Cerrado Gold Continues to Report Multiple High-Grade Gold Intercepts over Broad Zones of Mineralization from Its Completed Phase I Drill Program at Its Monte do Carmo Gold Project in Brazil

Thursday, 27. May 2021 12:00

Drill results include 9.5m at 14.6 g/t, 10.2m at 9.3g/t and 24.5M at 2.22g/t Au (All widths true thickness)

Toronto, Ontario--(Newsfile Corp. - May 27, 2021) - Cerrado Gold Inc. (TSXV: CERT) ("Cerrado" or the "Company") is very pleased to announce additional drill results from a further 19 drill holes from its completed Phase I (18,998 metres) definition drilling program at the Serra Alta deposit at its Monte do Carmo ("MDC") open pit gold Project located in Tocantins State, Brazil. The results for the remaining 6 holes of the 55-hole program are expected by June 2, 2021.

Drill Hole Highlights (All composites are reported as true thickness):

FSA-115

  • 4.43m at 9.31g/t Au, from 21.30m

FSA-119

  • 24.53m at 2.22g/t Au, from 43.77m
    • Including 6.60m at 4.71g/t Au from 52.29m
  • 13.86m at 2.01g/t Au, from 247.84m
    • Including 3.16m at 6.95g/t Au from 247.84m

FSA-132

  • 2.23m at 10.38g/t Au, from 55.96m
  • 14.82m at 1.82g/t Au from 102.57m
  • 27.74m at 2.19g/t Au, from 153.31m
    • Including 1.05m at 23.09g/t Au from 153.31m
  • 15.50m at 2.85g/t Au from 193.35m
    • Including 4.15m at 7.15g/t Au from 204.70m

FSA-137

  • 23.30m at 1.89g/t Au, from 258.45m
  • 9.49m at 14.60g/t Au from 323.80m
    • Including 0.94m at 107.77g/t Au from 325.88m

FSA-141

  • 9.64m at 4.12g/t Au, from 76.65m
    • Including 2.15m at 14.92g/t Au from 76.65m
  • 35.08m at 1.81g/t Au from 111.31m

FSA-142

  • 10.24m at 9.34g/t Au, from 195.70m
    • Including 5.18m at 17.28g/t Au from 197.80m

FSA-145

  • 19.00m at 1.90g/t Au, from 87.05m
    • Including 0.99m at 12.20g/t Au from 87.05m

Mark Brennan, Co-Chairman and CEO, commented, "We are very pleased to see continued positive results from the completed Phase I drill program at the Serra Alta deposit which supports our robust outlook and highlights the longer term potential offered in the region. The reported results provide us with great confidence that our anticipated projections will be met. In addition, we are excited by the prospects of the regional drilling which is being initiated in the current Phase 2 drill program, to demonstrate the larger regional potential of the Monte Do Carmo district."

The drill results reported in this press release were received up until May 21st, 2021 and represent complete results for FSA-115 and 116, FSA-118 and 119, FSA-121 and 122, and FSA-125, FSA-132, FSA-134 thru 139 and FSA-141 thru 145. Including the assays for holes reported today, Cerrado has reported assay results for 49 of 55 holes drilled in the Phase I program. The results for the remaining 6 holes are expected by June 2, 2021. The results indicate that the current drill program has been very successful in confirming and expanding the mineralization. Numerous drill holes have intersected multiple zones of mineralization.

The current drill holes intersected broad zones of hydrothermal alteration. Within these zones are multiple higher grade intersections with abundant points of visible gold. The alteration is typical for the Serra Alta deposit, including the abundance of quartz veinlets, potassic and chloritic assemblages, and sulphides (pyrite, sphalerite, and galena) with visible gold.

To date, the bulk of the drill results reported fall within the pit boundary as outlined in the Preliminary Economic Assessment ("PEA") of the current resources defined at the Serra Alta deposit at its Monte Do Carmo gold project in Tocantins State, Brazil (See Press Release December 5, 2018).

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Drill Hole Location Map

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Drilling

The first phase of the current drill program at Serra Alta, which began at the end of September 2020, follows the success of the 2018 drill program which resulted in a maiden NI 43-101 compliant resource estimate with an effective date of December 5, 2018 of an Inferred resource totaling 813,000 oz of gold contained within 13,639,000 tonnes grading 1.85 g/t Au.

The Phase I program consisted of 18,998 metres of drilling; mainly step-out and downdip to define additional ounces and a modest amount of infill drilling to upgrade a portion of the resource base to the Measured and Indicated resource categories focusing on the known Serra Alta deposit. This deposit is 1.5 kilometres long, 400m wide, and remains open along strike and at depth and represents only the first of 4 known zones which are being targeted to grow the resource on the overall Monte Do Carmo project land package.

Table 1. Drill hole information
UTM Coordinates, Datum: SAD69 / zone 22S.

