Results of Updated Mineral Resource and Reserves; Increases Consolidated M&I to 731koz Au and Inferred Resource to 653koz Au
Original announcement by tmx on
- Company
- Serabi Gold plc
- Ticker
- SBI
- Exchange
- TSX
- Region
- Para State, northern Brazil
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-09-12 22:59:23 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Serabi Gold has announced updated Mineral Reserve and Resource estimates for its Palito Complex and Coringa Mine, effective January 31, 2026. The company reported a significant 55% increase in Proven and Probable Reserves at the Palito Complex to 228.4 koz Au. Consolidated Measured and Indicated Resources increased by 29% to 730.8 koz Au, while Consolidated Inferred Resources grew by 50% to 653.3 koz Au, primarily driven by strong growth at the Coringa Mine. The estimates were prepared in accordance with NI 43-101 standards and signed off by Qualified Persons.
Reasoning: Serabi Gold has reported a highly positive update to its Mineral Reserves and Resources, with substantial increases in both categories across its key projects, particularly driven by successful brownfield exploration at Coringa. The growth in Measured and Indicated resources significantly de-risks the projects and supports future development.
Positive factors
- Significant increase in Proven and Probable Reserves at Palito Complex, demonstrating successful resource replenishment.
- Substantial 29% increase in Consolidated Measured and Indicated Resources, enhancing geological confidence and project viability.
- Large 50% increase in Consolidated Inferred Resources, indicating strong exploration potential.
- Exceptional resource growth at Coringa Mine, a new mine with greater geological continuity.
- All estimates are NI 43-101 compliant and signed off by Qualified Persons, ensuring high reporting standards.
Negative factors
- São Chico Mine estimates remain unchanged since 2023, indicating no new data or updates for this specific asset.
Facts used in scoring: 48
Classification and evidence
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The document reports 653.2 kt at 6.7 g/t Au for 141.1 koz Au as Proven Reserves for the Palito Complex.
Evidence · table
“Proven”
Context: 653.2
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The document reports 499.5 kt at 5.4 g/t Au for 87.3 koz Au as Probable Reserves for the Palito Complex.
Evidence · table
“Probable”
Context: 499.5
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: The document reports 1,295.4 kt at 10.5 g/t Au for 436.4 koz Au as Measured Resources for the Consolidated Palito Complex & Coringa Mine.
Evidence · table
“Measured”
Context: 1,295.4
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The document reports 1,190.4 kt at 7.7 g/t Au for 294.4 koz Au as Indicated Resources for the Consolidated Palito Complex & Coringa Mine.
Evidence · table
“Indicated”
Context: 1,190.4
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The document reports 2,506.7 kt at 8.1 g/t Au for 653.3 koz Au as Inferred Resources for the Consolidated Palito Complex & Coringa Mine.
Evidence · table
“Inferred”
Context: 2,506.7
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: Consolidated Measured and Indicated Resources increased from 2,047,900 tonnes to 2,485,800 tonnes, and Consolidated Inferred Resources increased from 2,144,200 tonnes to 2,506,700 tonnes.
Evidence · text
“Consolidated Measured and Indicated (“M&I”) Resources of 730,800 ounces of contained gold (2,485,800 tonnes @ 9.1 g/t Au), a 29% increase compared to 567,400 ounces (2,047,900 tonnes @ 8.6 g/t) in March 2025 for Palito and April 2024 for Coringa. Consolidated Inferred Resources of 653,300 ounces (2,506,700 tonnes @ 8.1 g/t Au), a 50% increase compared to 434,700 ounces (2,144,200 tonnes @ 6.3 g/t Au) in March 2025 for Palito and April 2024 for Coringa.”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Consolidated Measured and Indicated Resources increased by 29% to 730.8 koz Au, and Consolidated Inferred Resources increased by 50% to 653.3 koz Au.
Evidence · text
“Consolidated Measured and Indicated (“M&I”) Resources of 730,800 ounces of contained gold (2,485,800 tonnes @ 9.1 g/t Au), a 29% increase compared to 567,400 ounces (2,047,900 tonnes @ 8.6 g/t) in March 2025 for Palito and April 2024 for Coringa. Consolidated Inferred Resources of 653,300 ounces (2,506,700 tonnes @ 8.1 g/t Au), a 50% increase compared to 434,700 ounces (2,144,200 tonnes @ 6.3 g/t Au) in March 2025 for Palito and April 2024 for Coringa.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Mineral Reserve and Resource estimates were audited and approved by Mr. Carlos Guzmán and Mr. Nicolas Fuster of NCL, who are Qualified Persons under NI 43-101.
