Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) reported assay results from drilling programs at the Serra Pelada Gold-Platinum-Palladium Mine in Brazil, which is a joint venture between the Company and Cooperativa de Mineração dos Garimpeiros de Serra Pelada. Hole SPD-182 intersected 3.40 metres grading 0.06 g/t palladium, hole SPD-184 intersected 26.65 metres grading 9.42 g/t palladium, and hole SPUD-018 intersected 3.60 metres grading 0.88 g/t palladium.
As quoted in the press release:
- SPD-182 intersected 3.40 metres grading 13.28 g/t gold, 0.02 g/t platinum and 0.06 g/t palladium increasing the width of the CMZ in this location
- SPD-184 intersected 26.65 metres grading 5.10 g/t gold, 11.22 g/t platinum and 9.42 g/t palladium also increasing the width of the CMZ in this location
- Underground drilling encounters more high grade with hole SPUD-018 intersecting 3.60 metres grading 24.37 g/t gold, 0.28 g/t platinum and 0.88 g/t palladium
Colossus Minerals Inc. CEO, Claudio Mancuso said:
We are pleased that despite poorer than anticipated drill performance, the results demonstrate localized increases in the width of the CMZ. We are further pleased to be able to establish more effective drilling stations closer to the CMZ, which will increase the pace of delineation drilling and assist with mine planning.