Drilling intersection includes 1.6 g/t gold over 199 meters, including 2.4 g/t gold over 20 metres
Toronto, Ontario--(Newsfile Corp. - June 25, 2024) - Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) ("Lavras Gold" or the "Company") is pleased to release the results from seven new drillholes testing the Butiá Gold Deposit, located at the western edge of the LDS Project in southern Brazil. Gold mineralization was intersected in all seven holes reported in this news release at the Butiá Gold Deposit ("Butiá" or "Butiá Gold Deposit)", which hosts a NI43-101 compliant measured, indicated and inferred gold resource of approximately 0.5 million ounces. Three of these seven new holes returned more than 200 metres of continuous gold mineralization characterized by higher-grade subintervals.
The purpose of these drillholes was two-fold: several holes were infill holes designed to increase the confidence in the Butiá resource (converting the Inferred Resource into the Measured & Indicated categories) and other holes were drilled to potentially increase the gold endowment as explained below. 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 the Butiá Gold Deposit and the adjacent Fazenda do Posto gold target.
HIGHLIGHTS
Drilling
Hole 23BT019 returned:
Hole 24BT023 intersected:
"We are very excited by the results that we are seeing at Butiá, with these new drilling results continuing to demonstrate the excellent near-surface gold grade and continuity of the Butiá Gold Deposit," commented Lavras CEO Michael Durose. "Long continuous intervals of gold mineralization over more than 200 metres depth and beginning at surface confirm the bulk-tonnage nature of Butiá. The presence of visible gold in cross-cutting stockwork-style quartz veinlets in 24BT019 highlights multiple gold mineralizing events, locally enhancing gold grade. This style of mineralization has been seen property wide in other targets that we have drilled including Zeca Souza, Galvao, and Matilde. Laterally, a higher-grade core of mineralization has been defined over at least 100 metres of strike length within the Butiá Gold Deposit, starting at surface. This has potentially positive implication for a future open pit mine."
Click here for commentary from CEO Michael Durose on today's drilling results.
An update of drilling results for Fazenda do Posto target is expected as soon as final assay results are received and the geological interpretation is completed. Drilling is on-going in this area after a short delay related to recent unusually heavy rain in the area.
[* Footnote: Butiá hosts an NI 43-101 compliant near-surface gold resource of about 500,000 ounces, as detailed in the NI 43-101 Technical Report Mineral Resource for Butiá Gold Prospect dated and effective January 25, 2022. The report was prepared by VMG Consultoria e Soluções Ltda. for Lavras Gold Corp. and is available on the Company's website and www.sedar.com under Lavras Gold's issuer profile.]
Discussion of Drill Results - Butiá Deposit
Figure 1 indicates the location of the mineral showings on the LDS Project. Butiá is the most advanced gold deposit on the LDS Property consisting of approximately 0.5 million ounces of gold, located 150 metres east of the recent Fazenda do Posto gold discovery. The purpose of the current drilling program at Butiá is to increase the geological confidence of the existing gold resource by converting a significant portion of inferred geological resources into the measured and indicated categories and to increase the gold endowment of the existing gold resource. Recent drilling results from Butiá were disclosed in the Lavras Gold News Release dated February 06, 2024.
Details of the locations of the new drillholes relative to existing resource categories can be found in the plan view in Figure 2. A long section looking northeast is shown in Figure 3.Table 1 summarizes assay results including newly disclosed results in this press release, and results disclosed earlier this year. Table 2 tabulates drillhole information including collar coordinates and drillhole depths. Note thatthe collar coordinates for Butiá have been updated to reflect a recently completed detailed land survey of all drill collars versus the GPS coordinates previously disclosed.
Drillhole 23BT019 was collared about 100 metres northwest of drillhole 23BT016 and 23BT018 in the north-central portion of the Butiá Gold Deposit (see Figure 2). The hole was designed to test the lateral continuity of higher-grade mineralization encountered in hole 23BT016 that included 109.0 metres grading 1.40 g/t gold from surface. 23BT019 was drilled vertically (see Figure 3) for the purpose of characterizing the vertical continuity of mineralization and defining the mineral deposit at depth. A long interval of continuous bulk-tonnage disseminated gold mineralization was encountered from surface to a depth of 236.0 metres within mineralized episyenite with minor subintervals of perthitic granite as detailed below.
