Lavras Gold Corp. Intersects 1.0 g/t Gold over 173 metres from 69 metres at Fazenda do Posto Gold Discovery, LDS Project, Southern Brazil
Drilling intersection includes 1.4 g/t gold over 95 metres
TORONTO, Ontario, Feb. 29, 2024 (GLOBE NEWSWIRE) -- *Lavras Gold Corp. (TSX-V:LGC, OTCQX:LGCFF)* (“*Lavras*” or the “*Compan*y”) is pleased to release the results from six (6) new drill holes testing the Fazenda do Posto gold discovery, located at the western edge of the LDS project in southern Brazil. Gold mineralization was intersected in five of the six holes at the Fazenda do Posto gold discovery. These new holes were designed to test the nature and extent of gold mineralization and hydrothermal alteration associated with this new gold discovery as explained below. These new results continue to move Lavras Gold toward its short-term corporate goal of defining an economically feasible gold resource on the LDS Project, focused on Fazenda do Posto and adjacent Butiá gold deposit.*HIGHLIGHTS*
Hole 23FP011:
· *173.0 metres grading 1.0 g/t gold* *from 69.0 metres* and including:
· 2.0 metres grading 2.1 g/t gold from 99.0 metres
· *94.8 metres grading 1.4 g/t gold* from 126.0 metres (about 109.0 metres vertical),
· including 2.0 metres *grading 3.6 g/t gold* from 126.0 metres, and
· 3.0 metres *grading 2.5g/t gold* from 135.0 metres, and
· 6.0 metres *grading 2.0 g/t gold* from 209.0 metres
Hole 23FP008:
· *123.0 metres grading 1.1 g/t gold from 228.0 metres* including:
· *78.0 metres grading 1.4 g/t gold* from 228.0 metres and
· *35.0 metres grading 2.5 g/t gold* from 231.0 metres and
· 4.0 metres *grading 2.7 g/t gold* from 331.0 metres and
· 3.0 metres *grading 3.5 g/t gold* from 332.0 metres and
· 1.0 metre *grading 8.8 g/t gold* from 334.0 metres
“These new drilling results are consistent with previous drill results and demonstrate the excellent near-surface gold grade and continuity of Fazenda do Posto. The large lateral and vertical extent of the hydrothermal alteration points to a sizable gold mineral system for which the full potential remains to be tested,” commented Lavras Gold President & CEO Michael Durose. “Results like these have the potential to materially enhance the economics of a combined Butiá-Fazenda do Posto near-surface bulk tonnage open-pit type of gold project. Fazenda do Posto is not only demonstrating very good continuity and gold grade at depth, but also laterally, where it remains open in several directions. Two drills are actively working in the area, drilling off the Fazenda do Posto area in a grid with vertical holes on 50 metre centres.” (Click here for comments on today’s news from CEO Michael Durose.)
[* Footnote: Butiá hosts an NI 43-101 compliant near-surface gold resource of about 500,000 ounces, as detailed in the NI 43-101 Technical Report Mineral Resource for Butiá Gold Prospect dated and effective January 25, 2022. The report was prepared by VMG Consultoria e Soluções Ltda. for Lavras Gold Corp. and is available on the Company’s website and www.sedar.com under Lavras Gold’s issuer profile.]
*Discussion of Drill Results – Fazenda do Posto *
Since announcing the Fazenda do Posto gold discovery in late August 2023, a total of 12 drill holes totalling 3,309 metres have been disclosed. This press release discloses results for six new holes – 23FP007 through 23FP012. Results for the first six of the 12 holes have been disclosed previously. All assay results are tabulated in *Table 1*, and drill-collar coordinates are summarized in *Table 2*. *Figure 1* shows a plan view of all drill holes at Fazenda do Posto, and *Figure 2* illustrates a cross section of all drill holes looking west.
