Lavras Gold Corp (TSX-V:LGC) said assay results from drilling at the Vila Marieta claim block at its Lavras do Sul (LDS) project in Brazil have identified the southwest surface extension of its Cerrito gold deposit.
Vila Marieta and Cerrito are two of the 23 known gold targets at the LDS project, the company noted.
The assay results from Vila Marieta feature significant gold grades that start at surface and long intervals.
With the average gold grade from the surface mineralization 85% higher than the average grade of Cerrito at 1.30 grams per ton (g/t) of gold, Lavras said the results showed the opportunity to enhance the future mine plan.
Highlights include hole 22VM001 which returned surface mineralization of 28 metres (m) at 1.30 grams per ton gold from 0 m including 4 m at 2.42 g/t gold from 7 m and 5 m at 2.49 g/t gold at 16 m, and long interval of 53 m at 0.68 g/t gold from 139 m, including 7.72 m grading 1.04 g/t gold from 148 m.
“This is a significant discovery of new gold mineralization at LDS,” said Lavras CEO Michael Durose in a statement.
“We have always believed that we could improve the overall quality of Cerrito, and these results potentially show that.”
Lavras noted that exploration continues at the LDS project, including the reinterpretation of historical information, a regional soil sampling program, and a 16,000-m drilling program with two drills on site probing priority targets.
Lavras Gold is a Canadian exploration company focused on realizing the potential of a multi-million-ounce gold district in southern Brazil.
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