09:46 AM EST - Colossus Minerals Inc. : provided a development update for its 75% owned Serra Pelada gold-platinum-palladium Mine. The Serra Pelada Mine is a joint venture between Colossus and Cooperativa de Mineração dos Garimpeiros de Serra Pelada located in the State of Pará, Brazil. The Company is on track with its dewatering program expansion. As of September 17, six of the originally planned ten wells are pumping and total dewatering output is approximately 800 m3 per hour. Currently, total output exceeds the recharge rate by approximately 75% and total output is expected to reach approximately 1,500 m3 per hour by December. Colossus Minerals Inc.
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