Lavras Gold Corp (TSX-V:LGC) has announced the latest results from its Lavras do Sul (LDS) gold project in Brazil, which the company says confirms that LDS is a mineral system that hosts extremely high-grade gold, silver, and copper in certain areas.
The gold project developer noted seven holes totalling 3,123 metres (m) were drilled at the Matilde Extension, located 675m northeast of the Matilde discovery, with assay results that included 10m grading 13.21 grams per tonne (g/t) gold, 22.94 g/t silver, and 0.22% copper from drill hole 21MT020.
“The results from hole 21MT020 are very exciting, and not just because of the extremely high gold grades,” Lavras Gold CEO Michael Durose said in a statement.
READ: Lavras Gold Corp discovers two new gold deposits at LDS in Brazil in 3Q
“We are also seeing chalcopyrite and bornite, which are two important copper sulphide minerals that are typically associated with higher temperature fluids and high-grade gold and silver,” Durose added.
Lavras Gold’s CEO also stated that the results may be directing the company to a possibly higher grade core of mineralization in the Matilde Extension area.
As well, the company said multiple intercepts of elevated gold mineralization were encountered in all seven holes drilled at the Matilde Extension to date.
Lavras Gold noted about 6,000m of the 16,000m program have been completed so far, with the drills currently testing targets at the Matilde and Galvo areas, and with immediate plans to also test targets at the Zeca Souza and Matilde Extension.
Interested investors are invited to join Lavras Gold CEO Michael Durose for an exploration webinar on January 31, 2023, at 1 PM EST, by clicking on this link to register.
Lavras Gold is focused on realizing the potential of the 22,000-hectare LDS in Brazil, which is believed to host an alkaline porphyry gold-copper system. More than 23 gold prospects centered on historic gold workings have been identified.
Contact Sean at sean@proactiveinvestors.com