Cerrado Gold Inc. (TSX.V: CERT | OTCQX: CRDOF) has announced additional assay results from its ongoing infill drill programme at the Serra Alta deposit at its Monte do Carmo Project located in Tocantins State, Brazil.
The infill drill programme commenced in Q4 2021 with the aim to upgrade resources into the Measured and Indicated categories, target new satellites, extensional zones, condemn areas of project infrastructure and support the company’s ongoing Feasibility Study.
This phase of drilling is expected to be completed early in Q4, 2022. The company is currently reporting assay results from 21 drill holes, totalling 4,081m completed from April to July 2022. As of August 26, 2022, a total of 130 drill holes, totalling 31,815m have been completed by Cerrado as part of its 2022 programme, including 109 holes at Serra Alta and 21 holes in the company’s satellite exploration areas namely, Gogó de Onça, and Capitao.
Currently, there are five drill rigs on site actively drilling, with three rigs focused on infill and geotechnical programmes and two actively drilling at the Gogó de Onça deposit.
Drill Hole Highlights (All composites are reported as true thickness):
FSA-246
- 42m at 1.88 g/t Au from 145m
- Including 5m at 4.87 g/t Au from 168m
- 18m at 7.21 g/t Au from 482
- Including 4m at 21.43 g/t Au from 492m
FSA-254
- 15m at 3.71 g/t Au from 138m
- Including 2m at 25.68 g/t Au from 140m
FSA-264
- 20m at 3.86 g/t Au from 102m
- Including 3m at 14.07 g/t Au from 107m
- 9m at 7.24 g/t Au from 148m
- Including 1m at 55.30 g/t Au from 150m
FSA-271
- 28m at 2.13 g/t at 13.78 g/t Au from 44m
- 43m at 1.40 g/t Au from 114m
- Including 3m at 7.74 g/t Au from 119m
FSA-252
- 53m at 1.61 g/t Au from 75m
- Including 3m at 9.51 g/t Au from 92m
FSA-262
- 70m at 2.30 g/t Au from 41m
- Including 2m at 20.83 g/t Au from 90m
FSA-266
- 33m at 2.58 g/t Au from 57m
- Including 6m at 10.81 g/t Au from 63m
Mark Brennan, CEO and Co-Chairman commented “We are nearing completion of the Infill drilling campaign at Serra Alta, providing the resource base for the ongoing Feasibility expected to be completed by the end of Q1 2023. As can be seen by the holes reported today, the Serra Alta deposit at Monte do Carmo continues to show itself as a well-endowed gold deposit with plenty of exploration potential.”
The main objective of the 21 infill drill holes reported by Cerrado is to convert inferred blocks within and in proximity, to the current open pit constrained resource estimate into the Indicated category, closing the distance between holes informing blocks in the model. Some of these holes were extended beyond the current resource outline to test prospective extensional areas.
