with 8,101 ounces of gold produced and total gold production for the year to date totalling 26,852 ounces."Hodgson said the exploration results to date had been "excellent", and that - alongside steady gold production - meant that the company had another positive quarter."With the rigs turning at Sao Chico and Coringa, and the imminent results from our airborne geophysics survey I anticipate that Serabi will continue to make significant progress and I look forward to providing further updates in the coming months."

More News

14 Oct 2019 09:06

Serabi Gold Production Up In Third Quarter, Narrows Annual Guidance

15 May 2019 15:00

Serabi Gold sees EBITDA surge in first quarter

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold reported a 47% improvement in its EBITDA for its first quarter on Wednesday, to $4.3m.

15 Apr 2019 15:23

Serabi Gold sees improved production in first quarter

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold reported first quarter gold production of 10,164 ounces on Monday, up from 9,188 ounces year-on-year and maintaining the momentum from the end of 2018.

13 Feb 2019 14:00

Serabi Gold starts year on a strong note

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold updated the market on its operations and projects in Brazil on Wednesday, reporting January gold production of 3,671 ounces, in line with its previous guidance.

12 Feb 2019 09:10

Serabi Gold employee dies after accident at Brazilian mine

(Sharecast News) - Mining outfit Serabi Gold revealed that an employee at its Palito gold mine in Brazil had died following an accident at the site.

30 Jan 2019 10:30

Serabi Gold upbeat on outcome of recent drilling

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold announced on Wednesday that exploration drilling conducted on its wholly-owned Coringa gold project returned multiple high-grade gold intersections on the Serra, Meio and Galena ore zones of the deposit.

17 Jan 2019 09:48

Serabi Gold ends year on high with record quarterly production

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold released the results and a review of its fourth quarter operational and exploration activities in the Tapajos region of Para State in northern Brazil on Thursday, reporting fourth quarter gold production of 10,256 ounces of gold.

28 Nov 2018 15:53

Serabi Gold excited by survey results at Sao Chico

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold announced the completion of a terrestrial induced polarisation (IP) geophysical survey on Wednesday, covering the strike extent of the Sao Chico structural corridor, with a number of "significant" chargeability anomalies identified.

20 Sep 2018 10:51

Serabi Gold appoints Roney Almeida to new COO position

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold announced the appointment of Roney Almeida to the newly-established position of chief operating officer on Thursday.

23 Jul 2018 15:04

Serabi Gold pleased with second quarter progress

(Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold reported gold production of 9,563 ounces for the second quarter of 2018 at its Palito Complex high grade gold operation in the Tapajos region of Para State, Northern Brazil on Monday.

20 Jun 2018 10:21

Serabi Gold Reports Fatal Accident At Sao Chico Mine In Brazil

LONDON (Alliance News) - Serabi Gold PLC on Wednesday reported a fatality at its Sao Chico Mine in Brazil in a mining-related accident.The gold exploration company said the fatality the of

23 Jan 2017 08:55

Serabi Gold Beats 2016 Production Guidance Despite Dip In 4th Quarter

14 Nov 2016 12:36

Serabi Gold third quarter revenue almost doubles

(ShareCast News) - Brazil-focused gold mining and development company Serabi Gold reported record gold production for the third quarter of 2016, and cash costs of production for the year to date of $772 per ounce on Monday. The AIM and TSX traded firm reported revenue of $16.21m for the three months

17 Oct 2016 12:27

Serabi Gold reaches record Q3 production at Brazil mines

(ShareCast News) - AIM-listed miner Serabi Gold reached record production for the third quarter at its two Brazil mines. The Palito and Sao Chico gold mines in Para State, northern Brazil reported a record quarterly gold production of 10,233 ounces for the third quarter, up from 9,896 ounces in the

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