Lavras Gold (TSXV:LGC) Confirms and Expands Gold Discovery with 204 metres Grading 1.0 g/t Gold Starting at Depth of 31 Metres at Fazenda do Posto, Eyes Future Development

Lavras Gold (TSXV:LGC) recently announced significant follow-up drilling results at their Fazenda do Posto discovery within the LDS Project in southern Brazil. This discovery, initially reported in August 2023, has now been further validated in terms of gold grades, widths, and continuity, with potential for resource expansion in several directions.

Lavras Gold President & CEO Michael Durose commented in a press release: “We are very pleased to validate the Fazenda do Posto gold discovery with this scissor hole, which cross cuts the earlier hole that returned 340 m at 1.1 g/t gold. While it is still early in the drilling program, we are delighted to have intercepted another very long and continuous zone of gold mineralization starting at a shallow depth and running for over 200 metres. This is a unique bulk tonnage near-surface gold system characterized by remarkably continuous gold mineralization within an episyenite host rock. A higher-grade core of gold mineralization is beginning to develop based on the limited drilling we have completed so far. Drilling is ongoing and we look forward to additional drill results as we begin to unravel this new gold discovery.”

The Fazenda do Posto discovery, situated about 150 meters west of the Lavras Gold Butiá Gold Deposit, shows promising proximity to the Butiá deposit, which itself holds an NI 43-101 gold resource of approximately 500,000 ounces and is open for expansion.

Drill hole 23FP006, a focal point of this announcement, was aimed at exploring the northeastern extension of Fazenda do Posto. It was positioned roughly 210 meters northeast of the initial discovery hole, 23FP002, and yielded continuous gold mineralization starting at a depth of 31 meters for a span of 230 meters. Detailed assay results have been tabulated and disclosed for this hole.

This discovery signifies a potential critical mass of gold mineralization in the area, further advancing Lavras Gold’s goal of developing a bulk tonnage open pit gold mine. Despite challenges such as record rainfalls impacting drilling site access and causing delays, the company has expedited efforts to define the new discovery’s geometry and grade distribution. To date, two drill rigs have completed over 3,000 meters of drilling across 14 holes at Fazenda do Posto.


The drilling results from Fazenda do Posto, located along the western edge of the Lavras do Sul intrusive complex and near the town of Lavras do Sul, are highly encouraging. Four drill holes totaling 1,520 meters have been completed, each yielding varied results. These include 23FP001 encountering modest gold values, 23FP002 confirming gold mineralization to a vertical depth of approximately 390 meters, and 23FP003 and 23FP004 showing significant mineralization and hydrothermal alteration respectively.

Looking ahead, Lavras Gold aims to further explore and define the Fazenda do Posto discovery and the Butiá Gold Deposit. The medium-term goal is to prepare a preliminary economic study for a potential gold mining project, supported by ongoing regional exploration within the broader 22,000-hectare LDS Project.

The overall success of the LDS exploration program has been noteworthy since Lavras Gold went public in April 2022. This includes completing a regional drone magnetic survey, ongoing soil geochemistry programs, and the reinterpretation of the Caneleira Gold Discovery. New gold mineral systems have been identified at various locations within the property, indicating a significant upside for continued exploration and development.

Highlights from the results are as follows:

  • Hole 23FP006 includes 65 metres at 1.9 g/t gold and including 10 metres at 3.0 g/t gold
  • Hole 23FP006, a scissor hole that cuts across discovery hole 23FP002, confirms the lateral continuity of gold mineralization for about 180 metres in a northeast direction and starting at a drill hole depth of 31 metres.
  • The vertical extent of gold mineralization at the Fazenda do Posto discovery has been traced for 330 metres.
  • Vertical Hole 23FP003 drilled 58 metres grading 1.0 g/t gold starting at a drillhole depth of 80 metres within a larger gold mineralized interval of 214 metres.
  • Three drill holes – FP002, FP003 and FP006 have returned significant gold assay results displaying continuous gold mineralization over very long intervals. The gold mineralization typically occurs within a brick-red coloured episyenite. The gold is usually associated with fine grained disseminated pyrite and/or arsenian pyrite and usually occurs with iron-rich dark green to black chlorite. Grey-white carbonate vesicles are typically associated with the gold mineralized zone. Photos showing examples of mineralized episyenite are shown in Figure 4, Figure 5 and Figure 6.
  • Gold mineralization has been traced over a northeast-southwest extent of about 180 metres, and a vertical distance of 330 metres. Gold mineralization starts at a vertical depth of about 26 metres in the northeast area, as defined by drill hole 23FP006, and approximately 100 metres depth as defined by drill hole 23FP002.
  • A higher-grade core of mineralization appears to be developing in the centre of the deposit, flanked by lower to moderate gold grades along the margins.

