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SRB Serabi Gold Plc

63.50
2.50 (4.10%)
Last Updated: 08:32:01
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Serabi Gold Plc LSE:SRB London Ordinary Share GB00BG5NDX91 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.50 4.10% 63.50 63.00 64.00 63.50 61.00 61.00 65,800 08:32:01
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 58.71M -983k -0.0130 -46.92 46.2M

Serabi Gold plc Sao Domingos Exploration Confirms Depth And Strike Continuity Of Mineralisation

08/06/2021 7:00am

UK Regulatory


 
TIDMSRB 
 
 
   For immediate release 
 
   8 June 2021 
 
   Serabi Gold plc 
 
   ("Serabi" or the "Company") 
 
   Sao Domingos Exploration Confirms Depth and Strike Continuity of 
Mineralisation 
 
   Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining 
and development company, is pleased to update the market on exploration 
drilling results from the Toucano Zone at the Sao Domingos project. Sao 
Domingos lies to the west and along strike of Serabi's Sao Chico 
deposit. 
 
   A PDF version of this announcement, including all images, can be 
accessed using the following link 
https://www.globenewswire.com/Tracker?data=IB5uMUYj6LzKqs4jfT2_0ou_ZnF-YXhAQ3mwZGOrmvz9u6Qjjb4fsxCVyFvIbTsWQnZCe3zTE0jHMxUpTbAMw1nJCihY0pl-k-wg-iFygRY= 
https://bit.ly/3cl6l4X 
 
   Highlights 
 
 
   -- Drilling on the Toucano Zone has continued to successfully confirm depth 
      and strike continuity of several of the high-grade lodes previously 
      reported on 7 April 2021. 
 
   -- Hole 21-SD-012 is the deepest hole drilled yet under the Toucano pit and 
      it confirmed the broad alteration zone continues a further 50 metres 
      below the previously reported high-grade intercepts from drill hole 
      21-SD-010 (news release dated 7 April 2021). 
 
   -- Significant results in 21-SD-012 include, 
 
          -- 21-SD-012 -- 3.25m @ 2.91 g/t Au from 192.75m 
 
          -- 21-SD-012 -- 3.75m @ 7.95 g/t Au from 208.80m 
 
          -- 21-SD-012 -- 0.70m @ 6.63 g/t Au from 222.30m 
 
          -- 21-SD-012 -- 0.80m @ 7.00 g/t Au from 236.30m 
 
   -- Holes 21-SD-013, 014 and 015 were all drilled 250 metres further north, 
      and continued to intersect a broad 40 metre wide alteration zone 
      containing multiple vein lode structures along strike. These holes are 
      all below the Raimundo artisanal pit, 250 metres to the north-east of the 
      Toucano artisanal pit. These holes also intersected additional parallel 
      structures, north and south of the alteration halo. 
 
 
   With the initial phase of drilling at the Toucano Zone complete, the 
drill rig has been mobilised to assess the Atacadão prospect where 
historic exploration around significant artisanal activity identified a 
series of highly prospective targets worthy of follow-up. While the 
Atacadão Phase One drilling is being undertaken, access and drill 
pads will be prepared for infill and step-out drilling on the Toucano 
Zone. 
 
   Mike Hodgson, CEO of Serabi, commented: 
 
   "It is very pleasing that the drilling at the Toucano Zone continues to 
demonstrate the potential for the target and in particular the 
continuity of mineralisation at depth as we seek to realise the 
opportunity in the district surrounding Sao Chico.   The current 
drilling below the Toucano pit, with intercepts including 3.75m @ 7.95 
g/t Au, extends the mineralisation a further 50 metres below the 
previous high-grade intercept of 7.15m @ 258.24g/t Au. 
 
   "Drilling beneath the Raimundo pit confirms the continuity of 
mineralisation along strike and has also identified parallel mineralised 
structures that warrant further follow-up. 
 
