Lavras Gold Corp. Intersects 1.2 g/t Gold Over 251 Metres at Fazenda do Posto Gold Target, LDS Project, Southern Brazil Drilling intersection includes 2.2 g/t gold over 100 metres, including 4.7 g/t gold over 10 metres.
Lavras Gold Corp. Intersects 1.2 g/t Gold Over
251 Metres at Fazenda do Posto Gold Target,
LDS Project, Southern Brazil
Drilling intersection includes 2.2 g/t gold over 100 metres,
including 4.7 g/t gold over 10 metres.
Toronto, Ontario--(Newsfile Corp. - April 2, 2025) -
Lavras Gold Corp. (TSXV: LGC) (OTCQX:
LGCFF)
("
Lavras Gold
" or the "
Compan
y") is pleased to release the results from 12 new drill holes
representing 4,007 metres, testing the Fazenda do Posto Gold Target ("Fazenda do Posto" or
"Fazenda Gold Discovery"), located at the western side of the LDS Project in southern Brazil. Gold
mineralization was intersected in 11 of the 12 holes reported in this news release at Fazenda do Posto.
The Fazenda Gold Discovery is located immediately adjacent and northwest to the Butiá gold deposit
(Figure 1), which hosts a surface Mineral Resource Estimate of 377,000 ounces of gold in the Measured
and Indicated categories, and 115,000 ounces of gold in the Inferred category. Several of these 12 new
holes returned more than 100 metres of continuous gold mineralization characterized by higher-grade
subintervals — consistent with previous results.
The Company has also engaged SGS Laboratory in Belo Horizonte, Brazil to complete a
comprehensive metallurgical test program for Fazenda do Posto mineralization. The first batch of bulk
samples was recently sent to the lab. These new drill results and initiatives continue to move Lavras Gold
toward its short-term corporate goal of defining an economically feasible gold resource on the LDS
Project, focused on the Fazenda do Posto Gold Discovery, and adjacent Butiá Gold Deposit.
HIGHLIGHTS
Drilling
*Hole 24BT043 intersected:
251.0 metres grading 1.2 g/t gold
from 208.0 metres
, and including:
100.0 metres grading 2.2 g/t gold from 214.0 metres
, and including
20.0 metres grading 2.4 g/t gold from 233.0 metres, and
10.0 metres grading 2.7 g/t gold from 259.0 metres, and
25.0 metres grading 2.9 g/t gold from 276.0 metres
, and
10 metres grading 4.6 g/t gold from 304.0 metres
.
49.0 metres grading 1.3 g/t gold from 348.0 metres, and including
21.0 metres grading 2.3 g/t gold from 362.0 metres
, and
3.0 metres grading 2.9 g/t gold from 387.0 metres.
* NOTE to Hole 24BT043 —This hole is tagged with a Butiá drill hole number as it was collared on the Butiá claim block, drilling west into the
Fazenda do Posto claim block.
Hole 24FP032 returned:
139.0 metres grading 1.0 g/t gold
from 202.0 metres
and including:
6.0 metres grading 2.7 g/t gold from 203.0 metres.
34.0 metres grading 1.8 g/t gold from 254.0.0 metres
, and including
:
19.0 metres grading 2.1 g/t gold from 264.0 metres
, and
10.0 metres grading 1.4 g/t gold from 297.0 metres
.
"In addition to making new discoveries in this highly prospective gold district, our short-term goal
remains unchanged — the delineation of an economically feasible gold mine on the LDS Project. The
results from this new round of drilling are very exciting for us in that they significantly enhance our
understanding of the Fazenda do Posto Gold Discovery and the northeast/southwest trending structures
that play a significant role in the pattern and nature of mineralization at Fazenda do Posto," commented
Lavras Gold President & CEO, Michael Durose. "Significantly, drillhole 24BT043 was collared on the far
eastern side of Fazenda do Posto adjacent to Butiá and drilled in a northwesterly direction on an azimuth
of 290 degrees and inclined 60 degrees. The purpose was to test for the continuity of gold mineralization
across an interpreted northeast-southwesterly direction. The hole intercepted more than 250 metres of
consistent gold mineralization, grading 1.2 g/t gold, successfully extending the known gold mineralized
footprint to the northwest. Importantly, this hole was drilled in a direction perpendicular to discovery hole
23FP002 that was drilled on an azimuth of 020 degrees and inclined 60 degrees returning 340.0 metres,
grading 1.1 g/t gold, thus demonstrating the robustness of
continuous gold mineralization over a
very large area
.