TABLE 1. Summary table of metre-by-metre drilling assay results from drill hole 23FP006 on Fazenda do Posto target.

Hole Azimuth
(degrees)
Dip
(degrees)
End of hole
(metres)
From
(metres)
To
(metres)
Gold interval
(metres)
Gold grade
(g/t)
Lithology
23FP006 200 -60 299.83 31.1 32.0 0.9 0.31 Episyenite
        33.0 35.0 2.0 0.14 Episyenite
        35.0 37.0 2.0 0.11 Episyenite
        37.0 39.0 2.0 0.35 Episyenite
        39.0 41.0 2.0 0.02 Episyenite
        41.0 43.0 2.0 0.01 Episyenite
        43.0 45.0 2.0 0.01 Episyenite
        45.0 47.0 2.0 0.02 Episyenite
        47.0 48.0 1.0 0.32 Episyenite
        48.0 49.0 1.0 0.55 Episyenite
        49.0 50.4 1.4 0.01 Episyenite
        50.4 51.7 1.3 0.01 Episyenite
        51.7 53.0 1.3 0.01 Episyenite
        53.0 54.0 1.0 0.01 Episyenite
        54.0 55.0 1.0 0.34 Episyenite
        55.0 56.0 1.0 0.74 Episyenite
        56.0 57.0 1.0 0.41 Episyenite
        57.0 58.0 1.0 0.50 Episyenite
        58.0 59.0 1.0 0.62 Episyenite
        59.0 60.0 1.0 0.65 Episyenite
        60.0 61.0 1.0 0.50 Episyenite
        61.0 62.0 1.0 0.35 Episyenite
        62.0 63.0 1.0 0.30 Episyenite
        63.0 64.0 1.0 0.43 Episyenite
        64.0 65.0 1.0 0.24 Episyenite
        65.0 66.0 1.0 0.57 Episyenite
        66.0 67.0 1.0 0.42 Episyenite
        67.0 68.0 1.0 0.16 Episyenite
        68.0 69.0 1.0 0.47 Episyenite
        69.0 70.0 1.0 0.41 Episyenite
        70.0 71.0 1.0 0.26 Episyenite
        71.0 72.0 1.0 0.40 Episyenite
        72.0 73.0 1.0 0.45 Episyenite
        73.0 74.0 1.0 0.27 Episyenite
        74.0 75.0 1.0 0.52 Episyenite
        75.0 76.0 1.0 0.44 Episyenite
        76.0 77.0 1.0 0.92 Episyenite
        77.0 78.0 1.0 0.70 Perthitic granite
        78.0 79.0 1.0 0.42 Episyenite
        79.0 80.0 1.0 0.34 Episyenite
        80.0 81.0 1.0 0.50 Episyenite
        81.0 82.0 1.0 0.68 Episyenite
        82.0 83.0 1.0 1.04 Episyenite
        83.0 84.0 1.0 0.59 Episyenite
        84.0 85.0 1.0 0.87 Episyenite
        85.0 86.0 1.0 0.92 Episyenite
        86.0 87.0 1.0 1.62 Episyenite
        87.0 88.0 1.0 1.21 Episyenite
        88.0 89.0 1.0 0.71 Episyenite
        89.0 90.0 1.0 0.45 Episyenite
        90.0 91.0 1.0 0.89 Episyenite
        91.0 92.0 1.0 0.59 Episyenite
        92.0 93.0 1.0 1.37 Episyenite
        93.0 94.0 1.0 1.81 Episyenite
        94.0 95.0 1.0 1.33 Episyenite
        95.0 96.0 1.0 0.50 Episyenite
        96.0 97.0 1.0 1.72 Episyenite
        97.0 98.0 1.0 0.95 Episyenie
        98.0 99.0 1.0 1.12 Episyenite
        99.0 100.0 1.0 1.09 Episyenite
        100.0 101.0 1.0 0.94 Episyenite
        101.0 102.0 1.0 0.67 Episyenite
        102.0 103.0 1.0 0.92 Episyenite
        103.0 104.0 1.0 0.73 Episyenite
        104.0 105.0 1.0 0.83 Episyenite
        105.0 106.0 1.0 1.13 Episyenite
        106.0 107.0 1.0 0.82 Episyenite
        107.0 108.0 1.0 0.54 Episyenite
        108.0 109.0 1.0 0.49 Episyenite
        109.0 110.0 1.0 1.06 Episyenite
        110.0 111.0 1.0 0.73 Episyenite
        111.0 112.0 1.0 1.01 Episyenite
        112.0 113.0 1.0 0.91 Episyenite
        113.0 114.0 1.0 0.36 Episyenite
        114.0 115.0 1.0 0.29 Episyenite
        115.0 116.0 1.0 0.11 Episyenite
        116.0 117.0 1.0 0.17 Episyenite
        117.0 118.0 1.0 0.42 Episyenite
        118.0 119.0 1.0 0.70 Episyenite
        119.0 120.0 1.0 0.53 Episyenite
