PRESS RELEASE 24 JANUARY 2012
SERABI GOLD plc ("Serabi" or "the Company")
Upgraded Intercepts Enhance the Piaui Prospect
Serabi Gold plc (AIM:SRB, TSX:SBI and SBI.WT), the Brazilian focused gold exploration Company, is pleased to announce final independent laboratory analytical results from the shallow infill and extensional drilling programme at the Piaui Prospect at their 100% owned Jardim do Ouro project.
Final analyses of previously reported preliminary results tabled below show a higher reported gold grade on average of
14.9%. This upgrading in tenor is a result of the analytical techniques used. Preliminary onsite results were completed via an
aqua regia digest analytical technique whereas the independent laboratory ALS Minerals of Vancouver has reported results derived from a 30gm fire assay.
Mike Hodgson, Chief Executive, commented:
"With no historical artisanal workings, Piaui is a discovery which has resulted directly from our aerial geophysical programme. Previously announced geochemical and drilling results over a 300m strike length indicated good grades at shallow depths including results of 1.93 metres @ 22.86g/t Au, 10.7 metres @ 1.17 g/t Au, 9.1 metres @ 2.24 g/t Au, 3.2 metres @ 16.16 g/t Au and 4.5 meters @ 2.75 g/t Au, and highlighted the possibility of wider intersections than we have encountered at Palito. The 16% upgrade of the preliminary results from our latest drill programme, covering a cumulative strike length of
700m has enhanced the potential of Piaui Prospect. We continue to investigate the near surface ore potential at Piaui, through an Auger drilling programme, which has to date brought some further encouraging results".
This last round of diamond drilling followed the successful Phase 1 discovery results, as well as the ground-based geophysical Induced Polarisation (IP) survey undertaken (as reported in the Company's announcement of 12 September 2011). The IP survey had indicated a potential strike length of the Piaui Prospect up to 1,400 metres. The drilling has intersected broad zones of intense chlorite/silica/sulphide alteration over a cumulative strike length of 700m. The results indicate a significant mineralized system remaining open at depth.
Significant results illustrating the preliminary Palito and confirmed ALS results returned to date include:
Hole | East | North | RL | Hole Depth | Dip/Azm | From | To | Width | Au (Palito) | Au (ALS) |
(UTM) | (UTM) | (UTM) | (m) | (m) | (m) | (m) | g/t | g/t | ||
PDD0497 | 633246 | 9300573 | 235.66 | 191.05 | -52/211 | 51.50 | 52.00 | 0.50 | 0.94 | 1.17 |
66.69 | 67.22 | 0.53 | 1.14 | 1.38 | ||||||
PDD0498 | 633900 | 9300105 | 204.55 | 111.70 | -50/210 | 40.98 | 41.70 | 0.72 | 3.63 | 4.17 |
49.66 | 50.57 | 0.91 | 3.05 | 3.22 | ||||||
PDD0499 | 633142 | 9300633 | 242.22 | 188.20 | -50/212 | 110.57 | 115.78 | 5.21 | 3.25 | 3.73 |
including | 110.57 | 111.56 | 0.99 | 4.13 | 4.84 | |||||
including | 114.54 | 115.78 | 1.24 | 8.81 | 10.03 | |||||
130.88 | 131.93 | 1.04 | 0.63 | 0.77 | ||||||
PDD0500 | 633072 | 9300673 | 243.06 | 97.90 | -48/30 | 50.96 | 51.75 | 0.79 | 0.74 | 0.84 |
PDD0501 | 633072 | 9300673 | 243.16 | 99.45 | -51/213 | 44.94 | 45.75 | 0.81 | 1.35 | 1.41 |
69.04 | 69.54 | 0.50 | 0.80 | 0.90 | ||||||
PDD0504 | 632998 | 9300624 | 240.75 | 95.05 | -50/213 | 45.14 | 45.90 | 0.76 | 2.17 | 2.65 |
70.94 | 71.44 | 0.50 | 2.16 | 2.54 | ||||||
PDD0505 | 633032 | 9300604 | 228.22 | 95.55 | -50/213 | 36.61 | 37.39 | 0.78 | 0.85 | 0.80 |
57.85 | 60.79 | 2.94 | 0.58 | 0.65 | ||||||
62.61 | 64.30 | 1.69 | 0.50 | 0.56 | ||||||
PDD0506 | 633067 | 9300584 | 228.33 | 94.40 | -49/216 | 12.05 | 13.10 | 1.05 | 0.60 | 0.68 |
40.57 | 41.44 | 0.87 | 2.48 | 3.09 |
PRESS RELEASE 24 JANUARY 2012
SERABI GOLD plc ("Serabi" or "the Company")
Note: (1) Reported intercepts are calculated based on a minimum weighted average grade of 0.5g/t Au using a 0.5g/t Au weighted average lower cut and a maximum internal waste interval of 1.2m based on ALS reported analyses. All assays completed by ALS used a 30gm Fire Assay charge with an AAS analysis. Where initial Au results exceed 10g/t, analysis is done with a gravimetric charge. All assays completed by Serabi's on-site laboratory used a 30gm DIBK aqua regia digest with an AAS analysis. Serabi's on-site laboratory is not certificated for analysis (please refer to the footnote at the end of this release for further details).(2) This sample was recovered from weathered near surface (saprolite) material. Saprolite samples are not submitted for independent analysis.