   "With the initial drill programme at the Toucano Zone now complete, the 
drill rig is being relocated to the Atacadão prospect. This area 
has seen extensive artisanal activity and generated some high-grade 
results from both surface sampling by Serabi and drilling by the 
previous tenement holder. We believe this prospect is a series of 
parallel mineralised structures and plan to drill a fence of holes 
across it to provide a greater geological understanding and aid future 
drill planning. 
 
   "Elsewhere within our broader tenement area, we continue to drill close 
to the Sao Chico and Palito mines and have a fourth rig due to arrive at 
site later this month. 
 
   "We look forward to updating the market as we generate further results." 
 
   TABLE OF RECENT DRILL RESULTS 
 
 
 
 
   Hole      Target       East         North        RL    Depth (m)    Dip/Azm      From     To    Apparent Width (m)    Gold Grade 
----------  --------                              ------  ---------                ------  ------  ------------------ 
                      (UTM- WGS84)  (UTM- WGS84)                     (deg/degUTM)                                         (Au g/t) 
----------  --------  ------------  ------------  ------  ---------  ------------  ------  ------  ------------------  --------------- 
                                                                           SÃO DOMINGOS DD DRILLING 
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
     21-SD-002             Toucano        604167                          9290881                                             222.81  135.25  -42/139  80.50  82.00  1.50  1.69 (1) 
                                                  ------  ---------                ------  ------  ------------------ 
                                                                            incl.   81.00   82.00                1.00         2.28 (1) 
 -------------------  ------------  ------------  ------  ---------  ------------  ------  ------  ------------------  --------------- 
21-SD-008   Toucano         603845       9290588  228.37      220.4       -42/131  100.00  100.70                0.70         0.80 (1) 
                                                                                   ------  ------  ------------------  --------------- 
21-SD-010   Toucano         603986           929  234.58     239.93       -50/139  191.00  191.50                0.50         0.58 (1) 
                                         9290765                                   212.60  213.00                0.40         0.61 (1) 
                                                                                   222.70  223.35                0.65         1.14 (1) 
 -------------------  ------------  ------------  ------  ---------  ------------  ------  ------  ------------------  --------------- 
21-SD-012   Toucano         603950       9290796  235.01     278.31       -49/139   72.70   73.70                1.00         1.56 (1) 
                                                                                   192.75  196.00                3.25     2.91 ((2) () 
                                                                                   202.00  202.70                0.70     0.68 ((2) () 
                                                                                   208.80  212.50                3.70     7.95 ((2) () 
                                                                            incl.  211.75  212.50                0.75    31.03 ((2) () 
                                                                                   214.00  215.50                1.50     0.79 ((2) () 
                                                                                   222.30  223.00                0.70     6.63 ((2) () 
                                                                                   224.90  226.40                1.50     0.81 ((2) () 
                                                                                   230.65  232.50                1.85     1.49 ((2) () 
                                                                                   234.25  234.85                0.60     1.35 ((2) () 
                                                                                   236.30  237.10                0.80     7.00 ((2) () 
 -------------------  ------------  ------------  ------  ---------  ------------  ------  ------  ------------------  --------------- 
21-SD-013   Toucano         604159       9290871  222.80     251.63       -68/138  100.60  101.35                0.75     0.79 ((2) () 
                                                                                   108.90  109.75                0.85     2.57 ((2) () 
                                                                                   139.00  140.00                1.00      0.79((2) () 
 -------------------  ------------  ------------  ------  ---------  ------------  ------  ------  ------------------  --------------- 
21-SD-014   Toucano         604276       9290756  253.97     220.17       -64/318   95.70   96.30                0.60     0.69 ((2) () 
                                                                                   ------  ------  ------------------  --------------- 
21-SD-015   Toucano         604101       9290925  217.16     299.59       -50/140   53.50   54.20                0.70     0.78 ((2) () 
                                                                                    63.20   63.65                0.45     0.54 ((2) () 
                                                                                    69.40   69.85                0.45     0.54 ((2) () 
                                                                                    71.40   72.00                0.60     2.11 ((2) () 
 -------------------  ------------  ------------  ------  ---------  ------------  ------  ------  ------------------  --------------- 
 
 
 
   REVIEW OF RESULTS 
 
   To view the image of the Toucano Zone drill intersections, please click 
on this link - https://bit.ly/3uZuMM2 
 
   Toucano Zone drill intersections in plan. 
 