        120.0 121.0 1.0 1.41 Episyenite
        121.0 122.0 1.0 0.66 Episyenite
        122.0 123.0 1.0 0.50 Episyenite
        123.0 124.0 1.0 0.59 Episyenite
        124.0 125.0 1.0 1.38 Episyenite
        125.0 126.0 1.0 0.02 Episyenite
        126.0 127.0 1.0 0.89 Episyenite
        127.0 128.0 1.0 0.64 Episyenite
        128.0 129.0 1.0 0.71 Episyenite
        129.0 130.0 1.0 0.44 Episyenite
        130.0 131.0 1.0 0.53 Episyenite
        131.0 132.0 1.0 0.41 Episyenite
        132.0 133.0 1.0 0.16 Perthitic Granite
        133.0 134.0 1.0 0.01 Perthitic Granite
        134.0 135.0 1.0 0.14 Perthitic Granite
        135.0 136.0 1.0 0.90 Episyenite
        136.0 137.0 1.0 1.09 Episyenite
        137.0 138.0 1.0 1.03 Episyenite
        138.0 139.0 1.0 0.29 Episyenite
        139.0 140.0 1.0 0.51 Episyenite
        140.0 141.0 1.0 0.57 Episyenite
        141.0 142.0 1.0 0.52 Episyenite
        142.0 143.0 1.0 0.81 Episyenite
        143.0 144.0 1.0 0.47 Episyenite
        144.0 145.0 1.0 2.43 Episyenite
        145.0 146.0 1.0 0.16 Episyenite
        146.0 147.0 1.0 0.12 Episyenite
        147.0 148.0 1.0 0.10 Episyenite
        148.0 149.0 1.0 0.12 Episyenite
        149.0 150.0 1.0 2.04 Episyenite
        150.0 151.0 1.0 2.91 Episyenite
        151.0 152.0 1.0 2.22 Episyenite
        152.0 153.0 1.0 2.11 Episyenite
        153.0 154.0 1.0 0.83 Episyenite
        154.0 155.0 1.0 2.92 Episyenite
        155.0 156.0 1.0 2.04 Episyenite
        156.0 157.0 1.0 3.19 Episyenite
        157.0 158.0 1.0 3.94 Episyenite
        158.0 159.0 1.0 2.02 Episyenite
        159.0 160.0 1.0 0.67 Episyenite
        160.0 161.0 1.0 8.05 Episyenite
        161.0 162.0 1.0 1.90 Episyenite
        162.0 163.0 1.0 1.75 Episyenite
        163.0 164.0 1.0 3.13 Episyenite
        164.0 165.0 1.0 0.98 Episyenite
        165.0 166.0 1.0 1.28 Episyenite
        166.0 167.0 1.0 2.47 Episyenite
        167.0 168.0 1.0 2.66 Episyenite
        168.0 169.0 1.0 1.47 Episyenite
        169.0 170.0 1.0 2.13 Episyenite
        170.0 171.0 1.0 1.85 Episyenite
        171.0 172.0 1.0 1.33 Episyenite
        172.0 173.0 1.0 0.82 Episyenite
        173.0 174.0 1.0 1.13 Episyenite
        174.0 175.0 1.0 1.99 Episyenite
        175.0 176.0 1.0 0.79 Episyenite
        176.0 177.0 1.0 1.69 Episyenite
        177.0 178.0 1.0 1.97 Episyenite
        178.0 179.0 1.0 1.47 Episyenite
        179.0 180.0 1.0 1.29 Episyenite
        180.0 181.0 1.0 2.30 Episyenite
        181.0 182.0 1.0 1.04 Episyenite
        182.0 183.0 1.0 0.68 Episyenite
        183.0 184.0 1.0 2.08 Episyenite
        184.0 185.0 1.0 2.94 Episyenite
        185.0 186.0 1.0 0.73 Episyenite
        186.0 187.0 1.0 2.47 Episyenite
        187.0 188.0 1.0 0.96 Episyenite
        188.0 189.0 1.0 0.64 Episyenite
        189.0 190.0 1.0 1.44 Episyenite
        190.0 191.0 1.0 3.01 Episyenite
        191.0 192.0 1.0 2.26 Episyenite
        192.0 193.0 1.0 1.56 Episyenite
        193.0 194.0 1.0 1.33 Episyenite
        194.0 195.0 1.0 2.10 Episyenite
        195.0 196.0 1.0 1.39 Episyenite
        196.0 197.0 1.0 2.17 Episyenite
        197.0 198.0 1.0 1.74 Episyenite
        198.0 199.0 1.0 1.72 Episyenite
        199.0 200.0 1.0 1.65 Episyenite
        200.0 201.0 1.0 1.77 Episyenite
        201.0 202.0 1.0 2.51 Episyenite
        202.0 203.0 1.0 1.86 Episyenite
        203.0 204.0 1.0 1.54 Episyenite
