..Just 2.1 km away from Butia......just look at those grades and continuous intercepts ..almost 100% drilling success...open at strike and dip.....combined with nearby FDP and Butia, there exists the possibility of a new orogenic style gold district in Brazil
Lavras Gold drills four m of 43.6 g/t Au at LDS
2023-08-02 12:51 ET - News Release
Mr. Michael Durose reports
LAVRAS GOLD ZECA SOUZA EXPANSION DRILLING HITS VISIBLE GOLD OF 43.6 G/T GOLD OVER 4 METRES STARTING NEAR SURFACE
Lavras Gold Corp. has noted continued exploration success at the Zeca Souza discovery on its LDS project in southern Brazil.
Assay results have been received from follow-up drilling at Zeca Souza, where an additional seven drill holes totalling 2,497 metres were completed. This brings the total number of drill holes at the target to 21 and total drilling metreage to 5,291 metres.
"We are very pleased with these follow-up drill results from Zeca Souza, where we are seeing more bonanza gold grade near the surface of this recent discovery and at depth in various parts of the target," said Michael Durose, Lavras Gold's president and chief executive officer. "The exceptional gold grades associated with visible gold in silicified stockwork-style veinlets, together with long intervals of elevated gold values relatively close to surface, suggest a robust gold system at Zeca Souza.
"Our next steps will be to follow up on these results to better understand the lateral and vertical continuity of the gold-hosting structures."
Key highlights include:
- Visible gold, near surface: hole 23BT004 returned four metres grading 43.59 grams per tonne (g/t) gold (Au) from 31 metres, including:
- One metre grading 52.30 g/t gold from 31 metres;
- One metre grading 9.28 g/t gold from 32 metres;
- One metre grading 110.50 g/t gold from 33 metres;
- One metre grading 2.28 g/t gold from 34 metres.
- The mineralization consists of visible gold within silicified veinlets in perthitic granite. The estimated vertical depth of this intercept is 26.8 metres.
- Visible gold, at depth: hole 23ZS018 intersected five metres grading 2.62 g/t gold from 264 metres, including one metre of visible gold grading 9.07 g/t gold from 267 metres:
- The high-grade interval is associated with visible gold within a larger interval hosting 2 per cent to 3 per cent disseminated sulphides (pyrite, trace sphalerite and galena) occurring within crosscutting silicified veinlets in altered perthitic granite. The estimated vertical depth of this intercept is 230 metres.
- Long interval, visible gold: Hole BT003 returned a long intercept of 32 metres grading 1.92 g/t gold from 126 metres and included higher-grade intervals, including:
- Nine metres grading 6.35 g/t gold from 145 metres;
- 1.24 metres grading 43.20 g/t gold from 147.60 metres, where visible gold was observed;
- The estimated vertical depth of this intercept is 124.7 metres.
- Long interval and open along strike: Hole 23ZS016 yielded multiple intercepts of elevated gold values throughout the hole, including a long interval of 28 metres grading 0.78 g/t gold from 241 metres that included:
- 16 metres at 1.22 g/t gold from 253 metres;
- Three metres at 1.80 g/t gold from 261 metres;
- Two metres grading 5.22 g/t gold from 267 metres;
- Mineralization is associated with hydrothermal alteration -- typically albite, silica, sericite, chlorite and disseminated sulphides (pyrite, and trace amounts of sphalerite and galena).
- Visible gold encountered over vertical extent of 204 metres: Visible gold has been found in five of 21 drill holes completed at Zeca Souza (24 per cent of holes drilled) and over a vertical distance of 204.40 metres. The shallowest drill hole intercept was hole 23BT004. The deepest drill hole intercept with visible gold occurred in hole 23ZS018.
Over all, gold-hosting structures at Zeca Souza have been extended to an area measuring 420 m by 523 m, an increase from the previous area of 375 m by 375 m.
