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Tuesday, 22nd May 2007 (2956 views)

The size of the holdings in the Tapajos province in Brazil has been "significantly" increased by Serabi Mining to 273,000 hectares, it has announced.

This increase accounts for a 165 per cent rise in the size of the holdings and was confirmed due to the mining and exploration company acquiring tenements in both the Modelo and Fazenda Pizon districts.

Commenting, Graham Roberts, the chairman of Serabi, explained that his firm had now managed to cement its position as a "lead player in the highly prospective Tapajos gold region" and these additional acquisitions were further proof of that.

He added: "Seeking to build on this position we have aggressively sought to consolidate our position through the addition of a further 170,000 hectares. We will seek to continue this process where appropriate."

The focus has been placed on this area due to Serabi believing that the Fazenda Pizon project could have the potential to host epigenetic and epithermal style gold deposits. The Modelo site is adjacent to Fazenda Pizon.

 

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