Lavras Gold Corp. (TSX-V:LGC, OTCQX:LGCFF)
(“
Lavras” or the “
Company”) is
pleased to release the results from six (6) new drill holes testing
the Fazenda do Posto gold discovery, located at the western edge of
the LDS project in southern Brazil. Gold mineralization was
intersected in five of the six holes at the Fazenda do Posto gold
discovery. These new holes were designed to test the nature and
extent of gold mineralization and hydrothermal alteration
associated with this new gold discovery as explained below. These
new results continue to move Lavras Gold toward its short-term
corporate goal of defining an economically feasible gold resource
on the LDS Project, focused on Fazenda do Posto and adjacent Butiá
gold deposit.
HIGHLIGHTSHole 23FP011:
- 173.0 metres grading 1.0 g/t
gold from 69.0 metres and including:
- 2.0 metres grading 2.1 g/t gold from
99.0 metres
- 94.8 metres grading 1.4 g/t
gold from 126.0 metres (about 109.0 metres vertical),
- including 2.0 metres grading
3.6 g/t gold from 126.0 metres, and
- 3.0 metres grading 2.5g/t
gold from 135.0 metres, and
- 6.0 metres grading 2.0 g/t
gold from 209.0 metres
Hole 23FP008:
- 123.0 metres grading 1.1 g/t
gold from 228.0 metres including:
- 78.0 metres grading 1.4 g/t
gold from 228.0 metres and
- 35.0 metres grading 2.5 g/t
gold from 231.0 metres and
- 4.0 metres grading 2.7 g/t
gold from 331.0 metres and
- 3.0 metres grading 3.5 g/t
gold from 332.0 metres and
- 1.0 metre grading 8.8 g/t
gold from 334.0 metres
“These new drilling results are consistent with
previous drill results and demonstrate the excellent near-surface
gold grade and continuity of Fazenda do Posto. The large lateral
and vertical extent of the hydrothermal alteration points to a
sizable gold mineral system for which the full potential remains to
be tested,” commented Lavras Gold President & CEO Michael
Durose. “Results like these have the potential to materially
enhance the economics of a combined Butiá-Fazenda do Posto
near-surface bulk tonnage open-pit type of gold project. Fazenda do
Posto is not only demonstrating very good continuity and gold grade
at depth, but also laterally, where it remains open in several
directions. Two drills are actively working in the area, drilling
off the Fazenda do Posto area in a grid with vertical holes on 50
metre centres.” (Click here for comments on today’s news from CEO
Michael Durose.)
[* Footnote: Butiá hosts an NI 43-101 compliant
near-surface gold resource of about 500,000 ounces, as detailed in
the NI 43-101 Technical Report Mineral Resource for Butiá Gold
Prospect dated and effective January 25, 2022. The report was
prepared by VMG Consultoria e Soluções Ltda. for Lavras Gold Corp.
and is available on the Company’s website and www.sedar.com under
Lavras Gold’s issuer profile.]
Discussion of Drill Results – Fazenda do
Posto
Since announcing the Fazenda do Posto gold
discovery in late August 2023, a total of 12 drill holes totalling
3,309 metres have been disclosed. This press release discloses
results for six new holes – 23FP007 through 23FP012. Results for
the first six of the 12 holes have been disclosed previously. All
assay results are tabulated in Table 1, and
drill-collar coordinates are summarized in Table
2. Figure 1 shows a plan view of all
drill holes at Fazenda do Posto, and Figure 2
illustrates a cross section of all drill holes looking west.
So far, drilling has defined a large gold mineral
system consisting of a near-surface bulk-tonnage disseminated style
of mineral deposit hosted in a hydrothermally altered granitoid
host rock and strategically located 150 metres west of the adjacent
half million-ounce Butiá gold deposit. Fazenda do Posto and Butiá
are both open to possible expansion in several directions.
