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Cerrado Gold Inc.
Cerrado Gold Inc.
Registriert in: Kanada WKN: A2QQRF Rohstoffe:
Art: Originalaktie ISIN: CA1567881018 Gold
Silber
Heimatbörse: TSX Venture Alternativ: CRDOF
Währung: CAD    
Symbol: CERT.V Forum:

Cerrado Gold Provides Update to Ongoing Infill and Exploration Drill Programs at Its Monte Do Carmo Project, Brazil

06.06.2022 | 12:00 Uhr | Newsfile
  • Continued positive results from infill drill program at the Serra Alta deposit including:
    • FSA-206: 7.65 m at 15.37 g/t Au, from 79.10 m;
    • FSA-199: 41.90 m at 3.94 g/t Au, from 301.24 m ; and
    • FSA-204: 34.35 m at 1.76 g/t Au, from 37.28 m.

  • Program on track for Q3 2022 Resource update
  • Drill program at Gogó da Onça providing encouraging results

Toronto, June 6, 2022 - Cerrado Gold Inc. (TSXV: 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 located in Tocantins State, Brazil ("MDC"). The infill drill program commenced in Q4 2021 with the aim to upgrade existing Resources and to support the ongoing Feasibility study. The program is on track to deliver the updated Resources in Q3 2022 and the Feasibility study in 1Q 2023.

The Company is reporting assay results from 10 drill holes (see Tables 1 & 2) completed from February to April 2022. An additional 61 holes (including exploration holes) have been completed as of May 27th with assays pending. The infill results reported today show excellent grade and width reconciliation from the inferred blocks,

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

Serra Alta (Infill)

FSA-206

  • 7.65 m at 15.37 g/t Au, from 79.10 m

FSA-199

  • 41.90 m at 3.94 g/t Au, from 301.24 m
    • Including 7.18 m at 12.92 g/t Au from 319.34 m

FSA-204

  • 34.35m at 1.76 g/t Au, from 37.28 m
    • Including 5.96 m at 7.0 g/t Au from 51.85 m

At Cerrado's newest target; Gogó da Onça ("Gogo"), the initial drill campaign is demonstrating numerous similarities to the Serra Alta deposit. Visual inspection and logging of the five holes drilled to date has identified visible gold in four of five holes. The Company is working towards an outline of mineralization continuity and conceptual estimates of possible tonnage with additional drilling.

Mark Brennan, CEO and Co-Chairman commented "As we near completion of the Infill drill program at Serra Alta, we continue to expect good conversion of our Inferred Resources to the Measured and Indicated categories to support the upcoming Feasibility study. Additionally, preliminary results of the exploration program at Gogo show potential to add additional near-pit resources and grow the resource base in the near term."

As of May 27th, the Company has received and is reporting results from 10 new drill holes totaling 2,352 metres out of a planned 23,000 metres infill/Geotech/condemnation campaign. As of May 27th, assays have been received and reported for 17 holes over 4,417 metres and a total of 66 holes and 14,189 metres have been completed. The Company currently has 7 drill rigs on site actively drilling, with six rigs focused on infill and geotechnical programs and a seventh actively drilling the first holes at Gogo North.

Serra Alta Infill Drilling

The 10 Infill holes reported today intercepted the high-grade gold domain in the Serra Alta block model used to constrain the grade estimation in the current resource (see Figure 1 for drill hole locations, and Figure 2 for relevant cross sections). These new intercepts confirm the general continuity of this domain both along strike and laterally.

Drill holes FSA-189, FSA-190, FSA-193 and FSA-199 were collared in the East Zone. The best results include FSA-199 with 41.90 m at 3.94 g/t Au, from 301.24 m, including 7.18 m at 12.92 g/t Au from 319.34 m; FSA-190 with 6.88 m at 2.08 g/t Au, from 132.76 m, including 1.68 m at 5.56 g/t Au from 139.06 m; FSA-189 with 12.38 m at 2.30 g/t Au, from 48.59 m, including 3.24 m at 7.05 g/t Au from 48.59 m.

Drill holes FSA-191, FSA-196 and FSA-204 were collared at the northern edge of Pit Sul. Drill holes FSA-191 & FSA-196 failed to reproduce the expected shape of the HG domain but the third, FSA-204 intercepted 34.35 m at 1.76 grams per tonne gold ("g/t Au"), from 37.28 m.

