Cerrado Gold Update
September 20, 2018
Please excuse the silence from my last missive but it was important to ensure that we had a clear path prior to providing a new update.
While the commodity markets continue to be shaken by trade wars and the strong dollar, Cerrado has made good progress to advance the Serra Alta deposit.
Recall; the objective we held a year ago was to delineate 2-2.5 million high grade, open-pit ounces at Serra Alta and then find additional ounces at other lookalike deposits on the Monte do Carmo property.
As can be seen from the internal resource model (non 43-101 compliant) and the presentation attached, we are making good strides with that goal.
We are currently at over 800,000 ounces (again internal non 43-101 compliant model) at a mineable grade of just over a gram/ tonne (1g/t) and at just under 600,000 ounces at a high grade of 2.21 g/t.
This is based on assays from 71 holes out of an 82 hole drill program (approx. 11,000 metres). On October 5th, we will cut off the drilling and use assays from these holes for our 43-101 Resources and Reserves Report which is due mid-November.
The NI43-101 Resource Report is being conducted by Terry Hennessey at Micon, who was on the property last week to review our progress. He is very highly regarding by the mining community.
We remain very positive on the prospects for Serra Alta as well as for other potential new deposits on our property. As such we have started field work; trenching, sampling and mapping at other areas which will lead to drilling in the not too distant future.
I would welcome any questions you may, thanks again for your continued support.