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Lavras Gold drills 340 metres grading 1.09 g/t gold at Fazenda do Posto discovery
Hole 23FP002 includes 160 metres at 1.79 g/t gold including 68 metres at 2.09 g/t gold Long, continuous bulk tonnage style of gold mineralization in intrusive-h
About this update from Lavras Gold Corp
[{"type":"text","content":" Hole 23FP002 includes 160 metres at 1.79 g/t gold including 68 metres at 2.09 g/t gold Long, continuous bulk tonnage style of gold mineralization in intrusive-hosted gold system Hole drilled at new Fazenda do Posto target, located 150 metres west of Butiá Gold Deposit Blind gold discovery with no surface expression of mineralization opens up new exploration potential Two drill rigs now in area following up TORONTO, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Good, old-fashioned boots on the ground field exploration has yielded a potentially game-changing discovery for Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF). Drilling at the new Fazenda do Posto discovery on the Company’s LDS Project in southern Brazil has returned assay results with remarkably continuous mineralization of 340 metres grading 1.09 g/t gold from 117 metres including: 160 metres grading 1.79 g/t gold from 199 metres including 27 metres grading 2.07 g/t gold from 208 metres 68 metres grading 2.09 g/t gold from 293 metres. Drill hole 23FP002 was collared roughly 150 metres west of the Butiá Gold Deposit, which has an NI 43-101 gold resource (see details below) of approximately 500,000 ounces. The hole tested a blind target with no obvious signs of surface mineralization in an area of recessive topography across an interpreted northeast trending fault. The hole was drilled north on a 020 degree azimuth and a dip of 060 degrees. “This new discovery on our Fazenda do Posto claim block is a potential game changer for Lavras Gold,” said Michael Durose, Lavras Gold’s President and CEO. “It is remarkable that we have discovered a long, continuous bulk-tonnage disseminated style of gold mineralization in this intrusive-hosted gold system only 150 metres from the western edge of the Butiá Gold Deposit. “This is a blind gold discovery associated with an interpreted down-dropped block of rock across a northeast trending fault. The discovery was made by good old-fashioned field geology with boots on the ground. “Congratulations to our entire team in Brazil for this excellent outcome. We have two drill rigs in this target area and will vigorously follow up with the goal of fast-tracking the process of defining the geometry and grade distribution of this important new discovery.” Learn more about these exploration results during a webinar August 30 Join CEO Michael Durose for an explora...