Mark Brennan, CEO and Co-Chairman, commented “The ongoing results from our drill program continues to support our positive outlook for the Serra Alta deposit.
The Company’s geological team has completed the update of the high-grade gold estimation domain to be used in the new resource estimate proving extended segments with relevant lateral extent of vein swarms to the east, close to the buried contact of the hosting granodiorite and felsic volcanics.
The first phase of the current drill program at Serra Alta, which began at the end of September 2020 and was completed in May 2021, followed the success of the 2018 drill program which resulted in a NI43-101 compliant resource estimate with an effective date of December 5, 2018 of an inferred resource totaling 813,000 oz of gold contained within 13,639,000 tonnes grading 1.85 g/t Au.
The completed Phase I program consisted of 19,389 metres of drilling; mainly lateral and downdip step-out holes to extend the mineralized domain within the current pit outline and also included infill drilling to upgrade the resource base to the Measured and Indicated resource categories.
The Phase II drill program targets an additional 14,000m of drilling at Serra Alta and other satellites targets including Capitão, Fartura, Ferradura and Sucuri.
Both labs, ALS and SGS, have routine quality control procedures which ensure that every batch of samples includes three sample repeats and at least two commercial standards and two blanks.
Cerrado Gold is a public gold producer and exploration company with gold production derived from its 100% owned Minera Don Nicolás mine in Santa Cruz province, Argentina.