Generally, very long continuous intervals
of gold mineralization containing higher-grade
subintervals were encountered. The host rocks are
extensively hydrothermally altered, and gold is typically hosted in
disseminated sulphide minerals (pyrite +- arsenian pyrite) within
episyenite host rock or mineralized perthitic granite. Occasional
visible gold has been observed associated with sulphide minerals
(galena, pyrite). The mineralization is bulk tonnage in its nature
and has been detected to depths of more than 400 metres, and a
lateral extent of at least 200 metres northeast-southwest, and 200
metres northwest-southeast.
- Drill hole 23FP011
was collared in the northeastern portion of Fazenda do Posto (see
Figure 1). The hole was drilled at an inclined
angle of 60 degrees on an azimuth of 200 degrees. The purpose was
to test the lateral continuity of mineralization and gold grade
continuity at depth towards the southwest. A long continuous
interval of bulk-tonnage disseminated gold mineralization was
encountered starting at 69.0 metres (60.0 metres vertical depth) to
242.0 metres down the drill core (vertical depth of 210 metres)
within mineralized episyenite as detailed below. Generally, this
long interval of continuous mineralization has multiple
higher-grade intervals. Highlights are as follows:173.0 metres
grading 1.0 g/t gold from 69.0 metres including:
- 4.0 metres grading 1.2 g/t gold from
75.0 metres
- 6.0 metres grading 1.1 g/t gold from
97.0 metres
- 2.0 metres grading 2.1 g/t gold from
99.0 metres
- 94.8 metres grading 1.4 g/t
gold from 126.0 metres
- 2.0 metres grading 3.6 g/t
gold from 126.0 metres
- 3.0 metres grading 2.5 g/t
gold from 135.0 metres, and
- 8.0 metres grading 1.6 g/t
gold from 153.0 metres
- 14.9 metres grading 1.7 g/t
gold from 166.1 metres
- 13.0 metres grading 1.5 g/t
gold from 191.0 metres
- 6.0 metres grading 2.0 g/t
gold from 209.0 metres, and
- 2.0 metres grading 2.0 g/t
gold from 239.1 metres
Drillhole 22FP008 was collared in
the northeast portion of Fazenda do Posto and drilled on an azimuth
of 200 degrees at an inclined angle of 80 degrees (see
Figure 1). The purpose was to better understand
the nature and continuity of gold mineralization at depth.
Continuous gold mineralization was encountered over long intervals
in episyenite and mineralized perthitic granite. Higher-grade
intervals have been found at depth. A summary of assay composites
is as follows:
- 123.0 metres grading 1.1 g/t gold from
228.0 metres including:
- 78.0 metres grading 1.4 g/t
gold from 228.0 metres
- 35.0 metres grading 2.5 g/t
gold from 231.0 metres
- 20.0 metres grading 0.6 g/t gold from
325.0 metres
- 4.0 metres grading 2.7 g/t
gold from 331.0 metres
- 3.0 metres grading 3.5 g/t
gold from 332.0 metres
Drillhole 23FP010 was positioned
in the central portion of Fazenda do Posto, above the trace of
drillhole 23FP002 (see Figure 1 &
Figure 2). The hole was drilled on an azimuth of
110 degrees and inclined at 60 degrees. The purpose was to better
understand the nature of the geology and the extent of alteration
and possible mineralization along a southeast direction
perpendicular to the azimuth of drill hole 23FP002. Figure
3 shows an example of near-surface mineralized episyenite
from 23FP010. A continuous zone of intense albite alteration
interspersed with zones of bulk-tonnage and disseminated style of
gold mineralization consisting mainly of disseminated pyrite +-
arsenian pyrite within episyenite and perthitic granite was
encountered from 3.0 metres to 147.0 metres – a drillhole length of
144.0 metres. Further highlights are as follows:
- 144.0 metres grading 0.6 g/t gold from
3.0 metres including:
- 41.0 metres grading 1.0 g/t
gold from 3.0 metres and including
- 21.0 metres grading 1.3 g/t
gold from 23.0 metres and
- 9.0 metres grading 2.2 g/t
gold from 31.0 metres and including
- 4.0 metres grading 3.5 g/t
gold from 31.0 metres
- 2.0 metres grading 1.6 g/t gold from
78.0 metres
- 4.4 metres grading 1.2 g/t gold from
107.0 metres
Drillhole 23FP012 was collared
along the northwest edge of the Fazenda do Posto mineralized
footprint and drilled on an azimuth of 110 degrees and inclined 60
degrees (see Figure 1). The purpose was to test
the central western extension of hydrothermal alteration and
mineralization. The hole encountered very intense albite alteration
with moderate intervals of gold starting at 4.0 metres depth.