   The drilling has established a broad 50 metre wide zone of alteration 
containing multiple high-grade vein-lode structures extending at least 
over a 400 metre strike and to a depth of at least 200 metre vertical. 
Additionally, the drilling has intersected narrow vein-lode structures 
to the north and south of the principal trend. The drill programme along 
the Toucano Zone at Sao Domingos is now complete although final assay 
results from several of drill holes are yet to be received. 
 
   To view the image of the Toucano Zone drill section 1, please click on 
this link - https://bit.ly/3v5bkh2 
 
   Toucano Zone drill section 1. 
 
   To view the image of the Toucano Zone drill section 2, please click on 
this link - https://bit.ly/3cqgKwx 
 
   Toucano Zone drill section 2. 
 
   Atacadao 
 
   Following this initial success on the Toucano Zone, Serabi has mobilised 
the drilling rig to the Atacadão prospect, 2km to the south of the 
Toucano Zone. The Atacadão prospect is characterised by the 
presence of several large artisanal open pits and a series of shafts and 
adits. Mineralisation relates to quartz vein-lode type structures in a 
similar orientation to that of the Toucano Zone further north. 
 
   Since acquiring the property Serabi geologists have collected rock chip 
samples along this trend grading up to 204.77g/t Au (news release dated 
22 January 2021) and mapped several intersecting structural lineaments 
in the area. The location and results of the rock chips programme are 
shown below: 
 
   To view the image of the Proposed Drill Traverse across the 
Atacadão prospect, please click on this link - 
https://bit.ly/2T6gAmY 
 
   Proposed Drill Traverse across the Atacadão prospect. 
 
   In-situ rock chip samples taken by Serabi over the Atacadão 
prospect are set out in the table below: 
 
 
 
 
ROCK SAMPLE 
--------------------------------------- 
Target          Sample ID    Gold (g/t) 
--------------  -----------  ---------- 
Atacadão   RKSR000453         2.42 
--------------  -----------  ---------- 
Atacadão   RKSR000455         0.08 
--------------  -----------  ---------- 
Atacadão   RKSR000684       204.77 
--------------  -----------  ---------- 
Atacadão   RKSR000690         1.96 
--------------  -----------  ---------- 
Atacadão   RKSR000876         8.97 
--------------  -----------  ---------- 
Atacadão   RKSR000877        44.68 
--------------  -----------  ---------- 
Atacadão   RKSR000878         5.37 
--------------  -----------  ---------- 
Atacadão   RKSR000880         0.19 
--------------  -----------  ---------- 
Atacadão   RKSR000881         0.30 
--------------  -----------  ---------- 
Atacadão   RKSR000882        10.13 
--------------  -----------  ---------- 
Atacadão   RKSR000883         5.73 
--------------  -----------  ---------- 
Atacadão   RKSR000885         0.32 
--------------  -----------  ---------- 
Atacadão   RKSR000888         0.24 
--------------  -----------  ---------- 
Atacadão   RKSR000889         0.14 
--------------  -----------  ---------- 
Atacadão   RKSR000890        19.98 
--------------  -----------  ---------- 
Atacadão   RKSR000891         3.10 
--------------  -----------  ---------- 
 AVERAGE                          19.27 
 --------------------------  ---------- 
 
 
   Following this mapping and the successful surface rock chip programme, 
Serabi has commenced a "top-to-tail" drill traverse across the 
Atacadão trend to provide a baseline geological context to the 
trend and to facilitate a comprehensive assessment of the potential of 
this prospect. The drill traverse will comprise approximately 11 drill 
holes and complete a 600m section across the trend. 
 