"As our model anticipated, the new drilling results continue to demonstrate the excellent gold grade and
continuity of the Fazenda do Posto Gold Discovery. Long continuous intervals of gold mineralization over
more than 100 metres typically with higher-grade subintervals confirm the disseminated nature of gold
mineralization at Fazenda do Posto. Part of the on-going drilling program at Fazenda do Posto is testing
the potential for extensions to mineralization based on our increasingly more detailed and evolving
geological model. Our current interpretation is that Fazenda do Posto is a steeply northwest plunging,
irregular pipe-like structure. We have also initiated a detailed metallurgical testing program for Fazenda
do Posto and Butiá, as part of the overall derisking strategy for the project.
"We will continue drilling at the Butiá and Fazenda do Posto areas and to the north on the Caneleira
Concession, where we made our most recent discovery, Olaria."
Click here
for additional comments on the importance of these northeast/southwest trending structures
from CEO Michael Durose.
[* Footnote: Butiá hosts an Estimated Mineral Resource of 377,000 ounces of gold in the Measured and Indicated categories and 115,000 ounces
of gold in the Inferred category as
detailed in the report titled "
NI 43-101 Technical Report Mineral Resource for the Butiá Gold Prospect, Rio
Grande do Sul, Brasil",
prepared for Lavras Gold by author VMG Consultoria e Soluções Ltda., with an effective date of January 25, 2022, and an
amended report date of November 15, 2024. This Report is available on the
Company's website
and
www.sedarplus.ca
under Lavras Gold's issuer
profile.]
Discussion of Drill Results — Fazenda do Posto Discovery
Fazenda do Posto is the most advanced gold discovery on the LDS Project located immediately
adjacent to and slightly northwest of the Butiá Gold Deposit. The purpose of the current drilling program
at Fazenda do Posto is to define the gold mineralization footprint and extent of mineralization, and gain
greater insight into the geological controls to mineralization. Recent drilling results from Fazenda do
Posto were disclosed in the news release dated September 09, 2024. To date, results from 36 drill
holes totaling 11,067 metres of drilling have been disclosed based on the 2023 and 2024 drilling
program. This total includes the 12 holes disclosed in this news release (24FP025 to 24FP036
((excluding 24FP033 which was lost)); and 24BT043). In addition, more than 30,000 metres of drilling
have been completed at the adjacent Butiá gold deposit to date, including historical drilling prior to 2022.
Figure 1
is a general location map for the LDS Project deposits and targets. Drill collar locations for
Fazenda do Posto are shown in
Figure 2
. Details of drill holes showing assay results can be found in the
plan view in
Figure 3
. A long section looking northeast is shown in
Figure 4
.
Table 1
details all assay
results including newly disclosed results in this press release.
Table 2
tabulates drill hole information
including collar coordinates, drill hole azimuth and drill hole depths. Note drill hole 24FP026 was collared
1.4 kilometres northwest of the main zone of drilling at Fazenda do Posto and is not shown in
Figure 2
,
Figure 3 or Figure 4.
A primary purpose of the recent drilling was to test the lateral continuity of gold mineralization across a
postulated northeast trending structural corridor. Ten of the 12 holes drilled had an azimuth oriented 90 to
110 degrees, and/or 290 degrees and inclined 60 degrees. As shown in
Figure 3
and summarized in
Table 1
, the lateral holes include 24FP026, 24FP027, 24FP029, 24FP030, 24FP031, 24FP032,
24FP034, 24FP035, 24FP036, and 24BT043. Drillholes 24FP025 and 24FP028 were vertical holes
designed to test the vertical continuity of mineralization.
The lateral holes confirm continuous gold mineralization across a northeast trending structural corridor.
Drill holes 24FP034, 24FP035 and 24FP036 suggest a northeast trending structure along the southeast
portion of the Fazenda do Posto target area characterized by continuous moderate grade gold
mineralization associated with episyenite and perthitic granite. Drillhole 24FP026 tested a target 1.4
kilometres northwest of the main zone of drilling at Fazenda do Posto and did not find any gold
mineralization.
