Brazil-focused explorer Serabi Mining PLC (LON:SRB, TSE:SBI) said that, according to a new survey, the strike of the recent Piaui gold discovery could be much longer than originally thought.
A recently completed geophysical Induced Polarization (IP) survey has indicated the possibility that the Piaui discovery, which was initially estimated to have a 300 metre strike length, could now extend to a strike length of over 1,400 metres.
The same IP survey between the Curretela prospect and the recent Espeto discovery indicates strong geophysical anomalism between the two, a strike length of some 900 metres.
The IP data has potentially increased the strike length of the mineralised structure which hosts the Palito Main Zone (PMZ) and the Espeto and Currutela prospects to over 4 kilometres.
Chief executive Mike Hodgson said: "The Piaui drilling to date has rewarded us with some excellent intersections over the initial target strike length of 300 metres, so the potential to extend and test this zone over 1,400 metres is highly encouraging.”
As a direct result of the new data, Serabi has extended its current 8,100 metres discovery drill programme, adding a further 2,000 metres of drilling with much of this initially focused on the Piaui mineralised target.
It will start a 1,700 metres infill and extension drilling programme this week at Piaui to test the central 300 metres strike of the prospect. A further 500 metres of drilling will also target the new coincident anomaly area along strike to the east.