Lavras Gold Reports High-Grade Intercept at Caneleira Target in Southern Brazil Top intercept returns 21.66 g/t gold over 15 metres, including 52.73 g/t gold over 6 metres* These results reinforce Company's view of district-scale growth and development with this new
Lavras Gold Reports High-Grade Intercept at
Caneleira Target in Southern Brazil
Top intercept returns 21.66 g/t gold over 15 metres, including
52.73 g/t gold over 6 metres*
These results reinforce Company's view of district-scale growth and development with this new
front at Caneleira and vicinity adding to the Butiá-Fazenda do Posto ("Butiá-Fazenda") Project.
Significant intersections at Caneleira include:
Hole 25CN016 intercepted 21.66 grams per tonne ("g/t") gold ("Au") over 15 metres
("m")
from 131m,
including 52.73 g/t Au over 6m
from 135m and
including 132.93 g/t
over 2m
from 139m; and
Hole 24CN011 intercepted 0.58 g/t Au
over 36m
from 23m,
including 1.94 g/t Au over
6m
from 33m.
*Drilled width, true width unknown
Toronto, Ontario--(Newsfile Corp. - February 24, 2026) - Lavras Gold Corp. ("
Lavras Gold
" or the
"
Company
") is pleased to report drill results from its Caneleira Target, located 2 kilometers north of the
flagship Butiá-Fazenda do Posto Gold Project ("Butiá-Fazenda" or the "Project") at the Lavras do Sul
Project ("LDS Project") in Rio Grande do Sul, Brazil. These results, which are derived from 5,461 metres
of diamond drilling in 24 holes, are from drilling (16 holes) (
Tables 1 and 3
) by Lavras Gold, materially
adding to historical results (8 holes) (
Tables 2 and 4
).
previously reported by predecessor company
Amarillo Gold Corp.
Drilling at Caneleira confirms robust gold mineralization, including high-grade intervals with visible gold,
hosted within laterally extensive and strongly hydrothermally altered structural zones that remain open
along strike and at depth. While geologically and geochemically distinct from the Butiá-Fazenda system,
the style of mineralization demonstrates strong continuity and scale potential. Caneleira holes were
drilled in the area which has the largest and most coherent gold-in-soil anomalies within the Company's
23,000-hectare property and includes within its extensive footprint previous discoveries at Zeca Souza,
Galvao and Olaria. The Company will extend its drilling campaign in this area through step out drilling as
structural alteration and grade trends emerge from current drilling; as well as testing coincident soil
geochemistry and recessive topography anomalies, which are known to be important mineralization
vectors that the Company has applied with success on other targets to date.
Caneleira Target
Gold mineralization at Caneleira (
Figures 1, 2 and 3
) is hosted in NNE-oriented cataclastic zones with
strong hydrothermal alteration, quartz veining and sulfide mineralization, locally associated with visible
gold. Mineralization remains open both along strike and at depth.
Recent drilling materially builds upon historical results previously reported by predecessor company
Amarillo Gold Corp., including Hole LDH-114, which returned 0.57 g/t Au over 106m (from 156m) and
Hole LDH-111, which returned 1.01 g/t Au from 44m (from surface), including 17.67 g/t over 1m (from
25m).
"These results demonstrate the caliber of exploration upside that exists contiguous to our most
advanced asset, Butiá-Fazenda," said Hemdat Sawh Interim CEO and CFO of Lavras Gold.
"We will continue to drill at Caneleira aiming to expand the search space over this target area. We
believe this area represents a large, high-quality system with the potential to significantly add to the gold
inventory at the LDS Project. We are continuously unlocking value across this district, and these results
prove that we are only beginning to uncover the full potential of this already large scale system," added
Jon Hill Interim VP Exploration of Lavras Gold.
Click
here
for additional comments from Interim VP Exploration, Jonathan Hill.