Significant long intervals of higher gold grades were found at 58.0
metres along the drill core after intersecting a lamprophyre dyke.
Several long intervals of disseminated gold mineralization were
encountered and including multiple higher-grade subintervals as
follows:
- 115.0 metres grading 0.6 g/t
gold from 58.0 metres including:
- 53.0 metres grading 0.9 g/t
gold from 118.0 metres and
- 26.0 metres grading 1.1 g/t
gold from 130.0 metres, and including
- 15.0 metres grading 1.2 g/t
gold from 130.0 metres, and
- 6.0 metres grading 1.1 g/t gold from
162.0 metres
Exploration Program – Summary and Next
Steps at Fazenda do Posto & Relationship to Butiá Gold
Deposit
The purpose of this phase of exploration drilling
has been to define the geometry and distribution of alteration and
gold mineralization at Fazenda do Posto. And, although still
relatively early in the exploration program, the results of
drilling are very encouraging highlighting the discovery of a
large, disseminated, bulk-tonnage intrusive-hosted gold system. The
lateral extent and intensity of the hydrothermal alteration
footprint has now been traced over 200 metres in a
northeast-southwest direction, 200 metres in a northwest-southeast
direction and to vertical depths of more than 400 metres.
Gold mineralization is being defined over large continuous
intervals for hundreds of metres. At Fazenda do Posto, a
higher-grade core of gold mineralization is developing at depth,
surrounded by a lower grade halo of gold. The gold mineralization
is typically associated with disseminated sulphides (pyrite,
arsenian pyrite) typically hosted within the vuggy spaces of
pervasively altered granitoids. The mineral system is open in
several directions and requires significantly more drilling.
Importantly, gold mineralization being
defined at Fazenda do Posto is 150 metres west of the adjacent
Butiá gold deposit that hosts an existing 43-101 compliant
measured, indicated, and inferred gold resource of 0.5 Moz that is
open to expansion. It is possible that these two deposits may be
developed together as one mining project in the future, and so it
is important to understand the relationship between these deposits.
Figure 4 illustrates a plan view showing the Butiá
gold resource relative to the Fazenda do Posto gold discovery.
Figure 5 shows an oblique view facing northeast.
The next step of the drilling program will systematically drill
Fazenda do Posto on 50 metre drill centres with vertical holes. In
this way, the size, geometry, and grade distribution of the
discovery will be better understood. This drill strategy will also
be applied selectively to the adjacent Butiá gold deposit. Further
ideas will be tested as the drill program evolves.
Lavras Gold’s short-term corporate objective is to
define an economic gold resource on the LDS Project with a focus on
Fazenda do Posto and the adjacent Butiá gold deposit.
The current drilling program consists of two
diamond drill rigs that are now on site and designed to test
exploration targets continuously from now until the end of the
first half of 2025. Approximately 10,000 metres of drilling
have been budgeted to test Fazenda do Posto and Butiá.
Further drilling of these targets may occur as results warrant.
Drilling of other exploration targets is anticipated in the second
half of 2024 with the objective of discovering new economic gold
deposits on the LDS property.