   This programme will also go some way to confirming the eleven holes 
drilled in 2006 on the Atacadão prospect, which covered an 800 
metre strike length and was undertaken by the previous operator, Aurora 
Gold Corporation. This drilling intersected a number of narrow but 
high-grade veins within a broader structural trend. Although Serabi has 
not verified nor validated the results reported, drill intersected 
grades up to 59.97g/t are recorded. The table below is an extract from 
the Aurora Gold Database recording the 11 holes. Serabi does not have 
access to the physical core nor pulps for re-assay and therefore cannot 
validate these results. 
 
   Drill intercepts reported by the previous tenement holder, Aurora Gold 
Corporation, were : 
 
 
 
 
                                                                                                                           Gold 
 Hole        Target          East          North      RL   Depth (m)    Dip/Azm      From     To    Apparent Width (m)    Grade 
-------  --------------                               ---  ---------                ------  ------  ------------------ 
                         (UTM- WGS84)   (UTM- WGS84)                  (deg/degUTM)                                       (Au g/t) 
-------  --------------  -------------  ------------  ---  ---------  ------------  ------  ------  ------------------  ---------- 
                                                                   ATACADÃO HISTORICAL DD DRILLING 
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 
      ATA-DD 001         Atacadão        604765                       9289256                                           231  124.55  -45/188  28.53  29.47  0.94  6.81 
                                                      ---  ---------                ------  ------  ------------------ 
                                                                                     52.13   55.04                2.91        0.93 
                                                                                     68.02   68.99                0.97        8.02 
 ----------------------  -------------  ------------  ---  ---------  ------------  ------  ------  ------------------  ---------- 
ATA-DD 
  002    Atacadão          604725       9289244  228     128.50       -45/150   28.45   29.44                0.99        2.31 
                                                                                     37.12   39.69                2.57        1.47 
ATA-DD 
  003    Atacadão          604696       9289223  226      62.96       -45/160   59.83   60.15                0.32       12.19 
                                                                                     62.80   62.96                0.16       59.97 
 ----------------------  -------------  ------------  ---  ---------  ------------  ------  ------  ------------------  ---------- 
ATA-DD 
  003A   Atacadão          604696       9289223  226     122.70       -61/160   85.06   85.88                0.82        4.89 
                                                                                    ------  ------  ------------------  ---------- 
ATA-DD 
  004    Atacadão          604696       9289223  226     160.30       -60/203  138.25  138.85                0.60        5.72 
                                                                                    ------  ------  ------------------  ---------- 
ATA-DD 
  007    Atacadão          605080       9289408  312     135.90       -45/160   15.13   17.06                1.93        1.39 
ATA-DD 
  009    Atacadão          604832       9289410  264     147.70       -45/330   17.17   20.97                3.80        0.64 
                                                                                     87.27   88.13                0.86        2.78 
 ----------------------  -------------  ------------  ---  ---------  ------------  ------  ------  ------------------  ---------- 
ATA-DD 
  010    Atacadão          604852       9289375  285     170.10       -45/330   59.86   60.82                0.96        3.38 
                                                                                    ------  ------  ------------------  ---------- 
ATA-DD 
  011    Atacadão          604872       9289429  290     150.70       -45/330  121.30  124.00                2.70        0.99 
                                                                                    ------  ------  ------------------  ---------- 
ATA-DD 
  012    Atacadão          604795       9289385  267     120.00       -45/330   15.00   16.88                1.88        1.76 
-------  --------------  -------------  ------------  ---  ---------  ------------  ------  ------  ------------------  ---------- 
 
 
   The information contained within this announcement is deemed by the 
Company to constitute inside information as stipulated under the Market 
Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law 
by virtue of the European Union (Withdrawal) Act 2018. 
 
   The person who arranged for the release of this announcement on behalf 
of the Company was Clive Line, Director. 
 