So far, drilling has defined a large gold mineral system consisting of a near-surface bulk-tonnage disseminated style of mineral deposit hosted in a hydrothermally altered granitoid host rock and strategically located 150 metres west of the adjacent half million-ounce Butiá gold deposit. Fazenda do Posto and Butiá are both open to possible expansion in several directions.
Generally,* very long continuous intervals of gold mineralization containing higher-grade subintervals* were encountered. The host rocks are extensively hydrothermally altered, and gold is typically hosted in disseminated sulphide minerals (pyrite +- arsenian pyrite) within episyenite host rock or mineralized perthitic granite. Occasional visible gold has been observed associated with sulphide minerals (galena, pyrite). The mineralization is bulk tonnage in its nature and has been detected to depths of more than 400 metres, and a lateral extent of at least 200 metres northeast-southwest, and 200 metres northwest-southeast.
· *Drill hole 23FP011* was collared in the northeastern portion of Fazenda do Posto (see *Figure 1*). The hole was drilled at an inclined angle of 60 degrees on an azimuth of 200 degrees. The purpose was to test the lateral continuity of mineralization and gold grade continuity at depth towards the southwest. A long continuous interval of bulk-tonnage disseminated gold mineralization was encountered starting at 69.0 metres (60.0 metres vertical depth) to 242.0 metres down the drill core (vertical depth of 210 metres) within mineralized episyenite as detailed below. Generally, this long interval of continuous mineralization has multiple higher-grade intervals. Highlights are as follows:173.0 metres grading 1.0 g/t gold from 69.0 metres including:
· 4.0 metres grading 1.2 g/t gold from 75.0 metres
· 6.0 metres grading 1.1 g/t gold from 97.0 metres
· 2.0 metres grading 2.1 g/t gold from 99.0 metres
· *94.8 metres grading 1.4 g/t gold from 126.0 metres*
· 2.0 metres *grading 3.6 g/t gold* from 126.0 metres
· 3.0 metres *grading 2.5 g/t gold* from 135.0 metres, and
· *8.0 metres grading 1.6 g/t gold* from 153.0 metres
· *14.9 metres grading 1.7 g/t gold* from 166.1 metres
· *13.0 metres grading 1.5 g/t gold* from 191.0 metres
· 6.0 metres *grading 2.0 g/t gold* from 209.0 metres, and
· 2.0 metres *grading 2.0 g/t gold* from 239.1 metres*Drillhole 22FP008* was collared in the northeast portion of Fazenda do Posto and drilled on an azimuth of 200 degrees at an inclined angle of 80 degrees (see *Figure 1*). The purpose was to better understand the nature and continuity of gold mineralization at depth. Continuous gold mineralization was encountered over long intervals in episyenite and mineralized perthitic granite. Higher-grade intervals have been found at depth. A summary of assay composites is as follows:
· 123.0 metres grading 1.1 g/t gold from 228.0 metres including:
· *78.0 metres grading 1.4 g/t gold from 228.0 metres*
· *35.0 metres grading 2.5 g/t gold from 231.0 metres*
· 20.0 metres grading 0.6 g/t gold from 325.0 metres
· 4.0 metres *grading 2.7 g/t gold* from 331.0 metres
· *3.0 metres grading 3.5 g/t gold from 332.0 metres*
*Drillhole 23FP010* was positioned in the central portion of Fazenda do Posto, above the trace of drillhole 23FP002 (see *Figure 1* & *Figure 2*). The hole was drilled on an azimuth of 110 degrees and inclined at 60 degrees. The purpose was to better understand the nature of the geology and the extent of alteration and possible mineralization along a southeast direction perpendicular to the azimuth of drill hole 23FP002*. Figure 3* shows an example of near-surface mineralized episyenite from 23FP010. A continuous zone of intense albite alteration interspersed with zones of bulk-tonnage and disseminated style of gold mineralization consisting mainly of disseminated pyrite +- arsenian pyrite within episyenite and perthitic granite was encountered from 3.0 metres to 147.0 metres – a drillhole length of 144.0 metres. Further highlights are as follows:
· 144.0 metres grading 0.6 g/t gold from 3.0 metres including:
· *41.0 metres grading 1.0 g/t gold from 3.0 metres* and including
