Serabi Gold Completes 20,800 Meters of Drilling at Two Gold Mines in Brazil

en.Wedoany.com Reported - On September 21, Serabi Gold announced its 2026 brownfield exploration progress, having completed 20,831 meters of diamond drilling in the first half of this year at the Palito Complex and Coringa Gold Mine in Pará State, Brazil. Of this, Palito completed 37 drill holes totaling 11,522 meters, while Coringa completed 42 drill holes totaling 9,309 meters. The company's 2026 brownfield drilling program at the two mines has a total planned scale of 32,000 meters, with 6 drill rigs currently in operation. The company plans to complete the full year's drilling in October and update the mineral resource estimates for both mines in the first quarter of 2027.

At the Serra South area of Coringa, drill hole 26-SR-055 intersected 1.38 meters at 11.85 g/t gold, including 0.42 meters at 37.10 g/t gold; 26-SR-059 returned a mineralized interval of 2.20 meters at 5.89 g/t gold, including 0.40 meters at 13.40 g/t and 1.19 meters at 6.87 g/t, with the latter containing 0.49 meters at 16.55 g/t. Serra South is located approximately 500 meters southeast of the existing Serra mining area, and development of the related underground decline was initiated in the second quarter of this year.

At the Meio area of Coringa, drill hole 26-ME-013 intersected 1.70 meters at 16.13 g/t gold, including 0.45 meters at 35.59 g/t. Drilling has extended the Meio mineralized corridor more than 200 meters beyond the boundary of existing underground workings. At the Cabaça target, drill hole 26-FC-005 returned 1 meter at 10.11 g/t gold, including 0.25 meters at 40.30 g/t; at the Encosta target, drill hole 26-ME-006 returned 1.50 meters at 4.01 g/t gold. The company has also commenced its first round of systematic drilling at Sr. Domingos and has determined follow-up drill hole locations at the Pista target.

At Palito, the newly initiated Massa area drill hole 26-MS-001 returned 1.12 meters at 6.12 g/t gold, including 0.43 meters at 15.20 g/t. The Piauí area returned a mineralized interval of 9.93 meters at 1.06 g/t gold, which includes two high-grade intervals of 0.25 meters each, grading 6.26 g/t and 4.95 g/t gold respectively. The company has also reinterpreted the structural model of the Palito G1–G3 mineralized corridor and, based on this, identified new drill targets to be further tested in the second half of 2026.

Following the completion of brownfield drilling in 2025, Serabi Gold's combined measured and indicated resources at the two mines reached 2,485,800 tonnes at an average gold grade of 9.1 g/t, containing 730,800 ounces of gold; inferred resources totaled 2,506,700 tonnes at an average gold grade of 8.1 g/t, containing 653,300 ounces of gold. The company's current Phase 2 organic growth plan has set a group mineral resource target of more than 1.5 million ounces, and all 2026 verification drilling results will be incorporated into the new resource estimate in the first quarter of 2027.