Evidence · text
“The Mineral Reserve estimate for Palito Mine was prepared by Mr Carlos Guzman of NCL Ingeniería y Construcción SpA, who is a Qualified Person under the Canadian National Instrument 43-101. The Mineral Resource estimates for Palito Mine and Coringa Mine were prepared by Mr Carlos Guzman of NCL Ingeniería y Construcción SpA, who is a Qualified Person under the Canadian National Instrument 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The estimates were prepared in accordance with the standard of CIM and Canadian National Instrument 43-101.
Evidence · text
“prepared in accordance with the standard of CIM and Canadian National Instrument 43-101”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces updated Mineral Reserve estimates and Mineral Resource estimates.
Evidence · text
“Results of Updated Mineral Resource and Reserves”
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: São Chico Mineral Reserves and Resources remain unchanged since November 2023 and July 2023 respectively, indicating no new updates.
Evidence · text
“São Chico Mineral Reserves remain unchanged since November 2023 Technical Report”
Extracted facts
Stored fact records: 48. Some facts used in scoring do not have a stored record.
Resource Estimates (48)
provenPalito Complex · goldTonnes: 607100Grade: 6.6Grade Unit: g/tContained Metal: 128.9Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Complex
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:c081ffb1c69fb196fc03
- Deposit or zone
- Palito
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 607100
- Grade
- 6.6
- Grade Unit
- g/t
- Contained Metal
- 128.9
- Contained Unit
- koz
- Cutoff Grade
- 3.19
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Proven Reserve for Palito Mine shows a strong grade and significant contained gold, indicating high confidence and economic viability.
Positive factors
- High confidence Proven Reserve category.
- Strong grade for an underground gold deposit.
- Significant contained metal.
Evidence · table
“6.6”
Context: 607.1
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probablePalito Complex · goldTonnes: 485400Grade: 5.4Grade Unit: g/tContained Metal: 83.8Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Complex
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:9753dcbc1690ca006a89
- Deposit or zone
- Palito
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 485400
- Grade
- 5.4
- Grade Unit
- g/t
- Contained Metal
- 83.8
- Contained Unit
- koz
- Cutoff Grade
- 3.19
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Probable Reserve for Palito Mine contributes significantly to the overall reserve base with a good grade and contained gold, supporting future mine planning.
Positive factors
- Probable Reserve category indicates good confidence.
- Solid grade for an underground gold deposit.
- Meaningful contained metal.
Evidence · table
“5.4”
Context: 485.4
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
provenPalito Complex · goldTonnes: 46100Grade: 8.2Grade Unit: g/tContained Metal: 12.2Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Complex
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:b5dca3fc761a9e4fed2e
- Deposit or zone
- São Chico
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 46100
- Grade
- 8.2
- Grade Unit
- g/t
- Contained Metal
- 12.2
- Contained Unit
- koz
- Cutoff Grade
- 4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-11-01T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The São Chico Proven Reserve is high-grade but represents stale data, as it has not been updated since November 2023.
Positive factors
- High-grade Proven Reserve.
Negative factors
- São Chico Mineral Reserves remain unchanged since November 2023, indicating no new updates.
Evidence · table
“8.2”
Context: 46.1
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probablePalito Complex · goldTonnes: 14100Grade: 7.7Grade Unit: g/tContained Metal: 3.5Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Complex
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:c7f522e9a2dca8943296
- Deposit or zone
- São Chico
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 14100
- Grade
- 7.7
- Grade Unit
- g/t
- Contained Metal
- 3.5
- Contained Unit
- koz
- Cutoff Grade
- 4
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-11-01T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The São Chico Probable Reserve is high-grade but represents stale data, as it has not been updated since November 2023.
Positive factors
- Good grade for a Probable Reserve.
Negative factors
- São Chico Mineral Reserves remain unchanged since November 2023, indicating no new updates.
Evidence · table
“7.7”
Context: 14.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
provenPalito Complex · goldTonnes: 653200Grade: 6.7Grade Unit: g/tContained Metal: 141.1Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Complex
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:8e9cbc25b06907f80333
- Deposit or zone
- Combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 653200
- Grade
- 6.7
- Grade Unit
- g/t
- Contained Metal
- 141.1
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The combined Proven Reserve for the Palito Complex shows a strong grade and significant contained gold, indicating high confidence and economic viability.
Positive factors
- High confidence Proven Reserve category.
- Strong grade for an underground gold deposit.
- Significant contained metal.
Evidence · table
“6.7”
Context: 653.2
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probablePalito Complex · goldTonnes: 499500Grade: 5.4Grade Unit: g/tContained Metal: 87.3Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Complex
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:59c3e5192e08adbb345e
- Deposit or zone
- Combined
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 499500
- Grade
- 5.4
- Grade Unit
- g/t
- Contained Metal
- 87.3
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The combined Probable Reserve for the Palito Complex contributes significantly to the overall reserve base with a good grade and contained gold, supporting future mine planning.
Positive factors
- Probable Reserve category indicates good confidence.