Figure 1 -
Target location map showing Butiá-Fazenda and nearby priority targets (Caneleira, Olaria,
Zeca Souza, Galvao, Matilde and Cerrito) within the Lavras do Sul Project. Extensive gold-in-soil
anomalism (>50 ppb Au) is highlighted in pink, together with most recently reported Mineral Resources
(2022 Pre-Fazenda Discovery) and the 2 km and 5 km radii of influence around Butiá-Fazenda,
illustrating the strong spatial clustering and district-scale upside potential. Aurora and Dourada are two
priority, early stage targets for diamond drill testing in the near future.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/285024_a1df8e2fe439c8d3_002full.jpg
Figure 2
- Zoomed view of Figure 1 above highlighting the close proximity of the Caneleira target to the
Butiá-Fazenda Project, showing drill hole traces and associated mineralized zones. Again, note the
widespread gold in soil anomalism shown in pink which represents the >50 ppb gold in soil contour.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/285024_a1df8e2fe439c8d3_003full.jpg
Figure 3
- Zoomed view of Figure 2 above highlighting the relative position of drill hole intersections and
the mineralized envelope defined at a cut-off grade of 0.1 g/t Au at Caneleira. Note that follow up
diamond drilling is in progress, planned hole traces are presented in blue. Assay results from this drilling
will be published in due course as received from the laboratory.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/285024_a1df8e2fe439c8d3_004full.jpg
Caneleira Geology
The Lavras do Sul Intrusive Complex comprises multiple intrusive bodies/stocks with varied
compositions, mainly biotite-granodiorites and biotite-monzogranites, plus perthite granites, syenites,
ultramafic rocks including lamprophyre bodies locally resembling kimberlites. The complex has
experienced multiple hydrothermal alteration cycles (epithermal to mesothermal) along NNE-trending
and potentially subsidiary lineaments/shear zones. These structures are clearly evident in the available
magnetic and radiometric geophysical surveys and in places are also coincident with strong gold and
associated pathfinder elements in soil anomalism.
These processes formed mineralized bodies in favourable structural, lithological and or alteration zones,
with the mineralization delineated at Butiá-Fazenda, Cerrito and now Caneleira the most advanced
examples. Perthitic granites underwent progressive hydrothermal alteration to albitite and episyenite,
which are the main hosts of gold mineralization. Gold is commonly associated with galena and sphalerite
in Butiá-Fazenda.
In the Caneleira area and nearby targets (e.g. Olaria), drilling identified wide NNE-oriented cataclastic
bands in biotite-monzogranites and biotite-granodiorites. These bands are variably hydrothermally
altered (sericite, albite, hematite, phengite, chlorite, carbonate, minor tourmaline) and contain quartz
veins/stockworks. Pyrite is the dominant sulfide, with galena, sphalerite, and chalcopyrite also present.
Gold in Caneleira is typically associated with cataclastic, hydrothermally altered, sulfidized rocks and
locally with episyenite intercalations. Geochemically, Caneleira rocks have lower Zr, La, Y, Th, and U
than altered rocks in Butiá-Fazenda and show a Bi-Cd-Ag-Pb-Te-Zn geochemical signature which is
also distinct from the Butiá-Fazenda signature. Drill hole
25CN016
discovered two strongly altered,
gold-bearing horizons marked by intense albitization, phengitization, sulfidation, and visible gold.
Ongoing drilling aims to define the extent and geometry of these promising mineralized zones .
Figure 4
- Drill core from hole
25CN016
showing the style of mineralization along the interval from 134
to 141 m. The interval is characterized by hydrothermal alteration and sulfide mineralization, with visible
gold observed between 139 and 140 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/285024_a1df8e2fe439c8d3_005full.jpg
Figure 5
- Long section and core photographs from hole
25CN016
highlighting the high-grade gold
interval between ~132-143 m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/285024_a1df8e2fe439c8d3_006full.jpg
Figure 6
- Visible gold (Vg) observed in drill holes
26CN019
(108-109 m) and 26CN020 (149-150 m),
associated with strongly hydrothermally altered and sulphide-bearing intervals. Assay results for these
holes are pending, but visual mineralization confirms continuity of the mineralized system beyond the
currently reported intercepts
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/285024_a1df8e2fe439c8d3_007full.jpg
Butiá-Fazenda do Posto
The Company continues to execute its 2026 drilling program, environmental impact assessment,
engineering, resource update and metallurgical test work and is focused on advancing Butiá-Fazenda
towards application for the Preliminary License ("LP") in Q3 2026. Final drilling results from the 2025
campaign (8 holes) are being evaluated and will be released shortly.
Executing a Dual Strategy: Advance Development, Unlock Upside
Lavras Gold's primary objective remains the advancement through permitting and development of the
Butiá-Fazenda Project towards Mineral Resource Inventory growth. This is being achieved through the
drill-bit, building on the previously disclosed (
Butiá only), NI 43-101 Compliant Mineral Resource of
12.9 million tonnes (Mt) at 0.91 g/t Au containing 377koz (Measured and Indicated) and 3.7Mt at
0.97 g/t Au containing 115koz (Inferred) at a 0.30 g/t Au cut-off),
reported with an effective date of
January 25, 2022, prior to the discovery of Fazenda.
