Cerrado GOLD Reports Additional Results from Its Infill Drill Program at the Serra ALTA Deposit at Its Monte Do Carmo Project IN Brazil
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August 8, 2022 www.cerradogold.com
CERRADO GOLD REPORTS ADDITIONAL RESULTS FROM ITS INFILL DRILL PROGRAM AT
THE SERRA ALTA DEPOSIT AT ITS MONTE DO CARMO PROJECT IN BRAZIL
• Notable results in all three zones of the deposit (East Zone, Pit Norte, and Pit Sul) Including:
• FSA-241: 71m at 2.50 g/t Au from 113m;
• FSA-249: 25m at 3.23 g/t Au from 55m;
• FSA-223: 29m at 2.36 g/t Au from 186m;
• FSA-243: 32m at 2.60 g/t Au from 85m; and
• FSA-251: 6m at 4.52 g/t Au from 29m.
• Drill Program on track to deliver an updated Mineral Resource Estimate (MRE) in support
of the ongoing Feasibility Study.
TORONTO, ONTARIO - Cerrado Gold Inc. [TSX.V: CERT][OTCQX:CRDOF] ("Cerrado" or the
"Company”) is pleased to announce further assay results from its ongoing infill drill program at the
Serra Alta deposit at its Monte do Carmo Project located in Tocantins State, Brazil (“MDC”). The infill
drill program commenced in Q4 2021 with the aim to upgrade the resources into Measured and
Indicated categories to support the ongoing Feasibility Study. The 2022 development program is on
track to deliver the Feasibility Study during Q1 2023.
The Company is currently reporting assay results from 18 drill holes, totaling 3,809m (see Tables 1
& 2) completed from April to June 2022. As of August 2, 2022, a total of 117 drill holes, totaling
28,864 m, have been completed as part of the 2022 program. Total completed holes include 102
holes at Serra Alta (infil l, condemnation, and partial extensions); and 1 5 holes in the satellite
exploration areas namely, Gogó de Onça and Capitão.
Drill Hole Highlights (All composites are reported as true thickness):
Serra Alta (Infill)
FSA-241
• 71m at 2.50 g/t Au from 113m
• Including 6.5m at 17.28 g/t Au from 119m
FSA-249
• 25m at 3.23 g/t Au from 55m
• Including 2m at 19.76 g/t Au from 78m
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FSA-243
• 32m at 2.60 g/t Au from 85m
• Including 4m at 11.27 g/t Au from 85m
• Including 5m at 6.75 g/t Au from 104m
FSA-242
• 48m at 1.35 g/t Au from 163
• Including 2m at 4.92 g/t Au from 186m
FSA-223
• 29m at 2.36 g/t Au from 186m,
• Including 4m at 15.30 g/t Au from 202m
FSA-248
• 2m at 25.96 g/t Au from 333m
FSA-226
• 41m at 2.25 g/t Au from 140m
• Including 2m at 17.25 g/t Au from 170m
FSA-251
• 6m at 4.52 g/t Au from 29m
The Company currently has 5 drill rigs on site actively drilling, with 4 rigs focused on infill and one
actively drilling at Gogó de Onça.
Mark Brennan, CEO and Co -Chairman commented “As we near completion of our infill drilling
campaign we are now confident that we will deliver a solid upgraded resource at Serra Alta, which
will provide a base for the ongoing Feasibility due to be completed during Q1 2023. In addition, the
ongoing regional drilling and other exploration activities continues to highlight the strong potential
to grow the total resources on the Monte do Carmo property.”
Serra Alta Infill
The main objective of the 18 infill drill holes reported today is to convert inferred blocks within the
current open pit constrained resource estimate (Micon, 2021) into the Indicated category, closing
the distance between holes informing blocks in the model. Holes reported today include, 8 collared
in the East Zone, 6 in Pit Norte and 4 in Pit Sul (see Figure 1 for drill hole locations, and Figure 2 for
cross sections of highlighted holes).
Drill holes FSA-223, FSA-225, FSA-236, FSA-241, FSA-242, FSA-245, FSA-248, FSA-256 were collared
in the East Zone. Main high-grade domains were intercepted with varying grade reconciliation with
respect to the existing model. The best reported intercept in the east zone correspond s to holes
FSA-223 and FSA-241 collared in the northern and central segments of East Zone respectively. Hole
FSA-223 is located close to the current northern edge of the resource. Hole FSA-241 is exceptional
as it includes a relevant thick and continuous interval in a relatively deeper zone where the original
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model only considered dismembered narrower discrete zones. The main intercept is defined by 71m
at 2.50 g/t Au from 113m, including 6.5m at 17.28 g/t Au from 119m.
Drill holes FSA-226, FSA-229, FSA-230, FSA-243, FSA-247 and FSA-249 were collared in Pit Norte. The
highlights in this zone are holes FSA-243 and FSA-249. The former intercepted a well-endowed area
in the immediate footwall of the granite volcanic contact. Assays in hole FSA -243 returned 32m at
2.60 g/t Au from 85m , including 4m at 11.27 g/t Au from 85m and 5m at 6.75 g/t Au from 10 4m.