Hole_IDEasting (m)Northing (m)ElevationDEPTH (m)dip(°)Azimuth
FSA-115 820,378.74 8,809,933.38 460.40 399.85 -31.63 110
FSA-116 820,646.37 8,810,693.34 557.36 384.09 -32.9 105
FSA-118 820,472.96 8,810,609.34 569.60 347.49 -31.19 110
FSA-119 820,346.69 8,809,532.39 471.34 354.43 -30.48 105
FSA-121 820,658.80 8,810,669.57 559.91 322.62 -32.78 110
FSA-122 820,085.71 8,809,356.36 458.13 344.29 -44.13 110
FSA-125 820,459.20 8,810,703.25 565.63 444.98 -32.91 110
FSA-132 820,584.17 8,810,310.82 572.34 609.28 -31.46 100
FSA-134 820,619.93 8,810,783.55 544.79 294.95 -31.92 95
FSA-135 820,371.38 8,809,653.72 494.22 172.02 -32.07 70
FSA-136 820,001.66 8,809,251.22 465.11 23.55 -30.70 130
FSA-137 820,694.65 8,810,301.32 679.97 425.12 -53.12 120
FSA-138 820,411.62 8,809,907.85 484.87 154.59 -37.97 120
FSA-139 820,330.94 8,809,456.05 514.00 198.81 -35.14 60
FSA-141 820,594.95 8,810,280.16 569.26 198.26 -31.56 120
FSA-142 820,411.65 8,809,907.73 485.11 433.37 -31.88108
FSA-143 820,840.05 8,810,680.87 661.04 256.93 -52.21165
FSA-144 820,330.76 8,809,455.55 514.10 54.52 -33.4686
FSA-145 820,595.20 8,810,280.06 569.11 161.69 -32.79145

 

Table 2. Drill Hole Composites 

CERRADO GOLD
DDH
From To LENGTH (m) True Width (m) Au (g/t)
FSA-115
21.30 25.73 4.43 4.43 9.31
FSA-115 and 69.00 71.03 2.03 2.03 2.36
FSA-115 and 80.00 87.10 7.10 7.10 1.48
FSA-115 and 159.92 161.00 1.08 1.08 2.01
FSA-116
247.00 248.00 1.00 1.00 1.16
FSA-118
30.86 32.00 1.14 1.14 1.06
FSA-118 and 161.46 162.48 1.02 1.02 1.94
FSA-118 and 282.90 284.06 1.16 1.16 3.28
FSA-119 and 10.17 27.87 17.70 17.70 0.77
FSA-119 and 43.77 68.30 24.53 24.53 2.22
FSA-119 includes 52.29 58.89 6.60 6.60 4.71
FSA-119 includes 63.03 68.30 5.27 5.27 3.17
FSA-119 and 247.84 261.70 13.86 13.86 2.01
FSA-119 includes 247.84 251.00 3.16 3.16 6.95
FSA-119 and 265.80 267.88 2.08 2.08 1.02
FSA-121
227.12 230.33 3.21 3.21 1.68
FSA-122
No significant values


FSA-125
No significant values


FSA-132
30.27 36.17 5.90 5.90 3.53
FSA-132 and 42.66 50.75 8.09 8.09 1.73
FSA-132 includes 48.61 50.75 2.14 2.14 3.54
FSA-132 and 55.96 58.19 2.23 2.23 10.38
FSA-132 and 84.06 92.10 8.04 8.04 1.71
FSA-132 includes 84.06 86.06 2.00 2.00 3.53
FSA-132 and 102.57 117.39 14.82 14.82 1.82
FSA-132 includes 109.20 112.30 3.10 3.10 2.77
FSA-132 and 124.52 128.60 4.08 4.08 3.18
FSA-132 includes 127.60 128.60 1.00 1.00 11.31
FSA-132 and 153.31 181.05 27.74 27.74 2.19
FSA-132 includes 153.31 154.36 1.05 1.05 23.09
FSA-132 includes 177.88 181.05 3.17 3.17 5.68
FSA-132 and 188.28 189.33 1.05 1.05 1.05
FSA-132 and 193.35 208.85 15.50 15.50 2.85
FSA-132 includes 204.70 208.85 4.15 4.15 7.15
FSA-132 and 222.10 224.03 1.93 1.93 1.92
FSA-132 and 269.93 270.93 1.00 1.00 1.97
FSA-134
No significant values


FSA-135
19.17 28.12 8.95 7.28 3.75
FSA-135 includes 25.13 28.12 2.99 2.43 9.81
FSA-135 and 31.16 34.22 3.06 2.49 0.96
FSA-135 and 39.26 40.28 1.02 0.83 1.19
FSA-135 and 43.46 45.57 2.11 1.72 1.82
FSA-135 and 49.73 57.15 7.42 6.03 0.61
FSA-135 and 66.63 76.11 9.48 7.71 2.76
FSA-135 includes 68.74 71.92 3.18 2.59 6.41
FSA-135 and 81.25 82.25 1.00 0.81 1.74
FSA-135 and 88.25 91.30 3.05 2.48 1.00
FSA-135 and 96.38 98.42 2.04 1.66 3.82
FSA-135 includes 97.38 98.42 1.04 0.85 5.95
FSA-136
No significant values


