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Lavras Gold’s fourth new gold discovery features 4.63 g/t gold over 10 metres including 11.70 g/t gold over 3 metres
TORONTO, May 09, 2023 (GLOBE NEWSWIRE) -- Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF) has made yet another new gold discovery at its LDS Project in southern Bra
About this update from Lavras Gold Corp
[{"type":"text","content":" TORONTO, May 09, 2023 (GLOBE NEWSWIRE) -- Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF) has made yet another new gold discovery at its LDS Project in southern Brazil. The gold mineralization discovered at the Galvao target is significant because it has long intervals with bonanza grade subintervals in some cases. This is the first time that Galvao has been drill-tested, and the results show that this important new gold system has an intermittent north-south strike extent of at least 450 metres. The mineralization, which has been found to a vertical depth of 461 metres, is hosted by perthitic granite in zones of hydrothermal breccia. The Galvao discovery is the fourth new discovery made by the Company since launching a little over a year ago. There are now seven advanced mineral deposits/exploration discoveries at LDS (see Figure 1): Butiá, Caneleira, Cerrito/Vila Marieta, Galvao, Matilde, Matilde Extension, and Zeca Souza. All of these remain open at depth and along strike. Some, like Cerrito/Vila Marieta, may even be connected. “The mineralization discovered at Galvao appears to be the southern extension of the Zeca Souza discovery,” said Michael Durose, President and Chief Executive Officer. “Importantly, mineralization has been found at a vertical depth as deep as 461 metres, which shows that the depth potential of the gold system at LDS is quite significant. Galvao remains open along strike and at depth.” One of 23 known gold targets at LDS, Galvao is located immediately south of the Zeca Souza target. Assay results from Zeca Souza featured visible gold, bonanza gold grades near surface like 28.2 g/t over 3 metres, and long intervals like 36.40 metres at 0.47 g/t gold. Similarly, the Galvao assay results are typical of the style of mineralization found at LDS. The results are characterized by large intervals of moderate gold grade accentuated by higher grade intervals. The highlight of the drilling was a long, higher-grade interval from 22BT002 that had returned sub-intervals of bonanza grade gold (see Table 1): 10 metres at 4.63 g/t gold from 532.00 metres (vertical depth of 461.00 metres), including 3.00 metres at 11.70 g/t gold from 532.00 metres including 1.00 metre at 22.40 g/t gold from 534.00 metres. Discussion of results Galvao is a new gold discovery based on a target generated by following up on old surface workings...