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BRAZIL - Serabi Gold plc (AIM:SRB, TSX:SBI, OTCQX:SRBIF) announced midpoint results from its ongoing $9 million, 30,000-meter brownfield drilling program across its Palito Complex and Coringa gold projects in Brazil’s Tapajós region.
The company reported significant discoveries including a new orebody at Coringa’s Serra South zone, located approximately 500 meters south of the existing Serra mine, and extensions to the Senna orebody at the Palito Complex.
Notable intercepts from the 2025 campaign include 0.53m at 151.00 g/t gold at Serra, 1.36m at 17.99 g/t gold at Senna, and 0.87m at 137.48 g/t gold including 0.32m at 322.10 g/t gold at Serra.
The exploration program, which is evenly divided between both properties, aims to increase Serabi’s mineral inventory from approximately 1 million ounces to more than 1.5 million ounces. The company plans to update its Mineral Resource Estimate for both properties in Q1-2026 after completing the current program in December.
At Coringa, 13,800 meters of the planned 16,000 meters have been completed across 64 drill holes, with 25 returning grades exceeding 3.0 g/t gold. The company has also completed a 90-kilometer Induced Polarisation survey that identified several new targets.
At the Palito Complex, 10,400 meters of the planned 14,000 meters have been drilled across 35 holes. The most significant results came from the Senna target, with mineralization extending both north and south of the existing orebody.
"We’ve seen numerous exciting developments through our 2025 brownfield exploration programme, especially at Coringa," said CEO Mike Hodgson in the press release statement.
The drilling program is part of Serabi’s Phase II growth strategy to become a producer of more than 100,000 ounces of gold per annum.
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