Enquiries
SERABI GOLD plc
Michael 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
e contact@serabigold.com www.serabigold.com
BEAUMONT CORNISH Limited
Nominated AdviserRoland Cornish t +44 (0)20 7628 3396
Michael Cornish t +44 (0)20 7628 3396
FOX DAVIES CAPITAL Ltd
UK BrokerSimon Leathers t +44 (0)20 3463 5010
Jonathan Evans t +44 (0)20 3463 5010
Copies of this release are available from the Company's website at www.serabigold.com
SERABI GOLD PLC2nd Floor, 30-32 Ludgate Hill, London EC4M 7DR This document is not intended to and does t +44 (0)20 7246 6830 f +44 (0)20 7246 6831 e contact@serabimining.com www.serabigold.com not amount to an invitation or inducement to Registered Office 66 Lincoln's Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
PRESS RELEASE 24 JANUARY 2012
SERABI GOLD plc ("Serabi" or "the Company")
Forward-looking statementsThis press release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as "anticipate", "believe", "plan", may", "could", "would", "might" or "will", "estimates", "expect", "intend", "budget", "scheduled", "forecasts" and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of gold and other risks identified in the Company's most recent annual information form filed with the Canadian securities regulatory authorities on SEDAR.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward- looking statement.
Qualified Persons Statement
The information contained within this announcement has been
reviewed and verified by Michael Hodgson, CEO of the Company.
Mr Hodgson is an Economic Geologist by training with over 25
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. Oil and
Gas Companies dated March 2006.
The Company has implemented and maintains a Serabi quality
assurance/quality control (QA/QC) protocol at its JDO Project
as defined in its "NI 43-101 Technical Report for the Jardim
Do Ouro Project, Para State, Brazil" dated 22 December 2010.
This ensures best
industry practice in sampling and analysis of exploration and
resource definition samples. The insertion of field
duplicates, certified standards and blank samples into the
sample stream form part of the Serabi procedure (these act as
an independent check on contamination, precision and accuracy
in the analytical laboratory).
Assay results are reported once rigorous QAQC procedures have
been approved
The assay results reported in the table within this release
include those provided by the Company's own on-site
laboratory facilities. Serabi closely monitors the
performance of its own facility against results from
independent laboratory analysis for quality control purposes.
In 2008 NCL (Brasil) Ltda, the author of the Company's
independent technical reports produced in compliance with
Canadian National Instrument 43-101 reviewed and compared
over 1,000 sample results of the Palito laboratory against
results obtained by an independent laboratory using fire
assay. They noted that when discarding from the
sample population all results of less than 0.7g/t "the
repeatability improves significantly reaching the generally
accepted limits of variance (90% of the samples with
HARD<20%)".Further details are set out in their report NI
43.101 TECHNICAL REPORT
FOR THE JARDIM DO OURO PROJECT, PARA STATE, BRAZIL dated
December 9,
2010 and available on the Company's website.
During 2011 the Company has continued to monitor the
performance of its own laboratory against results reported by
the Company's independent laboratory and have concluded that
by eliminating from its sample population all results of less
than 0.3 g/t there remains good correlation and for higher
grade gold values the tendency is for the Company's own
results to be under-reported due to the improved gold
recovery that can be obtained using fire assay methods.
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 Preliminary assay
results but would only use assay results reported by an
appropriately certificated laboratory.
Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.
ENDS
SERABI GOLD PLC2nd Floor, 30-32 Ludgate Hill, London EC4M 7DR This document is not intended to and does t +44 (0)20 7246 6830 f +44 (0)20 7246 6831 e contact@serabimining.com www.serabigold.com not amount to an invitation or inducement to Registered Office 66 Lincoln's Inn Fields, London, WC2A 3LH Company Number 5131528 subscribe for shares in Serabi Gold plc
distribué par | Ce noodl a été diffusé par Serabi Gold plc et initialement mise en ligne sur le site http://www.serabigold.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-24 10:57:39 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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