- Solid grade for an underground gold deposit.
- Meaningful contained metal.
Evidence · table
“5.4”
Context: 499.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredPalito Mine · goldTonnes: 814800Grade: 10.5Grade Unit: g/tContained Metal: 275.1Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:beed9a1d2d680889b525
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 814800
- Grade
- 10.5
- Grade Unit
- g/t
- Contained Metal
- 275.1
- Contained Unit
- koz
- Cutoff Grade
- 2.73
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Mine Measured Resource shows exceptional grade and contained gold, indicating high confidence and strong economic potential.
Positive factors
- Exceptional grade for a Measured Resource.
- High confidence category, supporting detailed mine planning.
- Significant contained gold.
Evidence · table
“10.5”
Context: 814.8
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedPalito Mine · goldTonnes: 459800Grade: 7.7Grade Unit: g/tContained Metal: 113.5Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:35976cadd0a0f9e5c656
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 459800
- Grade
- 7.7
- Grade Unit
- g/t
- Contained Metal
- 113.5
- Contained Unit
- koz
- Cutoff Grade
- 2.73
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Mine Indicated Resource provides a solid base with good grade and contained gold, supporting further economic evaluation.
Positive factors
- Strong grade for an Indicated Resource.
- Good confidence category, supporting mine planning.
- Meaningful contained gold.
Evidence · table
“7.7”
Context: 459.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedPalito Mine · goldTonnes: 1274600Grade: 9.5Grade Unit: g/tContained Metal: 388.6Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:5096f0db615d5278061a
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1274600
- Grade
- 9.5
- Grade Unit
- g/t
- Contained Metal
- 388.6
- Contained Unit
- koz
- Cutoff Grade
- 2.73
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The combined Measured and Indicated Resource for Palito Mine represents a significant and high-confidence gold inventory.
Positive factors
- High-grade Measured and Indicated Resource.
- Combined category provides strong confidence for economic studies.
- Substantial contained gold.
Evidence · table
“9.5”
Context: 1,274.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredPalito Mine · goldTonnes: 743800Grade: 6.5Grade Unit: g/tContained Metal: 156.6Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:92adcc59c5c39d32bf1c
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 743800
- Grade
- 6.5
- Grade Unit
- g/t
- Contained Metal
- 156.6
- Contained Unit
- koz
- Cutoff Grade
- 2.73
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Mine Inferred Resource shows good grade and contained gold, representing significant exploration upside despite lower confidence.
Positive factors
- Good grade for an Inferred Resource.
- Significant contained gold, indicating future potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“6.5”
Context: 743.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredSão Chico Mine · goldTonnes: 122500Grade: 8.1Grade Unit: g/tContained Metal: 31.9Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- São Chico Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:56f38f19069aa75ae575
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 122500
- Grade
- 8.1
- Grade Unit
- g/t
- Contained Metal
- 31.9
- Contained Unit
- koz
- Cutoff Grade
- 3.32
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2023-07-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-31T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The São Chico Measured Resource is high-grade but lacks novelty as it has not been updated since July 2023.
Positive factors
- High-grade Measured Resource.
Negative factors
- Estimate is stale, unchanged since July 2023.
Evidence · table
“8.1”
Context: 122.5
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.7 years before this release
indicatedSão Chico Mine · goldTonnes: 28500Grade: 7.1Grade Unit: g/tContained Metal: 6.5Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- São Chico Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:e32efebb23abfe1ab06e
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 28500
- Grade
- 7.1
- Grade Unit
- g/t
- Contained Metal
- 6.5
- Contained Unit
- koz
- Cutoff Grade
- 3.32
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2023-07-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-31T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The São Chico Indicated Resource is good grade but lacks novelty as it has not been updated since July 2023.
Positive factors
- Good grade for an Indicated Resource.
Negative factors
- Estimate is stale, unchanged since July 2023.
Evidence · table
“7.1”
Context: 28.5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.7 years before this release
indicatedSão Chico Mine · goldTonnes: 150900Grade: 7.9Grade Unit: g/tContained Metal: 38.4Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- São Chico Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:55a0b6944a706763164e
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 150900
- Grade
- 7.9
- Grade Unit
- g/t
- Contained Metal
- 38.4
- Contained Unit
- koz
- Cutoff Grade
- 3.32
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2023-07-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-31T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The combined Measured and Indicated Resource for São Chico is good grade but lacks novelty as it has not been updated since July 2023.
Positive factors
- Good grade for a combined Measured and Indicated Resource.
Negative factors
- Estimate is stale, unchanged since July 2023.