Gold is typically associated with silicified zones with albite, sericite, chlorite and disseminated sulphides (pyrite, and trace amounts of sphalerite and galena), within hydrothermally altered, fractured and brecciated perthitic granite. Five holes intersected bonanza-style gold grades associated with visible gold in silicified stockwork-style veinlets and associated disseminated sulphides, including pyrite, and occasionally sphalerite and galena.
The discovery remains open in all directions and at depth.
Zeca Souza is one of 23 known gold targets at the LDS project. It is located 2.1 kilometres north of the Butia gold deposit.
Butia hosts a Nationals Instrument 43-101-compliant near-surface gold resource of about 500,000 ounces, as detailed in the NI 43-101 technical report mineral resource for Butia gold prospect dated and effective Jan. 25, 2022. The report was prepared by VMG Consultoria e Solucoes Ltda. for Lavras Gold, and is available on SEDAR under Lavras Gold's issuer profile.
Discussion of drilling results
A total of 21 drill holes totalling 5,291 metres of drilling have tested the Zeca Souza target, centred on historical workings spanning an area of 523 metres in a north-south direction, and 420 metres in an east-west direction.
The latest seven holes, consisting of 2,497 metres of drilling, tested:
- For the expansion of mineralization to the east, west and south of previous drilling;
- For continuity of mineralization between previous drill holes.
The table entitled "Summary table of drilling assay results from Zeca Souza target" tabulates all 21 drill holes completed at the Zeca Souza discovery, including the most recent holes discussed in this news release.
All seven drill holes in the most recent drilling program intercepted gold mineralization, as follows.
Northern fence -- four additional holes
Four additional holes were drilled into the northern fence, bringing the total holes drilled here to 11. All holes returned elevated gold values in at least one, but more typically multiple intercepts.
The westernmost hole, 23ZS017, returned multiple nominal narrow gold grades from surface. The highlight was eight metres grading 0.87 g/t gold from 234 metres, including:
- Three metres grading 1.73 g/t gold from 234 metres;
- One metre grading 1.33 g/t gold from 240 metres.
Other highlights include:
- Hole 23ZS016 returned a broad intercept of elevated gold consisting of 28 metres grading 0.78 g/t gold from 241 metres. There are three higher-grade subintervals, including:
- 16 metres grading 1.22 g/t gold from 253 metres;
- Three metres grading 1.80 g/t gold from 261 metres;
- Two metres grading 5.22 g/t gold from 267 metres;
- The gold is typically associated with hydrothermally altered perthitic granite consisting of albite, sericite, quartz and 2 per cent to 3 per cent disseminated sulphides (pyrite, and trace galena and sphalerite). There is good continuity between 23ZS016 and 22ZS010, collared 40 metres to the west.
- Hole 23ZS018 returned multiple intervals of elevated gold values. The best intercept included five metres grading 2.62 g/t gold from 264 metres, including:
- Two metres grading 6.06 g/t gold from 267 metres;
- One metre grading 9.07 g/t gold that included visible gold at a vertical depth of 231.20 metres;
- Importantly, a 0.76-metre interval of visible gold grading 43.50 g/t gold from 170.24 metres was encountered in hole 22ZS014, approximately 110 metres to the northwest of hole 23ZS018;
- Additionally, there are a series of surface trenches and old workings about 50 metres to the southwest of the trace of drill hole 23ZS018. The surface trenches and workings have been documented over a strike length of about 150 metres to 200 metres.
- Hole 23ZS019 returned multiple narrow intervals of elevated gold values. Highlights include:
- One metre grading 1.03 g/t gold from 97 metres;
- One metre grading 1.40 g/t gold from 108 metres.
Southern fence -- one additional hole
Previously, the southern fence of drill holes consisted of five holes testing an east-west strike length of about 350 metres. One additional hole, 23ZS015, was drilled to test the eastern extension of the southern fence of holes.
Multiple narrow zones of gold mineralization were encountered, including 0.80 metre grading 2.50 g/t gold from 278.57 metres. The trace of this drill hole is located about 66 metres southeast of old trenches and diggings.
The current interpretation is that this hole did not reach the targeted structure, which occurs farther south. Drone magnetic data and soil geochemistry suggest the target remains open along strike to the northeast.
