- Cerrado Gold (CERT) has intersected 24.2 m at 2.4 g/t Au at the Monte Do Carmo Gold Project in Brazil
- Other standout results include 15.2 m at 1.8 g/t Au and 9.54 m at 5.22 g/t Au
- As of March 19, 2021, Cerrado has completed 15,900 m of its 17,000 m Phase I drill program
- Cerrado is planning a further 14,000 m Phase 2 drill program
- The company is targeting a resource between 1.2 million and 1.6 million ounces of gold
- Cerrado Gold is a gold production and exploration company with projects in Brazil and Argentina
- Cerrado Gold (CERT) is up 2.56 per cent and is currently trading at C$1.20 per share
Cerrado Gold (CERT) has intersected 24.2 m at 2.4 g/t Au at the Monte Do Carmo Gold Project in Brazil.
The results stem from six drill holes from its ongoing 17,000 m Phase 1 drilling program at the Serra Alta deposit at Monte do Carmo.
Other standout results include:
- 9.3 m at 3.5 g/t Au
- 15.2 m at 1.8 g/t Au
- 9.54 m at 5.22 g/t Au
- 6.83 m at 5.56 g/t Au
- 7.26 m at 5.57 g/t Au
The drill holes intersected broad zones of hydrothermal alteration with abundant points of visible gold.
The alteration is typical for the Serra Alta deposit, including an abundance of quartz veinlets, potassic, chloritic and sulphides with visible gold.
As of March 19, 2021, Cerrado has completed 15,900 m of its Phase I drill program.
Cerrado plans to begin a 14,000 m Phase 2 drill program looking at further resource expansion at Serra Alta.
Cerrado is targeting a resource between 1.2 million and 1.6 million ounces at an average grade of between 1.5 g/t Au to 2.0 g/t Au.
The company will produce a new preliminary economic assessment for the resource by the end of June.
As of December 5, 2018, Serra Alta has inferred resources totaling 813,000 ounces of gold contained within 13,639,000 tonnes at 1.85 g/t Au.
Mark Brennan, Cerrado’s Co-Chairman and CEO, commented,
“The new results received from the current drill program at Serra Alta continue to add further confidence in our ability to significantly expand and potentially improve the overall grade of the existing resource at Serra Alta.
The results from the Phase 1 drill program, which is expected to be completed imminently, are expected to achieve the company’s aggressive target to grow the resource to 1.5MM ounces.
The company will begin its Phase 2 drill program immediately upon completion of drilling the Phase 1 program, which is targeted to grow the resource base to between 2.0-2.5MM ounces by year end.”
Cerrado Gold is a gold production and exploration company with projects in Brazil and Argentina.
Cerrado Gold (CERT) is up 2.56 per cent and is currently trading at C$1.20 per share as of 1:39 pm ET.