Evidence · table
“7.9”
Context: 150.9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.7 years before this release
inferredSão Chico Mine · goldTonnes: 8200Grade: 6.5Grade Unit: g/tContained Metal: 1.7Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- São Chico Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:f949adace11a0d9c8c38
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 8200
- Grade
- 6.5
- Grade Unit
- g/t
- Contained Metal
- 1.7
- Contained Unit
- koz
- Cutoff Grade
- 3.32
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2023-07-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-31T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The São Chico Inferred Resource is good grade but represents stale data with lower confidence, as it has not been updated since July 2023.
Positive factors
- Good grade for an Inferred Resource.
Negative factors
- Estimate is stale, unchanged since July 2023.
- Inferred category has lower geological confidence.
Evidence · table
“6.5”
Context: 8.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.7 years before this release
measuredPalito Complex (Palito & São Chico Mines) · goldTonnes: 937700Grade: 10.2Grade Unit: g/tContained Metal: 307Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Complex (Palito & São Chico Mines)
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:d4c11dbbe20cfb707226
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 937700
- Grade
- 10.2
- Grade Unit
- g/t
- Contained Metal
- 307
- Contained Unit
- koz
- Cutoff Grade
- 2.73
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Complex Measured Resource shows exceptional grade and contained gold, indicating high confidence and strong economic potential.
Positive factors
- Exceptional grade for a Measured Resource.
- High confidence category, supporting detailed mine planning.
- Significant contained gold.
Evidence · table
“10.2”
Context: 937.7
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedPalito Complex (Palito & São Chico Mines) · goldTonnes: 488300Grade: 7.6Grade Unit: g/tContained Metal: 120Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Complex (Palito & São Chico Mines)
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:529e72aaef674ca4e94e
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 488300
- Grade
- 7.6
- Grade Unit
- g/t
- Contained Metal
- 120
- Contained Unit
- koz
- Cutoff Grade
- 2.73
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Complex Indicated Resource provides a solid base with good grade and contained gold, supporting further economic evaluation.
Positive factors
- Strong grade for an Indicated Resource.
- Good confidence category, supporting mine planning.
- Meaningful contained gold.
Evidence · table
“7.6”
Context: 488.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedPalito Complex (Palito & São Chico Mines) · goldTonnes: 1425500Grade: 9.3Grade Unit: g/tContained Metal: 427Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Complex (Palito & São Chico Mines)
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:0a64078cd7e3ce0847aa
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1425500
- Grade
- 9.3
- Grade Unit
- g/t
- Contained Metal
- 427
- Contained Unit
- koz
- Cutoff Grade
- 2.73
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The combined Measured and Indicated Resource for Palito Complex represents a significant and high-confidence gold inventory.
Positive factors
- High-grade Measured and Indicated Resource.
- Combined category provides strong confidence for economic studies.
- Substantial contained gold.
Evidence · table
“9.3”
Context: 1,425.5
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredPalito Complex (Palito & São Chico Mines) · goldTonnes: 752000Grade: 6.6Grade Unit: g/tContained Metal: 158.3Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Complex (Palito & São Chico Mines)
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:776c9a712ba68e64e07b
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 752000
- Grade
- 6.6
- Grade Unit
- g/t
- Contained Metal
- 158.3
- Contained Unit
- koz
- Cutoff Grade
- 2.73
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Complex Inferred Resource shows good grade and contained gold, representing significant exploration upside despite lower confidence.
Positive factors
- Good grade for an Inferred Resource.
- Significant contained gold, indicating future potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“6.6”
Context: 752.0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredCoringa Mine · goldTonnes: 358200Grade: 11.2Grade Unit: g/tContained Metal: 129.4Contained Unit: kozView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:39b47ff31415d856c44b
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 358200
- Grade
- 11.2
- Grade Unit
- g/t
- Contained Metal
- 129.4
- Contained Unit
- koz
- Cutoff Grade
- 1.94
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Coringa Mine Measured Resource shows exceptional grade and contained gold, indicating high confidence and strong economic potential for this new mine.
Positive factors
- Exceptional grade for a Measured Resource.
- High confidence category, supporting detailed mine planning.
- Significant contained gold.
Evidence · table
“11.2”
Context: 358.2
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedCoringa Mine · goldTonnes: 702100Grade: 7.7Grade Unit: g/tContained Metal: 174.4Contained Unit: kozView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:86400670f20fa9145ab4
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 702100
- Grade
- 7.7
- Grade Unit
- g/t
- Contained Metal
- 174.4
- Contained Unit
- koz
- Cutoff Grade
- 1.94
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Coringa Mine Indicated Resource provides a solid base with good grade and contained gold, supporting further economic evaluation for this new mine.
Positive factors
- Strong grade for an Indicated Resource.
- Good confidence category, supporting mine planning.
- Meaningful contained gold.