Other areas -- south structure -- two additional holes
Previously, two holes -- 22ZS001 and 22ZS002 -- tested a southeast-northwest-trending structure south of the southern fence of drill holes.
These holes were collared north of the structural target, and the azimuth of the drill holes were oriented south. The interpretation is that these two holes missed the main structure that was being targeted, although several narrow elevated gold values were intercepted in both holes.
Two follow-up holes -- 23BT003 and 23BT004 -- were designed to follow up on this structural target, but were collared south of the structure, and the azimuth of the drill holes were oriented to north. Highlights of results of this drilling are as follows:
- Hole 23BT003 returned multiple intercepts of elevated gold values. The highlight was an interval of 32 metres grading 1.92 g/t gold from 126 metres (about 109 metres vertical), including:
- Nine metres grading 6.35 g/t gold from 145 metres, including:
- 1.24 metres grading 43.20 g/t gold from 147.76 metres (approximately 128 metres vertical). This higher-grade interval is associated with visible gold.
- Strong hydrothermal alteration of perthitic granite includes albite, hematite, chlorite, sericite and disseminated sulphides (pyrite, and trace sphalerite and galena).
- Hole 23BT004 returned 43.59 g/t gold over four metres from 31 metres, or approximately 26.80 metres vertical distance. This intercept is associated with visible gold hosted within an aphanitic glassy vitreous host. Hydrothermal alteration consisting of albite, hematite, chlorite and sericite, and sulphides (pyrite, and trace galena and sphalerite). Elevated trace elements include barium, tellurium, lead and zinc.
Importance of visible gold intercepts
Five of the 21 holes drilled into the Zeca Souza discovery have returned visible gold, typically with bonanza gold grades associated with silicified stockwork.
This is important as there are many different styles of gold mineralization on the LDS project, including low-grade bulk-tonnage targets (for example, Butia gold deposit). The discovery of a higher-grade, potentially lower-tonnage zone of mineralization at Zeca Souza could enhance the overall future project economics for the LDS project.
The key takeaways from the visible gold results at Zeca Souza are as follows:
- Visible gold was found in five of 21 drill holes, representing 24 per cent of the holes drilled into the Zeca Souza discovery so far:
- Importantly, visible gold was found in two holes in the northern fence, one occurrence of visible gold was found in the southern fence of holes, and two occurrences of visible gold were found in the southernmost structure.
- Therefore, visible gold has been found in a north-south corridor of up to 375 metres, and an east-west extent of 237 metres with the limits of visible gold intercepts yet to be been defined.
- Visible gold has been encountered in drilling over a vertical distance of about 204.40 metres as follows:
- The shallowest visible gold intercept was found in 23BT004 that intercepted four metres grading 43.59 g/t gold at a vertical depth of 26.80 metres. This included a one-metre interval of 110.50 g/t gold from 33 metres. This occurred in the south structure.
- The deepest drill hole intercept of visible gold was found in drill hole 23ZS018, which returned one metre grading 9.07 g/t gold at a vertical depth of 231.20 metres. This occurred in the northern fence of drill holes.
- Drill hole 22ZS011 returned three metres grading 28.24 g/t gold at a vertical depth of 99.60 metres, hole 23BT003 yielded 1.24 metres grading 43.20 g/t gold at a vertical depth of 128 metres and hole 22ZS014 returned 0.76 metre grading 43.50 g/t gold. This occurred in the north fence of drill holes at a vertical depth of 147.40 metres.
Further work is required to better understand the continuity of visible gold within the Zeca Souza discovery. Nevertheless, the fact that visible gold is being found over significant lateral and vertical extents is a testament to the robust nature of the gold system.
Summary of petrographic analysis from hole 22ZS011
A piece of drill core from drill hole 22ZS011 was submitted for petrographic examination. Results from petrographic work completed on drill hole 22ZS011 indicates that the visible gold is electrum. The electrum consists of approximately 90 per cent gold and 10 per cent silver.