Table 1. Summary of Drill Hole Composites
from Fazenda do Posto Gold Discovery
Drill Hole |
|
From |
To |
Interval |
Gold grade |
Comment |
|
|
(metres) |
(metres) |
(metres) |
(grams/tonne) |
|
|
|
|
|
|
|
|
23FP001 |
|
77.00 |
153.00 |
76.00 |
0.17 |
Drilled peripheral to main target |
|
|
85.00 |
86.00 |
1.00 |
0.32 |
Along southeast edge of FP |
|
|
90.00 |
93.00 |
3.00 |
0.33 |
|
|
|
96.00 |
97.00 |
1.00 |
0.57 |
|
|
|
102.00 |
104.00 |
2.00 |
0.34 |
|
|
|
109.00 |
110.00 |
1.00 |
0.42 |
|
|
|
113.00 |
118.00 |
5.00 |
0.23 |
|
|
|
135.00 |
137.00 |
2.00 |
0.47 |
|
|
|
143.00 |
144.00 |
1.00 |
0.26 |
|
|
|
|
|
|
|
|
23FP002 |
|
58.00 |
59.00 |
1.00 |
0.18 |
Extensive albite alteration |
|
|
117.00 |
457.00 |
340.00 |
1.09 |
Mineralized episyenite |
|
Including |
199.00 |
359.00 |
160.00 |
1.79 |
Brick red colouration (Ba, Fe) |
|
Including |
208.00 |
235.00 |
27.00 |
2.07 |
|
|
Including |
293.00 |
361.00 |
68.00 |
2.09 |
|
|
|
|
|
|
|
|
23FP003 |
|
24.00 |
27.00 |
3.00 |
0.71 |
Extensive albite alteration |
|
|
87.00 |
294.00 |
207.00 |
0.49 |
Mineralized episyenite |
|
including |
87.00 |
227.00 |
140.00 |
0.67 |
Extensive albite alteration |
|
Including |
87.00 |
195.00 |
108.00 |
0.80 |
Mineralized episyenite |
|
Including |
87.00 |
151.00 |
64.00 |
0.91 |
Brick red colouration (Ba, Fe) |
|
Including |
106.00 |
145.00 |
39.00 |
1.17 |
|
|
|
|
|
|
|
|
23FP004 |
|
No Significant Values |
|
|
|
Fresh granodiorite, perthitic granite, drilled SW |
|
|
|
|
|
|
|
23FP005 |
|
118.00 |
119.00 |
1.00 |
0.26 |
Extensive albite alteration |
|
|
131.55 |
135.00 |
3.45 |
1.01 |
Mineralized perthitic granite |
|
|
139.00 |
140.00 |
1.00 |
0.99 |
Mineralized perthitic granite |
|
|
143.00 |
146.00 |
3.00 |
1.21 |
Mineralized perthitic granite |
|
|
159.00 |
161.00 |
2.00 |
0.26 |
Mineralized perthitic granite |
|
|
171.00 |
172.00 |
1.00 |
0.33 |
Mineralized perthitic granite |
|
|
176.00 |
177.00 |
1.00 |
0.30 |
Mineralized perthitic granite |
|
|
181.00 |
182.00 |
1.00 |
0.33 |
Mineralized perthitic granite |
|
|
|
|
|
|
|
23BT006 |
|
31.06 |
261.00 |
229.94 |
0.86 |
Drilled southwest into target |
|
including |
31.06 |
235.00 |
203.94 |
0.95 |
Mineralized episyenite |
|
including |
31.06 |
222.00 |
190.94 |
1.00 |
Mineralized episyenite |
|
including |
149.00 |
214.00 |
65.00 |
1.94 |
Mineralized episyenite |
|
including |
149.00 |
187.00 |
38.00 |
2.03 |
Mineralized episyenite |
|
including |
154.00 |
164.00 |
10.00 |
2.96 |
Mineralized episyenite |
|
including |