FSA-137
258.45 283.78 25.33 23.30 1.89
FSA-137 includes 259.55 261.56 2.01 1.85 9.79
FSA-137 includes 277.80 279.80 2.00 1.84 5.43
FSA-137 and 323.80 334.11 10.31 9.49 14.60
FSA-137 includes 325.88 326.90 1.02 0.94 107.77
FSA-137 includes 333.10 334.11 1.01 0.93 31.59
FSA-138 and No significant values


FSA-139
9.65 18.92 9.27 7.21 2.33
FSA-139 includes 17.84 18.92 1.08 0.84 15.96
FSA-139 and 39.15 40.15 1.00 0.78 1.78
FSA-139 and 54.35 55.35 1.00 0.78 4.60
FSA-139 and 59.31 62.46 3.15 2.45 1.46
FSA-139 and 84.82 86.91 2.09 1.63 2.01
FSA-139 and 129.14 134.40 5.26 4.09 0.94
FSA-141
33.91 38.95 5.04 5.04 1.49
FSA-141 and 40.00 41.07 1.07 1.07 1.26
FSA-141 and 43.20 44.21 1.01 1.01 1.21
FSA-141 and 67.15 70.31 3.16 3.16 0.77
FSA-141 and 76.65 86.29 9.64 9.64 4.12
FSA-141 includes 81.00 83.15 2.15 2.15 14.92
FSA-141 and 111.31 146.39 35.08 35.08 1.81
FSA-141 includes 136.14 140.30 4.16 4.16 4.61
FSA-141 includes 145.31 146.39 1.08 1.08 15.56
FSA-142
181.03 183.09 2.06 1.96 1.36
FSA-142 and 195.70 206.44 10.74 10.24 9.34
FSA-142 includes 197.80 203.23 5.43 5.18 17.28
FSA-143
233.30 234.33 1.03 0.54 2.12
FSA-144
No significant values


FSA-145
15.60 19.60 4.00 3.61 2.27
FSA-145 includes 16.60 18.10 1.50 1.35 5.09
FSA-145 and 28.31 30.38 2.07 1.87 2.44
FSA-145 and 41.71 42.78 1.07 0.96 1.18
FSA-145 and 45.80 48.83 3.03 2.73 1.91
FSA-145 and 54.00 58.05 4.05 3.65 2.83
FSA-145 includes 57.10 58.05 0.95 0.86 8.74
FSA-145 and 66.18 68.23 2.05 1.85 3.81
FSA-145 includes 66.18 67.20 1.02 0.92 6.52
FSA-145 and 87.05 108.12 21.07 19.00 1.90
FSA-145 includes 87.05 88.15 1.10 0.99 12.20
FSA-145 includes 98.40 99.40 1.00 0.90 8.16
FSA-145 and 114.42 118.46 4.04 3.64 1.15

 

Quality Assurance and Quality Control

Analytical work was carried out by ALS international lab (ALS) and SGS Geosol international Lab (SGS). The facilities of the prep labs are located in Goiânia, Brazil 835 km from MDC and in Belo Horizonte, Brazil 1,110 Km from the MDC project. MDC sends out their samples to ALS and SGS with the prep lab located in Goiânia, or in Belo Horizonte. ALS lab sends the prepared aliquots for analytical assay to their lab in Lima, Peru where the prepared samples are systematically analyzed for gold (ppm) by fire assay (Au-AA24) or gold (ppm) by metallic screen (Au-SCR24). SGS prepared samples at Belo Horizonte and at the same facility performed the fire assay (FAA505) or gold (ppm) by metallic screen (FAASCR_150_Au-Grav), the coarse fraction of metallic screen is assayed at Belo Horizonte and alternatively in Lima, Peru. Randomly the ICP (Inductively coupled plasma mass spectrometry) is done for trace elements in 4 acids (hydrofluoric, perchloric, nitric and hydrochloric) digestion (ME-MS-61) ALS and (ICP40B) SGS.

Both labs ALS and SGS have routine quality control procedures which ensure that every batch of samples includes three sample repeats and at least three commercial standards and blank. Cerrado used standard QA/QC procedures, when inserting reference standards and blanks, for the drilling program. The Reference material used are from CDN Resource Laboratories Ltd, ITAK (Instituto de Tecnologia August Kekulé Ltda.) and CTRS (Centro Tecnológico de Referência Sul Americano) suppliers included in the batches following MDC internal protocols.

Review of Technical Information

The scientific and technical information in this press release has been reviewed and approved by Robert Campbell, P.Geo., Director for Cerrado Gold Inc., who is a Qualified Person as defined in National Instrument 43-101.

For further information please contact

Mark Brennan
CEO and Co Chairman
Tel: +1-647-796-0023
mbrennan@cerradogold.com

Nicholas Campbell, CFA
Director, Corporate Development
Tel.: +1-905-630-0148
ncampbell@cerradogold.com

About Cerrado Gold

Cerrado Gold is a public gold production and exploration company with gold production derived from its 100% owned Minera Don Nicolas mine in Santa Cruz province, Argentina. The company is also undertaking exploration at its 100% owned Monte Do Carmo project located in Tocantins, Brazil. For more information about Cerrado Gold please visit our website at www.cerradogold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85451

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