Today the Company is reporting 10 drill holes (see Tables 1 & 2) exclusively from Gogo?, a new satellite exploration target at MDC. As of
Drill Hole Highlights (All composites are reported as true thickness):
FGO-004 25.1m at 3.38 g/t Au from 56.5m o including 6.5m at 6.20 g/t Au from 57.9m FGO-005, 2.7m at 12.74 g/t Au from 57.9m
FGO-008
12.5m at 3.39 g/t Au from 119.0m o including 5.0m at 5.93 g/t Au from 121.3m FGO-012, 11.7m at 5.37 g/t Au from 93.6m including 3.1m at 13.78 g/t Au from 97.0m
Gogo? Results
Drilling at Gogo? has outlined shallow mineralization for a strike length of 250 meters. Cerrado believes that the Gogo? satellite deposit can provide additional resources to
The company announced results of the discovery hole, FGO-001 (7.1m at 1.16 Au g/t from 50.7m and 20.4m at 0.78 g/t Au from 96.2m) at Gogo? on
Hole FGO-004 was collared 45m to the north of the discovery hole and returned the best intercept to date of 25.1m at 3.38 g/t Au from 56.5m, including 6.5m at 6.20 g/t Au from 75.1m. It is important to note that this hole was drilled at a shallow angle of 34 degrees, thus the mineralized interval is only 30m deep relative to the surface topography. Hole FGO-004 was collared in the same location as hole FGO-003. Hole FGO-003 was drilled up dip and intersected mostly felsic volcanic rocks, failing to reach the mineralization hosting granitic rocks.
Hole FGO-005 returned 2.7m at 12.74 g/t Au from 57.9m on a shear vein, this intercept, located approximately 30m north along strike of the one described in hole FGO-004 defines the current north edge of the mineralized corridor.
Hole FGO-008 was collared at the same location as the discovery hole and targeted up dip continuity of the high-grade domain, successfully intercepting quartz vein hosted mineralization at shallower level and defining an approximate 30m extent along the dip direction of the high-grade domain. The best intercept includes 12.5m at 3.39 g/t Au from 119.0m. Additionally hole FGO-008 intercepted 24.7m at 0.77 g/t Au from 44.4m (true depth of approximately 20m) in the hanging wall of the high-grade domain.
Contact:
CEO and
Tel: +1-647-796-0023
E: mbrennan@cerradogold.com
Vice President
Corporate Development
Tel: +1-647-796-0068
E: dball@cerradogold.com
About Cerrado
Cerrado is a
At Minera Don Nicolas, Cerrado is maximising asset value through further operation optimization and continued production growth. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package.
At Monte Do Carmo, Cerrado is rapidly advancing the Serra Alta deposit through Feasibility and production. The Serra Alta deposit Indicated Resources of 541 kozs of contained gold and Inferred Resources of 780 kozs of contained gold. The Preliminary Economic Assessment demonstrates robust economics as well as the potential to be one of the industry's lowest cost producers. Cerrado also holds an extensive and highly prospective 82,542 ha land package at Monte Do Carmo.
For more information about Cerrado please visit our website at: www.cerradogold.com.
This press release contains statements that constitute 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation, all statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements regarding the resource potential of the Gogo? deposit and its inclusion into the Feasibility Study. In making the forward- looking statements contained in this press release,
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