Announcement Date: 2022-07-18
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Cerrado Gold Inc.
Project name: Monte do Carmo
Location: Brazil
Commodities: Gold
Highlight: Drilling results incl. 20.9m @ 3.93g/t Au from 123m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, ONTARIO – Cerrado Gold Inc. [TSX.V: CERT][OTCQX:CRDOF] (“Cerrado” or the “Company”) is pleased to announce further assay results from its ongoing infill drill program at the Serra Alta deposit at its Monte do Carmo Project (“MDC”) located in Tocantins State, Brazil. The infill drill program commenced in Q4 2021 with the aim to upgrade the bulk of the Inferred resources into the Measured and Indicated categories to support the ongoing Feasibility Study. The 2022 development program is on track to deliver an updated Mineral Resource Estimate in Q3 2022 which will be used as part of the ongoing Feasibility Study to be completed in 1Q 2023. The Company is currently reporting assay results from 17 drill holes, totaling 3,600m (see Tables 1 & 2) completed from March to June 2022. The reported holes include both infill (16 holes) and condemnation drilling (1 hole) at Serra Alta. As of July 8, 2022, a total of 117 drill holes, totaling 26,517m, have been completed as part of the 2022 program. Total completed holes include 103 holes at Serra Alta (infill, condemnation and partial extensions); and 14 holes in the satellite exploration areas namely, Gogó de Onça and Capitao. Infill drill results reported today show good grade and width reconciliation from the Inferred blocks within the current Resource estimate at Serra Alta.
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