Serabi Gold Reports Mineral Reserves For immediate release
7 March 2022
Serabi Gold plc
(“Serabi” or the “Company”)
Serabi Gold Reports Mineral Reserves and Resources at its Palito Complex as at 31 December 2021
Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, today reported its updated Mineral Reserves and Resources estimate at Palito and Sao Chico as of 31 December 2021.
Highlights
- Total Measured and Indicated Resources of 252,494 ounces and Inferred Resources of 221,929 ounces.
- Total resources maintained at 2020 levels net of mine depletion demonstrating continued success in reserve and resource replenishment.
- Total Proven and Probable Reserves increased to 67,344 ounces from the 2020 level of 61,720 ounces.
- Accelerated mine development and exploration programmes ongoing and is expected to support further resource growth.
Mike Hodgson, CEO of Serabi, commented:
“The Palito Complex has a long history of reserve and resource replenishment and it is pleasing to demonstrate this once again, through this positive reserves and resource update. Our global mineral resources have remained relatively stable and our global mineral reserve has increased by 9% despite mine depletion. To do this against the backdrop of supply chain issues on essential equipment during 2021 post pandemic is commendable.
“2022 promises to be another year of further consolidation as the ongoing supply chain issues diminish. We will be expecting to accelerate our exploration and development activities and further grow the resources throughout the year. The Palito and Sao Chico orebodies remain open along strike, laterally and at depth. We look forward to updating the market with our exploration results throughout the year and are confident these will lead to a growth in both our reserves and resources and demonstrate that the Palito and Sao Chico deposits remain long-life assets.”
Serabi Gold Reports Mineral Reserves and Resources for Palito Complex as at 31 December 2021