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Serabi Gold Plc

Publié le 12 septembre 2011

(UK) - Exploration Update - Piaui Strike Length could now extend to 1,400 metres - Additional Drilli

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Piaui Strike Length could now extend to 1,400 metres

Additional drilling planned at Piaui and Currutela Prospects


Serabi Mining plc (AIM:SRB, TSX:SBI and SBI.WT), the Brazilian focused gold exploration Company, is pleased to provide an update on both the Piaui and Currutela Prospect exploration activities.


A recently completed geophysical Induced Polarization (IP) survey has indicated the possibility that the recent Piaui discovery, which was initially estimated to have a 300 metre strike length could now extend to a strike length of over 1,400 metres.  The same IP survey between the Curretela prospect and the recent Espeto discovery indicates strong geophysical anomalism between the two, a strike length of some 900m.  


Mike Hodgson, Chief Executive, commented:


"We are very pleased by these results. The Piaui drilling to date has rewarded us with some excellent intersections over the initial target strike length of 300 metres, so the potential to extend and test this zone over 1,400 metres is highly encouraging. 


In addition, the obvious potential to explore the 3.5km strike length upon which the Palito Main Zone (PMZ), Espeto and Currutela prospects lies is clearly an exciting proposition.  We now have further indications from preliminary IP data that the mineralised potential extends a further 500 metres east of Currutela, potentially making this fertile mineralised structure over 4.0km in length and remaining open along strike".




The IP survey was carried out to the east of the Piaui Prospect and delineated a 200 metre long chargeable anomaly, 400 metres along strike from the original 2010 Piaui chargeable anomaly.  Initial discovery drilling of this anomaly in March 2011 returned significant intercepts including 1.93 metres @ 22.86g/t Au, 2.5 metres @ 6.22g/t Au, 9.1 metres @ 2.24g/t au, 10.7 metres @ 1.17g/t Au and 4.5 metres @ 2.75g/tAu (as detailed in the Company's news release of 7 April 2011).


This new target has the potential to extend the strike length of the Piaui target by at least a further 1,100 metres.  The newly defined IP target is also coincident with a 300ppb soil geochemistry anomaly and a high priority electromagnetic (EM) anomaly derived from Serabi's 2008 Airborne Geophysical VTEM survey. 


The Company also completed a trench located 250 metres (TC056) to the west of the Piaui mineralisation, which subject to external assaying has intersected anomalous gold bearing laterite material. Follow-up soil auger geochemical sampling is planned around the trench area to ascertain the extent of this geochemical anomalism in the coming months.


The strike length of the potential mineralisation along the Piaui trend from trench TC056 to the eastern extent of the recent IP anomaly indicates a possible mineralised trend of 1,400 metres. 


As a direct result of this newly acquired geophysical and geochemical data, Serabi have extended their current 8,100 metres discovery drill programme adding a further 2,000 metres of drilling with much of this initially focussed on the Piaui mineralised target. On 12 September 2011, a program of 1,700 metres of shallow infill and extension drilling will commence at Piaui to test the central 300 metres strike of the prospect.  A further 500 metres of drilling will also target the new coincident anomaly area along strike to the east.




Serabi is also in the process of continuing  an ongoing IP survey between the  recently drilled Espeto prospect which returned a drill result of 17.06 metres @ 1.17g/t Au (as detailed in the Company's news release dated 15 July 2011) and the Currutela prospect which has returned drill results including 2.14 metres @ 12.92g/t Au, 0.76 metres @ 5.30g/t Au, 1.20 metres @ 6.39g/t Au & 1.03 metres @ 5.10g/t Au (as detailed in the Company's news releases of 13 June 2011 & 11 July 2011). 


Results to date demonstrate that a continuous chargeable zone exists between the two prospects, having a strike length of some 900 metres.  More significantly, the structural modelling supported by drill intercepts, airborne magnetic surveying and this recent induced polarization data suggest the Palito Main Zone (PMZ), Espeto and Currutela prospects can be interpreted as the same structural mineralised zone, which has a strike length of over 3.5 kms when measured from the most westerly end of the Palito mineralisation to Currutela in the east. Once the IP programme is complete, the results will be used to assist the optimisation of a follow up drill programme.



The plan that can be accessed using the link below illustrates the original Piaui IP anomaly, along with the latest IP survey extended to the south east. 