· *21.0 metres grading 1.3 g/t gold from 23.0 metres and*
· *9.0 metres grading 2.2 g/t gold from 31.0 metres and including*
· *4.0 metres grading 3.5 g/t gold from 31.0 metres *
· 2.0 metres grading 1.6 g/t gold from 78.0 metres
· 4.4 metres grading 1.2 g/t gold from 107.0 metres*Drillhole 23FP012* was collared along the northwest edge of the Fazenda do Posto mineralized footprint and drilled on an azimuth of 110 degrees and inclined 60 degrees (see *Figure 1*). The purpose was to test the central western extension of hydrothermal alteration and mineralization. The hole encountered very intense albite alteration with moderate intervals of gold starting at 4.0 metres depth. Significant long intervals of higher gold grades were found at 58.0 metres along the drill core after intersecting a lamprophyre dyke. Several long intervals of disseminated gold mineralization were encountered and including multiple higher-grade subintervals as follows:
· *115.0 metres grading 0.6 g/t gold from 58.0 metres* including:
· *53.0 metres grading 0.9 g/t gold* from 118.0 metres and
· *26.0 metres grading 1.1 g/t gold from 130.0 metres, and including*
· *15.0 metres grading 1.2 g/t gold from 130.0 metres, and*
· 6.0 metres grading 1.1 g/t gold from 162.0 metres*Exploration Program – Summary and Next Steps at Fazenda do Posto & Relationship to Butiá Gold Deposit*
The purpose of this phase of exploration drilling has been to define the geometry and distribution of alteration and gold mineralization at Fazenda do Posto. And, although still relatively early in the exploration program, the results of drilling are very encouraging highlighting the discovery of a large, disseminated, bulk-tonnage intrusive-hosted gold system. The lateral extent and intensity of the hydrothermal alteration footprint has now been traced over 200 metres in a northeast-southwest direction, 200 metres in a northwest-southeast direction and to vertical depths of more than 400 metres. *Gold mineralization is being defined over large continuous intervals for hundreds of metres.* At Fazenda do Posto, a higher-grade core of gold mineralization is developing at depth, surrounded by a lower grade halo of gold. The gold mineralization is typically associated with disseminated sulphides (pyrite, arsenian pyrite) typically hosted within the vuggy spaces of pervasively altered granitoids. The mineral system is open in several directions and requires significantly more drilling.
Importantly, *gold mineralization being defined at Fazenda do Posto is 150 metres west of the adjacent Butiá gold deposit* that hosts an existing 43-101 compliant measured, indicated, and inferred gold resource of 0.5 Moz that is open to expansion. It is possible that these two deposits may be developed together as one mining project in the future, and so it is important to understand the relationship between these deposits. *Figure 4 *illustrates a plan view showing the Butiá gold resource relative to the Fazenda do Posto gold discovery.* Figure 5* shows an oblique view facing northeast. The next step of the drilling program will systematically drill Fazenda do Posto on 50 metre drill centres with vertical holes. In this way, the size, geometry, and grade distribution of the discovery will be better understood. This drill strategy will also be applied selectively to the adjacent Butiá gold deposit. Further ideas will be tested as the drill program evolves.
Lavras Gold’s short-term corporate objective is to define an economic gold resource on the LDS Project with a focus on Fazenda do Posto and the adjacent Butiá gold deposit.
The current drilling program consists of two diamond drill rigs that are now on site and designed to test exploration targets continuously from now until the end of the first half of 2025. *Approximately 10,000 metres of drilling have been budgeted to test Fazenda do Posto and Butiá.* Further drilling of these targets may occur as results warrant. Drilling of other exploration targets is anticipated in the second half of 2024 with the objective of discovering new economic gold deposits on the LDS property.
