Serabi Gold plc is a gold exploration and production company involved in the evaluation and development of gold deposits in Brazil.  the Company’s primary interests are its 100% owned Palito Mining Complex and the more recently acquired Coringa Gold Project  both located in the Tapajos region of northern Brazil.  The Palito Mining Complex includes over 50,800 hectares of contiguous and highly prospective exploration tenements that the Company controls, whilst the Coringa project forms part of a eight kilometre continuous strike of historic artisanal mine workings and includes seven separate concessions totalling over 13,000 hectares.  Combined gold production from the Palito Mining Complex is currently approximately 40,000 ounces per annum, whilst the Coringa Project, when in production, is forecast to produce an average of 38,000 ounces per annum. 

The Palito Mining Complex comprises the Palito and Sao Chico orebodies, which provide ore feed to a centralised 500tpd central processing plant.

Both mines are narrow vein underground mining operations with mined ore grades typically of between 7.000 g/t and 9.00 g/t being achieved.  Mining at Palito uses shrinkage stoping whilst Sao Chico is a narrow vein longhole stoping operation.

The Company acquired the Coringa Project in December 2017 and is in the process of obtaining the necessary permits to commence development and construction of the plant which had been acquired by the previous owner.  Coringa, which has an average Measured and Indicated Resource grade of 8.24 g/t, will be operated as a narrow vein, underground mining operation and therefore has significant operational similarities to the Company’s existing mining operations.

Operational cash-flow generated by the  mining operations will be used to fund future exploration and development activities.

Serabi’s shares are listed on the AIM market of the London Stock Exchange under the ticker symbol SRB and on the Toronto Stock Exchange under the ticker symbol SBI.