Central and North Portion of Fazenda do Posto
Drillhole 24BT043
was collared in the east-central portion of Fazenda do Posto and drilled from east to
west on an azimuth of 290 degrees and inclined 60 degrees. The hole returned multiple intervals of gold
in mineralized episyenite and perthitic granite. Highlights include:
18.4 metres grading 0.5 g/t gold from 14.0 metres and including
10.0 metres grading 1.0 g/t gold from 24.0 metres
.
251.0 metres grading 1.2 g/t gold from 208.0 metres including
:
100.0 metres grading 2.2 g/t gold
from 214.0 metres, and including
20.0 metres grading 2.4 g/t gold from 233.0 metres, and including
10.0 metres grading 2.7 g/t gold from 259.0 metres, and including
25.0 metres grading 2.9 g/t gold
from 276.0 metres, and including
10.0 metres grading 4.6 g/t gold
from 304.0 metres, and
49.0 metres grading 1.3 g/t gold
from 348.0 metres, and including
21.0 metres grading 2.3 g/t gold
from 362.0 metres, and including
3.0 metres grading 2.91 g/t gold from 387.0 metres.
Drillhole 24FP025
was collared in the north central portion of Fazenda do Posto and drilled vertically to
test the depth extent of mineralization. The hole returned:
157.0 metres grading 0.7 g/t gold from 116.0 metres
and including:
3.0 metres grading 4.3 g/t gold
from 145.0 metres.
1.0 metres grading 12.5 g/t gold
from 147.0 metres.
78.0 metres grading 0.9 g/t gold from 273.0 metres including:
2.0 metres grading 1.4 g/t gold from 303.0 metres.
3.0 metres grading 1.1 g/t gold from 310.0 metres.
1.0 metre grading 1.8 g/t gold from 317.0 metres.
20.0 metres grading 1.7 g/t gold from 321.0 metres.
10.0 metres grading 0.7 g/t gold from 374.0 metres
including:
1.0 metres grading 1.5 g/t gold from 376.0 metres, and
1.0 metres grading 1.5 g/t gold from 382.0 metres.
Drillhole 24FP032
was collared west of Fazenda do Posto, and drilled from west to east on an azimuth
of 110 degrees and inclined at 60 degrees. The hole was designed to test mineralization across a
northeast trending structure. The hole returned:
139.0 metres grading 1.0 g/t gold from 202.0
metres within mineralized episyenite. Several
higher-grade subintervals were intercepted including:
6.0 metres grading 2.7 g/t gold
from 203.0 metres
34.0 metres grading 1.8 g/t gold
from 254.0 metres,
19.0 metres grading 2.1 g/t gold
from 264.0 metres, and
10.0 metres grading 1.4 g/t gold
from 297.0 metres.
Drill hole 24FP027
was a step out hole and collared northwest of the main zone of mineralization at
Fazenda do Posto and designed to test for the extension of favourable alteration and mineralization. The
hole was drilled from west to east on an azimuth of 110 degrees and an inclined angle of 60 degrees.
The hole encountered alternating intervals of fresh granodiorite and metasomatiized/albitized rock, along
with multiple intercepts of lamprophyre dykes, followed by strongly altered perthitic granite and
3
intervals of mineralized episyenite
. The best intercept was:
12 metres grading 2.3 g/t gold
from 411.0 metres.
This is a significant finding as it demonstrates that the metasomatic alteration and mineralizing
processes are open to the north of the known mineralized footprint of Fazenda do Posto.
The current
interpretation is that the mineralized zones of episyenite are occurring along northeast
trending structures
north of the current mineralized footprint at Fazenda do Posto. Further work is
required to better understand this area.
Drillhole 24FP029
was drilled from west to east on an azimuth of 110 degrees and inclined at 60
degrees. The hole encountered:
57 metres of mineralized episyenite
having a gold grade of
0.8 g/t gold from 130.0 metres
and including:
6.0 metres grading 1.8 g/t gold
from 139.0 metres, and
5.0 metres grading 1.7 g/t gold
from 162.0 metres.