Drillhole 23BT019 confirms continuous gold mineralization to a depth of 239.0 metres and lateral continuity of a higher-grade core of gold mineralization starting at surface over an extent of about 100 metres. There are many higher-grade subintervals encountered in 23BT019, including areas with higher concentrations of sulphides within episyenite and/or perthitic granite, and two zones of narrow cross-cutting quartz veinlets hosting visible gold (see Figures 4, 5 and 6). These cross-cutting veinlets with visible gold are very high-grade (greater than 40 g/t gold) and highlight a later-stage gold mineralizing event that was superimposed on the original disseminated gold event associated with episyenite and perthitic granite host rock. The cross-cutting visible gold veinlets appear similar to those seen at the Zeca Souza and Galvão gold discoveries located about 1.5 kilometres north of Butiá (see News Releases dated September 7, 2022 for Zeca Souza and May 9, 2023 for Galvão) where visible gold in cross-cutting stockwork veins was encountered. Late-stage visible gold associated with glassy quartz has also been encountered at the Matilde gold discovery in the southern portion of the LDS Project (see Figure 1). Note that if the two high-grade gold intervals in 23BT019 are cut back to 10 g/t gold (from 44.4 g/t gold and 48.3 g/t gold respectively), then the composite interval becomes 239.0 m grading 1.1 g/t gold from surface. Nevertheless, it is possible that future "sweet spots" will be found at Butiá with future drilling related to the quartz-stockwork style of gold mineralization.
Drillhole 24BT023 was collared about 50 metres northwest of drillhole 23BT016 and 23BT018 in the central-west portion of the Butiá gold deposit and drilled vertically (see Figure 2 & Figure 3). The purpose of this hole was to better understand the nature, grade and continuity of gold mineralization in this portion of the deposit. Continuous gold mineralization was encountered over long intervals in episyenite and mineralized perthitic granite. Higher-grade subintervals have been observed within zones of episyenite hosting pyrite +/-arsenian pyrite. A summary of assay composites is as follows:
Hole 24BT023 provides a clear indication of long continuous gold mineralization vertically to depths of more than 200 metres, and laterally in a northwest-southeast direction as it is located midway between 23BT019 and 23BT016.
Drillhole 23BT018 was positioned in the southwest-central portion of the Butiá gold deposit, slightly south of the currently interpreted measured portion of the gold resource and drilled vertically (see Figures 2 and 3). The purpose of this hole was to better grasp the nature of the geology and mineralization vertically in this portion of the deposit. A continuous bulk-tonnage and disseminated style of mineralization consisting mainly of disseminated pyrite +/- arsenian pyrite within episyenite +/- perthitic granite occurred from surface to a depth of 221.0 metres having an average grade of 0.8 g/t gold. This included several higher-grade subintervals as detailed below:
Gold mineralization occurs within mineralized episyenite and perthitic granite. Higher grade subintervals are associated with elevated concentrations of sulphide minerals.
Drillhole 24BT020 was collared along the southeastern edge of the Butiá mineralized footprint and drilled on an azimuth of 200 degrees and inclined 60 degrees (see Figures 2 and 3). The purpose of this hole was to test the southeastern extension of the deposit. Only one minor interval of gold mineralization consisting of 1.0 metre grading 1.2 g/t gold was encountered within perthitic granite.
Drillhole 24BT021 was positioned along the southeastern edge of the Butiá Gold Deposit and drilled along an azimuth of 020 degrees at an inclined angle of 60 degrees (see Figures 23). The hole encountered 77.0 metres of continuous gold mineralization grading 0.4 g/t gold from 22.0 metres, including several moderately higher-grade subintervals including 40.0 metres grading 0.6 g/t gold from 59.0 metres, and 24.0 metres grading 0.7 g/t gold from 72.00 metres.
Drillhole 24BT022 was designed to test the southeast extension of Butiá and encountered several narrow low-grade intervals of gold mineralization within predominantly fresh rock (perthitic granite).