190.00 |
205.00 |
15.00 |
2.05 |
Mineralized episyenite |
|
|
|
|
|
|
|
23FP007 |
|
No Significant Values |
|
|
|
Fresh granodiorite, perthitic granite, drilled NE |
|
|
|
|
|
|
|
23FP008 |
|
104.00 |
105.00 |
1.00 |
0.27 |
Mineralized episyenite |
|
|
114.00 |
115.00 |
1.00 |
0.42 |
Mineralized episyenite |
|
|
106.00 |
229.00 |
123.00 |
1.12 |
Mineralized episyenite |
|
including |
228.00 |
306.00 |
78.00 |
1.36 |
Mineralized episyenite |
|
including |
231.00 |
266.00 |
35.00 |
2.46 |
Mineralized episyenite |
|
|
325.00 |
345.00 |
20.00 |
0.60 |
Mineralized perthitic granite |
|
including |
331.00 |
335.00 |
4.00 |
2.67 |
Mineralized perthitic granite |
|
including |
332.00 |
335.00 |
3.00 |
3.49 |
Mineralized perthitic granite |
|
|
|
|
|
|
|
23FP009 |
|
1.00 |
3.00 |
2.00 |
0.49 |
Pervasive albite alteration |
|
|
15.00 |
16.00 |
1.00 |
0.40 |
Pervasive albite alteration |
|
|
23.01 |
37.00 |
13.99 |
0.79 |
Pervasive albite alteration |
|
Including |
29.00 |
38.00 |
9.00 |
0.91 |
Pervasive albite alteration |
|
|
40.00 |
40.94 |
0.94 |
0.25 |
Pervasive albite alteration |
|
|
75.00 |
77.00 |
2.00 |
0.72 |
Pervasive albite alteration |
|
|
93.00 |
96.00 |
3.00 |
0.44 |
Pervasive albite alteration |
|
|
131.00 |
132.00 |
1.00 |
0.41 |
Pervasive albite alteration |
|
|
149.00 |
152.00 |
3.00 |
0.44 |
Pervasive albite alteration |
|
|
157.00 |
160.00 |
3.00 |
0.43 |
Pervasive albite alteration |
|
|
162.00 |
163.00 |
1.00 |
0.25 |
Pervasive albite alteration |
|
|
164.00 |
168.00 |
4.00 |
0.30 |
Pervasive albite alteration |
|
|
|
|
|
|
|
23FP010 |
|
3.00 |
147.00 |
144.00 |
0.58 |
Pervasive albite alteration, episyenite, Perthitic granite |
|
Including |
3.00 |
44.00 |
41.00 |
1.00 |
Mineralized episyenite |
|
Including |
3.00 |
4.00 |
1.00 |
1.06 |
Mineralized episyenite |
|
Including |
23.00 |
44.00 |
21.00 |
1.29 |
Mineralized episyenite |
|
Including |
23.00 |
26.00 |
3.00 |
1.07 |
Mineralized episyenite |
|
Including |
31.00 |
40.00 |
9.00 |
2.17 |
Mineralized episyenite |
|
Including |
31.00 |
35.00 |
4.00 |
3.46 |
Mineralized episyenite |
|
Including |
50.00 |
51.00 |
1.00 |
1.14 |
Mineralized episyenite |
|
Including |
64.00 |
65.00 |
1.00 |
1.28 |
Mineralized episyenite |
|
Including |
72.00 |
79.00 |
7.00 |
0.89 |
Mineralized episyenite |
|
Including |
78.00 |
80.00 |
2.00 |
1.55 |
Mineralized episyenite |
|
Including |
83.00 |
90.00 |
7.00 |
1.02 |
Mineralized episyenite |
|
Including |
107.00 |
111.41 |
4.41 |
1.21 |
Perthitic granite |
|
Including |
