Cerrado Gold Inc. [CERT-TSXV] reported final assay results from its Phase 1 drill program at the Serra Alta deposit at its Monte do Carmo (MDC) Project located in Tocantins state, Brazil.
The company is reporting the last seven drill holes, out of a total of 55 drill holes completed in the phase 1 program, and is also reporting the first drill hole result from its recently commenced phase 2 drill program. The drill results highlighted in this release are from diamond drill holes FSA-120, FSA-123, FSA-129, FSA-131, FSA-140, FSA-146, FSA-147 (Phase 1) and FSA-148 (Phase 2).
Drill hole highlights (all composites are reported as true thickness)
FSA-131 returned 15.54 metres at 2.39 g/t gold, from 135.21 metres, including 2 metres at 11.49 g/t gold from 139.78 m; 4.96 metres at 11.73 g/t gold from 176.96 metres, including 1.96 metres at 26.73 metres from 179.07 metres and 23.46 metres at 3.38 g/t gold from 398.51 metres.
Hole FSA-140 returned 22.62 metres at 3.71 g/t gold from 332.58 metres and 4.23 metres at 17.22 g/t gold from 349.87 metres.
Hole FSA-146 returned 18.80 metres at 3.45 g/t gold from 91.60 metres, including 1.06 metres at 23.69 g/t gold from 96.83 metres and 4.13 metres at 7.05 g/t gold from 101.21 metres.
Hole FSA-148 returned 8.28 metres at 3.40 g/t gold from 71.00 metres.
Mark Brennan, CEO and co-chairman, commented: “The ongoing results from our drill program continues to support our positive outlook for the Serra Alta deposit. With all the assays delivered from Phase 1, we will now work to update the mineral resource estimate, which, in turn, will be used to develop a new preliminary economic assessment using an expected expanded resource at Serra Alta. We are also excited to have commenced the phase 2 program, which will not only further define the Serra Alta deposit but will also begin to drill some of the regional targets, which we believe will demonstrate the large regional potential of the Monte do Carmo district.”