Drillhole 23BT017 was collared along the northwestern edge of Butiá and was positioned to test the extension of the Butiá Gold Deposit to the northwest (see Figure 2 and Figure 3). The hole encountered 53.0 metres grading 0.5g/t gold in mineralized episyenite from 80.0 metres. This included two higher grade subintervals including 5.0 meters grading 1.5 g/t gold from 119.0 metres, and 2.0 metres grading 2.5 g/t gold from 130.0 metres.
Drillhole 23BT017 was successful in extending the mineralized footprint at Butiá about 65.0 metres northwest of previous drilling.
Correction to Press Release dated May 30, 2024
The Company clarifies that it granted 97,242 Restricted Share Units to officers of the Company instead of 101,419 as disclosed in its press release dated May 30, 2024.
Table 1. Summary of Drillhole Composites from the Butiá Gold Deposit
| Drillhole |
|
From |
To |
Interval |
Gold grade |
Comment |
|
|
(metres) |
(metres) |
(metres) |
(grams/tonne) |
|
| 23BT005 |
|
0.00 |
37.00 |
37.00 |
0.74 |
Episyenite/Perthitic Granite |
|
including |
4.00 |
23.00 |
19.00 |
1.17 |
Saprolite |
|
|
97.00 |
99.00 |
2.00 |
0.32 |
Perthitic Granite |
|
|
101.00 |
103.00 |
2.00 |
0.27 |
Perthitic Granite |
|
|
|
|
|
|
|
| 23BT009 |
|
54.00 |
58.00 |
4.00 |
0.61 |
Episyenite |
|
|
73.00 |
89.00 |
16.00 |
0.63 |
Episyenite |
|
including |
74.00 |
81.00 |
7.00 |
1.14 |
Episyenite |
|
|
121.00 |
186.00 |
65.00 |
0.51 |
Episyenite/Perthitic Granite |
|
including |
141.00 |
159.16 |
18.16 |
0.99 |
Episyenite |
|
including |
127.00 |
131.00 |
4.00 |
0.80 |
Episyenite |
|
including |
141.00 |
149.00 |
8.00 |
1.49 |
Episyenite |
|
including |
142.00 |
145.00 |
3.00 |
2.10 |
Episyenite |
|
including |
168.00 |
172.00 |
4.00 |
1.29 |
Perthitic Granite |
|
including |
177.00 |
178.00 |
1.00 |
0.76 |
Perthitic Granite/Episyenite |
|
including |
182.00 |
186.00 |
4.00 |
0.65 |
Episyenite/Perthitic Granite |
|
|
208.00 |
220.00 |
12.00 |
0.89 |
Perthitic Granite |
|
including |
208.00 |
210.00 |
2.00 |
1.22 |
Perthitic Granite |
|
including |
214.00 |
219.00 |
5.00 |
1.50 |
Perthitic Granite |
|
|
239.00 |
242.00 |
3.00 |
0.45 |
Perthitic Granite |
|
including |
239.00 |
240.00 |
1.00 |
0.81 |
Perthitic Granite |
|
|
|
|
|
|
|
| 23BT010 |
|
0.00 |
46.00 |
46.00 |
0.48 |
Episyenite |
|
Including |
0.00 |
9.00 |
9.00 |
1.15 |
Episyenite |
|
Including |
17.00 |
19.00 |
2.00 |
1.18 |
Episyenite |
|
|
40.00 |
42.00 |
2.00 |
0.58 |
Perthitic Granite |
|
|
45.00 |
46.00 |
1.00 |
0.81 |
Perthitic Granite |
|
|
61.00 |
63.00 |
2.00 |
0.44 |
Perthitic Granite |
|
|
68.00 |
73.00 |
5.00 |
0.30 |
Perthitic Granite |
|
|
96.00 |
100.00 |
4.00 |
0.46 |
Perthitic Granite |
|
including |
96.00 |
97.00 |
1.00 |
1.23 |
Perthitic Granite |
|
|
110.00 |
111.00 |
1.00 |
0.51 |
Episyenite |
| 23BT011 |
|
12.00 |
22.00 |
10.00 |
0.76 |
Perthitic Granite |
|
including |
13.00 |
15.00 |
2.00 |
2.64 |
Perthitic Granite |
|
|
|
|
|
|
|
| 23BT012 |
|
67.00 |
