Serabi Gold (LON:SRB, SBI.TO) has announced in January it has identified and encountered the main vein at its Sao Chico gold project in Brazil during its underground development activities. Samples were sent to the (in-house) lab and the result is quite stunning with 42 g/t gold over a true width of 3.6 meters. The resource estimate already had a high average grade of close to one ounce of gold per tonne of rock, but it’s obviously fantastic to find a wider-than expected mineralized width at a grade of 1.35 ounces per tonne.
Serabi will continue its underground development work and plans to complete 750 meters of ramp development and 2,700 meters of ore development this year.
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Disclosure: The author holds no position in Serabi Gold. Please see our disclaimer for current positions.