        204.0 205.0 1.0 4.07 Episyenite
        205.0 206.0 1.0 1.22 Episyenite
        206.0 207.0 1.0 1.25 Episyenite
        207.0 208.0 1.0 1.20 Episyenite
        208.0 209.0 1.0 1.44 Episyenite
        209.0 210.0 1.0 1.34 Episyenite
        210.0 211.0 1.0 0.23 Perthitic Granite
        211.0 212.0 1.0 0.72 Perthitic Granite
        212.0 213.0 1.0 2.18 Perthitic Granite
        213.0 214.0 1.0 2.59 Perthitic Granite
        214.0 215.0 1.0 0.32 Perthitic Granite
        215.0 216.0 1.0 0.14 Perthitic Granite
        216.0 217.0 1.0 0.14 Perthitic Granite
        217.0 218.0 1.0 0.69 Perthitic Granite
        218.0 219.0 1.0 0.04 Perthitic Granite
        219.0 220.0 1.0 0.08 Perthitic Granite
        220.0 221.0 1.0 0.36 Perthitic Granite
        221.0 222.0 1.0 0.18 Perthitic Granite
        222.0 223.0 1.0 0.10 Perthitic Granite
        223.0 224.0 1.0 0.01 Perthitic Granite
        224.0 225.0 1.0 0.09 Perthitic Granite
        225.0 226.0 1.0 0.16 Perthitic Granite
        226.0 227.0 1.0 0.02 Perthitic Granite
        227.0 228.0 1.0 0.02 Perthitic Granite
        228.0 229.0 1.0 0.13 Perthitic Granite
        229.0 230.0 1.0 0.12 Perthitic Granite
        230.0 231.0 1.0 0.11 Perthitic Granite
        231.0 232.0 1.0 1.31 Perthitic Granite
        232.0 233.0 1.0 0.05 Perthitic Granite
        233.0 234.0 1.0 0.20 Perthitic Granite
        234.0 235.0 1.0 0.33 Perthitic Granite
        235.0 236.0 1.0 0.01 Perthitic Granite
        236.0 237.0 1.0 0.01 Perthitic Granite
        237.0 239.0 2.0 0.01 Perthitic Granite
        239.0 241.0 2.0 0.01 Perthitic Granite
        241.0 243.0 2.0 0.04 Perthitic Granite
        243.0 245.0 2.0 0.02 Perthitic Granite
        245.0 247.0 2.0 0.02 Perthitic Granite
        247.0 249.0 2.0 0.06 Perthitic Granite
        249.0 250.0 1.0 0.03 Perthitic Granite
        250.0 251.0 1.0 0.08 Perthitic Granite
        251.0 252.0 1.0 0.20 Perthitic Granite
        252.0 253.0 1.0 0.03 Perthitic Granite
        253.0 254.0 1.0 0.02 Perthitic Granite
        254.0 255.0 1.0 0.07 Perthitic Granite
        255.0 256.0 1.0 0.10 Perthitic Granite
        256.0 257.0 1.0 1.84 Perthitic Granite
        257.0 258.0 1.0 0.26 Perthitic Granite
        258.0 259.0 1.0 0.25 Perthitic Granite
        259.0 260.0 1.0 0.61 Perthitic Granite
        260.0 261.0 1.0 0.16 Perthitic Granite
        261.0 262.0 1.0 0.08 Perthitic Granite
        262.0 263.0 1.0 0.01 Perthitic Granite
        263.0 264.0 1.0 0.01 Perthitic Granite
        264.0 265.0 1.0 0.01 Perthitic Granite
        265.0 267.0 2.0 0.02 Perthitic Granite
        267.0 269.0 2.0 0.01 Perthitic Granite
        269.0 271.0 2.0 0.02 Perthitic Granite
        271.0 273.0 2.0 0.01 Perthitic Granite
        273.0 275.0 2.0 0.01 Perthitic Granite
        275.0 277.0 2.0 0.01 Perthitic Granite
        277.0 279.0 2.0 0.01 Perthitic Granite
        279.0 281.0 2.0 0.01 Perthitic Granite
        281.0 283.0 2.0 0.01 Perthitic Granite
        283.0 285.0 2.0 0.01 Perthitic Granite
        285.0 287.0 2.0 0.01 Perthitic Granite
        287.0 289.0 2.0 0.01 Perthitic Granite
        289.0 291.0 2.0 0.01 Perthitic Granite
        291.0 293.0 2.0 0.01 Perthitic Granite
        293.0 295.0 2.0 0.01 Perthitic Granite
        295.0 297.0 2.0 0.01 Perthitic Granite
        297.0 299.8 2.8 0.01 Perthitic Granite

