Business
Lavras Gold will stay focused on discovery in 2023
The news release should be read in conjunction with our audited consolidated financial statements and management’s discussion and analysis for the year ended De
About this update from Lavras Gold Corp
[{"type":"text","content":" The news release should be read in conjunction with our audited consolidated financial statements and management’s discussion and analysis for the year ended December 31, 2022. Both are available under our profile at www.sedar.com. All monetary amounts are in Canadian dollars unless stated otherwise. TORONTO, March 03, 2023 (GLOBE NEWSWIRE) -- Lavras Gold Corp. (TSXV: LGC) set out its short- and long-term goals as it reported results for the year ended December 31, 2022 today. The Company’s singular vision is realizing the economic potential of the LDS Project, Lavras Gold’s advanced gold exploration property in southern Brazil. “We achieved all of our 2022 goals,” said Michael Durose, Lavras Gold’s President and Chief Executive Officer. “We completed our share consolidation, doubled our consolidated gold resources, and made three new gold discoveries. In 2023, we will carry on with our exploration program, and are very excited to continue to learn more about the complex system at LDS.” As we move into our second year since launching in April 2022, our short-term goals are to: complete our 16,000-metre drilling program at LDS by drill-testing priority targets aimed at making new gold discoveries and expanding our existing gold endowment foster relationships with our local stakeholders as we begin the permitting process sustain our relationships with existing shareholders and attract new shareholders by marketing Lavras Gold to the investing community. Two rigs have completed 7,000 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. And, we made three new gold discoveries at the Matilde, Matilde Extension, and Zeca Souza targets, and reinterpreted historical results from a fourth target, Caneleira. The Matilde gold discovery lies along a portion of a coincident 3 kilometre gold-in-soil anomaly centred on an east-west trending magnetic-low anomaly that is interpreted to be a major gold-hosting structure. Gold mineralization at Matilde begins at surface, has been traced over a strike length of at least 250 metres, and extends to a minimum vertical depth of 483 metres. It remains open for expansion along strike and a...