*Table 1. Summary of Drill Hole Composites from Fazenda do Posto Gold Discovery *
*Drill Hole* * * *From* *To* *Interval* *Gold grade* *Comment*
* * * * *(metres)* *(metres)* *(metres)* *(grams/tonne)* * *
* * * * * * * * * * * * * *
*23FP001* 77.00 153.00 76.00 0.17 Drilled peripheral to main target
* * * * 85.00 86.00 1.00 0.32 Along southeast edge of FP
* * 90.00 93.00 3.00 0.33
* * 96.00 97.00 1.00 0.57
* * 102.00 104.00 2.00 0.34
* * 109.00 110.00 1.00 0.42
* * 113.00 118.00 5.00 0.23
* * 135.00 137.00 2.00 0.47
* * 143.00 144.00 1.00 0.26
* *
*23FP002* 58.00 59.00 1.00 0.18 Extensive albite alteration
* * 117.00 457.00 340.00 1.09 Mineralized episyenite
* * *Including* *199.00* *359.00* *160.00* *1.79* Brick red colouration (Ba, Fe)
* * *Including* *208.00* *235.00* *27.00* *2.07*
* * *Including* *293.00* *361.00* *68.00* *2.09*
* * * * * * * * * * * *
*23FP003* 24.00 27.00 3.00 0.71 Extensive albite alteration
* * 87.00 294.00 207.00 0.49 Mineralized episyenite
* * *including* *87.00* *227.00* *140.00* *0.67* Extensive albite alteration
* * *Including* *87.00* *195.00* *108.00* *0.80* Mineralized episyenite
* * *Including* *87.00* *151.00* *64.00* *0.91* Brick red colouration (Ba, Fe)
* * *Including* *106.00* *145.00* *39.00* *1.17*
* * * * * * * * * * * *
*23FP004* No Significant Values Fresh granodiorite, perthitic granite, drilled SW
* *
*23FP005* 118.00 119.00 1.00 0.26 Extensive albite alteration
* * 131.55 135.00 3.45 1.01 Mineralized perthitic granite
* * 139.00 140.00 1.00 0.99 Mineralized perthitic granite
* * 143.00 146.00 3.00 1.21 Mineralized perthitic granite
* * 159.00 161.00 2.00 0.26 Mineralized perthitic granite
* * 171.00 172.00 1.00 0.33 Mineralized perthitic granite
* * * * 176.00 177.00 1.00 0.30 Mineralized perthitic granite
* * * * 181.00 182.00 1.00 0.33 Mineralized perthitic granite
* * * *
*23BT006* 31.06 261.00 229.94 0.86 Drilled southwest into target
* * *including* *31.06* *235.00* *203.94* *0.95* Mineralized episyenite
* * *including* *31.06* *222.00* *190.94* *1.00* Mineralized episyenite
* * *including* *149.00* *214.00* *65.00* *1.94* Mineralized episyenite
* * *including* *149.00* *187.00* *38.00* *2.03* Mineralized episyenite
* * *including* *154.00* *164.00* *10.00* *2.96* Mineralized episyenite
* * *including* *190.00* *205.00* *15.00* *2.05* Mineralized episyenite
* * * * * * * * * * * *
*23FP007* No Significant Values Fresh granodiorite, perthitic granite, drilled NE
* *
*23FP008* 104.00 105.00 1.00 0.27 Mineralized episyenite
* * 114.00 115.00 1.00 0.42 Mineralized episyenite
* * 106.00 229.00 123.00 1.12 Mineralized episyenite
* * *including* *228.00* *306.00* *78.00* *1.36* Mineralized episyenite
* * *including* *231.00* *266.00* *35.00* *2.46* Mineralized episyenite
* * 325.00 345.00 20.00 0.60 Mineralized perthitic granite
* * *including* *331.00* *335.00* *4.00* *2.67* Mineralized perthitic granite
* * *including* *332.00* *335.00* *3.00* *3.49* Mineralized perthitic granite
