Cerrado GOLD Intercepts 23.5M at 3.4G/T Au, 4.2M at 17.2G/T Au and 18.8M at 3.4G/T Au from Final Assay Results from Its Phase 1 Drilling Program at Monte Do Carmo Project IN Brazil
June 14, 2021 www.cerradogold.com
CERRADO GOLD INTERCEPTS 23.5M AT 3.4G/T AU, 4.2M AT 17.2G/T AU AND
18.8M AT 3.4G/T AU FROM FINAL ASSAY RESULTS FROM ITS PHASE 1
DRILLING PROGRAM AT MONTE DO CARMO PROJECT IN BRAZIL
• Multiple high-grade gold intercepted in all final holes
• Assays continue to intersect strong values with significant visible gold over broad
zones of mineralization.
• First hole results from Phase 2 released with intercept of 8.28 m at 3.40 g/t Au
TORONTO, ONTARIO - Cerrado Gold Inc. ("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 (“MDC”)
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. The drill results highlighted in this release are from diamond
drill holes, FSA-120, FSA-123, FSA-129, FSA-131, FSA-140, FSA-146, FSA-147 (phase 1) and FSA-148 (Phase
2).
Drill Hole Highlights (All composites are reported as true thickness):
FSA-131
• 15.54 m at 2.39 g/t Au, from 135.21 m
▪ Including 2 m at 11.49 g/t Au from 139.78 m
• 4.96 m at 11.73 g/t Au from 176.96 m
▪ Including 1.96 m at 26.73 m from 179.07 m
• 23.46 m at 3.38 g/t Au from 398.51 m
FSA-140
• 22.62m at 3.71 g/t Au, from 332.58 m
• 4.23m at 17.22 g/t Au, from 349.87 m
FSA-146
• 18.80 m at 3.45/t Au, from 91.60 m
▪ including 1.06m at 23.69g/t Au from 96.83 m
▪ and 4.13 m at 7.05g/t Au from 101.21 m
FSA-148
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• 8.28 m at 3.40 g/t Au, from 71.00 m
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 exci ted 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 current drill holes intersected broad zones of hydrothermal alteration and within these zones are
multiple higher -grade intersections with abundant points of visible gold
(https://www.cerradogold.com/crosssections). The alteration is typical for the Serra Alta deposit,
including multiple quartz veinlets, potassic and chlorotic assemblages, and sulphides (pyrite, sphalerite,
and galena) with visible gold.
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 resource s 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 Capitão, Fartura, Ferradura and Sucuri. Drilling has already begun at Capitão. Capitao
lies within a shear zone parallel to the Serra Alta deposit (about 5 Km to the south ). As at the Serra Alta
deposit, Capitão 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.
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Drill Hole Location Map
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Table 1. Drill hole information
Hole_ID Easting Northing
Elevation
DEPTH
(m) Dip (°)
Azimuth
FSA-120 820,493.75 8,810,130.87 487.15 157.18 -34.19 105
FSA-123 820,493.50 8,810,130.93 487.15 403.58 -42.75 110
FSA-129 820,674.74 8,810,545.55 660.82 586.58 -52.01 95
FSA-131 820,608.01 8,810,338.88 582.32 600.40 -33.81 84
FSA-140 820,565.79 8,810,368.16 552.59 531.94 -31.31 100
FSA-146 820,513.06 8,810,240.68 508.77 411.27 -32.13 105
FSA-147 820,330.82 8,809,455.92 514.10 397.52 -30.92 75
FSA-148 820,411.07 8,809,908.04 484.92 157.23 -35.22 75
1) Collar coordinates by GNSS TP-20 UTM Coordinates, Datum: SAD69 / zone 22S.
2) Azimuth Set by compass
3) Dip and drill hole trajectory by DEVIFLEX Devico©
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Table 2. Drill Hole Composites
DDH From To LENGTH (m) True Width (m) Au (g/t)
FSA-120 No significant values
FSA-123 243.40 244.20 0.80 0.80 1.02
FSA-123 and 283.25 284.33 1.08 1.03 0.35
FSA-129 150.33 151.42 1.09 0.85 1.00
FSA-129 and 269.19 270.18 0.99 0.89 2.40
FSA-129 and 284.80 285.80 1.00 0.90 2.09
FSA-129 and 350.14 352.28 2.14 1.93 0.53
FSA-129 and 368.40 369.40 1.00 0.90 1.38
FSA-129 and 380.40 381.50 1.10 0.99 0.88
FSA-131 71.00 73.00 2.00 1.93 1.71
FSA-131 includes 71.00 72.00 1.00 0.96 2.41
FSA-131 and 81.00 84.00 3.00 2.89 1.32
FSA-131 includes 81.00 82.00 1.00 0.96 2.52
FSA-131 and 91.00 98.00 7.00 6.75 0.87
FSA-131 and 128.80 131.03 2.23 2.15 1.30
FSA-131 and 135.21 151.32 16.11 15.54 2.39
FSA-131 includes 139.78 141.85 2.07 2.00 11.49
FSA-131 includes 148.15 149.20 1.05 1.01 5.43
FSA-131 and 176.96 182.10 5.14 4.96 11.73
FSA-131 includes 179.07 181.10 2.03 1.96 26.73
FSA-131 and 199.18 209.42 10.24 9.88 1.46