Hole FSA -249 was drilled in section with FSA -241 intercepted 25m at 3.23 g/t Au f rom 55m
confirming downdip continuity.
Drill holes FSA-251 and FSA-253 were collared in Pit Sul. Most relevant results are included in hole
FSA-251 which crossed 6m at 4.52 g/t Au from 29m confirming the previous outline of the shallow
high-grade mineralization that will conceptually be part of the early phases of mining.
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Figure 1. Reported and Ongoing Drill Hole Locations
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Figure 2. Select Highlighted Cross Sections of Reported Holes*
* Note sections are shown at different scale
East Zone
Pit Norte
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Note: Scale vary by section
Table 1. Drill Hole Composites
Sector DDH From To LENGTH (m) True Width (m) Au (g/t)
East Zone
FSA-223 and 162.60 165.79 3.19 3.19 0.73
FSA-223 and 185.65 214.46 28.81 28.81 2.36
FSA-223 includes 201.47 205.26 3.79 3.79 15.30
FSA-223 and 236.40 239.56 3.16 3.16 0.67
FSA-223 and 246.72 247.65 0.93 0.93 0.99
FSA-223 and 254.05 255.20 1.15 1.15 0.55
FSA-223 and 288.75 291.18 2.43 2.43 0.75
FSA-223 and 295.30 297.30 2.00 2.00 1.23
FSA-223 and 303.00 304.08 1.08 1.08 0.36
FSA-223 and 311.30 318.49 7.19 7.19 1.03
FSA-223 includes 316.37 317.44 1.07 1.07 2.40
FSA-223 and 333.05 345.00 11.95 11.95 0.54
FSA-223 includes 337.35 338.44 1.09 1.09 2.35
FSA-223 and 348.27 349.37 1.10 1.10 0.70
FSA-223 and 358.55 359.55 1.00 1.00 0.70
Pit Sul
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FSA-223 and 367.26 368.19 0.93 0.93 0.78
FSA-223 and 377.50 378.58 1.08 1.08 0.80
FSA-223 and 382.95 424.48 41.53 41.53 1.11
FSA-223 includes 389.45 390.27 0.82 0.82 6.80
FSA-223 includes 410.24 411.35 1.11 1.11 11.10
FSA-223 and 427.83 428.90 1.07 1.07 0.83
FSA-225 and 81.07 82.10 1.03 1.03 0.45
FSA-225 and 106.57 115.09 8.52 8.52 0.51
FSA-225 includes 109.69 110.83 1.14 1.14 2.51
FSA-225 and 120.39 122.59 2.20 2.20 0.59
FSA-225 and 160.53 161.54 1.01 1.01 0.82
FSA-225 and 175.50 195.62 20.12 20.12 0.80
FSA-225 includes 190.31 192.37 2.06 2.06 3.99
FSA-225 and 198.71 199.88 1.17 1.17 0.78
FSA-236 and 82.34 83.37 1.03 1.03 0.36
FSA-236 and 86.69 87.70 1.01 1.01 0.50
FSA-236 and 105.65 107.43 1.78 1.78 2.56
FSA-236 and 128.20 129.20 1.00 1.00 0.32
FSA-236 and 132.58 133.54 0.96 0.96 0.68
FSA-236 and 137.70 138.84 1.14 1.14 0.33
FSA-236 and 146.33 150.75 4.42 4.42 0.38
FSA-236 and 153.93 154.96 1.03 1.03 0.43
FSA-236 and 191.95 193.04 1.09 1.09 5.15
FSA-236 and 198.40 199.45 1.05 1.05 0.61
FSA-236 and 207.80 211.00 3.20 3.20 0.33
FSA-236 and 219.40 228.20 8.80 8.80 2.28
FSA-236 includes 221.30 222.30 1.00 1.00 16.45
FSA-236 and 233.25 234.25 1.00 1.00 1.01
FSA-236 and 245.50 246.74 1.24 1.24 0.69
FSA-236 and 254.35 255.41 1.06 1.06 0.31
FSA-236 and 308.20 310.16 1.96 1.96 0.59
FSA-242 and 132.73 134.86 2.13 1.79 1.40
FSA-242 and 149.97 151.98 2.01 1.69 0.72
FSA-242 and 157.38 159.59 2.21 1.85 0.93
FSA-242 and 162.80 219.44 56.64 47.51 1.35
FSA-242 includes 185.83 187.91 2.08 1.74 4.92
FSA-242 includes 215.23 217.28 2.05 1.72 4.64
