As advised in the Notice of Meeting issued on
Typically, the Company's Chief Executive,
Exploration
The Company has, with surface drilling in the Sao Chico area, been testing the strike extension to the west towards the geophysical anomalies of Abela, Besouro and Cicada.
Exploration tenements have been secured and trial mining licence for Sao Chico extended to incorporate the areas that host these geophysical anomalies.
Over the wider tenement a six month soil geochemistry programme was undertaken initially identifying areas of anomalous copper coincident with EM anomalies themselves indicators of sulphide bodies that could be gold bearing. Now in process of re-analysing key areas for gold.
Juca and Calico areas to the south of Palito are very exciting and have coincident geophysical, geochemical and gold anomalies and similar rock types to Palito.
Exploration drilling activities remain suspended at this time.
2020 operations
Strong production in March and
Workforce at site has been reduced to essential production personnel only to improve social distancing. With staffing levels at site being reduced by approximately 30 to 35 percent, production for Q2 2020 is expected to be approximately 8,000 ounces, an excellent result in the circumstances.
Staff are being tested prior to arrival at site and are completing health and symptom interviews. This is allowing Company to start rotating larger numbers of staff.
Q3 production expected to be at similar levels to Q2, if current conditions in
Corporate
The Company expects to have paid off its secured loan with
Cash balances at the end of
Contact:
Tel: +44 (0)20 7246 6830
Email: contact@serabigold.com
Web: www.serabigold.com
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