74.00 |
7.00 |
0.51 |
Episyenite |
|
|
136.00 |
246.00 |
110.00 |
0.71 |
Episyenite |
|
Including |
142.00 |
147.00 |
5.00 |
1.27 |
Episyenite |
|
Including |
142.00 |
144.00 |
2.00 |
2.68 |
Episyenite |
|
Including |
154.00 |
174.00 |
20.00 |
1.59 |
Episyenite |
|
Including |
154.00 |
157.00 |
3.00 |
4.20 |
Episyenite |
|
Including |
163.00 |
166.00 |
3.00 |
6.06 |
Episyenite |
|
Including |
179.00 |
182.00 |
3.00 |
2.77 |
Episyenite |
|
Including |
191.00 |
193.00 |
2.00 |
4.08 |
Episyenite |
|
Including |
205.00 |
206.00 |
1.00 |
0.90 |
Episyenite |
|
Including |
218.00 |
220.69 |
2.69 |
1.12 |
Episyenite |
|
Including |
227.00 |
229.00 |
2.00 |
0.83 |
Episyenite |
|
Including |
231.50 |
233.51 |
2.01 |
0.80 |
Episyenite |
|
Including |
240.18 |
242.02 |
1.84 |
1.27 |
Episyenite |
|
Including |
243.30 |
244.00 |
0.70 |
1.11 |
Episyenite |
|
|
253.53 |
255.37 |
1.84 |
1.59 |
Perthitic Granite |
|
|
313.00 |
332.00 |
19.00 |
0.60 |
Perthitic Granite |
|
Including |
325.00 |
327.00 |
2.00 |
1.73 |
Perthitic Granite |
|
Including |
329.00 |
331.00 |
2.00 |
1.43 |
Perthitic Granite |
|
|
|
|
|
|
|
| 23BT013 |
|
4.00 |
5.00 |
1.00 |
0.44 |
Perthitic Granite |
|
|
15.00 |
19.00 |
4.00 |
0.30 |
Perthitic Granite |
|
|
53.00 |
55.00 |
2.00 |
0.35 |
Perthitic Granite |
|
|
56.00 |
57.00 |
1.00 |
0.26 |
Perthitic Granite |
|
|
61.00 |
62.00 |
1.00 |
0.44 |
Perthitic Granite |
|
|
71.00 |
72.00 |
1.00 |
0.60 |
Perthitic Granite |
|
|
107.00 |
109.00 |
2.00 |
0.34 |
Perthitic Granite |
|
|
119.00 |
192.00 |
73.00 |
0.74 |
Episyenite |
|
including |
136.00 |
171.00 |
35.00 |
1.18 |
Episyenite |
|
including |
136.00 |
139.00 |
3.00 |
1.00 |
Episyenite |
|
including |
146.00 |
158.00 |
12.00 |
1.54 |
Episyenite |
|
including |
146.00 |
149.00 |
3.00 |
2.21 |
Episyenite |
|
|
200.00 |
201.00 |
1.00 |
0.91 |
Episyenite |
|
|
202.00 |
203.00 |
1.00 |
0.32 |
Episyenite |
|
|
207.00 |
210.00 |
3.00 |
0.59 |
Episyenite |
|
|
215.00 |
217.00 |
2.00 |
0.34 |
Episyenite |
|
|
218.00 |
221.00 |
3.00 |
1.88 |
Perthitic Granite |
|
|
225.00 |
228.00 |
3.00 |
0.46 |
Perthitic Granite |
|
|
231.00 |
233.00 |
2.00 |
0.40 |
Perthitic Granite |
|
|
236.00 |
237.00 |
1.00 |
0.25 |
Perthitic Granite |
|
|
245.00 |
246.00 |
1.00 |
0.25 |
Perthitic Granite |
|
|
248.00 |
249.00 |
1.00 |
0.34 |
Perthitic Granite |
|
|
257.00 |
258.00 |
1.00 |
0.35 |
Perthitic Granite |
|
|
|
|
|
|
|
| 23BT014 |
|
43.00 |
47.00 |
4.00 |
0.45 |
Perthitic Granite |
|
|
84.00 |
85.00 |
1.00 |
0.32 |
Perthitic Granite |
|
|
182.62 |
185.00 |
2.38 |
0.72 |
Perthitic Granite |
|
|
215.00 |
216.00 |
1.00 |
0.36 |
Perthitic Granite |
|
|
250.00 |
260.00 |
10.00 |
1.45 |
Episyenite, visible gold, galena |
|
|
|
|
|
|
|
| 23BT015 |
|
161.33 |
162.45 |
1.12 |
0.27 |
Perthitic Granite |
|
|
182.00 |
184.00 |
2.00 |
0.29 |
Perthitic Granite |
|
|
242.00 |
243.00 |
1.00 |
0.24 |
Perthitic Granite |
|
|
269.00 |
274.00 |
5.00 |
0.62 |
Perthitic Granite |
|
including |
