Update on Recent Incidents at Palito Complex and Coringa Mine
Serabi Gold plc has provided an update confirming that mining and milling operations at its Palito Complex and Coringa Mine were not interrupted by recent incidents and continue to progress on budget. The company has complied with all relevant agency protocols and is supporting affected families and staff, while also conducting an internal review of safety procedures. The company's assay results from its Palito laboratory show an average over-estimation of 6.7% compared to independent laboratories for grades exceeding 1 g/t gold since mid-2019.
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Serabi Gold plc (“Serabi” or the “Company”) (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian focused gold mining and development company, provided the following update regarding last week’s incidents at Palito Complex and Coringa mine.
The Company confirms that mining and milling operations were at no point interrupted and continue to progress according to budget. The Company has complied with protocols of all relevant agencies and authorities regarding the incidents and continues to provide support to the families of those affected and staff during this time.
Serabi remains committed to the health and safety of all employees and is well-advanced with an internal review of relevant procedures to ensure we continue to provide a safe and supportive workplace for everyone.
Assay results reported within this release include those provided by the Company's own on-site laboratory facilities at Palito and have not yet been independently verified. Serabi closely monitors the performance of its own facility against results from independent laboratory analysis for quality control purpose. As a matter of normal practice, the Company sends duplicate samples derived from a variety of the Company's activities to accredited laboratory facilities for independent verification. Since mid-2019, over 10,000 exploration drill core samples have been assayed at both the Palito laboratory and certified external laboratory, in most cases the ALS laboratory in Belo Horizonte, Brazil. When comparing significant assays with grades exceeding 1 g/t gold, comparison between Palito versus external results record an average over-estimation by the Palito laboratory of 6.7% over this period. Based on the results of this work, the Company's management are satisfied that the Company's own facility shows sufficiently good correlation with independent laboratory facilities for exploration drill samples. The Company would expect that in the preparation of any future independent Reserve/Resource statement undertaken in compliance with a recognized standard, the independent authors of such a statement would not use Palito assay results without sufficient duplicates from an appropriately certificated laboratory.
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