139.00 |
142.00 |
3.00 |
0.97 |
Mineralized episyenite |
|
|
|
|
|
|
|
23FP011 |
|
32.00 |
33.00 |
1.00 |
0.29 |
Mineralized episyenite |
|
|
69.00 |
242.00 |
173.00 |
0.95 |
Mineralized episyenite |
|
Including |
75.00 |
79.00 |
4.00 |
1.16 |
Mineralized episyenite |
|
Including |
97.00 |
103.00 |
6.00 |
1.07 |
Mineralized episyenite |
|
Including |
99.00 |
101.00 |
2.00 |
2.08 |
Mineralized episyenite |
|
Including |
126.00 |
220.83 |
94.83 |
1.37 |
Mineralized episyenite |
|
Including |
126.00 |
128.00 |
2.00 |
3.56 |
Mineralized episyenite |
|
Including |
135.00 |
138.00 |
3.00 |
2.47 |
Mineralized episyenite |
|
Including |
153.00 |
161.00 |
8.00 |
1.64 |
Mineralized episyenite |
|
Including |
166.10 |
181.00 |
14.90 |
1.66 |
Mineralized episyenite |
|
Including |
191.00 |
204.00 |
13.00 |
1.46 |
Mineralized episyenite |
|
Including |
209.00 |
215.00 |
6.00 |
2.01 |
Mineralized episyenite |
|
Including |
239.13 |
241.13 |
2.00 |
1.97 |
Mineralized episyenite |
|
|
|
|
|
|
|
23FP012 |
|
4.00 |
5.27 |
1.27 |
0.29 |
Mineralized episyenite |
|
|
12.00 |
14.00 |
2.00 |
0.32 |
episyenite |
|
|
58.00 |
60.00 |
2.00 |
0.27 |
episyenite |
|
|
63.00 |
64.00 |
1.00 |
3.19 |
Mineralized episyenite |
|
|
58.00 |
173.00 |
115.00 |
0.59 |
Mineralized episyenite, albite alteration |
|
Including |
83.00 |
84.00 |
1.00 |
2.26 |
Mineralized episyenite |
|
Including |
87.77 |
89.92 |
2.15 |
0.95 |
Mineralized episyenite |
|
Including |
102.16 |
104.00 |
1.84 |
1.06 |
Mineralized episyenite |
|
Including |
107.00 |
108.00 |
1.00 |
0.95 |
Mineralized episyenite |
|
Including |
110.00 |
111.00 |
1.00 |
1.10 |
Mineralized episyenite |
|
Including |
118.00 |
171.00 |
53.00 |
0.86 |
Mineralized episyenite, intermittent perthitic granite |
|
Including |
118.00 |
119.00 |
1.00 |
1.09 |
Mineralized episyenite |
|
Including |
121.00 |
169.00 |
48.00 |
0.91 |
Mineralized episyenite, intermittent perthitic granite |
|
Including |
130.00 |
156.00 |
26.00 |
1.08 |
Mineralized episyenite, intermittent perthitic granite |
|
Including |
130.00 |
145.00 |
15.00 |
1.24 |
Mineralized episyenite |
|
Including |
162.00 |
168.00 |
6.00 |
1.09 |
Mineralized episyenite |
- Assumes 0.25 g/t gold cut-off
grade, no top cut.
- The Company has been targeting
larger intersections of greater than 0.25 g/t gold. Intersections
lower than this threshold may provide exploration insight and may
therefore be disclosed.
- Intervals represent drill core
interval; true widths have not been determined at this time.
