| Announcement Date: | 2022-11-21 |
|---|---|
| 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. 4.26m at 59.97g/t Au, from 171.63m |
| 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 the discovery of a new mineralized zone, named E3, located approximately 150m to the east of the previously outlined East Zone at Serra Alta and new assay results from its ongoing infill/condemnation and extensional drill program at the Serra Alta deposit at its Monte do Carmo Project located in Tocantins State, Brazil (“MDC”). The drill program commenced in Q4 2021 with the aim to upgrade the bulk of the resources into Measured and Indicated categories, target new satellites, extensional zones, condemn areas of project infrastructure and support the ongoing Feasibility Study. This phase of drilling has been extended to Q4, to target several extensional zones such as Gogó de Onça (“Gogo”) to be incorporated into the feasibility study and further define the newly discovered E3 zone, reported for first time in this release. The Company is currently reporting assay results from 31 drill holes, totaling 10,647m (see Tables 1 & 2) completed from June to September 2022. As of November 4, 2022, a total of 172 drill holes, totaling 42,068m have been completed as part of the 2022 program, including 137 holes at Serra Alta; and 35 holes in the satellite exploration areas. The Company currently has 5 drill rigs on site and plans to complete the current phase of drilling by Mid-December. |
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