Lavras Gold drills one g/t gold over 173 metres at LDS, Brazil

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Lavras Gold Corp. [TSXV-LGC; OTCQX-LGCFF] reported results from six 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. 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 Butia gold deposit.

Highlights: Hole 23FP011 returned 173.0 metres grading 1.0 g/t gold from 69.0 metres, 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; 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 returned 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; 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; 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 Michael Durose, president and CERO. “Results like these have the potential to materially enhance the economics of a combined Butia-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.”

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.

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 Butia gold deposit. Fazenda do Posto and Butia are both open to possible expansion in several directions.

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 Butia. 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.

Lavras Gold is 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.

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