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Dear Pilar Gold Shareholders and Interested Parties
Recent results from our Sertão drill program are very encouraging, strengthening our theory on the continuation of the high grade ore body running west from the original Troy Resources open pit (mined at average 29 g/t over three years).
Bonanza Grades Intersected at Sertão’s Nilsson Reef (Stage 4)
* Sertão drilling at Stage 4 returned 0.5m @ 208 g/t from 128m and 0.5m @74.8 g/t from 125m.
* Stage 5 drilling is well underway and showing encouraging results.
* Sertão was the highest grading lowest cost gold mine in the industry between 2003-2007 when Troy Resources mined 256,000 ounces at an average grade of 29 g/t open pit.
* Historical hole SRT001 intersected 2m @ 18.7 g/t from 541 metres ~1.2km to the west of the pit and illustrates the potential that the current programme is drilling the same system. Pilar holds the land tenements for 5.9kms on trend to the west of the Sertão pit.
* Mining at Sertão is planned for 2H’22 and will be trucked to our Pilar mill.
* Plans are in place to accelerate drilling at Sertão with a second drill rig to be added in February 2022.
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