Toronto - Cerrado Gold Inc. (TSXV: CERT) ('Cerrado' or the 'Company') is very pleased to announce the final assay results from its Phase 1 drill program at the Serra Alta deposit at its Monte do Carmo Project located in Tocantins State, Brazil.
The Company is reporting the last 7 drill holes, out of a total of 55 drill holes completed in the Phase 1 program and is also reporting the first drill hole result from its recently commenced Phase 2 drill program.
Mark Brennan, CEO and Co-Chairman, commented 'The ongoing results from our drill program continues to support our positive outlook for the Serra Alta deposit. With all the assays delivered from Phase 1, we will now work to update the Mineral Resource Estimate which in turn, will be used to develop a new Preliminary Economic Assessment using an expected expanded resource at Serra Alta. We are also excited to have commenced the Phase 2 program which will not only further define the Serra Alta deposit but will also begin to drill some of the regional targets which we believe will demonstrate the large regional potential of the Monte Do Carmo district.'
The drill results reported in this press release were received up until June 7th , 2021 and represent the last assay batches of the Phase 1 program. The results reported today continue to emphasize the rate of gold continuity confirmation and expansion, and jointly with the results previously disclosed will be incorporated into a new resource update expected to be completed by the beginning of July. The Company's geological team has completed the update of the high-grade gold estimation domain to be used in the new resource estimate proving extended segments with relevant lateral extent of vein swarms (East Zone) to the east, close to the buried contact of the hosting granodiorite and felsic volcanics.
The first phase of the current drill program at Serra Alta, which began at the end of September 2020 and was completed in May 2021, followed the success of the 2018 drill program which resulted in a NI43-101 compliant resource estimate with an effective date of December 5, 2018 of an inferred resource totaling 813,000 oz of gold contained within 13,639,000 tonnes grading 1.85 g/t Au. This resource was disclosed in our recent technical report (PEA) titled 'Independent Technical Report -Preliminary Economic Assessment for Serra Alta Deposit', which is available under the Company's profile on SEDAR, filed on December 2, 2020.
The completed Phase I program consisted of 19,389 metres of drilling; mainly lateral and downdip step-out holes to extend the mineralized domain within the current pit outline and also included infill drilling to upgrade the resource base to the Measured and Indicated resource categories. The Serra Alta deposit has a 1.5 kilometres long strike, is 400m wide, and remains open along strike and at depth and represents only the first of 4 known zones which are being targeted to grow resources on the Monte Do Carmo project land package.
The Phase II drill program targets an additional 14,000m of drilling at Serra Alta and other satellites targets including Capitao, Fartura, Ferradura and Sucuri. Drilling has already begun at Capitao. Capitao lies within a shear zone parallel to the Serra Alta deposit (about 5 Km to the south). As at the Serra Alta deposit, Capitao mineralization is associated with the same granite intrusion in contact to equivalent quartzite and Devonian horizontal sediment. This target was partially drilled by Kinross in 2007 and has been mined by garimpeiros along a minimum exposed strike distance of 300m.
Contact:
Mark Brennan
Tel: +1-647-796-0023
Email: mbrennan@cerradogold.com
About Cerrado Gold
Cerrado Gold is a public gold producer and exploration company with gold production derived from its 100% owned Minera Don Nicolas mine in Santa Cruz province, Argentina. It also owns 100% of the assets of Minera Mariana in Santa Cruz province, Argentina. The company is also undertaking exploration at its 100% owned Monte Do Carmo project located in Tocantins, Brazil.
CERRADO GOLD INC. 
