Serabi Gold reported a series of high-grade results from its 2026 drilling programme in Brazil, as it works to expand the resources at its two producing gold mines.
The miner said drilling around its Palito and Coringa mines had returned strong gold intercepts, including 1.38 metres grading 11.85 grams per tonne at Coringa’s Serra South zone and 1.0 metre at 10.1 g/t at a nearby satellite target.
The results extend known mineralisation beyond the current mining areas at both sites, though the company noted that some of its intercepts are based on internal assays still awaiting laboratory confirmation.
The drilling is part of a wider push to grow the group’s total mineral inventory beyond 1.5 million ounces of gold, building on last year’s programme, which lifted its measured and indicated resources to around 731,000 ounces.
Serabi has six rigs operating across the two mines and expects to complete this year’s 32,000-metre programme in October, with updated resource estimates due in the first quarter of 2027.
Serabi Gold has been hugely successful for investors, and progress in the current campaign will further bolster its attractiveness. With a market cap of just £209m, Serabi Gold shares certainly look attractively priced given it generated pre-tax profit of $53.9 million in 2025.
Gold price fluctuations may affect earnings this year, but an uptick in production in the first half should help. The dip following the resignation of their finance chief may be an opportunity to buy.