272.00 |
273.00 |
1.00 |
1.73 |
Perthitic Granite |
|
|
|
|
|
|
|
| 23BT016 |
|
0.00 |
160.00 |
160.00 |
1.04 |
Episyenite |
|
including |
0.00 |
109.00 |
109.00 |
1.36 |
Episyenite |
|
including |
25.00 |
54.00 |
29.00 |
2.90 |
Episyenite |
|
including |
29.00 |
34.00 |
5.00 |
4.65 |
Episyenite |
|
including |
30.00 |
48.00 |
18.00 |
3.22 |
Episyenite |
|
|
183.00 |
187.00 |
4.00 |
0.34 |
|
|
|
208.00 |
224.00 |
16.00 |
1.03 |
Episyenite |
|
including |
208.00 |
214.00 |
6.00 |
2.06 |
Episyenite |
|
|
256.00 |
257.00 |
1.00 |
0.25 |
Episyenite |
|
|
263.00 |
264.00 |
1.00 |
0.29 |
Episyenite |
|
|
266.00 |
267.00 |
1.00 |
0.28 |
Episyenite |
|
|
270.00 |
287.00 |
17.00 |
0.43 |
Episyenite |
|
|
292.00 |
293.00 |
1.00 |
0.28 |
Episyenite |
|
|
316.00 |
323.00 |
7.00 |
0.35 |
Episyenite |
|
|
|
|
|
|
|
| 23BT017 |
|
80.00 |
133.00 |
53.00 |
0.54 |
Episyenite |
|
including |
107.00 |
115.00 |
8.00 |
0.99 |
Episyenite |
|
including |
119.00 |
124.00 |
5.00 |
1.48 |
Episyenite |
|
including |
130.00 |
132.00 |
2.00 |
2.53 |
Episyenite |
|
|
|
|
|
|
|
| 23BT018 |
|
0.00 |
221.00 |
221.00 |
0.81 |
Episyenite +/- Perthitic Granite |
|
including |
0.00 |
130.00 |
130.00 |
1.15 |
Episyenite +/- Perthitic Granite |
|
including |
32.00 |
42.00 |
10.00 |
1.60 |
Episyenite |
|
including |
47.00 |
57.00 |
10.00 |
1.42 |
Episyenite |
|
including |
117.00 |
125.00 |
8.00 |
3.53 |
Perthitic Granite + Episyenite |
|
|
|
|
|
|
|
| 23BT019 |
|
0.00 |
236.00 |
236.00 |
1.35 |
Episyenite +/- Perthitic Granite |
|
including |
1.00 |
2.00 |
1.00 |
1.57 |
Saprolite |
|
including |
37.00 |
236.00 |
199.00 |
1.56 |
Episyenite +/- Perthitic Granite |
|
including |
75.00 |
149.00 |
74.00 |
2.45 |
Episyenite +/- Perthitic Granite |
|
including |
83.31 |
84.00 |
0.69 |
44.40 |
Visible gold in QV |
|
including |
94.00 |
95.00 |
1.00 |
48.30 |
Visible gold in QV |
|
including |
161.00 |
176.00 |
15.00 |
2.09 |
Episyenite +/- Perthitic Granite |
|
including |
185.00 |
187.86 |
2.86 |
3.66 |
Episyenite |
|
including |
195.00 |
215.00 |
20.00 |
2.35 |
Episyenite +/- Perthitic Granite |
|
|
|
|
|
|
|
| 24BT020 |
|
71.00 |
72.00 |
1.00 |
1.18 |
Perthitic Granite |
|
|
|
|
|
|
|
| 24BT021 |
|
0.00 |
3.00 |
3.00 |
0.63 |
Saprolite |
|
|
22.00 |
99.00 |
77.00 |
0.37 |
Perthitic Grante +/- Episyenite |
|
including |
22.00 |
25.00 |
3.00 |
0.59 |
Perthitic Granite |
|
including |
22.00 |
23.00 |
1.00 |
1.25 |
Perthitic Granite |
|
including |
59.00 |
99.00 |
40.00 |
0.55 |
Perthitic Granite +/- Episyenite |
|
including |
59.00 |
60.00 |
1.00 |
0.54 |
Perthitic Granite |
|
including |
66.00 |
67.00 |
1.00 |
1.04 |
Metasomitite |
|
including |
72.00 |
96.00 |
24.00 |
0.69 |
Perthitic Granite |
|
|
108.00 |
110.00 |
2.00 |
0.25 |
Perthitic Granite |
|
|
|
|
|
|
|
| 24BT022 |
|
34.00 |
39.00 |
5.00 |
0.23 |
Perthitic Granite |
|
including |
34.00 |
35.00 |
1.00 |
0.69 |
Perthitic Granite |
|
including |
38.00 |
39.00 |
1.00 |
0.32 |
Perthitic Granite |