Evidence · table
“7.7”
Context: 702.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedCoringa Mine · goldTonnes: 1060300Grade: 8.9Grade Unit: g/tContained Metal: 303.8Contained Unit: kozView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:d791d04f760f9c99835b
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1060300
- Grade
- 8.9
- Grade Unit
- g/t
- Contained Metal
- 303.8
- Contained Unit
- koz
- Cutoff Grade
- 1.94
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The combined Measured and Indicated Resource for Coringa Mine represents a significant and high-confidence gold inventory, highlighting its potential.
Positive factors
- High-grade Measured and Indicated Resource.
- Combined category provides strong confidence for economic studies.
- Substantial contained gold.
Evidence · table
“8.9”
Context: 1,060.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredCoringa Mine · goldTonnes: 1754700Grade: 8.8Grade Unit: g/tContained Metal: 495Contained Unit: kozView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:770922d12ab29c47f8b6
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 1754700
- Grade
- 8.8
- Grade Unit
- g/t
- Contained Metal
- 495
- Contained Unit
- koz
- Cutoff Grade
- 1.94
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Coringa Mine Inferred Resource shows a very strong grade and substantial contained gold, representing significant exploration upside despite lower confidence.
Positive factors
- Very strong grade for an Inferred Resource.
- Significant contained gold, indicating substantial future potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“8.8”
Context: 1,754.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredConsolidated (Palito Complex & Coringa Mine) · goldTonnes: 1295400Grade: 10.5Grade Unit: g/tContained Metal: 436.4Contained Unit: kozView all detailsHide details
Identity
- Project
- Consolidated (Palito Complex & Coringa Mine)
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:2da0c1e5f6b341fee1e1
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 1295400
- Grade
- 10.5
- Grade Unit
- g/t
- Contained Metal
- 436.4
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The consolidated Measured Resource shows exceptional grade and contained gold, indicating high confidence and strong economic potential across the company's assets.
Positive factors
- Exceptional grade for a Measured Resource.
- High confidence category, supporting detailed mine planning.
- Significant contained gold.
Evidence · table
“10.5”
Context: 1,295.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedConsolidated (Palito Complex & Coringa Mine) · goldTonnes: 1190400Grade: 7.7Grade Unit: g/tContained Metal: 294.4Contained Unit: kozView all detailsHide details
Identity
- Project
- Consolidated (Palito Complex & Coringa Mine)
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:1ca580b0c00b0edb1949
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1190400
- Grade
- 7.7
- Grade Unit
- g/t
- Contained Metal
- 294.4
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The consolidated Indicated Resource provides a solid base with good grade and contained gold, supporting further economic evaluation across the company's assets.
Positive factors
- Strong grade for an Indicated Resource.
- Good confidence category, supporting mine planning.
- Meaningful contained gold.
Evidence · table
“7.7”
Context: 1,190.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedConsolidated (Palito Complex & Coringa Mine) · goldTonnes: 2485800Grade: 9.1Grade Unit: g/tContained Metal: 730.8Contained Unit: kozView all detailsHide details
Identity
- Project
- Consolidated (Palito Complex & Coringa Mine)
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:482994ec2d5bc8268ad2
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2485800
- Grade
- 9.1
- Grade Unit
- g/t
- Contained Metal
- 730.8
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 2047900
- Prior Grade
- 8.6
- Prior Contained Metal
- 567.4
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The consolidated Measured and Indicated Resource represents a significant and high-confidence gold inventory, showing substantial growth from the prior estimate.
Positive factors
- High-grade Measured and Indicated Resource.
- Combined category provides strong confidence for economic studies.
- Substantial contained gold.
- Significant increase (29%) in contained metal from prior estimate.
Evidence · table
“9.1”
Context: 2,485.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 2485800 against 2047900 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 9.1 against 8.6 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 730.8 against 567.4 previously
inferredConsolidated (Palito Complex & Coringa Mine) · goldTonnes: 2506700Grade: 8.1Grade Unit: g/tContained Metal: 653.3Contained Unit: kozView all detailsHide details
Identity
- Project
- Consolidated (Palito Complex & Coringa Mine)
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:a0ecb26e6515af6b8e8e
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 2506700
- Grade
- 8.1
- Grade Unit
- g/t
- Contained Metal
- 653.3
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 2144200
- Prior Grade
- 6.3
- Prior Contained Metal
- 434.7
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The consolidated Inferred Resource shows a very strong grade and substantial contained gold, representing significant exploration upside and growth from the prior estimate.
Positive factors
- Very strong grade for an Inferred Resource.
- Significant contained gold, indicating substantial future potential.
- Large increase (50%) in contained metal from prior estimate.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“8.1”
Context: 2,506.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 2506700 against 2144200 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 8.1 against 6.3 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 653.3 against 434.7 previously
provenPalito Mine · goldTonnes: 607000Grade: 6.6Grade Unit: g/tContained Metal: 129Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:8f6ef80eef68ad0c941b
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 607000
- Grade
- 6.6
- Grade Unit
- g/t
- Contained Metal
- 129
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 422000
- Prior Grade
- 7.7
- Prior Contained Metal
- 104
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Mine Proven Reserve shows strong growth in tonnage and contained metal, despite a minor grade decrease, indicating successful resource conversion.
