Serabi Forms Exploration Alliance with Vale
Serabi Gold plc (AIM:SRB,TSX:SBI) (“Serabi”), the Brazilian-focused gold mining and development company, is pleased to announce the signing of a strategic exploration alliance (“Exploration Alliance”) with Vale S.A., through its subsidiary Salobo Metais S.A., (both “Vale”) focused on its Matilda prospect and other large regional targets in the Tapajos region of Para, Brazil.
- Serabi Gold plc (AIM:SRB,TSX:SBI) (“Serabi”), the Brazilian-focused gold mining and development company, is pleased to announce the signing of a strategic exploration alliance (“Exploration Alliance”) with Vale S.A., through its subsidiary Salobo Metais S.A., (both “Vale”) focused on its Matilda prospect and other large regional targets in the Tapajos region of Para, Brazil.
- Exploration Alliance structured over a number of phases:
Phase 1: Vale to sole fund up to US$5.0 million exploration programme. - The Exploration Alliance is focused on large scale copper projects and allows Serabi to maintain its attention on its gold exploration targets.
- The Exploration Alliance is primarily focussed on opportunities for the discovery of copper deposits within the exploration tenements held by Serabi around the Palito and Sao Chico mines (the “Palito Complex tenements”), which cover more than 61,000 hectares.