The hole successfully demonstrated gold mineralization in the central south portion of Fazenda do Posto.
Drillhole 24FP30
was drilled from west to east on an azimuth of 110 degrees and inclined at 60
degrees in the south-central portion of Fazenda do Posto. The hole encountered:
78.0 metres of continuous gold mineralization grading 0.3 g/t gold
from 61.0 metres
including
9.0 metres grading 0.8 g/t gold
from 68.0 metres, and including
2.0 metres grading 1.8 g/t gold
from 68.0 metres within mineralized episyenite.
Drillhole 24FP031
was drilled from west to east on an azimuth of 110 degrees and inclined at 60
degrees in the east-central portion of the Fazenda do Posto. The hole returned:
121.0 metres grading 0.3 g/t gold
from surface within mineralized episyenite, including
5.0 metres grading 0.9 g/t gold
from 42.0 metres, and
7.0 metres grading 0.9 g/t gold
from 73.0 metres.
Southeast Portion of Fazenda do Posto
Three holes were drilled to test the southeast area of Fazenda do Posto. Results are as follows:
Drillhole 24FP034
was drilled from west to east on an azimuth of 110 degrees and inclined at 60
degrees. The hole returned multiple intervals of moderate grade disseminated gold, including 51.0
metres grading 0.3 g/t gold within mineralized episyenite, and including 15.0 metres grading 0.4 g/t gold
from 73.0 metres.
Drillhole 24FP035
was drilled from west to east on an azimuth of 110 degrees and inclined at 60
degrees. The hole returned several gold intervals of low to moderate gold grades within episyenite and
perthitic granite.
Drillhole 24FP036
was drilled from west to east on an azimuth of 110 degrees and inclined 60 degrees.
The hole intercepted several intervals of gold mineralization similar to drillhole 24FP035.
Please refer to
Table 1
for a complete list of all drill holes and detailed assay results.
Figure 1. LDS Project Deposit and Target Locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/247043_5a95cecd3464b87f_002full.jpg
Table 1. Summary of Drill Hole Composites from the Fazenda do Posto Gold Discovery
- Note
that holes 23FP001 to24FP024 have been published prior to this press release.
Drill
Hole
From
(metres)
To
(metres)
Interval
(metres)
Gold grade
(grams/tonne)
Comment
23FP001
Previously
published
results
77.00
153.00
76.00
0.17
Perthitic granite mixed
with episyenite
85.00
86.00
1.00
0.32
Perthitic Granite
90.00
93.00
3.00
0.33
Episyenite
96.00
97.00
1.00
0.57
Episyenite
102.00
104.00
2.00
0.34
Episyenite
109.00
110.00
1.00
0.42
Episyenite
113.00
118.00
5.00
0.23
Perthitic Granite
135.00
137.00
2.00
0.47
Perthitic Granite
143.00
144.00
1.00
0.26
Perthitic Granite
23FP002
Previously
published
results
58.00
59.00
1.00
0.18
Albitite
117.00
457.00
340.00
1.09
Mineralized episyenite
Including
199.00
359.00
160.00
1.79
Episyenite
Including
208.00
235.00
27.00
2.07
Episyenite
Including
293.00
361.00
68.00
2.09
Episyenite
23FP003
Previously
published
results
24.00
27.00
3.00
0.71
Albitite
87.00
294.00
207.00
0.49
Episyenite
including
87.00
227.00
140.00
0.67
Episyenite
Including
87.00
195.00
108.00
0.80
Episyenite
Including
87.00
151.00
64.00
0.91
Episyenite
Including
106.00
145.00
39.00
1.17
Episyenite
23FP004
Previously
published
results
No
Significant
Values
Fresh Granodiorite
23FP005
Previously
published
results
