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Serabi Gold released mixed resources update for Brazil projects
StockMarketWire.com
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Mining company Serabi Gold released a mixed resources estimate update for its projects in Brazil.
Total reserves for the Palito mine at 31 December were now estimated at 53,000 contained ounces, down from an August 2020 estimate of 55,000 contained ounces.
Measured and indicated resources, however, had risen to 180,000 contained ounces, up from 171,000, while inferred resources had risen to 118,000 ounces from 111,000.
At the Sao Chico mine, total reserves had fallen to 9,000 contained ounces, down from 17,000, while measured and indicated resources had fallen to 83,000 ounces from 94,000 and inferred resources to 94,000 ounces from 107,000.
'The Palito complex has a long history of reserve and resource replenishment and it is pleasing to demonstrate this once again,' chief executive Mike Hodgso said.
'Our global mineral resources have remained relatively stable despite mine depletion and although the reported reserves are lower than we would normally expect, this is a direct result of the measures we took to safeguard our operation in the face of the Covid-19 pandemic.'
At 8:51am: (LON:SRB) Serabi Mining PLC share price was 0p at 83.5p
Story provided by StockMarketWire.com
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