   Enquiries: 
 
 
 
 
Serabi Gold 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@serabigold.com 
Website: www.serabigold.com 
 
Beaumont Cornish Limited 
 Nominated Adviser and Financial Adviser 
Roland Cornish / Michael Cornish          Tel: +44 (0)20 7628 3396 
 
Peel Hunt LLP 
 Joint UK Broker 
Ross Allister / Alexander Allen           Tel: +44 (0)20 7418 9000 
 
Tamesis Partners LLP 
 Joint UK Broker 
Charlie Bendon / Richard Greenfield       Tel: +44 (0)20 3882 2868 
 
Camarco 
 Financial PR 
Gordon Poole / Nick Hennis                Tel: +44(0) 20 3757 4980 
 
 
   Copies of this announcement are available from the Company's website at 
www.serabigold.com. 
 
   Neither the Toronto Stock Exchange, nor any other securities regulatory 
authority, has approved or disapproved of the contents of this 
announcement. 
 
   See 
https://www.globenewswire.com/Tracker?data=ffdrpzGdhow6SwR3p07C2eB2HvygRBLYPWDElC3l_U7HX_8x8QG8Q_5mJ7nBaZf8wN-GJSbXoqSgP3zHI1maoZs2ofZTbY5nk44du4gdwnE= 
www.serabigold.com for more information and follow us on twitter 
@Serabi_Gold 
 
   GLOSSARY OF TERMS 
 
 
 
