Cerrado GOLD Reports Strong Drill Results from the Serra ALTA Deposit at Its Monte Do Carmo Project IN Brazil: Hole Fsa - 164 Returns 129.0 M at 1.68 G/T.
December 14th, 2021 www.cerradogold.com
CERRADO GOLD REPORTS STRONG DRILL RESULTS FROM THE SERRA ALTA
DEPOSIT AT ITS MONTE DO CARMO PROJECT IN BRAZIL: HOLE FSA - 164
RETURNS 129.0 M AT 1.68 G/T.
• Concurrent ongoing programs include exploration at satellite deposits and an
infill drill program within the Serra Alta deposit (subject of this press release)
• Infill drilling focused on shallow, early mining phase zones aimed to refine
geometry of wide mineralized areas
• FSA-164 is the second-best hole received to date in terms of metal content (grade
times thickness) drilled by Cerrado at the property
TORONTO, ONTARIO - Cerrado Gold Inc. ("Cerrado" or the "Company”) (TSX.V: CERT) (OTCQX:
CRDOF) is pleased to announce further assay results from its exploratory and infill drill program
at the Serra Alta deposit at its Monte do Carmo Project (“MDC”) located in Tocantins State, Brazil.
The infill/exploratory phase started in Q2/2021 targeting further extensional areas to the known
resource for the current Serra Alta deposit and specific infill zones within the current resource.
Drill Hole Highlights by target area (all composites are reported as true thickness):
FSA-164
• 129.00 m at 1.68 g/t Au, from 15.00 m
▪ Including 2.03 m at 13.54 g/t Au from 26.02 m
▪ Including 11.06 m at 5.22 m g/t from 120.05 m
FSA-158
• 4.89 m at 1.82 g/t Au, from 422.29 m
FSA-160
• 17.70 m at 1.33 g/t Au, from 50.30 m; and
• 5.20 m at 7.29 g/t Au, from 81.27m
▪ Including 1.04 m at 34.11 g/t Au from 82.31 m
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FSA-162
• 7.42 m at 1.47 g/t Au, from 71.73 m
▪ Including 1.03 m at 9.69 g/t Au from 71.73 m
FSA-167
• 4.17 m at 1.63 g/t Au, from 33.54 m
The exploration and infill phase is a continuous and ongoing program initiated immediately
after the completion of phase 1 drilling in Q2. Th at program was the bas is of the updated
resource update for Serra Alta, that currently includes 541,000 Oz’s Au of Indicated resources
and 780,000 Oz’s Au of inferred resources; and the subsequent PEA (see Press Releases from
August 4 and August 23, 2021).
Drilling in H2 2021 has focused both on the Serra Alta Deposit (the focus of this press release
and the reported results herein ) and other satellite deposits, including Capitão, Bit 3, Baru,
Fartura, Ferradura, Eldorado, Magalhaes and Sucuri where the presence of gold has been
significantly confirmed in all targets and will be the subject of an upcoming press release.
The assay results reported in this press release are exclusive to Serra Alta and immediat ely
adjacent extensional areas and were received up until December 10th, 2021, representing the
full extent of eleven diamond drill holes, totaling 2,368 m completed in Serra Alta by late
October. Further drilling into the Serra Alta deposit (pending assays) extended into December
2021.
Mark Brennan, CEO and Co-Chairman commented “We are pleased with the ongoing drill results
at Serra Alta, with results to-date supporting our view of the exceptional characteristics of the deposit.
At Serra Alta, the results once again confirm the wide continuous mineralized zones proximal to the
granitic contact. The remarkable results of hole FSA-164, in Pit Norte block, are relatively shallow and
could represent additional early high-grade material to feed into the mine plan”
Cerrado’s exploration approach at the Monte Do Carmo district continues to be a parallel
process. First to define as accurately as possible the geology and mineralization continuity and
controls of Serra Alta, the most advanced target and conceptual anchor deposit; and secondly
to use this knowledge to test the full strike of the permissive contact zone to understand the
overall district potential. Drilling on the satellite targets is ongoing.
The company is planning an extensive infill drill program for H1 2022 that aims to convert
inferred resources and f urther increase confidence on early phases of the mine plan. Results
of the drilling will be incorporated into next year’s Feasibility study.
Serra Alta Assays Results
The holes reported in this press release include six infill and five extensional holes in and
around the Serra Alta deposit. Infill holes were collared in three sectors of the deposit: Pit Sul:
FSA-160, FSA-162; Pit Norte: FSA -161, FSA 164 and FSA -167; and the Eastern zone: FSA-158.
