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Serabi Gold Ord Shs T.SBI

Alternate Symbol(s):  SRBIF

Serabi Gold plc is a United Kingdom-based gold mining and development company. The Company is focused on conducting gold mining and exploration in Brazil. It operates the Palito Mining Complex and the Coringa Project, in the Tapajos region of the State of Para. The Palito Mining Complex is formed by approximately 64,707 hectares (ha) of tenements, including 1,150 ha of mining concession. In addition, there are 2,877 ha in mineral exploitation applications, 41,588 ha in mineral exploration licenses, 15,896 ha in three extension requests for exploration licenses and two applications for exploration comprising over 3,196 ha. Palito Mining Complex consists of the Palito and Sao Chico gold deposits in Para State in central north Brazil. Its Coringa Gold Project is located approximately 200 kilometers (km) south of Palito and 70km southeast of the city of Novo Progresso in the State of Para. Its five zones of vein mineralization include Valdette, Galena, Mae de Leite, Meio and Come Quieto.


TSX:SBI - Post by User

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Post by deepfried1on Oct 24, 2013 4:35pm
164 Views
Post# 21846832

facts

factsThey hav been stockpiling while waiting for their mining license and mill to be completed - they should be close to that and we should hear something soon.


High–grade gold intersections (including 114.74 g/t and 175.19 g/t) confirm a consistent high grade zone within the Main Vein.
Strike length of Main Vein has now more than doubled.
Structural continuity now confirmed over 350 metres.
Potential for further significant strike and depth extension remains, particularly to the  west. "Meanwhile Palito, our main asset continues to move steadily towards production.  Mining is well underway, both ore being produced from stopes and through continuing mine development and a healthy high grade stockpile is being established.  The primary crushing plant is already operational, and rehabilitation of the milling, gravity and flotation sections is proceeding according to plan. We remain confident the plant will be commissioned before year end. Once completed, we can begin to process stockpiled Palito ore and focus on our plans to grow future production".


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