* * * * * * * * * * * *
*23FP009* 1.00 3.00 2.00 0.49 Pervasive albite alteration
* * 15.00 16.00 1.00 0.40 Pervasive albite alteration
* * 23.01 37.00 13.99 0.79 Pervasive albite alteration
* * *Including* *29.00* *38.00* *9.00* *0.91* Pervasive albite alteration
* * 40.00 40.94 0.94 0.25 Pervasive albite alteration
* * 75.00 77.00 2.00 0.72 Pervasive albite alteration
* * 93.00 96.00 3.00 0.44 Pervasive albite alteration
* * 131.00 132.00 1.00 0.41 Pervasive albite alteration
* * 149.00 152.00 3.00 0.44 Pervasive albite alteration
* * 157.00 160.00 3.00 0.43 Pervasive albite alteration
* * 162.00 163.00 1.00 0.25 Pervasive albite alteration
* * 164.00 168.00 4.00 0.30 Pervasive albite alteration
* *
*23FP010* 3.00 147.00 144.00 0.58 Pervasive albite alteration, episyenite, Perthitic granite
* * *Including* *3.00* *44.00* *41.00* *1.00* Mineralized episyenite
* * *Including* *3.00* *4.00* *1.00* *1.06* Mineralized episyenite
* * *Including* *23.00* *44.00* *21.00* *1.29* Mineralized episyenite
* * *Including* *23.00* *26.00* *3.00* *1.07* Mineralized episyenite
* * *Including* *31.00* *40.00* *9.00* *2.17* Mineralized episyenite
* * *Including* *31.00* *35.00* *4.00* *3.46* Mineralized episyenite
* * *Including* *50.00* *51.00* *1.00* *1.14* Mineralized episyenite
* * *Including* *64.00* *65.00* *1.00* *1.28* Mineralized episyenite
* * *Including* *72.00* *79.00* *7.00* *0.89* Mineralized episyenite
* * *Including* *78.00* *80.00* *2.00* *1.55* Mineralized episyenite
* * *Including* *83.00* *90.00* *7.00* *1.02* Mineralized episyenite
* * *Including* *107.00* *111.41* *4.41* *1.21* Perthitic granite
* * *Including* *139.00* *142.00* *3.00* *0.97* Mineralized episyenite
* * * * * * * * * * * *
*23FP011* 32.00 33.00 1.00 0.29 Mineralized episyenite
* * 69.00 242.00 173.00 0.95 Mineralized episyenite
* * *Including* *75.00* *79.00* *4.00* *1.16* Mineralized episyenite
* * *Including* *97.00* *103.00* *6.00* *1.07* Mineralized episyenite
* * *Including* *99.00* *101.00* *2.00* *2.08* Mineralized episyenite
* * *Including* *126.00* *220.83* *94.83* *1.37* Mineralized episyenite
* * *Including* *126.00* *128.00* *2.00* *3.56* Mineralized episyenite
* * *Including* *135.00* *138.00* *3.00* *2.47* Mineralized episyenite
* * *Including* *153.00* *161.00* *8.00* *1.64* Mineralized episyenite
* * *Including* *166.10* *181.00* *14.90* *1.66* Mineralized episyenite
* * *Including* *191.00* *204.00* *13.00* *1.46* Mineralized episyenite
* * *Including* *209.00* *215.00* *6.00* *2.01* Mineralized episyenite
* * *Including* *239.13* *241.13* *2.00* *1.97* Mineralized episyenite
* * * * * * * * * * * *
*23FP012* 4.00 5.27 1.27 0.29 Mineralized episyenite
* * 12.00 14.00 2.00 0.32 episyenite
* * * * 58.00 60.00 2.00 0.27 episyenite
* * 63.00 64.00 1.00 3.19 Mineralized episyenite
* * 58.00 173.00 115.00 0.59 Mineralized episyenite, albite alteration
* * *Including* *83.00* *84.00* *1.00* *2.26* Mineralized episyenite