Notes

  • 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 that are 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. Summary of Drill hole Assay Results for Fazenda do Posto target.

 
Hole Azimuth

(degrees)
Dip

(dip)
End of hole

(metres)
From

(metres)
To

(metres)
Interval

(metres)
Gold grade

(grams/tonne)
Comment
23FP001 20 -60 214.05 77.00 153.00 76.00 0.17 Drilled peripheral to main target
        85.00 86.00 1.00 0.32 Along southeast edge of FP
        90.00 93.00 3.00 0.33  
        96.00 97.00 1.00 0.57  
        102.00 104.00 2.00 0.34  
        109.00 110.00 1.00 0.42  
        113.00 118.00 5.00 0.23  
        135.00 137.00 2.00 0.47  
        143.00 144.00 1.00 0.26  
23FP002 20 -60 464.59 58.00 59.00 1.00 0.18 Discovery hole
        117.00 457.00 340.00 1.09 Mineralized episyenite
      Including 199.00 359.00 160.00 1.79  
      Including 208.00 235.00 27.00 2.07  
      Including 293.00 361.00 68.00 2.09  
                 
23FP003 0 -90 332.17 24.00 27.00 3.00 0.71  
        87.00 294.00 207.00 0.49  
      including 87.00 227.00 140.00 0.67  
      Including 87.00 195.00 108.00 0.80  
      Including 87.00 151.00 64.00 0.91 Mineralized episyenite
      Including 87.00 145.00 58.00 0.97  
      Including 106.00 145.00 39.00 1.17  
                 
Hole Azimuth

(degrees)
Dip

(degrees)
End of hole

(metres)
From

(metres)
To

(metres)
Interval

(metres)
Gold grade

(grams/tonne)
Comment
23FP004 200 -60   No Significant Value       Drilled southwest away from target
                 
23FP006 200 -60   31.06 261.00 229.94 0.86 Drilled southwest into target
      including 31.06 235.00 203.94 0.95 Mineralized episyenite
      including 31.06 222.00 190.94 1.00  
      including 149.00 214.00 65.00 1.94  
      including 149.00 187.00 38.00 2.03  
      including 154.00 164.00 10.00 2.96  
      including 190.00 205.00 15.00 2.05  

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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