Serabi Gold (SRB)

Sector:

Mining

Index:

FTSE AIM All-Share

67.50p
   
  • Change Today:
      3.00p
  • 52 Week High: 68.00
  • 52 Week Low: 21.50
  • Currency: UK Pounds
  • Shares Issued: 75.73m
  • Volume: 153,855
  • Market Cap: £51.12m
  • RiskGrade: 196

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Serabi pleased with latest sampling from Sao Domingos

By Josh White

Date: Thursday 22 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Brazil-focussed gold mining and development company Serabi Gold updated the market on exploration sampling and ongoing drilling from the São Domingos project on Thursday.
The AIM-traded firm said surface sampling and mapping at the project had highlighted the potential of the Atacadão trend, with early exploration drilling confirming the density and tenor of gold bearing structures.

It said the Atacadão trend lay two kilometres to the south of the Toucano trend.

Surface sampling, totalling 69 rock chip samples with an average grade of 8.33 grams of gold per tonne over an area of 1.5 by 1.5 kilometres, and a maximum result of 204.77 grams per tonne, reflected the prospectivity of the area.

The company said that significantly, 36% of samples returned over three grams of gold per tonne, with an average grade of 22.5 grams per tonne.

Mapping outlined a broad east-west corridor of parallel gold-bearing structures transected by a north east-south west mineralised structure.

Serabi said historic artisanal hard-rock shafts, located at the intersection of those structural orientations, had returned grades of up to 40.59 grams of gold per tonne.

Drilling began in July on the Atacadão trend, following up on the detailed mapping and rock chip sampling of that prospective trend.

A north-south drill traverse, designed to cover the structural intersection, returned early positive results on multiple narrow vein sets grading up to 6.19 grams of gold per tonne.

Separately, the company said it had commissioned a regional airborne geophysics survey on the São Domingos Project, which was expected to be completed by the end of October.

"These initial results of the surface sampling from the Atacadão trend are very encouraging," said chief executive officer Mike Hodgson.

"The distribution and grade of the rock chip samples demonstrates the strength and scale of the mineralised system.

"The objective of the drilling is to provide us with a better understanding on the geological controls on gold deposition and, while this is still at an early stage and on the periphery of the trend, the initial results are very promising."

Hodgson said the Atacadão trend is the second prospect in the São Domingos project area to be drill tested.

"It lies two kilometres to the south of the Toucano trend, where the company has already identified a 50 metre-wide alteration zone over a potential strike length of at least 600 metres containing multiple high-grade intercepts."

The company was proving-up additional prospects at São Domingos for future drill-testing, Hodgson added.

"Elsewhere, Serabi is drilling at the São Chico mine, five kilometres to the east of Atacadão, and now has two drill rigs testing the southern extensions of the Palito orebody."

At 1222 BST, shares in Serabi Gold were down 0.31% at 64.3p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Serabi Gold Market Data

Currency UK Pounds
Share Price 67.50p
Change Today 3.00p
% Change 4.65 %
52 Week High 68.00
52 Week Low 21.50
Volume 153,855
Shares Issued 75.73m
Market Cap £51.12m
RiskGrade 196

Serabi Gold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.38% above the market average27.38% above the market average27.38% above the market average27.38% above the market average27.38% above the market average
9.92% below the sector average9.92% below the sector average9.92% below the sector average9.92% below the sector average9.92% below the sector average
Price Trend
96.69% above the market average96.69% above the market average96.69% above the market average96.69% above the market average96.69% above the market average
94.41% above the sector average94.41% above the sector average94.41% above the sector average94.41% above the sector average94.41% above the sector average
Income Not Available
Growth
37.07% below the market average37.07% below the market average37.07% below the market average37.07% below the market average37.07% below the market average
37.5% below the sector average37.5% below the sector average37.5% below the sector average37.5% below the sector average37.5% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Serabi Gold Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:33 10,000 @ 68.00p
16:27 3,761 @ 67.41p
16:00 6,000 @ 68.00p
15:57 6,000 @ 68.00p
15:37 5,000 @ 67.00p

Serabi Gold Key Personnel

Finance Director Clive Malcolm Line
CEO Michael Hodgson

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