|
|
|
|
|
|
|
| 24BT023 |
|
0.00 |
228.00 |
228.00 |
1.03 |
Episyenite +/- Perthitic Granite |
|
including |
35.00 |
135.00 |
100.00 |
1.64 |
Episyenite |
|
including |
72.00 |
228.00 |
156.00 |
1.30 |
Episyenite +/- Perthitic Granite |
|
Including |
72.00 |
213.00 |
141.00 |
1.37 |
Episyenite +/- Perthitic Granite |
|
including |
72.00 |
170.00 |
98.00 |
1.71 |
Episyenite +/- Perthitic Granite |
|
including |
72.00 |
132.00 |
60.00 |
2.31 |
Episyenite +/- Perthitic Granite |
|
including |
72.00 |
92.00 |
20.00 |
2.58 |
Episyenite |
|
including |
72.00 |
77.00 |
5.00 |
3.25 |
Episyenite |
|
including |
77.00 |
82.00 |
5.00 |
3.15 |
Episyenite |
|
including |
87.00 |
92.00 |
5.00 |
3.00 |
Episyenite |
- Assumes 0.25 g/t gold cut-off grade, no top cut.
- The Company has been targeting larger intersections of greater than 0.25 g/t gold. Intersections lower than this threshold may provide exploration insight and may therefore be disclosed.
- Intervals represent drill core interval; true widths have not been determined at this time.
Table 2. Butiá Drillhole Coordinates
| Drillhole |
Easting |
Northing |
Elevation (m) |
Azimuth (Degrees) |
Dip (degrees) |
Start Depth (metres) |
Final Depth (metres) |
| 23BT005 |
217984 |
6586490 |
387 |
20 |
-60 |
0 |
230.19 |
| 23BT009 |
218119 |
6586240 |
407 |
20 |
-60 |
0 |
252.95 |
| 23BT010 |
217984 |
6586486 |
387 |
200 |
-60 |
0 |
159.79 |
| 23BT011 |
218022 |
6586572 |
382 |
20 |
-60 |
0 |
200.55 |
| 23BT012 |
218043 |
6586240 |
407 |
20 |
-60 |
0 |
358.13 |
| 23BT013 |
218095 |
6586397 |
400 |
0 |
-90 |
0 |
317.87 |
| 23BT014 |
217999 |
6586257 |
410 |
20 |
-60 |
0 |
331.33 |
| 23BT015 |
218125 |
6586212 |
404 |
20 |
-60 |
0 |
294.37 |
| 23BT016 |
218152 |
6586454 |
393 |
200 |
-60 |
0 |
357.66 |
| 23BT017 |
217973 |
6586670 |
383 |
200 |
-60 |
0 |
253.74 |
| 23BT018 |
218152 |
6586456 |
393 |
0 |
-90 |
0 |
256.36 |
| 23BT019 |
218102 |
6586534 |
385 |
0 |
-90 |
0 |
276.54 |
| 24BT020 |
218187 |
6586357 |
398 |
200 |
-60 |
0 |
76.35 |
| 24BT021 |
218171 |
6586366 |
397 |
20 |
-60 |
0 |
125.93 |
| 24BT022 |
218222 |
6586349 |
396 |
20 |
-60 |
0 |
78.72 |
| 24BT023 |
218126 |
6586494 |
389 |
0 |
-90 |
0 |
275.96 |
Figure 1. Regional Soil Geochemistry Anomalies versus Geology of the Lavras do Sul Intrusive Complex and Known Mineral Showings
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/214245_ca38856e94637ba1_002full.jpg
Figure 2. Plan View of 2023 and 2024 Butiá Drillholes Relative to Resource Categories
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https://images.newsfilecorp.com/files/10429/214245_ca38856e94637ba1_003full.jpg
Figure 3. Long-Section Looking Northeast of 2023 and 2024 Butiá Drillholes Relative to Resource Categories
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/214245_ca38856e94637ba1_004full.jpg
Figure 4. Episyenite from Drillhole 23BT019 showing Vugs (Open Spaces) in Matrix and 1-2% Disseminated Pyrite with Iron-rich Chlorite.
