Commissioning of new heli-borne VTEM survey
(Thomson Reuters ONE) -
SERABI MINING plc
("Serabi" or "the Company")
New helicopter-borne geophysical VTEM survey commissioned for November 2010
Serabi Mining , the AIM-traded gold exploration company, is pleased to advise
that the Company has entered into an agreement with Geotech Aerolevantamento to
carry out a new airborne geophysical electromagnetic ("VTEM") survey over two
areas totaling 8,007 hectares within its Jardim do Ouro tenement holdings that
surround the Palito project (see map Areas-1 and 2).
The survey is scheduled to commence at the end of November and will be flown
over a total of 1,170 line kilometres.
Mike Hodgson, Chief Executive, commented:
"The success of the last VTEM survey that Serabi undertook in January 2008
yielded some excellent drill targets. This has led us to conclude that the use
of helicopter-borne VTEM surveys represent the best geological tool for rapidly
screening large areas for occurrences of the sulphide mineralisation associated
with gold deposits in this area of the Tapajos. We have taken the opportunity
to commission Geotech at this time to benefit from the cost savings associated
with reduced mobilisation charges as Geotech is currently undertaking similar
activity in reasonably close proximity to our property.
"The proposed new VTEM survey is over neighbouring contiguous concessions which
host a number of garimpo operations and will enable us to increase the area
surveyed from the existing 6,000 hectares to some 14,000 hectares; substantially
increasing the potential to identify new areas of gold mineralization similar to
that already established at Palito. We hope to repeat the target generation that
was yielded by the 2008 survey and expect that, allowing for the data to be
properly processed, we may have an initial interpretation towards the end of the
first quarter of 2011
"Whilst we continue to focus our primary effort on building the resource base
immediately around Palito, we believe that it is vital that we extend our
exploration effort and add value to the wider Jardim do Ouro tenement holdings
that the Company has in order to uncover the wider potential of the region. We
are confident that this survey will generate additional targets for future
evaluation".
Serabi's earlier survey over 6,000 hectares involved flying 732 line kilometres
and yielded 18 high priority anomalies, of which 14 have now been ground
tested. The correlation of the results has generated 9 drill ready targets on
which drilling is expected to commence in December 2010.
A map showing the proposed VTEM survey areas is attached to this release.
Enquiries:
Serabi Mining plc
Mike Hodgson Tel: 020 7246 6830
Chief Executive Mobile: 07799 473 621
Clive Line Tel: 020 7246 6830
Finance Director Mobile: 07710 151 692
Email: contact(at)serabimining.com
Website: www.serabimining.com
Beaumont Cornish Limited
Nominated Adviser
Roland Cornish Tel: 020 7628 3396
Michael Cornish Tel: 020 7628 3396
Hybridan LLP
Broker
Claire Noyce Tel: 020 7947 4350
Farm Street Communications
Public Relations
Simon Robinson 07593 340107
Copies of this release are available from the company's website
www.serabimining.com.
[HUG#1457850]
Map showing VTEM survey area locations:
http://hugin.info/137617/R/1457850/397417.jpg
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Source: Serabi Mining plc via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 02.11.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 48288
Anzahl Zeichen: 4407
contact information:
Town:
London
Kategorie:
Business News
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"Commissioning of new heli-borne VTEM survey"
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