Table 2. Fazenda do Posto Drill Hole
Coordinates
Drill |
|
|
Elevation |
Azimuth |
Dip |
Start Depth |
Final Depth |
Hole |
Easting |
Northing |
(metres) |
(Degrees) |
(Degrees) |
(metres) |
(metres) |
23FP001 |
217907 |
6586453 |
378 |
20 |
-60 |
0 |
214.1 |
23FP002 |
217858 |
6586480 |
385 |
20 |
-60 |
0 |
464.6 |
23FP003 |
217892 |
6586568 |
379 |
0 |
-90 |
0 |
332.2 |
23FP004 |
217826 |
6586607 |
387 |
200 |
-60 |
0 |
201.3 |
23FP005 |
217935 |
6586309 |
397 |
20 |
-60 |
0 |
248.2 |
23FP006 |
217932 |
6586677 |
377 |
200 |
-60 |
0 |
308.3 |
23FP007 |
217928 |
6586677 |
377 |
20 |
-60 |
0 |
161.4 |
23FP008 |
217931 |
6586675 |
382 |
200 |
-80 |
0 |
401.4 |
23FP009 |
217910 |
6586591 |
383 |
290 |
-60 |
0 |
232.9 |
23FP010 |
217910 |
6586581 |
384 |
110 |
-60 |
0 |
288.0 |
23FP011 |
217926 |
6586674 |
380 |
220 |
-60 |
0 |
280.0 |
23FP012 |
217845 |
6586647 |
386 |
110 |
-60 |
0 |
177.0 |
Figure 1. Plan View of 2023 Fazenda do
Posto Drill Holes Showing Lithology & Gold Assay
Results
Figure 2. Cross Section of 2023 Fazenda
do Posto Drill Holes (Looking West) Showing Lithology and Assay
Results
Figure 3. Example of Mineralized
Episyenite Host Rock at Fazenda do Posto Gold Discovery.
Sulphide mineralization is extremely fine grained but detectable
with a magnifying glass. The episyenite displays an aphanitic
texture but is hydrothermally fractured. This sample from drillhole
23FP010 is from interval 25.0 m to 26.0 m and grades 4.6 g/t
gold.
Figure 4. Plan View of Fazenda do Posto
Gold Discovery Relative to Butiá Gold Deposit
Figure 5. Oblique View Facing Northeast
of Fazenda do Posto Gold Discovery Relative to Butiá Gold
Deposit
About the LDS Project
The LDS Project is centred on the town of Lavras do Sul in Rio
Grande do Sul, Brazil. It is approximately 320 kilometres, or a
4.5-hour drive, from the state capital of Porto Alegre. The
Company, through its subsidiary, holds directly or indirectly,
contractual interests over 29 mineral rights covering 22,000
hectares.
The LDS intrusive complex is a multiphase intrusive centre that
is surrounded by coeval volcanic rocks to the east. Geologically,
LDS is in the far south of the Neoproterozoic Mantiqueira Province,
a 2,700-kilometre-long belt of tectonically and magmatically
accreted terrains that stretch as far south as the coastline of
central Uruguay and north into southern Bahia State in Brazil. The
most advanced targets are the Butiá and Cerrito gold deposits,
which have consolidated NI 43-101 resources of approximately 1
million ounces.
About Lavras Gold Corp.
Lavras Gold Corp. (TSXV: LGC, OTCQX: LGCFF) is a Canadian
exploration company focused on realizing the potential of a
multi-million-ounce gold district in southern Brazil. Its Lavras do
Sul Project is located in Rio Grande do Sul State and is primarily
an intrusive hosted gold system of possible alkaline affinity. More
than 24 gold prospects centred on historic gold workings have been
identified on the property, which spans more than 22,000 hectares.
Follow Lavras Gold on www.lavrasgold.com, as well as on LinkedIn,
Twitter, and YouTube.
Michael Durose, President & CEO for Lavras
Gold Corp., is the qualified person ("QP") as defined by Canadian
National Instrument 43-101 and has reviewed and approved the
technical information contained in this release.
On Behalf of Lavras Gold
Corp.
