Serabi Gold Continues to Hit High-Grade Gold at Palito Mine in Brazil

Serabi Gold (AIM: SRB, TSX: SBI) is a growth-focused gold mining and exploration company operating in the prospective and under-explored mineral belts of northern Brazil. The company is advancing its high-grade Palito underground mine and satellite Coringa project, located in the Tapajós region. With a strong production base and extensive regional tenement portfolio, Serabi is well-positioned to unlock the exploration potential of this prolific gold district. In a June 7, 2023 press release, the company provided an update on exploration at its Palito Mine that continues to intersect exceptional high-grade gold mineralization.

The results demonstrate strong continuity of high-grade gold mineralization in the G3 Vein below current mined areas. Significant intercepts include 1.3 meters at 44.75 g/t gold and 0.9 meters at 23.33 g/t gold. The G3 Vein has been an important source of production for Palito, yielding approximately 65,000 ounces of gold historically.

This drilling campaign is testing potential northwest and down dip extensions of G3, representing a large panel of mineralization up to 300 meters vertically by 600 meters along strike. Additional southerly extensions will be drill tested in 2024.

While Serabi is making progress on an updated resource estimate for Palito, they have opted to delay its completion to incorporate these latest encouraging G3 results. The new estimate is now expected in Q3 2023.

With Palito's production coming from multiple zones, the opportunity to extend additional high-grade orebodies like G3 could significantly expand resources and the mine's overall potential. Savvy gold investors should keep an eye on progress at Palito as these latest results showcase the exploration upside that still exists.