Serabi Gold plc




2012 / 05 / 11




2.5% NSR

The Coringa project is located in the Tapajós Gold Province in Para State, Brazil approximately 200 km from Serabi’s Palito mine, an operation that has been producing gold since 2014. Like Palito, Coringa contains high grade gold in quartz veins with base metal sulphides. The veins are hosted by granite, rhyolites and volcanic breccias.

The technical report supporting the Preliminary Economic Assessment filed in September 2019 anticipates a 465 tpd underground operation using open stoping mining methods. Ore will be processed through the Andorinhas plant (acquired from Troy Resources Limited in 2016) using gravity concentration followed by carbon-in-leach cyanidation of gravity tails. The estimated gold and silver recovery during the life of the mine is 95% for gold and 61% for silver. Gold production is expected to average 38 kozs per year over an initial 9-year mine life.

The current Indicated Mineral Resource estimate consists of 735 kt grading 8.2 g/t gold containing 195 kozs of gold (2.0 g/t cut-off). Another 1.6 Mt were listed in the Inferred Mineral Resource category (2.0 g/t cut-off).

Recent Activity

    April 2024

    Mine activities continued to advance at Coringa, with the project receiving a renewal of the trial mining license for a three-year period and the arrival of the ore sorter which is expected to be operational by Q4-2024. Work has also begun on an updated Preliminary Economic Study that incorporates a revised geological resource, mineral reserve as well as a review of the planned use of the facilities at the nearby Palito Complex.

    January 2023

    Coringa mine development continued to progress well with 1,791 metres of development completed during 2022. The main ramp has now reached the 290mRL, which is under development.

    June 2022

    Mine development at Coringa continues to generate positive results with metallurgical recovery of 96% achieved from processing a bulk sample through the Palito processing plant. Underground development continues, with over 200 m of on-lode development now completed.

Use the link below to browse a list of available technical reports for the projects within Sandstorm’s portfolio. For the most up-to-date information on each project, please refer to the project operator or developer.

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