GEOCHEMICAL RESULTS FROM THE PIAUI DRILL TARGET AT PALITO
(Thomson Reuters ONE) -
SERABI MINING plc
("Serabi" or "the Company")
GEOCHEMICAL RESULTS FROM THE PIAUI DRILL TARGET AT PALITO
PIAUI IS THE FIRST OF NINE TARGETS TO BE DRILLED
Serabi Mining plc, the AIM-traded gold exploration company, is pleased to
release results of further geochemical work performed around the Piaui drill
target at Palito.
Initial trenching work has been undertaken over the prospect and first assays
results reported by Eco Tech Laboratory in Vancouver, Canada have been
received. Trench TC052 was excavated over a length of 237 metres, with a
maximum depth of 5 metres and perpendicular to the strike of the anomaly and
encountered a near-surface intersection of an area of brecciated quartz veining
and weathered sulphide material. (A location map is appended to this release)
Assays of material taken from the trench returned assays as set out below:
Results of Trench TC052 (primary intervals calculated by applying average
0.5g/t Au cut-off)
From To Length Weighted average g/t Au
(m) (m) (m)
-----------------------------------------------
23 24 1 3.52
28 32 4 1.56
33.5 32 1 33.60
71.2 74.4 3.2 16.16
The Piaui anomaly is currently being drilled and is the first of nine targets
that will be drilled in the Company's initial 7,500m discovery drilling
programme which commenced late last year. A programme of 8 diamond drill holes
has been designed to test the depth extent of these trench intersections and
target the centre of the modeled IP chargeability anomaly.
Mike Hodgson, Chief Executive, commented:
"This trenching work is very encouraging and has further enhanced the
prospectivity of this robust anomaly at Piaui.
The ground induced polarisation survey that we undertook earlier this year
allowed us to create 3-D wireframe models for chargeability, resistivity and
conductivity anomalies respectively. Piaui is one of the targets where
significant chargeability anomalies were identified of a similar tenor to that
of the known Palito Main Zone mineralisation. Further trenching and deep
geochemistry programmes are underway and will continue on the remaining
prospects, in parallel to the current drilling programme."
Enquiries:
Serabi Mining plc
Michael Hodgson Tel: 020 7246 6830
Chief Executive Mobile: 07799 473621
Clive Line Tel: 020 7246 6830
Finance Director Mobile: 07710 151692
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
Fraser Mackenzie Limited
Canadian Broker
JC St-Amour Tel: +1 416 955 4777
Hybridan LLP
UK 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.
Forward-looking statements
This press release includes certain forward-looking statements. All statements,
other than statements of historical fact, included herein, including without
limitation, statements regarding the future plans and objectives of Serabi, are
forward-looking statements that involve various known and unknown risks and
uncertainties as well as other factors. Such forward-looking statements are
subject to a number of risks and uncertainties that may cause actual results or
events to differ materially from current expectations, including delays in
obtaining or failure to obtain required regulatory approvals. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.
Any forward-looking statements speak only as of the date hereof and, except as
may be required by applicable law, Serabi disclaim any obligation to update or
modify such forward-looking statements, either as a result of new information,
future events or for any other reason.
Qualified Persons Statement
The information contained within this announcement has been reviewed and
verified by Michael Hodgson as required by the AIM Guidance Note on Mining. Oil
and Gas Companies dated March 2006. Michael Hodgson is an Economic Geologist by
training with 20 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
Glossary
"Au" Gold
"g/t" Grams per tonne
"induced polarization" or "IP" a geophysical technique whereby an electric
current is induced into the sub-surface and the
conductivity of the sub-surface is recorded
3-D three-dimensional
ENDS
Location map of trench TC052:
http://hugin.info/137617/R/1491236/426892.jpg
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Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Serabi Mining plc via Thomson Reuters ONE
[HUG#1491236]
Unternehmensinformation / Kurzprofil:
Datum: 22.02.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 51784
Anzahl Zeichen: 6873
contact information:
Town:
London
Kategorie:
Business News
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"GEOCHEMICAL RESULTS FROM THE PIAUI DRILL TARGET AT PALITO"
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