Serabi Reports 20,831m Drilling at Palito and Coringa

Serabi Gold has advanced its 2026 brownfield exploration programme at the Palito Complex and Coringa Mine, completing 20,831 metres of diamond drilling during the first half of the year. This activity forms the second year of the company's Phase II organic growth strategy, which aims to expand the group’s total mineral inventory to over 1.5 million ounces of gold by October 2026. The immediate objective is to delineate near-mine mineralization to support production growth at both Brazilian sites.

Recent drill results from the 2026 programme indicate continued potential for resource expansion. Notable intercepts include 0.42 metres grading 37.10 g/t Au at Coringa Serra South and 0.25 metres at 40.30 g/t Au at Coringa Cabaça. These high-grade sections support the company's interpretation of new structural trends, particularly within the G1-G3 corridor at Palito, where additional drilling is scheduled for the second half of 2026.

Drilling Program Progress

The total 2026 brownfield exploration programme is scoped at 32,000 metres across the two sites. As of the update, six drill rigs are operating simultaneously to maintain coverage of main zones while optimizing resource allocation. The drilling split comprises 11,522 metres across 37 holes at Palito and 9,309 metres across 42 holes at Coringa. This focused effort allows the exploration team to reduce rework and improve operational efficiency while testing specific priority trends identified in recent reinterpretations.

The company emphasizes a proactive stance in targeting high-probability mineralization. By concentrating efforts on specific structural corridors, Serabi aims to maximize the probability of converting inferred resources into measured and indicated categories. This approach is designed to streamline the path from exploration to production, ensuring that capital is directed toward the most promising geological targets at both Palito and Coringa.

Resource Base Expansion

The 2025 brownfield exploration programme already increased consolidated Measured and Indicated resources to 730,800 ounces of contained gold, equivalent to 2,485,800 tonnes at 9.1 g/t Au. Consolidated inferred resources also grew to 653,300 ounces, representing 2,506,700 tonnes at 8.1 g/t Au. These figures establish a solid baseline for the current 2026 campaign, which seeks to build upon this inventory to reach the strategic target of 1.5 million ounces.

All validated results from the ongoing 2026 drilling campaign will be incorporated into updated Mineral Resource Estimates for Palito and Coringa. Serabi expects to publish these revised estimates during the first quarter of 2027. This update will reflect the new geological data and structural interpretations gathered in the first half of 2026, providing a clearer picture of the long-term production potential for the Brazilian portfolio.

Strategic Growth Outlook

Mike Hodgson, CEO of Serabi, stated that the drill bit continues to yield success in the second year of the brownfield programme. He noted that the published high-grade results demonstrate the potential to delineate larger resources at both sites. The company plans to conclude the 2026 programme in October, leveraging its proven exploration and permitting expertise to unlock further value across its asset base, as reported by yahoo.com.