* * *Including* *87.77* *89.92* *2.15* *0.95* Mineralized episyenite
* * *Including* *102.16* *104.00* *1.84* *1.06* Mineralized episyenite
* * *Including* *107.00* *108.00* *1.00* *0.95* Mineralized episyenite
* * *Including* *110.00* *111.00* *1.00* *1.10* Mineralized episyenite
* * *Including* *118.00* *171.00* *53.00* *0.86* Mineralized episyenite, intermittent perthitic granite
* * *Including* *118.00* *119.00* *1.00* *1.09* Mineralized episyenite
* * *Including* *121.00* *169.00* *48.00* *0.91* Mineralized episyenite, intermittent perthitic granite
* * *Including* *130.00* *156.00* *26.00* *1.08* Mineralized episyenite, intermittent perthitic granite
* * *Including* *130.00* *145.00* *15.00* *1.24* Mineralized episyenite
* * *Including* *162.00* *168.00* *6.00* *1.09* Mineralized episyenite
· Assumes 0.25 g/t gold cut-off grade, no top cut.
· The Company has been targeting larger intersections of greater than 0.25 g/t gold. Intersections lower than this threshold may provide exploration insight and may therefore be disclosed.
· Intervals represent drill core interval; true widths have not been determined at this time.
*Table 2. Fazenda do Posto Drill Hole Coordinates*
*Drill * * * * * *Elevation* *Azimuth* *Dip* *Start Depth* *Final Depth*
*Hole* *Easting* *Northing* *(metres)* *(Degrees)* *(Degrees)* *(metres)* *(metres)*
23FP001 217907 6586453 378 20 -60 214.1
23FP002 217858 6586480 385 20 -60 464.6
23FP003 217892 6586568 379 -90 332.2
23FP004 217826 6586607 387 200 -60 201.3
23FP005 217935 6586309 397 20 -60 248.2
23FP006 217932 6586677 377 200 -60 308.3
23FP007 217928 6586677 377 20 -60 161.4
23FP008 217931 6586675 382 200 -80 401.4
23FP009 217910 6586591 383 290 -60 232.9
23FP010 217910 6586581 384 110 -60 288.0
23FP011 217926 6586674 380 220 -60 280.0
23FP012 217845 6586647 386 110 -60 177.0
*
*
*Figure 1. Plan View of 2023 Fazenda do Posto Drill Holes Showing Lithology & Gold Assay Results*
*Figure 2. Cross Section of 2023 Fazenda do Posto Drill Holes (Looking West) Showing Lithology and Assay Results*
*Figure 3. Example of Mineralized Episyenite Host Rock at Fazenda do Posto Gold Discovery. *Sulphide mineralization is extremely fine grained but detectable with a magnifying glass. The episyenite displays an aphanitic texture but is hydrothermally fractured. This sample from drillhole 23FP010 is from interval 25.0 m to 26.0 m and grades 4.6 g/t gold.
*Figure 4. Plan View of Fazenda do Posto Gold Discovery Relative to Butiá Gold Deposit*
*Figure 5. Oblique View Facing Northeast of Fazenda do Posto Gold Discovery Relative to Butiá Gold Deposit*
*About the LDS Project*
The LDS Project is centred on the town of Lavras do Sul in Rio Grande do Sul, Brazil. It is approximately 320 kilometres, or a 4.5-hour drive, from the state capital of Porto Alegre. The Company, through its subsidiary, holds directly or indirectly, contractual interests over 29 mineral rights covering 22,000 hectares.
