"The 2020 Piaba underground drill program delivered exceptional results, with 96% of the holes intersecting significant gold mineralization. Drilling extended over 3 km of strike of the currently 4 km-long Piaba deposit and tested depths up to 1 km below surface," said
"The Company has planned a
Piaba Drill Highlights1 (Figure 1)
- 5.56 grams per tonne gold ("g/t Au") over 24.0 metres ("m") including 9.85 g/t Au over 11.0 m in D696
- 96.8 g/t Au over 1.0 m in D698
- 4.18 g/t Au over 11.0 m and 6.15 g/t Au over 11.0 m including 55.3 g/t Au over 1.0 m in D708
- 2.58 g/t Au over 19.2 m in D713
- 8.24 g/t Au over 6.0 m and 3.43 g/t Au over 15.0 m in D722
- 3.62 g/t Au over 9.0 m and 4.42 g/t Au over 11.0 m in D730
- 4.35 g/t Au over 37.0 m including 7.16 g/t Au over 10.0 m in D737
- 9.10 g/t Au over 6.0 m in D742
Genipapo Drill Highlights1 (Figure 3)
- 1.43 g/t Au over 25.0 m and 1.41 g/t Au over 90.0 m including 11.0 g/t Au over 4.0 m in P630
- 3.15 g/t Au over 19.0 m including 6.22 g/t Au over 9.0 m in P631
- 1.10 g/t Au over 20.0 m in P638
- 1.63 g/t Au over 17.0 m in P650
- 17.7 g/t Au over 5.0 m in P662
For a complete table of Piaba UG drill results, click here
For a complete table of Genipapo drill results, click here
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1 Core lengths not corrected to true widths; assays are not capped. |
Piaba Underground Deposit
A total of 23,916 m in 52 holes (Figure 1) were drilled in 2020 to increase confidence in the continuity of mineralization, expand the underground mineral resources and upgrade the classification of the resources from Inferred to Indicated to support completion of the prefeasibility study. Every hole intersected gold mineralization and 47 of the 49 holes, for which assays have been received thus far, intersected significant gold mineralization. The 2020 drill program tested the deposit to depths of 1,000 m below surface and results to date have shown that the deposit remains open at depth (Figure 2).
Figure 1 – Piaba Underground Drilling Highlights
Figure 2 – Piaba Deposit Long Section (looking north)
Genipapo Deposit
Genipapo, located approximately 1 km east northeast of the existing Piaba open-pit mine, is the most advanced of three targets including Micote and
Figure 3 – Genipapo Drilling Highlights
About
Qualified Person and Disclosure Statement
Cautionary Notes and Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information. Forward-looking statements and forward-looking information in this news release relate to, among other things statements regarding planned exploration at Aurizona and the Company's ability to successfully converted Inferred Resources to a higher category; the Company's plans to complete a prefeasibility study for Aurizona; the Company's growth potential, including its ability to increase production or extend the Aurizona mine life; and the Company's ability to successfully advance its exploration, growth and development projects, including its ability to successfully operate an underground mine concurrent with the existing open-pit mine at Aurizona. Forward-looking statements or information generally identified by the use of the words "will", "continue", "expected", "expectations", "potential", "estimate", "further" and similar expressions and phrases or statements that certain actions, events or results "could", "would" or "should", or the negative connotation of such terms, are intended to identify forward-looking statements and information. Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. The Company has based these forward-looking statements and information on the Company's current expectations and projections about future events and these assumptions include: prices for gold remaining as estimated; currency exchange rates remaining as estimated; prices for energy inputs, labour, materials, supplies and services; no labour-related disruptions and no unplanned delays or interruptions in scheduled exploration, construction, development and production, including by blockade; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the Company's ability to comply with environmental, health and safety laws. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Accordingly, readers are cautioned not to put undue reliance on the forward-looking statements or information contained in this news release.
The Company cautions that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements and information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services; fluctuations in currency markets; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); inadequate insurance, or inability to obtain insurance to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; the speculative nature of mineral exploration and development, including the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner or at all; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mining including those imposed in connection with COVID-19; risks relating to expropriation; increased competition in the mining industry; and those factors identified in the Company's MD&A dated
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