Positive factors
- Significant increase in Proven Reserve tonnage and contained metal.
- High confidence category.
Negative factors
- Slight decrease in grade compared to prior estimate.
Evidence · table
“6.6”
Context: 607
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 607000 against 422000 previously
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 6.6 against 7.7 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 129 against 104 previously
probablePalito Mine · goldTonnes: 485000Grade: 5.4Grade Unit: g/tContained Metal: 84Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:b2bc87a7b8ccbcbd2381
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 485000
- Grade
- 5.4
- Grade Unit
- g/t
- Contained Metal
- 84
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 224000
- Prior Grade
- 6
- Prior Contained Metal
- 43
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Mine Probable Reserve shows strong growth in tonnage and contained metal, despite a minor grade decrease, indicating successful resource conversion.
Positive factors
- Significant increase in Probable Reserve tonnage and contained metal.
- Good confidence category.
Negative factors
- Slight decrease in grade compared to prior estimate.
Evidence · table
“5.4”
Context: 485
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 485000 against 224000 previously
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 5.4 against 6 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 84 against 43 previously
probablePalito Mine · goldTonnes: 1093000Grade: 6.1Grade Unit: g/tContained Metal: 213Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:7e774a28b7c52b7fff56
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 1093000
- Grade
- 6.1
- Grade Unit
- g/t
- Contained Metal
- 213
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 646000
- Prior Grade
- 7.1
- Prior Contained Metal
- 147
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The total Palito Mine Proven & Probable Reserves show substantial growth in contained metal, reinforcing the project's economic foundation despite a grade reduction.
Positive factors
- Significant increase in total Proven & Probable Reserve tonnage and contained metal.
- Overall strong reserve base.
Negative factors
- Decrease in overall grade compared to prior estimate.
Evidence · table
“6.1”
Context: 1,093
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 1093000 against 646000 previously
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 6.1 against 7.1 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 213 against 147 previously
provenPalito Mine · goldTonnes: 422000Grade: 7.7Grade Unit: g/tContained Metal: 104Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:92461db47b81cb1e7a46
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 422000
- Grade
- 7.7
- Grade Unit
- g/t
- Contained Metal
- 104
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-03-30
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-03-30T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical Proven Reserve for Palito Mine provides context for the current update but is no longer the most recent data.
Positive factors
- High-grade Proven Reserve.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“7.7”
Context: 422
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probablePalito Mine · goldTonnes: 224000Grade: 6Grade Unit: g/tContained Metal: 43Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:6d84df7bd53b91afc060
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 224000
- Grade
- 6
- Grade Unit
- g/t
- Contained Metal
- 43
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-03-30
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-03-30T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical Probable Reserve for Palito Mine provides context for the current update but is no longer the most recent data.
Positive factors
- Good grade for a Probable Reserve.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“6.0”
Context: 224
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probablePalito Mine · goldTonnes: 646000Grade: 7.1Grade Unit: g/tContained Metal: 147Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- reserve
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:feb0b4d1eb38e4c68741
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 646000
- Grade
- 7.1
- Grade Unit
- g/t
- Contained Metal
- 147
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-03-30
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-03-30T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical combined Proven & Probable Reserve for Palito Mine provides context for the current update but is no longer the most recent data.
Positive factors
- Good grade for a combined Proven & Probable Reserve.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“7.1”
Context: 646
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredPalito Mine · goldTonnes: 815000Grade: 10.5Grade Unit: g/tContained Metal: 275Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:eb2cd24f07c22120620d
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 815000
- Grade
- 10.5
- Grade Unit
- g/t
- Contained Metal
- 275
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 769000
- Prior Grade
- 10.8
- Prior Contained Metal
- 267
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Mine Measured Resource shows growth in tonnage and contained metal, maintaining an exceptional grade, indicating successful infill drilling and resource definition.
Positive factors
- Increase in Measured Resource tonnage and contained metal.
- High confidence category with exceptional grade.
Negative factors
- Slight decrease in grade compared to prior estimate.
Evidence · table
“10.5”
Context: 815
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 275 from 267
indicatedPalito Mine · goldTonnes: 460000Grade: 7.7Grade Unit: g/tContained Metal: 114Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:ac979a4463983e2da0ef
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 460000
- Grade
- 7.7
- Grade Unit
- g/t
- Contained Metal
- 114
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 333000
- Prior Grade
- 7.7
- Prior Contained Metal
- 83
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Mine Indicated Resource shows substantial growth in tonnage and contained metal while maintaining grade, indicating successful resource conversion and expansion.