The LDS intrusive complex is a multiphase intrusive centre that is surrounded by coeval volcanic rocks to the east. Geologically, LDS is in the far south of the Neoproterozoic Mantiqueira Province, a 2,700-kilometre-long belt of tectonically and magmatically accreted terrains that stretch as far south as the coastline of central Uruguay and north into southern Bahia State in Brazil. The most advanced targets are the Butiá and Cerrito gold deposits, which have consolidated NI 43-101 resources of approximately 1 million ounces.
*About Lavras Gold Corp.*
Lavras Gold Corp. (TSXV: LGC, OTCQX: LGCFF) is a Canadian exploration company focused on realizing the potential of a multi-million-ounce gold district in southern Brazil. Its Lavras do Sul Project is located in Rio Grande do Sul State and is primarily an intrusive hosted gold system of possible alkaline affinity. More than 24 gold prospects centred on historic gold workings have been identified on the property, which spans more than 22,000 hectares. Follow Lavras Gold on www.lavrasgold.com, as well as on LinkedIn, Twitter, and YouTube.
Michael Durose, President & CEO for Lavras Gold Corp., is the qualified person ("QP") as defined by Canadian National Instrument 43-101 and has reviewed and approved the technical information contained in this release.
*On Behalf of Lavras Gold Corp.*
*“**Michael Durose**”*
President & CEO
For further information, please visit the Lavras Gold Corp. website at www.lavrasgold.com, or contact:
Michael Durose, President & CEO or Naomi Nemeth, VP Investor Relations
Phone: +1-289-624-1343 or +1-289-624-1377
Email: investor@lavrasgold.com
Website: www.lavrasgold.com
X (Twitter): @LavrasGold
LinkedIn: https://www.linkedin.com/company/lavras-gold-corp
*Additional Technical Notes: *
Quality Assurance & Quality Control: For the Butiá Gold Deposit, sample handling, preparation, and analysis are monitored through the implementation of formal chain-of-custody procedures and quality assurance/quality control programs designed to follow industry best practices.
All drill hole samples in this drilling program consist of split NQ diamond drill core. Drill core is logged and sampled in a secure facility located in Lavras do Sul, Rio Grande do Sul State, Brazil. Drill core samples for gold assay are cut in half using a diamond saw and submitted to ALS Laboratories Inc. in Goiania, Goiás State, Brazil for preparation by crushing to 85% passing 1.0 mm, riffle splitting to obtain 500 g aliquots, and pulverizing to 85% passing 75 microns.
Pulps are shipped to ALS Laboratories Inc. in Lima, Peru and analyzed by a 50g fire assay and AAS finish. Three 50g aliquots are taken for samples in the mineralized zone and one aliquot is taken in fresh rocks. The average grade of the three aliquots is used to determine the final grade of the mineralized sample.
Certified standards, non-certified blanks and field duplicates are inserted into the sample stream at regular intervals, so that QA/QC accounted for about 10% of the total samples. Results are routinely evaluated for accuracy, precision, and contamination.
Lavras Gold has been targeting larger intersections of greater than 0.25 g/t gold. Intersections that are lower than this threshold may provide exploration insight and may therefore be disclosed. The Company maintains a robust QAQC program that includes the collection and analysis of duplicate samples and the insertion of blanks and standards (certified reference material).
*Disclaimer:* Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
*Forward looking statements:* This news release includes certain “forward-looking information” within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively “forward looking statements”). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s further 2024 drill plans and future results at the LDS Project are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/cc785944-1188-4cd8-b8b6-c0580892b1ed
https://www.globenewswire.com/NewsRoom/AttachmentNg/cb42b014-fdc7-4c41-9508-1697913ad2c9
https://www.globenewswire.com/NewsRoom/AttachmentNg/472c4746-c793-48d3-93df-69c0d6807c4c
https://www.globenewswire.com/NewsRoom/AttachmentNg/83178d24-9485-4f15-b8f6-735fdd089571
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0543fb8-5dd4-4106-83fd-26302babed3b