Cerrado Gold Inc. (TSXV: CERT | OTCQX: CRDOF) has unveiled further assay results from its ongoing infill drill programme at the Serra Alta deposit at its Monte do Carmo Project, located in Tocantins State, Brazil.
Drill Hole highlights from the latest results include hole FSA-241 – 71m at 2.50 g/t Au from 113m, including 6.5m at 17.28 g/t Au from 119m; and hole FSA-249 – 25m at 3.23 g/t Au from 55m, including 2m at 19.76 g/t Au from 78m.
The company’s infill drill programme kicked off in Q4 2021, with the aim to upgrade the resources into “measured” and “indicated” categories to support the ongoing feasibility study.
Cerrado Gold has reported results from 18 drill holes, totalling 3,809m completed from April to June 2022. As of 2 August 2022, 117 drill holes, totalling 28,864m, have been completed as part of the 2022 programme. Total completed holes include 102 holes at Serra Alta (infill, condemnation, and partial extensions); and 15 holes in the satellite exploration areas namely, Gogó de Onça and Capitão.
Mark Brennan, Cerrado Gold’s CEO and co-chairman, said the 2022 development programme is on track to deliver the feasibility study during Q1 2023.
“As we near completion of our infill drilling campaign we are now confident that we will deliver a solid upgraded resource at Serra Alta, which will provide a base for the ongoing feasibility due to be completed during Q1 2023.
“In addition, the ongoing regional drilling and other exploration activities continues to highlight the strong potential to grow the total resources on the Monte do Carmo property,” he added.
The company currently has five drill rigs on site actively drilling, with four rigs focused on infill and one actively drilling at Gogó de Onça.
Mr Brennan also noted that main objective of the 18 infill drill holes is to convert inferred blocks within the current open pit constrained resource estimate (Micon, 2021) into the “indicated” category, closing the distance between holes informing blocks in the model.
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