Drill holes FSA-198, FSA-203 and FSA-206 were collared at Pit Norte at shallow angles confirming the general attitude the Granite / Quartzite contact zone that acts as a hard domain boundary. Notable results include FSA-206 with 7.65 m at 15.37 g/t Au, from 79.10 m; and FSA-198 with 12.79 m at 1.72 g/t Au, from 40.70 m.

Satellite Exploration: Gogó da Onça

As reported in April 2022, Cerrado has commenced drilling at its recently acquired claim at Gogó da Onça. Field work, drilling and characterization of Gogo has demonstrated similarities with the main mineralization controls at the Serra Alta deposit, including:

  • granite/Felsic Volcanic contact (presumed Cupola, as developed in the East Zone);
  • outcropping quartz veins with sulphide stains;
  • mid grain texture granite;
  • potassic alteration; and
  • presence of artisanal historic working (Garimpos).

To date, 5 drill holes have been completed at Gogo (FGO-001 to FGO-005) with assays pending. Four of the five holes have visible gold associated both with shear and extensional quartz veins. The Company believes that first outline of the mineralization continuity and possible conceptual estimates of tonnage could be achieved.



Figure 1. Reported and Ongoing Drill Hole Locations

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7487/126550_39fe134364685a47_002full.jpg



Figure 2. Cross Sections of highlighted Drill Holes*

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7487/126550_39fe134364685a47_003full.jpg

* Note sections are shown at different scale

Table 1. Drill Hole locations

Sector Hole UTM E UTM N Elevation Depth Azimuth Dip
East
Zone
FSA-189 8,810,300.30 820,600.12 579.08 229.28 121.00 - 31.44
FSA-190 8,810,582.74 820,574.92 664.52 239.55 91.85 - 56.10
FSA-193 8,810,394.96 820,700.88 672.75 500.20 110.83 - 46.88
FSA-199 8,810,436.97 820,779.13 665.21 490.33 91.15 - 57.37
Pit
Norte
FSA-198 8,809,921.97 820,310.19 451.91 159.43 90.09 - 50.38
FSA-203 8,810,037.94 820,433.00 467.93 163.33 101.65 - 45.57
FSA-206 8,809,995.63 820,473.35 476.31 116.66 102.09 - 48.15
Pit
Sul
FSA-191 8,809,731.20 820,403.83 551.69 140.50 127.16 - 43.57
FSA-196 8,809,650.27 820,201.59 417.93 154.10 99.64 - 38.15
FSA-204 8,809,653.49 820,371.13 494.22 159.17 122.00 - 19.88

*Collar coordinates by GNSS TP-20 UTM Coordinates, Datum: SAD69 / zone 22S.
*Azimuth Set by compass
*Dip and drill hole trajectory by DEVIFLEX Devico