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Extensional holes were collared west of the pits that constrain the current resource (see Figure
1). Relevant results and locations are included in Tables 1 and 2 and Figure 1.
Figure 1. Location of reported holes from Serra Alta
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Drill hole FSA-158 was collared at the eastern edge of the East Zone, a fault bounded block, and
successfully expanded the boundaries of the gold mineralization to a lateral extent , including
beyond the current pit margins. Additional results, including 4.89 m at 1.82 g/t Au, from 422.29
m could contribute to the potential for an underground resource.
Frequency of visible gold, wide alteration zones and high-grade zones in the proximity of the
intrusive contact confirm the exploration model that assigns special relevance to the contact
zone between the granites and the felsic volcanic.
Drill Hole FSA -161 targeted the previously undrilled north zone within the Pit Norte block, the
hole did not provide any significant strike extension within this block.
Drill holes FSA-160 and FSA -162 confirmed the shape and extent of the high-grade domains
within the pit constrained resource in the Pit Sul sector and some of the mineralized zones
further east that were constrained as potential underground resources in the recent Micon
Resource Update. Notable results include 17.70 m at 1.33 g/t Au, from 50.30 and 5.20 m at 7.29
g/t Au, from 81.27 (FSA-160); and 7.42 m at 1.47 g/t Au, from 71.73 m (FSA-162).
Drill hole FSA-164, is an exceptional hole that was collared in the central p art of the Pit Norte
block. Hole FSA -164 is Cerrado ’s second best hole (after FSA -94, reported on December 16,
2020) in terms of metal endowment , estimated by the product of the true thickness and the
grade. This hole includes 129.00 m at 1.68 g/t Au from 15 m (vertical depth of less than 10 m)
and confirms Cerrado’s exploration model that considers higher structural levels within the
granite (possible copula) in the proximity to either Quartzite or Volcanics as the most permissive
zones for wider and richer quartz/gold veining. Hole FS-164 is remarkable in terms the density
of visible gold within the sheeted veins and is especially encouraging for the conceptual mining
sequencing as it re-affirms the low strip of high-grade zones in the early years of the operation.
Cerrado believes the refinement of the geometry and increase in grade in the area around hole
FSA-164 will likely add ounces locally into the constraining updated wireframe.
Drill hole FSA-167, was also collared in Pit Norte, at the south edge of the block. Results show
several relevant intercepts starting at 2.80 m. This hole will likely contribute to additional
ounces, as it is in close proximity to the contact zone previously not fully outlined in the resource
model. Notably FSA-167 intercepted 1.05 m at 11.18 g/t Au at 65.65 m.
Cross sections for the highlighted drill holes can be found through the following link:
https://www.cerradogold.com/mdc-crosssection-152.
The remaining step out holes drilled outside the current resource pit outline , failed to provide
relevant extension of the sheeted vei n domains. Cerrado targeted mainly extensions to the
west of the current resource following structural mapping and targeting the projection of some
small artisanal mined areas.