1
In parallel with advancing permitting and development activities at Butiá-Fazenda, the Company will
continue drilling at Caneleira and vicinity given these exciting drill results,and will target other high priority
targets on the eastern side of the LDS Project.,
To support this strategy, Lavras Gold has initiated a comprehensive review of its Mineral Resource
Inventory and broader endowment potential across the district. This work will include a thorough review of
the
Cerrito Target where a NI 43-101 compliant Mineral Resource of approximately 8.2Mt at 0.70
g/t Au containing 188koz (Indicated) and 13.2Mt at 0.69 g/t Au containing 293koz (Inferred ) at a
0.30 g/t Au cut-off grade,
reported with an effective date of May 31, 2022.
2
This strategy of
accelerated exploration investment will allow refinement of targeting priorities and ensure
drilling
programs support both near-term development decisions and medium to long-term value creation.
Qualified Person
Jonathan Hill, Director and Interim Vice President of Exploration for Lavras Gold Corp., is the "Qualified
Person" as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects, and
has reviewed and approved the technical information contained in this release.
QA/QC
Quality Assurance & Quality Control: 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
500g 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 QA/QC program that includes the collection and analysis of duplicate samples and
the insertion of blanks and standards (certified reference material).
About the LDS Project
The LDS Project is centered on the town of Lavras do Sul in Rio Grande do Sul, Brazil. It is
approximately 320 kilometers, 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 34 mineral rights covering
approximately 23,000 hectares.
The LDS intrusive complex is a multiphase intrusive center 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 - Butiá with 377,000 ounces of gold in the Measured and
Indicated categories and 115,000 ounces of gold in the Inferred category, and Cerrito with 188,000
ounces of gold in the Indicated category and 293,000 ounces of gold in the Inferred category.
1
.
NI 43-101 Technical Report Mineral Resource for the Butiá Gold Prospect, Rio Grande do Sul,
Brasil. Prepared by VMG Consultoria e Soluções Ltda. January 25, 2022 (Effective Date).
2
.
NI 43-101 Technical Report Mineral Resource for the Cerrito Gold Prospect, Rio Grande do Sul,
Brasil. Prepared by VMG Consultoria e Soluções Ltda. May 31, 2022 (Effective Date).
About Lavras Gold Corp.
Lavras Gold Corp.
is a Canadian exploration company focused on realizing the potential of its LDS
Project situated in a highly prospective gold district in southern Brazil. The LDS Project is located near
the town of Lavras do Sul in Rio Grande do Sul, in Rio Grande do Sul State of Brazil 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 LDS Project properties, which span more than 23,000
hectares. For more information on Lavras Gold visit
www.lavrasgold.com
.
On Behalf of Lavras Gold Corp.
"
Hemdat Sawh
"
Interim CEO and CFO
Hemdat Sawh, Interim CEO, and CFO
Phone: +1-289-624-1375
Email:
Website:
www.lavrasgold.com
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, are forward-looking statements that involve various risks and uncertainties,
including regarding the Company's plans to carry out work, complete a technical report and a PEA.
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
.
Table 1.
Results for 9 diamond drill intersections at Caneleira Target performed by Lavras Gold (the
remaining 7 holes did not return significant results).
Drill Hole
From
(m)
To
(m)
Interval
(m)
Grade
(g/t Au)
20CN002
0.00
3.00
3.00
1.126
109.40
119.70
10.30
0.780
Including
116.50
118.50
2.00
2.425
20CN003
93.00
108.82
15.82
0.207
Including
99.06
100.30
1.24
1.385
20CN004
113.50
119.13
5.63
1.114
Including
117.35
118.50
1.15
4.710
24CN007
32.00
36.00
4.00
0.738
104.00
110.00
6.00
0.523
149.00
161.00
12.00
0.244
171.00
182.00
11.00
0.298
191.00
197.00
6.00
0.616
216.00
222.00
6.00
1.650
Including
221.00
222.00
1.00
9.070
231.00
236.00
5.00
0.578
260.00
263.00
3.00
1.207
280.00
281.00
1.00
2.710
340.00
351.00
11.00
0.565
24CN011
23.00
59.00
36.00
0.579
Including
33.00
39.00
6.00
1.939
Including
46.00
47.00
1.00
2.260
338.00
339.00
1.00
4.120
25CN012
166.00
168.00
2.00
0.558
185.00
189.00
4.00
0.592
203.00
206.00
3.00
0.566
258.00
352.00
94.00
0.170
25CN013
93.00
105.00
12.00
0.415
25CN015
98.00
99.00
1.00
1.100
25CN016
100.00
107.00
7.00
2.186
Including
103.00
105.00
2.00
6.112
131.00
146.00
15.00
21.663
Including
135.00
141.00
6.00
52.731
Including
139.00
141.00
2.00
132.933
Table 2.
Results for all diamond drill intersections at Caneleira Target performed by Amarillo Gold Corp.