Lavras Gold drills 251 metres of 1.2 g/t gold at Fazenda do Posto Gold Target, LDS Project, Brazil
Lavras Gold Corp. [TSXV: LGC; OTCQX: LGCFF] reported results from 12 new drill holes representing 4,007 metres, testing the Fazenda do Posto Gold Target located at the western side of the LDS Project, 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 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: 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.
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.”
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.
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.
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.
The company’s 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 approximately 23,000 hectares.