118.00
119.00
1.00
0.26
Albitite
131.55
135.00
3.45
1.01
Perthitic Granite
139.00
140.00
1.00
0.99
Perthitic Granite
143.00
146.00
3.00
1.21
Perthitic Granite
159.00
161.00
2.00
0.26
Perthitic Granite
171.00
172.00
1.00
0.33
Perthitic Granite
176.00
177.00
1.00
0.30
Perthitic Granite
181.00
182.00
1.00
0.33
Perthitic Granite
23BT006
Previously
published
results
31.06
261.00
229.94
0.86
Episyenite
including
31.06
235.00
203.94
0.95
Episyenite
including
31.06
222.00
190.94
1.00
Episyenite
including
149.00
214.00
65.00
1.94
Episyenite
including
149.00
187.00
38.00
2.03
Episyenite
including
154.00
164.00
10.00
2.96
Episyenite
including
190.00
205.00
15.00
2.05
Episyenite
23FP007
Previously
published
results
No
Significant
Values
Fresh Granodiorite,
Perthitic Granite
23FP008
Previously
published
results
104.00
105.00
1.00
0.27
Episyenite
114.00
115.00
1.00
0.42
Episyenite
106.00
229.00
123.00
1.12
Episyenite
including
228.00
306.00
78.00
1.36
Episyenite
including
231.00
266.00
35.00
2.46
Episyenite
325.00
345.00
20.00
0.60
Perthitic Granite
including
331.00
335.00
4.00
2.67
Perthitic Granite
including
332.00
335.00
3.00
3.49
Perthitic Granite
23FP009
Previously
published
results
1.00
3.00
2.00
0.49
Episyenite and Metasomatic
Alteration
15.00
16.00
1.00
0.40
Episyenite and Metasomatic
Alteration
23.01
37.00
13.99
0.79
Episyenite and Metasomatic
Alteration
Including
29.00
38.00
9.00
0.91
Episyenite and Metasomatic
Alteration
40.00
40.94
0.94
0.25
Episyenite and Metasomatic
Alteration
75.00
77.00
2.00
0.72
Episyenite and Metasomatic
Alteration
93.00
96.00
3.00
0.44
Episyenite and Metasomatic
Alteration
131.00
132.00
1.00
0.41
Episyenite and Metasomatic
Alteration
Drill
Hole
From
(metres)
To
(metres)
Interval
(metres)
Gold grade
(grams/tonne)
Comment
149.00
152.00
3.00
0.44
Episyenite and Metasomatic
Alteration
157.00
160.00
3.00
0.43
Episyenite and Metasomatic
Alteration
162.00
163.00
1.00
0.25
Episyenite and Metasomatic
Alteration
164.00
168.00
4.00
0.30
Episyenite and Metasomatic
Alteration
23FP010
Previously
published
results
3.00
147.00
144.00
0.58
Pervasive albite alteration,
episyenite, PG
Including
3.00
44.00
41.00
1.00
Episyenite
Including
3.00
4.00
1.00
1.06
Episyenite
Including
23.00
44.00
21.00
1.29
Episyenite
Including
23.00
26.00
3.00
1.07
Episyenite
Including
31.00
40.00
9.00
2.17
Episyenite
Including
31.00
35.00
4.00
3.46
Episyenite
Including
50.00
51.00
1.00
1.14
Episyenite
Including
64.00
65.00
1.00
1.28
Episyenite
Including
72.00
79.00
7.00
0.89
Episyenite
Including
78.00
80.00
2.00
1.55
Episyenite
Including
83.00
90.00
7.00
1.02
Episyenite
Including
107.00
111.41
4.41
1.21
Perthitic Granite
Including
139.00
142.00
3.00
0.97
Episyenite
23FP011
Previously
published
results
32.00
33.00
1.00
0.29
Episyenite
69.00
242.00
173.00
0.95
Episyenite
Including
75.00
79.00
4.00
1.16
Episyenite
Including
97.00
103.00
6.00
1.07
Episyenite
Including
99.00
101.00
2.00
2.08
Episyenite
Including
126.00
220.83
94.83
1.37
Episyenite
Including
126.00
128.00
2.00
3.56
Episyenite
Including
135.00
138.00
3.00
2.47
Episyenite
Including
153.00
161.00
8.00
1.64
Episyenite
Including
166.10
181.00
14.90
1.66
Episyenite
Including
191.00
204.00
13.00
1.46
Episyenite
Including
209.00
215.00
6.00
2.01
Episyenite
Including
239.13
241.13
2.00
1.97