This piece of drill core is interpreted to be an altered and brecciated possible granodiorite composed mainly of quartz (30 per cent), sodic K-feldspar (35 per cent) in a sealing groundmass dominated by albite, Fe (iron)-chlorite, Fe-muscovite (phengitic and paragonitic mica), Nb (niobium)-rutile, Mn (manganese)-ilmenite, zircon and F-apatite. Visible gold (electrum) was noted in core.
Big coarse grains of sodic K-feldspar and coarse-grained quartz are interpreted to represent relict phenocrysts. The rock appears to have been subjected to at least two hydrothermal breccia events. The first would be the original granodiorite composed of coarse-grained pink sodic K-feldspar, and quartz grains brecciated and sealed by chlorite, albite and phengitic muscovite. In another area of the core, the rock appears to have been subsequently brecciated and sealed by dog-tooth quartz grains. This coarser-grained quartz seals and wraps around fragments of the earlier hydrothermal alteration hosting phengitic muscovite, chlorite and albite.
The sulphide suite is dominated by complex intergrowths of pyrite-chalcopyrite-galena. Also noted are coarse clusters of blackjack sphalerite (Fe-sphalerite) hosting minute inclusions of galena. There are also anastomosing micro-veinlets of galena. Interestingly, the rock contains veinlets of complex sulphide assemblages of pyrite intergrown with galena and electrum. The galena does not appear to carry a silver (Ag) component.
The electrum in the veinlets is quite coarse (up to one millimetre (mm)) and appears to be intimately associated with the galena, but occasionally found with pyrite. The electrum in these veinlets have between 8.2 per cent and 16 per cent Ag. There appears to be a second generation of electrum associated with a more retrogressive event. This is evident by the presence of electrum hosted within chlorite as inclusions and on the chlorite margin. The composition of this electrum contains approximately 8 per cent to 10 per cent Ag. The presence of the zircons (with inclusions of galena) in the groundmass phases may present a datable mineral for timing of the pyrite-galena-electrum veining event.
Next steps at Zeca Souza
The geological team is compiling and analyzing these drilling results generated from Zeca Souza to better understand the nature of the gold-bearing structures hosting the gold.
This follow-up drilling program tested targets to moderate vertical depths of up to 300 metres. The deposit remains open to possible expansion to the north, southeast and west.
Furthermore, five of the 21 holes encountered bonanza gold grades associated with visible gold in crosscutting silicified stockwork-style veinlets. These five bonanza gold grade intercepts were found in different parts of the Zeca Souza gold system -- two in the northern fence of holes and one in the southern fence of holes, and two in the south structure.
The high-grade interval of drill hole ZS22011 was surrounded by a halo of lower-grade mineralization typically associated with 1 per cent to 2 per cent disseminated sulphides (pyrite plus/minus sphalerite and galena). Better understanding the relationship between the bonanza gold grades and lower tenor gold is the company's focus.
However, it is clear from petrographic studies that there are at least two, and possibly more, hydrothermal and mineralizing events at Zeca Souza.
Qualified person
Mr. Durose, Lavras Gold's president and chief executive officer, is a qualified person as defined by NI 43-101. He has reviewed and approved the scientific and technical information contained in this release.
Quality assurance and quality control
For the Zeca Souza discovery, 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, Goias state, Brazil, for preparation by crushing to 70 per cent passing two mm, riffle splitting to obtain 500-gram (g) aliquots and pulverizing to 85 per cent passing 75 microns.
Pulps are shipped to ALS Laboratories in Lima, Peru, and analyzed by a 30 g fire assay and AAS (atomic absorption spectroscopy) finish. For assays above 10 parts per million (ppm) gold, a cut of the original pulp was reassayed with a gravimetric finish.
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 per cent of the total samples. Results are routinely evaluated for accuracy, precision and contamination.
The company 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.
About Lavras Gold Corp.
Lavras Gold is a Canadian exploration company focused on realizing the potential of a multimillion-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 23 gold prospects centred on historic gold workings have been identified on the property, which spans more than 22,000 hectares.