The Vugs Created Permeability and Porosity in the Original Granodiorite Followed by a Subsequent Gold Mineralization Event. This Sample from Drillhole 23BT019 Spans the Interval 36.0 m to 37.0 m and Grades 0.72 g/t Gold.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/214245_ca38856e94637ba1_005full.jpg
Figure 5. Milky White to Glassy Quartz Stockwork Style Veinlet with Dark Chlorite +/- Sericite, Disseminated Sulphides and Visible Gold Cross-Cutting Original Episyenite Host Rock at Butiá Gold Deposit.
The Visible Gold is Shown in the Blue Circle on the Far Right-Hand Side of the Diagram Associated with Glassy Quartz. This sample from Drillhole 23BT019 is from Interval 83.31 m to 84.00 m and grades 44.4 g/t gold.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/214245_ca38856e94637ba1_006full.jpg
Figure 6. Episyenite with Iron-Rich Dark Chlorite and Sulphide Minerals in Matrix Shown on Left-Side of Photo Transitioning to Perthitic Granite on Right-Hand Side of Photo Characterized by Milky Quartz and Lessor Amounts of Iron-Rich Dark Chlorite and Sulphides in Matrix.
The Transition is Postulated to be Related to a Change in the Chemistry of the Original Mineralizing Fluids that Switch from Alkaline to Acidic Respectively. This Sample is from Drillhole 23FP019 from 187.86 metres to 189.00 metres.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10429/214245_ca38856e94637ba1_007full.jpg
About the LDS Project
The LDS Project is centred on the town of Lavras do Sul in Rio Grande do Sul, Brazil. It is approximately 320 kilometres, 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 29 mineral rights covering 22,000 hectares.
The LDS intrusive complex is a multiphase intrusive centre 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, which have consolidated NI 43-101 resources of approximately 1 million ounces.
About Lavras Gold Corp.
Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) is a Canadian exploration company 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. Follow Lavras Gold on www.lavrasgold.com, as well as on LinkedIn, Instagram, Twitter and YouTube.
Michael Durose, President & CEO for Lavras Gold Corp., is the qualified person ("QP") as defined by Canadian National Instrument 43-101 and has reviewed and approved the technical information contained in this release.
On Behalf of Lavras Gold Corp.
"Michael Durose"
President & CEO
For further information, please visit the Lavras Gold Corp. website at www.lavrasgold.com, or contact:
Michael Durose, President & CEO
or
Naomi Nemeth, VP Investor Relations
Phone: +1-289-624-1343 or +1-289-624-1377
Email: investor@lavrasgold.com
Instagram: lavrasgold
Website: www.lavrasgold.com
X (Twitter): @LavrasGold
Additional Technical Notes:
Quality Assurance & Quality Control: For the Butiá Gold Deposit, 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 500 g 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 QAQC program that includes the collection and analysis of duplicate samples and the insertion of blanks and standards (certified reference material).
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, including, without limitation, statements regarding the Company's further 2024 drill plans and future results at the LDS Project are forward-looking statements that involve various risks and uncertainties. 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.
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