Brazilian gold resource boost for Serabi Mining

London-listed gold exploration company Serabi Mining has released results of positive recent developments at the Palito Gold Mine in northern Brazil's Tapajos Region.

At its 100 per cent owned primary operation, Serabi declared growing resource potential, particularly at the Palito West hole'. Structural continuity was reported to be extended by 120 metres, while geophysical tests across the site indicated potentially significant continuation of the structure to the south-east.

Two recent holes successfully intersected what was described as "excellent visual sulphide rich mineralization," with a second parallel lode to Palito West returning an intercept of one meter at 24.64 g/t gold.

Serabi has based an extensive exploration programme in the Tapajos region, based around the ownership of four surface drilling rigs and its own assay laboratory.

The exploration company is listed on the London AIM stock market, an alternative market for investment in smaller companies starting to grow, with Serabi hoping to boost its value through the positive discoveries.

Expanding the Palito West resources is now a priority for Serabi, the company announcing planned optimization of capital development for the site so as to make the deposit operational as soon as possible.