Cerrado GOLD Reports Additional Results from the Infill Program at the Serra ALTA Deposit at Its Monte Do Carmo Project IN Brazil
September 20, 2022 www.cerradogold.com
CERRADO GOLD REPORTS ADDITIONAL RESULTS FROM THE INFILL PROGRAM AT THE
SERRA ALTA DEPOSIT AT ITS MONTE DO CARMO PROJECT IN BRAZIL
• Notable results in all three deposit zones (East Zone, Pit Norte, and Pit Sul) include:
• FSA-246: 42m at 1.88 g/t Au from 145m;
• FSA-246: 18m at 7.21 g/t Au from 482m;
• FSA-264: 20m at 3.86 g/t Au from 102; and
• FSA-266: 33m at 2.58 g/t Au from 57m;
TORONTO, ONTARIO - Cerrado Gold Inc. [TSX.V: CERT][OTCQX:CRDOF] ("Cerrado" or the
"Company”) is pleased to announce additional 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 resources into the Measured
and Indicated categories, target new satellites , extensional zones, condemn areas of project
infrastructure and support the ongoing Feasibility Study . This phase of drilling is expected to be
completed early in Q4, 2022.
The Company is currently reporting assay results from 21 drill holes, totaling 4,081 m (see Tables 1
& 2) completed from April to July 2022. As of August 26, 2022, a total of 130 drill holes, totaling
31,815m have been completed as part of the 2022 program, including 109 holes at Serra Alta (infill,
condemnation, and partial extensions); and 21 holes in the satellite exploration areas namely, Gogó
de Onça and Capitao.
The Company currently has 5 drill rigs on site actively drilling, with three rigs focused on infill and
geotechnical programs and two actively drilling at Gogó de Onça.
Drill Hole Highlights (All composites are reported as true thickness):
Serra Alta (Infill)
FSA-246
• 42m at 1.88 g/t Au from 145m
• Including 5m at 4.87 g/t Au from 168m
• 18m at 7.21 g/t Au from 482
• Including 4m at 21.43 g/t Au from 492m
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FSA-254
• 15m at 3.71 g/t Au from 138m
• Including 2m at 25.68 g/t Au from 140m
FSA-264
• 20m at 3.86 g/t Au from 102m
• Including 3m at 14.07 g/t Au from 107m
• 9m at 7.24 g/t Au from 148m
• Including 1m at 55.30 g/t Au from 150m
FSA-271
• 28m at 2.13 g/t at 13.78 g/t Au from 44m
• 43m at 1.40 g/t Au from 114m
• Including 3m at 7.74 g/t Au from 119m
FSA-252
• 53m at 1.61 g/t Au from 75m
• Including 3m at 9.51 g/t Au from 92m
FSA-262
• 70m at 2.30 g/t Au from 41m
• Including 2m at 20.83 g/t Au from 90m
FSA-266
• 33m at 2.58 g/t Au from 57m
• Including 6m at 10.81 g/t Au from 63m
Mark Brennan, CEO and Co -Chairman commented “We are nearing completion of the Infill drilling
campaign at Serra Alta, providing the resource base for the ongoing Feasibility expected to be
completed by the end of Q1 2023. As can be seen by the holes reported today, the Serra Alta deposit
at Monte do Carmo continues to show itself as a well endowed gold deposit with plenty of
exploration potential.”
Serra Alta Infill
The main objective of the 21 infill drill holes reported today is to convert inferred blocks within and
in close proximity, to the current open pit constrained resource estimate (Micon, 2021) into the
Indicated category, closing the distance between holes informing blocks in the model. Some of these
holes were extended beyond the current resource outline to test prospective extensional areas.
Holes reported today include, 11 collared in the East Zone, 3 in Pit Norte and 7 in Pit Sul (see Figure
1 for drill hole locations, and Figure 2 for cross sections of highlighted holes).
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Drill holes FSA-246, FSA-254, FSA-258, FSA-260, FSA-261, FSA-264, FSA-265, FSA-267, FSA-268, FSA-
269 and FSA -271 were collared in the East Zone. The b est reported intercept s in the East Zone
correspond to holes FSA-246 and FSA-264 which were collared in the central and southern segment
of the approximate 400m of strike that comprises the East Zone. Hole FSA-246 was drilled at a very
shallow angle (19 degree) to optimize the perpendicularity to the quartz veins ( single and as vein
domain trend) and to efficiently determine the continuity of these veins at a proximal level to the
hosting granite and its contact with the volcanic rocks (loci of best lateral continuity of
mineralization). Hole FSA-264, collared in the southern segment of the east z one intercepted two
outstanding segments: a shallower one with 20m at 3.86 g/t Au from 102m, including 3m at 14.07
g/t Au from 107m; and a deeper one with 9 m at 7.24 g/t Au from 148m, i ncluding 1m at 55.30 g/t
Au from 150m.
Drill holes FSA -252, FSA-257, and FSA-263 were collared in Pit Norte. Hole FSA-252, drilled in the
northern segment of this zone intercepted a laterally extensive continuous zone that in the previous
geological model (current resource) encompassed three narrow discrete vein trends separated by
barren granitic gaps. The notable continuity points to the validity of possible “mushroom” shapes in
some areas, where mineralization blossom s towards the granitic/volcanic contact. The continuous
interval referred above returned 53m at 1.61g/t Au from 75m, including 3m at 9.51 g/t Au from
92m. Drill holes FSA-194, FSA-201, FSA-259, FSA-262, FSA-266, FSA270 and FSA -271 were collared
in Pit Sul covering the full 200m strike length of this zone. Most relevant results are included in hole
FSA-262, collared in the middle of the zone which crossed 70m at 2.30 g/t Au from 241 m, including
2m at 14.35 g/t Au from 45m. Hole FSA-262 reaffirms the lateral continuity of shallow mineralization
in Pit Sul, which under the current PEA is to be part of the early mining phases.