 
"Ag"                means silver. 
------------------  ---------------------------------------------------------------- 
"Au"                means gold. 
------------------  ---------------------------------------------------------------- 
"assay"             in economic geology, means to analyse the proportions 
                     of metal in a rock or overburden sample; to test an 
                     ore or mineral for composition, purity, weight or 
                     other properties of commercial interest. 
------------------  ---------------------------------------------------------------- 
"CIM"               means the Canadian Institute of Mining, Metallurgy 
                     and Petroleum. 
------------------  ---------------------------------------------------------------- 
"chalcopyrite"      is a sulphide of copper and iron. 
------------------  ---------------------------------------------------------------- 
"Cu"                means copper. 
------------------  ---------------------------------------------------------------- 
"cut-off grade"     the lowest grade of mineralised material that qualifies 
                     as ore in a given deposit; rock of the lowest assay 
                     included in an ore estimate. 
------------------  ---------------------------------------------------------------- 
"dacite porphyry    a silica-rich igneous rock with larger phenocrysts 
intrusive"           (crystals) within a fine-grained matrix 
------------------  ---------------------------------------------------------------- 
"deposit"           is a mineralised body which has been physically delineated 
                     by sufficient drilling, trenching, and/or underground 
                     work, and found to contain a sufficient average grade 
                     of metal or metals to warrant further exploration 
                     and/or development expenditures; such a deposit does 
                     not qualify as a commercially mineable ore body or 
                     as containing ore reserves, until final legal, technical, 
                     and economic factors have been resolved. 
------------------  ---------------------------------------------------------------- 
"electromagnetics"  is a geophysical technique tool measuring the magnetic 
                     field generated by subjecting the sub-surface to electrical 
                     currents. 
------------------  ---------------------------------------------------------------- 
"garimpo"           is a local artisanal mining operation 
------------------  ---------------------------------------------------------------- 
"garimpeiro"        is a local artisanal miner. 
------------------  ---------------------------------------------------------------- 
"geochemical"       refers to geological information using measurements 
                     derived from chemical analysis. 
------------------  ---------------------------------------------------------------- 
"geophysical"       refers to geological information using measurements 
                     derived from the use of magnetic and electrical readings. 
------------------  ---------------------------------------------------------------- 
"geophysical        include the exploration of an area by exploiting differences 
techniques"          in physical properties of different rock types. Geophysical 
                     methods include seismic, magnetic, gravity, induced 
                     polarisation and other techniques; geophysical surveys 
                     can be undertaken from the ground or from the air. 
------------------  ---------------------------------------------------------------- 
"gossan"            is an iron-bearing weathered product that overlies 
                     a sulphide deposit. 
------------------  ---------------------------------------------------------------- 
"grade"             is the concentration of mineral within the host rock 
                     typically quoted as grams per tonne (g/t), parts per 
                     million (ppm) or parts per billion (ppb). 
------------------  ---------------------------------------------------------------- 
"g/t"               means grams per tonne. 
------------------  ---------------------------------------------------------------- 
"granodiorite"      is an igneous intrusive rock similar to granite. 
------------------  ---------------------------------------------------------------- 
"hectare" or a      is a unit of measurement equal to 10,000 square metres. 
"ha" 
------------------  ---------------------------------------------------------------- 
"igneous"           is a rock that has solidified from molten material 
                     or magma. 
------------------  ---------------------------------------------------------------- 
"IP"                refers to induced polarisation, a geophysical technique 
                     whereby an electric current is induced into the sub-surface 
                     and the conductivity of the sub-surface is recorded. 
------------------  ---------------------------------------------------------------- 
"intrusive"         is a body of rock that invades older rocks. 
------------------  ---------------------------------------------------------------- 
"Indicated Mineral  is that part of a Mineral Resource for which quantity, 
Resource             grade or quality, densities, shape and physical characteristics 
                     can be estimated with a level of confidence sufficient 
                     to allow the appropriate application of technical 
                     and economic parameters, to support mine planning 
                     and evaluation of the economic viability of the deposit. 
                     The estimate is based on detailed and reliable exploration 
                     and testing information gathered through appropriate 
                     techniques from locations such as outcrops, trenches, 
                     pits, workings and drill holes that are spaced closely 
                     enough for geological and grade continuity to be reasonably 
                     assumed. 
------------------  ---------------------------------------------------------------- 
"Inferred Mineral   is that part of a Mineral Resource for which quantity 
Resource"            and grade or quality can be estimated on the basis 
                     of geological evidence and limited sampling and reasonably 
                     assumed, but not verified, geological and grade continuity. 
                     The estimate is based on limited information and sampling 
                     gathered through appropriate techniques from locations 
                     such as outcrops, trenches, pits, workings and drill 
                     holes. 
------------------  ---------------------------------------------------------------- 
"Inferred Mineral   " is that part of a Mineral Resource for which quantity 
Resource"            and grade or quality can be estimated on the basis 
                     of geological evidence and limited sampling and reasonably 
                     assumed, but not verified, geological and grade continuity. 
                     The estimate is based on limited information and sampling 
                     gathered through appropriate techniques from locations 
                     such as outcrops, trenches, pits, workings and drill 
                     holes. 
------------------  ---------------------------------------------------------------- 
"mineralisation"    the concentration of metals and their chemical compounds 
                     within a body of rock. 
------------------  ---------------------------------------------------------------- 
"mineralised"       refers to rock which contains minerals e.g. iron, 
                     copper, gold. 
------------------  ---------------------------------------------------------------- 
"Mineral Resource"  is a concentration or occurrence of diamonds, natural 
                     solid inorganic material, or natural solid fossilized 
                     organic material including base and precious metals, 
                     coal, and industrial minerals in or on the Earth's 
                     crust in such form and quantity and of such a grade 
                     or quality that it has reasonable prospects for economic 
                     extraction. The location, quantity, grade, geological 
                     characteristics and continuity of a Mineral Resource 
                     are known, estimated or interpreted from specific 
                     geological evidence and knowledge. 
------------------  ---------------------------------------------------------------- 
"Mineral Reserve"   is the economically mineable part of a Measured or 
                     Indicated Mineral Resource demonstrated by at least 
                     a Preliminary Feasibility Study. This Study must include 
                     adequate information on mining, processing, metallurgical, 
                     economic and other relevant factors that demonstrate, 
                     at the time of reporting, that economic extraction 
                     can be justified. A Mineral Reserve includes diluting 
                     materials and allowances for losses that may occur 
                     when the material is mine 
------------------  ---------------------------------------------------------------- 
"Mo-Bi-As-Te-W-Sn"  Molybdenum-Bismuth-Arsenic-Tellurium-Tungsten-Tin 
------------------  ---------------------------------------------------------------- 
"monzogranite"      a biotite rich granite, often part of the later-stage 
                     emplacement of a larger granite body. 
------------------  ---------------------------------------------------------------- 
"mt"                means million tonnes. 
------------------  ---------------------------------------------------------------- 
"ore"               means a metal or mineral or a combination of these 
                     of sufficient value as to quality and quantity to 
                     enable it to be mined at a profit. 
------------------  ---------------------------------------------------------------- 
"oxides"            are near surface bed-rock which has been weathered 
                     and oxidised by long term exposure to the effects 
                     of water and air. 
------------------  ---------------------------------------------------------------- 
"ppm"               means parts per million. 
------------------  ---------------------------------------------------------------- 
"Probable Mineral   is the economically mineable part of an Indicated 
Reserve"             and, in some circumstances, a Measured Mineral Resource 
                     demonstrated by at least a Preliminary Feasibility 
                     Study. This Study must include adequate information 
                     on mining, processing, metallurgical, economic, and 
                     other relevant factors that demonstrate, at the time 
                     of reporting, that economic extraction can be justified. 
------------------  ---------------------------------------------------------------- 
"Proven Mineral     is the economically mineable part of a Measured Mineral 
Reserve"             Resource. A Proven Mineral Reserve implies a high 
                     degree of confidence in the Modifying Factors 
------------------  ---------------------------------------------------------------- 
"saprolite"         is a weathered or decomposed clay-rich rock. 
------------------  ---------------------------------------------------------------- 
"sulphide"          refers to minerals consisting of a chemical combination 
                     of sulphur with a metal. 
------------------  ---------------------------------------------------------------- 
"vein"              is a generic term to describe an occurrence of mineralised 
                     rock within an area of non-mineralised rock. 
------------------  ---------------------------------------------------------------- 
"VTEM"              refers to versa time domain electromagnetic, a particular 
                     variant of time-domain electromagnetic geophysical 
                     survey to prospect for conductive bodies below surface. 
------------------  ---------------------------------------------------------------- 
 
