Serabi Gold PLC - London-based Brazil-focused gold miner - Confirms ‘amenability’ to ore sorting with a greater than three times improvement in grade at its Coringa project from initial ore sorting test work. The development project is located in the Tapajos region of Brazil.

Says its underground development continues to generate high-grade ore. Makes a metallurgical recovery of 96% achieved from processing bulk samples through the Palito processing plant.

‘The results from Coringa continue to be excellent and it is particularly pleasing to demonstrate that ore sorting works so well and in addition to achieve an impressive metallurgical recovery of 96%,’ Chief Executive Mike Hodgson says.

‘Underground mine development is continuing, with over 200 metres of on-lode development now completed. This is enhancing our understanding of the ore-body and also providing a stockpile of high-grade ore that in the near term we will truck to Palito to generate additional gold production and revenue.’

Current stock price: 42.00 pence, up 6.3% on Monday

12-month change: down 35%

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