“Michael
Durose”
President & CEO
For further information, please visit the Lavras
Gold Corp. website at www.lavrasgold.com, or contact:
Michael Durose, President & CEO or Naomi Nemeth, VP Investor
RelationsPhone: +1-289-624-1343 or +1-289-624-1377Email:
investor@lavrasgold.com Website: www.lavrasgold.com X (Twitter):
@LavrasGoldLinkedIn:
https://www.linkedin.com/company/lavras-gold-corp
Additional Technical Notes:
Quality Assurance & Quality Control: For the Butiá Gold
Deposit, sample handling, preparation, and analysis are monitored
through the implementation of formal chain-of-custody procedures
and quality assurance/quality control programs designed to follow
industry best practices.
All drill hole samples in this drilling program consist of split
NQ diamond drill core. Drill core is logged and sampled in a secure
facility located in Lavras do Sul, Rio Grande do Sul State, Brazil.
Drill core samples for gold assay are cut in half using a diamond
saw and submitted to ALS Laboratories Inc. in Goiania, Goiás State,
Brazil for preparation by crushing to 85% passing 1.0 mm, riffle
splitting to obtain 500 g aliquots, and pulverizing to 85% passing
75 microns.
Pulps are shipped to ALS Laboratories Inc. in Lima, Peru and
analyzed by a 50g fire assay and AAS finish. Three 50g aliquots are
taken for samples in the mineralized zone and one aliquot is taken
in fresh rocks. The average grade of the three aliquots is used to
determine the final grade of the mineralized sample.
Certified standards, non-certified blanks and field duplicates
are inserted into the sample stream at regular intervals, so that
QA/QC accounted for about 10% of the total samples. Results are
routinely evaluated for accuracy, precision, and contamination.
Lavras Gold has been targeting larger intersections of greater
than 0.25 g/t gold. Intersections that are lower than this
threshold may provide exploration insight and may therefore be
disclosed. The Company maintains a robust QAQC program that
includes the collection and analysis of duplicate samples and the
insertion of blanks and standards (certified reference
material).
Disclaimer: Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward looking statements: This news release
includes certain “forward-looking information” within the meaning
of Canadian securities legislation and "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively “forward looking
statements”). Forward-looking statements include predictions,
projections and forecasts and are often, but not always, identified
by the use of words such as “seek”, “anticipate”, “believe”,
“plan”, “estimate”, “forecast”, “expect”, “potential”, “project”,
“target”, “schedule”, “budget” and “intend” and statements that an
event or result “may”, “will”, “should”, “could” or “might” occur
or be achieved and other similar expressions and includes the
negatives thereof. All statements other than statements of
historical fact included in this release, including, without
limitation, statements regarding the Company’s further 2024 drill
plans and future results at the LDS Project are forward-looking
statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements are
based on a number of material factors and assumptions. Important
factors that could cause actual results to differ materially from
Company’s expectations include actual exploration results, changes
in project parameters as plans continue to be refined, results of
future resource estimates, future metal prices, availability of
capital and financing on acceptable terms, general economic, market
or business conditions, uninsured risks, regulatory changes,
defects in title, availability of personnel, materials and
equipment on a timely basis, accidents or equipment breakdowns,
delays in receiving government approvals, unanticipated
environmental impacts on operations and costs to remedy same, and
other exploration or other risks detailed herein and from time to
time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ from
those described in forward-looking statements, there may be other
factors that cause such actions, events or results to differ
materially from those anticipated. There can be no assurance that
forward-looking statements will prove to be accurate and
accordingly readers are cautioned not to place undue reliance on
forward-looking statements.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/cc785944-1188-4cd8-b8b6-c0580892b1ed
https://www.globenewswire.com/NewsRoom/AttachmentNg/cb42b014-fdc7-4c41-9508-1697913ad2c9
https://www.globenewswire.com/NewsRoom/AttachmentNg/472c4746-c793-48d3-93df-69c0d6807c4c
https://www.globenewswire.com/NewsRoom/AttachmentNg/83178d24-9485-4f15-b8f6-735fdd089571
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0543fb8-5dd4-4106-83fd-26302babed3b
Lavras Gold (TSXV:LGC)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Lavras Gold (TSXV:LGC)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024