Lavras Gold’s Third Quarter Marked by Discovery - Seite 2

In September, assay results were announced from Zeca Souza, where drilling returned bonanza gold grades. Assays included 28.2 g/t gold over 3 metres within a broader zone of 5.8 g/t gold over 15 metres at a vertical depth of about 100 metres. (Full details are available in the news release, Zeca Souza drilling returns bonanza gold grades, from September 7, 2022.)

All 14 holes drilled at the target hit at least one but more typically multiple intercepts of gold, and many holes bottomed in gold mineralization. Other highlights of the results included visible gold, high grades and good widths, long intervals, and holes open at depth.

Zeca Souza is an important new gold discovery that supports the thesis that there are many, possibly connected, gold deposits at LDS. For example, a reinterpretation of the relationship between Zeca Souza and Caneleira, another target located about 1 kilometre southwest, suggests they may be connected.

A gold-bearing structure identified in a 2007-2008 drilling program was defined over 800 metres at Caneleira. It returned near-surface gold grades across very good widths including 36.1 metres grading 1.42 g/t gold about 60 metres below surface. A number of holes bottomed in mineralization. Follow up work needs to be done on a southeast-northwest trending gold bearing structure that’s associated with a magnetic low at Caneleira that trends toward Zeca Souza. A detailed soil sampling program is underway. For full results, please see the Zeca Souza news release referenced above.

After quarter end, results were announced from the Matilde target, where the discovery of a new gold deposit was confirmed.

Matilde lies along a coincident 3 kilometre east-west gold-in-soil anomaly centered on an east-west trending magnetic-low anomaly that is interpreted to be a major gold-hosting structure. The drill program has defined a gold system with mineralization that:

• begins at surface
• has been traced over a strike length of at least 250 metres
• extends to a minimum vertical depth of 483 metres.
  

The deposit is open for expansion along strike and at depth.

Like Zeca Souza, drilling from Matilde also returned bonanza gold grades, usually associated with visible gold. Examples include 30.9 g/t gold over 0.60 metres in hole 20MT-002 from 261.0 metres and 13.10 g/t gold over 0.66 metres from 419.34 metres in hole 22MT-034. (Full details are available in the November 3, 2022, news release: Lavras Gold discovers new gold deposit at LDS Project in Brazil.)