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Lavras Gold expands on wealth of discoveries in first quarter
TORONTO, May 15, 2023 (GLOBE NEWSWIRE) -- It’s been gold discovery after gold discovery for Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF), said the Company as it
About this update from Lavras Gold Corp
[{"type":"text","content":" TORONTO, May 15, 2023 (GLOBE NEWSWIRE) -- It’s been gold discovery after gold discovery for Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF), said the Company as it reported on its first quarter today. “Each new gold discovery increases our understanding of the large mineralized system that we are uncovering at our LDS Project in Brazil,” said Michael Durose, Lavras Gold’s President and Chief Executive Officer. “Our latest assay results have shown the possibility for enhancing the economic potential of our Cerrito Gold Deposit and may have identified its southwest surface extension. We also may have found the southern extension of Zeca Souza. We’re very excited to continue drilling and learning more about this complex system.” Two rigs have completed 10,712 metres of our 16,000-metre drill program at LDS, with results consistently demonstrating that LDS is a unique, large, and complex mineral system. Returned assays are a mix of bulk tonnage and high grade, a combination that yields scale and economics in producing assets. The Company’s new gold discoveries in 2022 were at the Matilde and Zeca Souza targets, and historical results from another target, Caneleira, were also reinterpreted. During the first quarter, Lavras Gold built on this wealth of discoveries with yet another discovery, the Matilde Extension gold discovery. This is a new blind discovery that was made by drill-testing a coincident gold in soil anomaly overlying the intersection of a northeast-southwest trending structure and an east-west trending structure. Multiple intervals of mineralization were intersected in all holes drilled at Matilde Extension, and high-grade gold, silver, and copper mineralization was encountered in three holes. The best hole, 21MT020, intercepted three intervals of mineralization. The third intercept was the most important, as it was characterized by a thick interval of continuous mineralization featuring very high-grade gold, silver, and copper. It assayed 10.00 metres grading 13.21 g/t gold, 22.94 g/t silver, and 0.22% copper from 345.00 metres, including: 5.00 metres grading 23.15 g/t gold, 42.75 g/t silver, and 0.41% copper from 347.00 metres a 1.00 metre sub-zone that yielded grades as high as 63.70 g/t, more than 100 g/t silver, and 0.63% copper from 347.00 metres. After quarter end, the Company announced two more gold discoveries at ...