Positive factors
- Significant increase in Indicated Resource tonnage and contained metal.
- Grade maintained at a strong level.
- Good confidence category.
Evidence · table
“7.7”
Context: 460
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 460000 against 333000 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 114 against 83 previously
indicatedPalito Mine · goldTonnes: 1275000Grade: 9.5Grade Unit: g/tContained Metal: 389Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:2f1acf24309c78627439
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1275000
- Grade
- 9.5
- Grade Unit
- g/t
- Contained Metal
- 389
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 1102000
- Prior Grade
- 9.9
- Prior Contained Metal
- 350
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The total Palito Mine Measured & Indicated Resources show substantial growth in contained metal, reinforcing the project's high-confidence inventory.
Positive factors
- Significant increase in combined Measured & Indicated Resource tonnage and contained metal.
- High-grade resource base.
Negative factors
- Slight decrease in grade compared to prior estimate.
Evidence · table
“9.5”
Context: 1,275
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 1275000 against 1102000 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 389 against 350 previously
inferredPalito Mine · goldTonnes: 744000Grade: 6.5Grade Unit: g/tContained Metal: 157Contained Unit: kozView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:3051e905d67c2bf8b1cd
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 744000
- Grade
- 6.5
- Grade Unit
- g/t
- Contained Metal
- 157
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 682000
- Prior Grade
- 7.4
- Prior Contained Metal
- 162
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Palito Mine Inferred Resource shows tonnage growth but a decrease in grade and contained metal, suggesting some dilution or re-evaluation of lower-grade material.
Positive factors
- Increase in Inferred Resource tonnage.
Negative factors
- Decrease in grade and contained metal compared to prior estimate.
- Inferred category has lower geological confidence.
Evidence · table
“6.5”
Context: 744
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 6.5 against 7.4 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 157 against 162 previously
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 157 from 162
measuredPalito Mine · goldTonnes: 769000Grade: 10.8Grade Unit: g/tContained Metal: 267Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:8aa29e8adfa900166ecf
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 769000
- Grade
- 10.8
- Grade Unit
- g/t
- Contained Metal
- 267
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-03-30
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-03-30T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical Measured Resource for Palito Mine provides context for the current update but is no longer the most recent data.
Positive factors
- Exceptional grade for a Measured Resource.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“10.8”
Context: 769
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedPalito Mine · goldTonnes: 333000Grade: 7.7Grade Unit: g/tContained Metal: 83Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:62e7cb7b76e4aaad4f2a
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 333000
- Grade
- 7.7
- Grade Unit
- g/t
- Contained Metal
- 83
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-03-30
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-03-30T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical Indicated Resource for Palito Mine provides context for the current update but is no longer the most recent data.
Positive factors
- Strong grade for an Indicated Resource.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“7.7”
Context: 333
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedPalito Mine · goldTonnes: 1102000Grade: 9.9Grade Unit: g/tContained Metal: 350Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:8f8a4ed7e5ca131defae
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1102000
- Grade
- 9.9
- Grade Unit
- g/t
- Contained Metal
- 350
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-03-30
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-03-30T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical combined Measured & Indicated Resource for Palito Mine provides context for the current update but is no longer the most recent data.
Positive factors
- High-grade combined Measured & Indicated Resource.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“9.9”
Context: 1,102
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredPalito Mine · goldTonnes: 682000Grade: 7.4Grade Unit: g/tContained Metal: 162Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Palito Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:90cbd0fb311a9f4b56ae
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 682000
- Grade
- 7.4
- Grade Unit
- g/t
- Contained Metal
- 162
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-03-30
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-03-30T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical Inferred Resource for Palito Mine provides context for the current update but is no longer the most recent data.
Positive factors
- Good grade for an Inferred Resource.
Negative factors
- This is a historical estimate, superseded by the current update.
- Inferred category has lower geological confidence.
Evidence · table
“7.4”
Context: 682
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredCoringa Mine · goldTonnes: 358000Grade: 11.2Grade Unit: g/tContained Metal: 129Contained Unit: kozView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:4fd529404db231653b54
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 358000
- Grade
- 11.2
- Grade Unit
- g/t
- Contained Metal
- 129
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 172000
- Prior Grade
- 9
- Prior Contained Metal
- 49
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Coringa Mine Measured Resource shows exceptional growth in tonnage, grade, and contained metal, highlighting successful resource definition and expansion.
Positive factors
- Exceptional increase in Measured Resource tonnage and contained metal.
- Significant grade improvement.
- High confidence category.