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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*
East Zone
* Note sections are shown at different scale
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Pit Norte
Pit Sud
Note: Scale vary by section
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Table 2. Drill Hole locations
Zone Hole number UTM East
m
UTM N
m
Elevation m Depth m Azimuth Dip
East Zone FSA-246 820544 8810447 555.1 589.2 103 -19
FSA-254 820568 8810372 552.1 230.6 137 -53
FSA-258 820592 8810276 566.9 170.3 133 -45
FSA-260 820602 8810301 578.8 185.5 130 -23
FSA-261 820488 8810413 537.3 218.4 110 -56
FSA-264 820592 8810279 567.1 231.0 106 -45
FSA-265 820521 8810186 479.3 85.9 102 -20
FSA-267 820507 8810244 508.4 134.9 125 -30
FSA-268 820800 8810485 658.5 550.1 98 -50
FSA-269 820518 8810186 479.3 87.0 127 -48
FSA-271 820601 8810326 579.5 220.6 126 -24
Pit Norte FSA-252 820506 8810090 499.4 198.9 104 -43
FSA-257 820500 8810068 504.8 193.3 132 -55
FSA-263 820394 8810035 453.5 109.4 90 -31
Pit Sul FSA-194 820283 8809633 452.7 178.2 101 -45
FSA-201 820329 8809687 482.7 180.6 98 -35
FSA-259 820312 8809602 466.1 145.5 89 -52
FSA-262 820335 8809631 472.7 125.2 96 -20
FSA-266 820304 8809574 470.3 120.7 97 -45
FSA-270 820325 8809662 478.7 55.1 141 -44
FSA-273 820326 8809686 481.9 70.2 135 -19
*Collar coordinates by GNSS TP-20 UTM Coordinates, Datum: SAD69 / zone 22S.
*Azimuth Set by compass
*Dip and drill hole trajectory by DEVIFLEX Devico
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Table 2. Drill Hole Composites - Infill Drilling
DDH
From To LENGTH
(m)
True Width
(m)
Au (g/t)
East Zone
FSA-246 and 53.70 62.10 8.40 8.34 1.29
FSA-246 and 79.44 85.75 6.31 6.26 0.86
FSA-246 and 144.75 187.15 42.40 42.09 1.88
FSA-246 includes 157.63 160.90 3.27 3.25 6.07
FSA-246 includes 168.06 173.31 5.25 5.21 4.87
FSA-246 and 200.05 201.09 1.04 1.03 0.59
FSA-246 and 214.61 215.66 1.05 1.04 0.37
FSA-246 and 216.70 217.75 1.05 1.04 0.41
FSA-246 and 229.49 230.50 1.01 1.00 0.44
FSA-246 and 278.10 279.10 1.00 0.99 0.88
FSA-246 and 296.00 297.00 1.00 0.99 0.38
FSA-246 and 312.30 313.43 1.13 1.12 0.41
FSA-246 and 343.27 346.46 3.19 3.17 0.63
FSA-246 and 351.67 353.76 2.09 2.07 2.35
FSA-246 and 374.71 375.82 1.11 1.10 0.36
FSA-246 and 379.00 380.00 1.00 0.99 0.40
FSA-246 and 402.35 404.22 1.87 1.86 19.72
FSA-246 and 448.70 451.80 3.10 3.08 0.83
FSA-246 and 463.95 469.38 5.43 5.39 1.17
FSA-246 and 481.58 499.70 18.12 17.99 7.21
FSA-246 includes 491.92 496.21 4.29 4.26 21.43
FSA-246 and 529.50 533.50 4.00 3.97 1.09
FSA-246 and 546.00 549.40 3.40 3.38 1.22
FSA-254 and 6.85 11.07 4.22 3.15 0.51
FSA-254 and 16.32 26.82 10.50 7.83 1.60
FSA-254 and 28.82 29.81 0.99 0.74 0.32
FSA-254 and 88.71 91.72 3.01 2.24 0.73
FSA-254 and 94.82 95.85 1.03 0.77 0.71
FSA-254 and 103.38 106.50 3.12 2.33 1.15
FSA-254 and 109.55 110.62 1.07 0.80 0.35
FSA-254 and 123.70 125.75 2.05 1.53 0.53
FSA-254 and 137.50 157.36 19.86 14.81 3.71
FSA-254 includes 139.65 141.75 2.10 1.57 25.68
FSA-254 includes 156.28 157.36 1.08 0.81 6.77
FSA-254 and 161.45 162.49 1.04 0.78 0.56
FSA-254 and 177.83 178.88 1.05 0.78 0.77
FSA-254 and 182.83 184.95 2.12 1.58 1.04
FSA-258 and 17.02 20.85 3.83 3.40 0.65
FSA-258 and 26.17 27.24 1.07 0.95 0.50
FSA-258 and 30.35 31.39 1.04 0.92 0.52
FSA-258 and 33.55 34.53 0.98 0.87 0.32
FSA-258 and 42.50 69.71 27.21 24.18 0.94
FSA-258 includes 42.50 45.42 2.92 2.59 2.43
FSA-258 includes 68.65 69.71 1.06 0.94 4.61
FSA-258 and 89.44 114.02 24.58 21.84 0.68
FSA-258 includes 93.60 95.75 2.15 1.91 2.01
FSA-258 and 119.37 120.47 1.10 0.98 0.78
FSA-258 and 123.45 124.49 1.04 0.92 0.37