Serabi Mining plc


Michael Hodgson

Tel: +44 (0)20 7246 6830

Chief Executive

Mobile: +44 (0)7799 473621



Clive Line

Tel: +44 (0)20 7246 6830

Finance Director

Mobile: +44 (0)7710 151692



Email: contact@serabimining.com


Website:  www.serabimining.com




Beaumont Cornish Limited

Nominated Adviser


Roland Cornish

Tel: +44 (0)20 7628 3396

Michael Cornish

Tel: +44 (0)20 7628 3396



Fox Davies Capital Ltd

UK Broker


Simon Leathers

Tel: +44 (0)20 3463 5010

Jonathan Evans

Tel: +44 (0)20 3463 5010



Farm Street Communications

Public Relations


Simon Robinson

Tel: +44 (0)7593 340107



Fig House Communications

Investor Relations


Rebecca Greco

Tel: + 1 416 822 6483


Copies of this release are available from the Company's website at www.serabimining.com


Forward-looking statements

This 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.


Quality Assurance and Quality Control Procedures Disclosure


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


Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.






Serabi Gold Plc

CUSIP : 00B074J639
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Serabi Gold est une société de production minière d'or basée au Royaume-Uni.

Serabi Gold détient divers projets d'exploration au Bresil.

Son principal projet en production est PALITO au Bresil et ses principaux projets en exploration sont TAPAJOS - MODELO, JARDIM DO OURO, TAPAJOS - PIZON et PIAUI STRKE LENGTH au Bresil.

Serabi Gold est cotée au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 34,1 milliards GBX (38,3 milliards US$, 34,7 milliards €).

La valeur de son action a atteint son plus bas niveau récent le 31 octobre 2008 à 0,25 GBX, et son plus haut niveau récent le 20 septembre 2019 à 92,80 GBX.

Serabi Gold possède 700 843 570 actions en circulation.