Evidence · table
“11.2”
Context: 358
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 358000 against 172000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 11.2 against 9 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 129 against 49 previously
indicatedCoringa Mine · goldTonnes: 702000Grade: 7.7Grade Unit: g/tContained Metal: 174Contained Unit: kozView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:baf88c5a0f1027d184c6
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 702000
- Grade
- 7.7
- Grade Unit
- g/t
- Contained Metal
- 174
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 623000
- Prior Grade
- 6.5
- Prior Contained Metal
- 130
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Coringa Mine Indicated Resource shows substantial growth in tonnage, grade, and contained metal, indicating successful resource expansion and improved confidence.
Positive factors
- Significant increase in Indicated Resource tonnage and contained metal.
- Significant grade improvement.
- Good confidence category.
Evidence · table
“7.7”
Context: 702
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 7.7 against 6.5 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 174 against 130 previously
indicatedCoringa Mine · goldTonnes: 1060000Grade: 8.9Grade Unit: g/tContained Metal: 304Contained Unit: kozView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:2218f6e448aeafdec689
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1060000
- Grade
- 8.9
- Grade Unit
- g/t
- Contained Metal
- 304
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 795000
- Prior Grade
- 7
- Prior Contained Metal
- 179
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The total Coringa Mine Measured & Indicated Resources show exceptional growth in tonnage, grade, and contained metal, highlighting the project's significant and growing high-confidence inventory.
Positive factors
- Exceptional increase in combined Measured & Indicated Resource tonnage and contained metal.
- Significant grade improvement.
- High-grade resource base.
Evidence · table
“8.9”
Context: 1,060
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 1060000 against 795000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 8.9 against 7 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 304 against 179 previously
inferredCoringa Mine · goldTonnes: 1755000Grade: 8.8Grade Unit: g/tContained Metal: 495Contained Unit: kozView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:5ab56594337b624ccb11
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 1755000
- Grade
- 8.8
- Grade Unit
- g/t
- Contained Metal
- 495
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-01-31
- Prior Tonnes
- 1454000
- Prior Grade
- 5.8
- Prior Contained Metal
- 271
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: The Coringa Mine Inferred Resource shows exceptional growth in tonnage, grade, and contained metal, indicating substantial exploration upside and successful expansion.
Positive factors
- Exceptional increase in Inferred Resource tonnage and contained metal.
- Significant grade improvement.
- Very strong grade for an Inferred Resource.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“8.8”
Context: 1,755
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: 1755000 against 1454000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 8.8 against 5.8 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 495 against 271 previously
measuredCoringa Mine · goldTonnes: 172000Grade: 9Grade Unit: g/tContained Metal: 49Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:727fd5ec3ca0b143041b
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 172000
- Grade
- 9
- Grade Unit
- g/t
- Contained Metal
- 49
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2024-04-16
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-04-16T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical Measured Resource for Coringa Mine provides context for the current update but is no longer the most recent data.
Positive factors
- High-grade Measured Resource.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“9.0”
Context: 172
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.0 years before this release
indicatedCoringa Mine · goldTonnes: 623000Grade: 6.5Grade Unit: g/tContained Metal: 130Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:41188d7f306d6b1b28f3
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 623000
- Grade
- 6.5
- Grade Unit
- g/t
- Contained Metal
- 130
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2024-04-16
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-04-16T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical Indicated Resource for Coringa Mine provides context for the current update but is no longer the most recent data.
Positive factors
- Good grade for an Indicated Resource.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“6.5”
Context: 623
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.0 years before this release
indicatedCoringa Mine · goldTonnes: 795000Grade: 7Grade Unit: g/tContained Metal: 179Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:0decd102fddf2d068c1d
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 795000
- Grade
- 7
- Grade Unit
- g/t
- Contained Metal
- 179
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2024-04-16
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-04-16T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical combined Measured & Indicated Resource for Coringa Mine provides context for the current update but is no longer the most recent data.
Positive factors
- Good grade for a combined Measured & Indicated Resource.
Negative factors
- This is a historical estimate, superseded by the current update.
Evidence · table
“7.0”
Context: 795
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.0 years before this release
inferredCoringa Mine · goldTonnes: 1454000Grade: 5.8Grade Unit: g/tContained Metal: 271Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Coringa Mine
- Commodity
- gold
- Region
- brazil
- Reported Region
- Para State, northern Brazil
- Ticker
- SBI
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Carlos Guzman, Nicolas Fuster
- Resource group id
- resource:c6db18ff78bbc140cf31
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 1454000
- Grade
- 5.8
- Grade Unit
- g/t
- Contained Metal
- 271
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2024-04-16
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-04-16T00:00:00.000Z
Dates
- Event date
- 2026-04-28T00:00:00.000Z
Reasoning: This historical Inferred Resource for Coringa Mine provides context for the current update but is no longer the most recent data.
Positive factors
- Good grade for an Inferred Resource.
Negative factors
- This is a historical estimate, superseded by the current update.
- Inferred category has lower geological confidence.
Evidence · table
“5.8”
Context: 1,454
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.0 years before this release
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.