Episyenite
23FP012
Previously
published
results
4.00
5.27
1.27
0.29
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
Episyenite
58.00
173.00
115.00
0.59
Episyenite, albite
alteration
Including
83.00
84.00
1.00
2.26
Episyenite
Including
87.77
89.92
2.15
0.95
Episyenite
Including
102.16
104.00
1.84
1.06
Episyenite
Including
107.00
108.00
1.00
0.95
Episyenite
Including
110.00
111.00
1.00
1.10
Episyenite
Including
118.00
171.00
53.00
0.86
Episyenite, intermittent
Perthitic Granite
Including
118.00
119.00
1.00
1.09
Episyenite
Including
121.00
169.00
48.00
0.91
Episyenite, intermittent
Perthitic Granite
Including
130.00
156.00
26.00
1.08
Episyenite, intermittent
Perthitic Granite
Including
130.00
145.00
15.00
1.24
Episyenite
Including
162.00
168.00
6.00
1.09
Episyenite
23FP013
Previously
published
results
259.00
264.00
5.00
0.229
Perthitic Granite
299.00
309.00
10.00
0.364
Episyenite
Drill
Hole
From
(metres)
To
(metres)
Interval
(metres)
Gold grade
(grams/tonne)
Comment
24FP014
Previously
published
results
195.00
195.70
0.70
0.262
Episyenite
24FP015
Previously
published
results
No
Significant
Values
Fresh Granodiorite
24FP016
Previously
published
results
190.00
191.00
1.00
0.655
Episyenite
202.00
203.00
1.00
0.803
Episyenite
233.00
292.00
59.00
2.853
Episyenite
238.00
288.00
50.00
3.232
Episyenite
240.00
272.00
32.00
4.335
Episyenite
253.00
256.00
3.00
17.628
Episyenite
253.00
254.00
1.00
9.55
Episyenite
254.00
255.00
1.00
23.267
Episyenite
255.00
256.00
1.00
30.33
Episyenite
24FP017
Previously
published
results
0.00
301.00
301.00
0.684
Albite, Episyenite,
Perthitic Granite
Including
3.00
261.00
261.00
0.769
Albite, Episyenite,
Perthitic Granite
Including
50.00
77.00
27.00
1.278
Episyenite
Including
84.00
103.00
19.00
1.131
Episyenite
including
84.00
99.00
15.00
1.272
Episyenite
Including
84.00
91.00
7.00
1.441
Episyenite
Including
123.00
126.00
3.00
1.431
Episyenite
Including
144.00
158.00
14.00
1.666
Episyenite
Including
192.00
253.00
61.00
1.414
Episyenite
Including
192.00
214.00
22.00
1.856
Episyenite
24FP018
Previously
published
results
68.00
143.00
75.00
1.108
Episyenite
including
75.00
107.00
32.00
1.784
Episyenite
including
86.00
107.00
21.00
2.387
Episyenite
including
86.00
95.00
9.00
4.167
Episyenite
including
97.00
98.00
1.00
8.937
Episyenite
24FP019
Previously
published
results
0.00
25.00
25.00
1.226
Perthitic Granite
including
11.00
23.00
12.00
2.382
Perthitic Granite
including
15.00
16.00
1.00
26.40
Perthitic Granite
38.00
39.00
1.00
0.450
Perthitic Granite
59.00
61.00
2.00
0.410
Perthitic Granite
24FP020
Previously
published results
145.00
265.00
120.00
0.939
Episyenite, Perthitic
Granite
including
163.00
188.00
25.00
1.096
Episyenite
including
168.00
172.00
4.00
1.362
Episyenite
including
178.00
188.00
10.00
1.504
Episyenite
including
181.00
183.00
2.00
2.693
Episyenite
including
194.00
213.00
19.00
1.422
Episyenite
including
194.00
207.00
13.00
1.677
Episyenite
including
194.00
198.00
4.00
1.251
Episyenite
including
223.00
234.00
11.00
1.167
Episyenite
including
233.00
235.00
2.00
1.810
Episyenite
including
250.00
261.00
11.00
2.185
Episyenite
including
250.00
253.00
3.00
4.154
Episyenite
including
251.00
252.00
1.00
10.220
Episyenite
Drill
Hole
From
(metres)
To
(metres)
Interval
(metres)
Gold grade
(grams/tonne)
Comment