2012. The year of our Mayan-esque demise? That God-awful John Cusack movie? No. 2012 is the year Colossus Minerals Inc. (TSX-V: CSI) will bring the revered Serra Pelada mine into production. Scoff at the dramatic intro if you will, but if ever a property deserved such words of weight, this is it. One of the most highly coveted and mineral rich mines in the world, Colossus acquired Brazil’s Serra Pelada mine in 2007 and has been advancing steadily towards production ever since.
Recent drill results from the hugely high-grade deposit confirm the might of Serra Pelada’s mineralized system. Highlights from Colossus’ 25,000 metre surface drilling program were announced in a press release issued April 26th 2011.
HIGHLIGHTS
• SPD-099 intersected two high-grade subzones in the Central Mineralized Zone (“CMZ”), including:
7.30 metres at 1494.7 g/t gold, 516.6 g/t platinum and 558.9 g/t palladium and 4.35 metres at 37.39 g/t gold, 2.75 g/t platinum and 3.56 g/t palladium
• The more westerly of these subzones exhibits the highest grades of gold+platinum+palladium so far encountered in Colossus drilling at the Serra Pelada Project
• These subzones correlate with, and significantly extend, the high-grade gold-PGE subzones encountered in SPD-095 (7.81 metres @ 136.43 g/t gold, 294.20 g/t platinum and 121.40 g/t palladium)
• SPD-096 shows that the GT zone around Section 100NE is more than 20 metres wide and contains high-grade gold and platinum-rich mineralization in iron oxide-rich breccias, including 1.2 metres at 36.0 g/t gold, 11.5 g/t platinum and 1.2 g/t palladium.