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Table 2. Serra Alta Deposit Relevant Intercepts
Target DDH From To LENGTH (m) True Width (m) Au (g/t)
FSA-158 422.29 428.70 6.41 4.89 1.82
FSA-158 includes 422.29 424.38 2.09 1.60 3.93
FSA-158 and 465.42 466.38 0.96 0.73 1.22
FSA-158 and 480.62 484.62 4.00 3.05 0.81
FSA-158 and 499.55 500.63 1.08 0.82 1.71
FSA-158 and 503.87 506.00 2.13 1.63 2.47
FSA-158 and 583.24 584.25 1.01 0.77 0.55
FSA-158 and 589.28 591.28 2.00 1.53 2.91
FSA-158 and 598.61 599.71 1.10 0.84 0.71
FSA-160 - 14.70 14.70 14.70 1.69
FSA-160 includes 11.60 14.70 3.10 3.10 6.56
FSA-160 and 25.08 32.10 7.02 7.02 1.98
FSA-160 and 39.20 40.21 1.01 1.01 1.60
FSA-160 and 46.23 47.26 1.03 1.03 0.55
FSA-160 and 50.30 68.00 17.70 17.70 1.33
FSA-160 includes 56.55 60.66 4.11 4.11 3.35
FSA-160 and 81.27 86.47 5.20 5.20 7.29
FSA-160 includes 82.31 83.35 1.04 1.04 34.11
FSA-160 and 91.59 92.64 1.05 1.05 1.03
FSA-160 and 101.05 102.14 1.09 1.09 0.40
FSA-160 and 128.44 129.48 1.04 1.04 1.78
FSA-160 and 173.48 174.52 1.04 1.04 0.85
FSA-160 and 262.09 263.20 1.11 1.11 3.31
FSA-160 and 272.61 274.66 2.05 2.05 0.33
FSA-160 and 277.70 278.75 1.05 1.05 0.34
FSA-161 124.12 130.11 5.99 5.99 0.42
FSA-162 0 4.14 4.14 4.14 0.74
FSA-162 includes 0 1.58 1.58 1.58 1.37
FSA-162 and 30.88 36.13 5.25 5.25 1.13
FSA-162 includes 32.98 35.00 2.02 2.02 2.49
FSA-162 and 71.73 79.15 7.42 7.42 1.47
FSA-162 includes 71.73 72.76 1.03 1.03 9.69
FSA-164 15.00 144.00 129.00 129.00 1.68
FSA-164 includes 17.84 19.79 1.95 1.95 4.37
FSA-164 includes 26.02 28.05 2.03 2.03 13.54
FSA-164 includes 44.61 45.61 1.00 1.00 3.73
FSA-164 includes 54.85 58.85 4.00 4.00 4.66
FSA-164 includes 62.00 65.05 3.05 3.05 2.57
FSA-164 includes 69.36 70.45 1.09 1.09 4.13
FSA-164 includes 96.00 97.02 1.02 1.02 6.56
FSA-164 includes 103.57 105.90 2.33 2.33 7.02
FSA-164 includes 120.05 131.11 11.06 11.06 5.22
FSA-164 includes 137.00 139.00 2.00 2.00 12.27
FSA-164 includes 142.00 144.00 2.00 2.00 3.80
FSA-167 2.80 3.80 1.00 1.00 0.44
FSA-167 and 10.90 12.00 1.10 1.10 1.87
FSA-167 and 17.20 20.06 2.86 2.86 1.35
FSA-167 and 30.46 31.50 1.04 1.04 0.86
FSA-167 and 33.54 37.71 4.17 4.17 1.63
FSA-167 and 40.75 48.12 7.37 7.37 0.58
FSA-167 and 51.11 53.15 2.04 2.04 2.27
FSA-167 and 65.65 66.70 1.05 1.05 11.18
FSA-167 and 73.90 74.95 1.05 1.05 0.69
FSA-167 and 80.24 84.40 4.16 4.16 0.88
FSA-167 and 104.65 110.00 5.35 5.35 0.46
FSA-167 and 112.08 119.80 7.72 7.72 1.11
FSA-167 and 123.02 124.02 1.00 1.00 2.89
FSA-165 131.13 132.15 1.02 1.02 0.32
FSA-165 215.42 216.50 1.08 1.08 0.67
FSA-168 18.78 21.87 3.09 3.09 0.83
FSA-171 No significant values
FSA-172 No significant values
FSA-177 No significant values
Step Out Infill
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Composited Cut off grade: 0.3 g/t Au
Table 1. Drill Hole Collars
Hole Id Northing Easting Elevation Depth (m)
FSA-158 8810509 820732 662 644.9
FSA-160 8809593 820351 468 371.8
FSA-161 8810142 820453 468 212.3
FSA-162 8809483 820354 503 210.8
FSA-164 8809992 820426 460 236.2
FSA-165 8810489 820323 525 220.6
FSA-167 8809954 820388 459 143.8
FSA-168 8809789 820074 407 100.3
FSA-171 8809779 820251 448 51.1
FSA-172 8809780 820248 447 45.9
FSA-177 8810492 819992 401 130.4
UTM -Central Meridian -54 / Datum SAD-69
Quality Assurance and Quality Control
Analytical work was carried out by SGS Geosol International Lab (SGS). MDC sends half core samples
for sample preparation to the lab. SGS prepares samples at Goiânia (Goiás State) and Belo Horizonte
(Minas Gerais State) and at the same facility performs 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.
SGS has 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 Certified Reference Material (CRM) 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 relea se 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]
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About Cerrado Gold
Cerrado Gold is a gold production and exploration company with gold production derived from its 100%
owned Minera Don Nicolas mine 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.ceradogold.com
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