FSA-131 includes 199.18 200.18 1.00 0.96 2.95
FSA-131 and 327.30 329.34 2.04 1.97 1.33
FSA-131 includes 327.30 328.33 1.03 0.99 2.04
FSA-131 and 332.40 334.50 2.10 2.03 1.23
FSA-131 and 339.56 342.75 3.19 3.08 0.85
FSA-131 and 363.60 367.57 3.97 3.83 0.54
FSA-131 and 379.72 380.86 1.14 1.10 2.38
FSA-131 and 390.68 391.64 0.96 0.93 1.98
FSA-131 and 398.51 422.83 24.32 23.46 3.38
FSA-131 includes 408.64 409.67 1.03 0.99 45.29
FSA-131 includes 421.77 422.83 1.06 1.02 15.71
FSA-131 and 575.34 576.47 1.13 1.09 0.56
FSA-140 13.15 14.24 1.09 1.09 2.05
FSA-140 and 18.28 22.40 4.12 4.12 1.24
FSA-140 and 47.95 48.99 1.04 1.04 1.89
FSA-140 and 71.05 81.50 10.45 10.45 1.74
FSA-140 includes 71.05 73.12 2.07 2.07 7.23
FSA-140 and 121.14 123.18 2.04 2.04 1.01
FSA-140 and 197.46 199.38 1.92 1.92 1.20
FSA-140 and 332.58 355.20 22.62 22.62 3.71
FSA-140 includes 335.00 336.05 1.05 1.05 7.29
FSA-140 includes 349.87 354.10 4.23 4.23 17.22
FSA-140 and 367.15 368.30 1.15 1.15 1.58
FSA-140 and 408.97 410.90 1.93 1.93 0.79
FSA-140 and 487.33 488.42 1.09 1.09 1.01
FSA-146 38.76 39.82 1.06 1.06 2.74
FSA-146 and 50.28 55.41 5.13 5.13 3.11
FSA-146 includes 52.29 53.35 1.06 1.06 12.77
FSA-146 and 80.50 84.49 3.99 3.99 0.89
FSA-146 and 91.60 110.40 18.80 18.80 3.45
FSA-146 includes 96.83 97.89 1.06 1.06 23.69
FSA-146 includes 101.21 105.34 4.13 4.13 7.05
FSA-146 and 124.75 125.75 1.00 1.00 2.23
FSA-146 and 130.78 132.81 2.03 2.03 1.27
FSA-147 93.12 94.19 1.07 0.91 1.19
FSA-147 and 176.55 179.68 3.13 2.66 0.76
FSA-147 includes 176.55 177.63 1.08 0.92 1.50
FSA-147 and 257.10 258.17 1.07 0.91 1.17
FSA-148 71.00 80.32 9.32 8.28 3.40
FSA-148 includes 76.18 77.20 1.02 0.91 8.34
FSA-148 includes 79.28 80.32 1.04 0.92 8.05
FSA-148 and 86.57 88.71 2.14 1.90 1.52
FSA-148 and 94.20 95.21 1.01 0.90 1.56
FSA-148 and 127.27 130.52 3.25 2.89 0.69
FSA-148 and 137.88 138.83 0.95 0.84 12.16
FSA-148 and 149.64 150.76 1.12 0.99 2.75
CERRADO GOLD
*Composites Cut-off grade 0.49 Au g/t
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Quality Assurance and Quality Control
Analytical work was carried out by ALS international lab (ALS) and SGS Geosol International Lab
(SGS). MDC sends half core samples for sample preparation to the lab . ALS sample preparation
facilities are located in Goiânia, Brazil 835 km from MDC and alternatively in Belo Horizonte, Brazil
1,110 Km from the MDC project. SGS sample preparation facilities are located in Belo Horizonte. ALS
lab sends the prepared aliquots for analytical assay to their lab in Lima, Peru where the prepared
samples are systematically analyzed for gold (ppm) by fire assay (Au-AA24) or gold (ppm) by metallic
screen (Au-SCR24). Randomly the ICP (Inductively coupled plasma mass spectrometry) is done for
trace elements in 4 acids (hydrofluoric, perchloric, nitric and hydrochloric) digestion (ME-MS-61).
SGS prepares samples at Belo Horizonte and at the same facility perform s gold assays by fire assay
(FAA505) or metallic screen (FAASCR_150_Au-Grav), the coarse fraction of metallic screen is assayed
at Belo Horizonte and alternatively in Lima, Peru.
Both labs, ALS and SGS, have routine quality control procedures which ensure that every batch of
samples includes three sample repeats and at least two commercial standards and two blanks.
Cerrado uses standard QA/QC procedures, inserting reference standards and blanks, for the drilling
program. The Reference material used are from CDN Resource Laboratories Ltd. and ITAK (Instituto
de Tecnologia August Kekulé Ltda.).
Review of Technical Information
The scientific and technical information in this press release has been reviewed and approved by
Sergio Gelcich ., Vice President, Exploration for Cerrado Gold Inc., who is a Qualified Person as
defined in National Instrument 43-101.
For further information please contact
Mark Brennan Nicholas Campbell, CFA
CEO and Co Chairman Director, Corporate Development
Tel: +1-647-796-0023 Tel.: +1-905-630-0148
[email protected] [email protected]
About Cerrado Gold
Cerrado Gold is a public gold producer and exploration company with gold production derived from its
100% owned Minera Don Nicolás 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. For more
information about Cerrado Gold please visit our website at: www.cerradogold.com.