   Qualified Persons Statement 
 
   The scientific and technical information contained within this 
announcement has been reviewed and approved by Michael Hodgson, a 
Director of the Company. Mr Hodgson is an Economic Geologist by training 
with over 30 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, 
recognising him as both a Qualified Person for the purposes of Canadian 
National Instrument 43-101 and by the AIM Guidance Note on Mining and 
Oil & Gas Companies dated June 2009. 
 
   Forward Looking Statements 
 
   Certain statements in this announcement are, or may be deemed to be, 
forward looking statements. Forward looking statements are identi ed by 
their use of terms and phrases such as "believe", "could", "should" 
"envisage", "estimate", "intend", "may", "plan", "will" or 
the negative of those, variations or comparable expressions, including 
references to assumptions. These forward looking statements are not 
based on historical facts but rather on the Directors' current 
expectations and assumptions regarding the Company's future growth, 
results of operations, performance, future capital and other 
expenditures (including the amount, nature and sources of funding 
thereof), competitive advantages, business prospects and opportunities. 
Such forward looking statements re ect the Directors' current beliefs 
and assumptions and are based on information currently available to the 
Directors. A number of factors could cause actual results to differ 
materially from the results discussed in the forward looking statements 
including risks associated with vulnerability to general economic and 
business conditions, competition, environmental and other regulatory 
changes, actions by governmental authorities, the availability of 
capital markets, reliance on key personnel, uninsured and underinsured 
losses and other factors, many of which are beyond the control of the 
Company. Although any forward looking statements contained in this 
announcement are based upon what the Directors believe to be reasonable 
assumptions, the Company cannot assure investors that actual results 
will be consistent with such forward looking statements. 
 
   ENDS 
 
   Attachment 
 
 
   -- Sao Domingos Exploration Update June 21 WEB FINAL 
      https://ml-eu.globenewswire.com/Resource/Download/399a9f84-fa92-4ebb-9c7d-d8d50e274c4e 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

June 08, 2021 02:00 ET (06:00 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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