FSA-248 and 289.10 291.16 2.06 1.87 0.74
FSA-248 and 307.23 313.60 6.37 5.79 1.58
FSA-248 includes 312.50 313.60 1.10 1.00 5.21
FSA-248 and 323.97 326.07 2.10 1.91 1.93
FSA-248 and 333.25 335.35 2.10 1.91 25.96
FSA-248 and 343.92 356.85 12.93 11.75 0.91
FSA-248 and 361.60 379.30 17.70 16.09 0.78
FSA-248 and 385.63 387.72 2.09 1.90 0.49
FSA-248 and 415.71 422.48 6.77 6.15 1.68
FSA-241 and 4.82 29.10 24.28 22.47 1.11
FSA-241 includes 19.38 25.76 6.38 5.91 2.34
FSA-241 and 36.04 37.19 1.15 1.06 0.44
FSA-241 and 49.69 50.74 1.05 0.97 2.21
FSA-241 and 58.27 63.66 5.39 4.99 1.48
FSA-241 and 79.77 88.58 8.81 8.15 0.22
FSA-241 and 94.75 96.78 2.03 1.88 0.45
FSA-241 and 112.53 189.43 76.90 71.18 2.50
FSA-241 includes 118.80 125.85 7.05 6.53 17.28
FSA-241 includes 137.72 138.77 1.05 0.97 11.95
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FSA-241 includes 187.19 189.43 2.24 2.07 11.28
FSA-241 and 196.56 197.58 1.02 0.94 1.08
FSA-241 and 217.95 221.09 3.14 2.91 0.51
FSA-241 and 240.23 244.38 4.15 3.84 0.82
FSA-241 and 250.91 252.01 1.10 1.02 0.36
FSA-245 and 2.65 13.22 10.57 10.57 0.70
FSA-245 and 50.07 51.20 1.13 1.13 0.44
FSA-245 and 65.32 71.70 6.38 6.38 0.48
FSA-245 and 78.17 81.44 3.27 3.27 0.81
FSA-245 includes 80.32 81.44 1.12 1.12 1.59
FSA-245 and 86.80 90.02 3.22 3.22 0.32
FSA-245 and 121.33 130.78 9.45 9.45 0.75
FSA-245 includes 122.40 124.17 1.77 1.77 2.42
FSA-256 and 5.21 6.44 1.23 1.23 0.36
FSA-256 and 58.17 60.32 2.15 2.15 0.62
FSA-256 and 126.40 127.54 1.14 1.14 0.47
FSA-256 and 137.22 138.22 1.00 1.00 0.47
FSA-256 and 155.34 156.24 0.90 0.90 1.19
FSA-256 and 181.77 182.84 1.07 1.07 0.31
Pit Norte
FSA-226 and 8.35 12.35 4.00 3.81 0.34
FSA-226 and 22.03 23.06 1.03 0.98 0.60
FSA-226 and 26.97 69.65 42.68 40.61 1.43
FSA-226 includes 28.03 29.11 1.08 1.03 7.08
FSA-226 includes 31.23 36.86 5.63 5.36 2.17
FSA-226 includes 59.00 62.85 3.85 3.66 2.80
FSA-226 and 103.26 104.36 1.10 1.05 1.81
FSA-229 and 70.50 71.60 1.10 1.10 0.98
FSA-230 and 10.29 17.84 7.55 7.05 1.06
FSA-230 and 42.04 55.15 13.11 12.24 2.19
FSA-230 includes 42.04 43.18 1.14 1.06 12.65
FSA-230 and 61.55 81.12 19.57 18.26 0.50
FSA-243 and 67.46 68.46 1.00 0.93 0.30
FSA-243 and 69.52 70.70 1.18 1.09 0.38
FSA-243 and 73.75 74.89 1.14 1.06 0.67
FSA-243 and 85.44 120.05 34.61 32.06 2.60
FSA-243 includes 85.44 89.50 4.06 3.76 11.27
FSA-243 includes 103.74 108.88 5.14 4.76 6.75
FSA-247 and 0.00 16.41 16.41 15.13 0.88
FSA-247 includes 5.88 8.88 3.00 2.77 1.93
FSA-247 and 24.50 28.59 4.09 3.77 1.62
FSA-247 and 31.63 32.73 1.10 1.01 1.47
FSA-247 and 36.21 44.25 8.04 7.41 0.38
FSA-247 and 52.21 62.19 9.98 9.20 1.65
FSA-247 includes 52.21 53.22 1.01 0.93 5.72
FSA-247 includes 59.83 60.97 1.14 1.05 8.61
FSA-247 and 69.34 70.46 1.12 1.03 5.64
FSA-249 and 0.22 1.85 1.63 1.57 0.37
FSA-249 and 8.35 15.73 7.38 7.12 1.78
FSA-249 includes 12.85 13.78 0.93 0.90 5.26
FSA-249 and 19.97 21.11 1.14 1.10 0.71
FSA-249 and 36.35 42.02 5.67 5.47 0.91
FSA-249 includes 39.70 40.95 1.25 1.21 3.65
FSA-249 and 43.20 44.32 1.12 1.08 0.43
FSA-249 and 55.27 81.35 26.08 25.15 3.23
FSA-249 includes 65.73 67.90 2.17 2.09 4.13
FSA-249 includes 70.08 71.08 1.00 0.96 13.50