Table 2. Drill Hole Composites - Infill Drilling

CERRADO GOLD
DDH From To LENGTH (m) True Width (m) Au (g/t)
East Zone FSA-189 36.10 45.10 9.00 9.00 0.40
FSA-189 and 48.59 60.97 12.38 12.38 2.30
FSA-189 Includes 48.59 51.83 3.24 3.24 7.05
FSA-189 and 65.30 70.85 5.55 5.55 1.70
FSA-189 Includes 65.30 67.68 2.38 2.38 3.67
FSA-189 and 75.00 80.15 5.15 5.15 1.20
FSA-189 and 96.48 97.51 1.03 1.03 2.72
FSA-189 and 104.22 105.32 1.10 1.10 0.56
FSA-189 and 113.95 150.09 36.14 36.14 1.44
FSA-189 Includes 116.37 128.41 12.04 12.04 3.01
FSA-189 and 167.35 177.41 10.06 10.06 0.60
FSA-190 132.76 141.09 8.33 6.88 2.08
FSA-190 Includes 139.06 141.09 2.03 1.68 5.56
FSA-190 and 154.00 171.37 17.37 14.34 1.03
FSA-190 Includes 160.33 162.85 2.52 2.08 2.07
FSA-190 and 179.60 182.69 3.09 2.55 0.86
FSA-190 and 212.73 213.73 1.00 0.83 0.72
FSA-193 301.37 302.39 1.02 0.95 0.68
FSA-193 and 393.00 394.04 1.04 0.97 1.33
FSA-199 and 260.96 270.25 9.29 8.88 1.33
FSA-199 includes 260.96 263.00 2.04 1.95 3.98
FSA-199 and 280.38 281.49 1.11 1.06 0.52
FSA-199 and 286.82 287.90 1.08 1.03 0.89
FSA-199 and 301.24 345.09 43.85 41.90 3.94
FSA-199 includes 319.34 326.85 7.51 7.18 12.92
FSA-199 and 353.35 354.40 1.05 1.00 9.38
FSA-199 and 425.23 426.06 0.83 0.79 0.56
Pit Norte FSA-198 16.05 21.02 4.97 4.97 0.28
FSA-198 and 34.69 35.91 1.22 1.22 0.34
FSA-198 and 40.70 53.49 12.79 12.79 1.72
FSA-198 includes 46.59 48.73 2.14 2.14 6.67
FSA-198 and 59.09 60.16 1.07 1.07 0.67
FSA-198 and 62.36 63.60 1.24 1.24 0.35
FSA-198 and 80.97 82.15 1.18 1.18 1.06
FSA-198 and 95.47 96.51 1.04 1.04 0.30
FSA-198 and 97.67 98.84 1.17 1.17 0.31
FSA-198 and 106.28 107.15 0.87 0.87 0.34
FSA-203 7.69 8.95 1.26 1.23 0.49
FSA-203 and 11.16 12.43 1.27 1.24 0.43
FSA-203 and 56.21 57.43 1.22 1.19 0.36
FSA-203 and 62.16 68.67 6.51 6.33 0.53
FSA-203 and 72.10 73.28 1.18 1.15 0.66
FSA-203 and 89.14 90.30 1.16 1.13 0.38
FSA-203 and 94.70 98.00 3.30 3.21 0.41
FSA-203 and 106.82 107.88 1.06 1.03 2.26
FSA-203 and 118.19 119.29 1.10 1.07 0.43
FSA-203 and 140.33 141.38 1.05 1.02 0.34
FSA-206 20.90 22.00 1.10 1.01 3.51
FSA-206 and 39.48 70.47 30.99 28.49 1.10
FSA-206 includes 49.27 51.43 2.16 1.99 2.80
FSA-206 includes 65.03 66.21 1.18 1.08 11.20
FSA-206 and 79.10 87.42 8.32 7.65 15.37
Pit Sul FSA-191 and 113.26 120.70 7.44 6.40 0.53
FSA-196 No significant values
FSA-204 and 16.68 17.82 1.14 0.95 0.62
FSA-204 and 30.06 33.25 3.19 2.66 1.50
FSA-204 and 37.28 78.45 41.17 34.35 1.76
FSA-204 includes 51.85 59.00 7.15 5.96 7.00
FSA-204 includes 73.35 77.44 4.09 3.41 2.89
FSA-204 and 86.62 87.70 1.08 0.90 0.60
FSA-204 and 90.70 98.98 8.28 6.91 2.21
FSA-204 includes 97.98 98.98 1.00 0.83 14.65
FSA-204 and 105.40 106.64 1.24 1.03 1.25
FSA-204 and 116.60 117.66 1.06 0.88 6.08
FSA-204 and 144.00 148.02 4.02 3.35 0.77

Quality Assurance and Quality Control

Analytical work was carried out by ALS international lab (ALS). MDC send half core samples for sample preparation to the lab. The facilities of the prep lab are located in Goiânia, Brazil 835 km from the MDC project and alternatively in Belo Horizonte, Brazil 1,110 Km from the MDC project. MDC sends out samples to ALS international labs (ALS) with the prep lab located in Goiânia or alternatively 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). 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 has routine quality control procedures which ensure that every batch of samples includes three sample repeats and at least two commercial standards and two blanks. Cerrado uses standard QA/QC procedures, 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 OREAS).

Review of Technical Information

The scientific and technical information in this press release has been reviewed and approved by Sergio Gelcich., Vice President, Exploration 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 private 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 and development activities 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

Disclaimer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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 business and operations of Cerrado Gold. In making the forward-looking statements contained in this press release, Cerrado Gold has made certain assumptions, including, but not limited to the Company's ability to increase the scale of the Monte Do Carmo resource base and the exploration potential of Gogo North. Although Cerrado Gold believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado Gold disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126550

 
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