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Présentations des Compagnies de Serabi Gold Plc
01/07/2009- Investor Presentations
24/04/2008Corporate presentation 2008
05/04/2006Corporate presentation
Rapports annuels de Serabi Gold Plc
Notice of AGM and publication of Annual Report and Accounts
Financements de Serabi Gold Plc
30/03/2011 Completion of TSX Listing,C$4.95 million funding and Board ...
28/03/2011- Filing of Final Prospectus, C$4.95 million financing and B...
11/02/2011Filing of Preliminary Prospectus in Canada
Attributions d'options de Serabi Gold Plc
31/05/2011Awards 1.130.000 Options to its directors at C$0.60
28/01/2011Award of 1,455,000 stock options to directors
21/12/2009Award of 13,000,000 new options and cancellation of 6,149,58...
03/12/2007Award of 400,000 stock options
Nominations de Serabi Gold Plc
29/07/2013Serabi Gold plc : Appointment of new Director
17/01/2013Serabi Gold plc : Issue of 270,000,000 Ordinary Shares at 6 ...
04/07/2011(UK) - Appointment of Broker
Rapports Financiers de Serabi Gold Plc
26/07/2017Strong second quarter production consolidating mid-year posi...
13/05/2016Unaudited Interim Financial Results for the three month peri...
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14/08/2013Serabi Gold plc : Interim Results for the 6 months to 30 Jun...
15/05/2012Serabi Gold plc : Financial Results for the First Quarter 20...
17/05/2011- Release of Q1 Financial Results and Managment Discussion a...
21/01/2011 Unaudited financial results for the 9 months ended 30 Septe...
Projets de Serabi Gold Plc
20/04/2016First quarter update on gold operations at Palito and Sao Ch...
05/02/2014Serabi Gold plc - Exploration Results Continue to Reveal Pro...
24/01/2012Serabi Gold plc : Drilling Update - Upgraded Intercepts Enha...
12/09/2011(Piaui Strke Length)(UK) - Exploration Update - Piaui Strike Length could now ex...
11/08/2011(Jardim Do Ouro)(UK) - Exploration Update - New IP geophysical survey underw...
15/07/2011(Palito)(UK) - Drilling result confirms potential structural and min...
11/07/2011(UK) - Drilling update - Positive drill intersections contin...
14/06/2011(Jardim Do Ouro) - Drilling Update - High Grade Gold Intersected at Currutel...
18/02/2011(Palito)- IBAMA cancels US$2.2 million fine
22/02/2011(Palito)- Correction - Geochemical results from Piaui drill target a...
09/04/2010(Palito)Statement re Update on Palito Gold Project
28/01/2010(Palito)Progress Update
09/07/2008(Palito)Ore Reserve and Mineral Resource Update
04/10/2006(Palito)Commercial production at Palito
Communiqués de Presse de Serabi Gold Plc
17/05/2016Award of Share Options
30/03/2016Audited Results for the year ended 31 December 2015
06/01/2016Initial partial draw down of US$5 million convertible loan f...
31/12/2015US$5 million convertible loan facility
31/12/2015Serabi Gold Plc ("Serabi" or the "Company") US$5 million con...
29/10/2015Third quarter 2015 Operational Update
29/10/2015Serabi Gold plc ("Serabi" or the "Company") Third quarter up...
14/08/2015Financial Results for Second Quarter 2015 and Management’s D...
14/08/2015Serabi Gold plc ("Serabi" or the "Company") Unaudited Interi...
11/08/2015Serabi Gold Plc ("Serabi" or the "Company") Voting results f...
30/07/2015Cancellation of Share Premium Account and Deferred Shares
30/07/2015Serabi Gold plc ("Serabi" or the "Company") Cancellation of ...
28/07/2015Serabi Gold plc ("Serabi" or the "Company") Second quarter u...
31/03/2015Audited Results for the year ended 31 December 2014
31/03/2015Serabi Gold plc ("Serabi" or the "Company") Audited Results ...
28/01/2015Assay result of 42 g/t over 3.6 metres from Main Vein develo...
28/01/2015Serabi Gold plc ("Serabi" or the "Company") Assay result of ...
23/01/2015Award of Share Options
23/01/2015Serabi Gold plc ("Serabi" or the "Company") Award of Share O...
20/01/2015Serabi Gold plc ("Serabi" or the "Company") Operational upda...
25/11/2014Approval of Final Exploration Report for Sao Chico
12/02/2014Serabi Gold Plc - First Month of Gold Production at Palito G...
23/12/2013Serabi Gold plc : Directorate change
09/12/2013Serabi on schedule to commence commissioning of Palito plant...
08/10/2013Serabi Gold plc : Drilling at Sao Chico returns further exce...
05/09/2013Serabi Gold plc - Palito Operational Update
03/09/2013Serabi Gold plc : New High Grade Zones Discovered at Sao Chi...
08/07/2013Kenai Shareholders Approve Plan of Arrangement with Serabi G...
19/06/2013Serabi Gold plc : AGM Statement
28/03/2013Serabi Gold plc : Audited Results for the year ended 31 Dece...
28/01/2013Serabi Gold plc : Award of Share Options
22/01/2013Serabi Gold plc : Total voting rights
17/01/2013Serabi Gold plc - Operational Update
16/01/2013Serabi Gold plc : Result of General Meeting
18/06/2012Serabi Gold plc : Result of AGM
18/06/2012Serabi Gold plc : AGM Statement
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21/05/2012Serabi Gold plc : Award of Share Options
29/03/2012Serabi Gold plc : Audited results for the year ended 31 Dece...
24/01/2012Serabi Gold plc : Drilling Update - High Grade Intersections...
24/01/2012Serabi Gold plc : Issue of Equity - Proposed Placing
19/12/2011Serabi Gold plc : Directorate change
27/06/2011(UK) - Result of AGM
16/05/2011- Notice of Annual General Meeting and Special Meeting
16/06/2010- Share Issue
16/06/2010- Share Subscription Agreement with Eldorado Gold Corporatio...
31/12/2009Total Voting Rights
21/12/2009Variation in Directors Terms of Employment
10/12/2009- Holding in Company
03/12/2009- Additional Placing
03/12/2009- Result of the Open Offer
01/12/2009- Total voting rights
20/11/2009- Holding(s) in Company
17/11/2009- Announcement of Open Offer
10/11/2009- Update on Placing and Issue of further Ordinary Shares
10/11/2009- Placing of Shares, Convertible Facility and Open Offer
15/10/2009- Holding(s) in Company
23/09/2009- Statement re Share Price Movement
15/09/2009- Holding(s) in Company
18/08/2009- Results of Annual General Meeting
18/08/2009- AGM Statement
30/07/2009- 2nd Quarter Investor Update
26/06/2009- Holding(s) in Company
09/03/2009- Holding in Company
27/02/2009- Change of Nomad and Broker
24/02/2009- Holding in Company
23/02/2009- Update on Corporate Events
28/01/2009- Result of General Meeting of Shareholders
02/01/2009- Circular re Proposed Capital Reorganisation
08/12/2008- Update on Strategic Review
04/11/2008- Rule 2.10 Announcement : CORRECTION
04/11/2008- Section 2.10 Announcement
03/11/2008- Announcement re: preliminary approaches
22/09/2008- Holding(s) in Company
30/07/2008- 2nd Quarter Investor Update
23/04/2008 1st Quarter Results - correction
14/01/2008Discovery of new mineralisation close to the Palito gold min...
23/11/2007Director/PDMR Shareholding
25/10/20073rd Quarter Results
14/09/2007Notification of Shareholding
11/09/2007 Exploration Release
26/07/20072nd Quarter Results
05/06/2007Exploration results indicate new mining potential at Palito
01/06/2007AGM Statement
17/05/2007Holding(s) in Company
11/04/2007Mining Final Results
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