Serabi Gold plc, formerly Serabi Mining plc, is a gold exploration holding company. The Company is a provider of support and management services to its operating subsidiary. Together with its subsidiaries it is involved in the development of gold and other metals mining projects in Brazil and the operation of the Palito Gold Mine in the Tapajos region of Brazil. The company�s primary interest is the 100% owned Palito Gold Mine located in the Tapajos region of northern Brazil and a surrounding 53,000 hectares of highly prospective exploration tenements that the Company controls. In addition it holds or has under application a further 95,000 hectares of exploration tenements within the Tapajos region. Q4 2011, the Company announced completion of its Phase 1 discovery drill program with 36 exploration drill holes totaling 8,200 meters, targeting nine anomalies. The drilling encountered gold mineralization in seven of the nine anomalies.