- Lavras Gold (LG) is reporting new gold mineralization from its LDS Project in Southern Brazil
- The latest discovery includes long intervals with bonanza grade subintervals in some cases
- Results stem from the project’s Galvao target
- The company intercepted 4.63 grams per tonne of gold over 10 metres at one point
- Lavras Gold (TSXV:LG) is up 1.52 percent, trading at $0.34 at 1:07 pm ET
Lavras Gold (LG) is reporting new gold mineralization from its LDS Project in Southern Brazil.
Results stem from the project’s Galvao target.
The latest discovery includes long intervals with bonanza grade subintervals in some cases.
The discovery is the Toronto-based mineral explorer’s fourth so far on the property. The company intercepted 4.63 grams per tonne of gold over 10 metres.
This marks the first time the Galvao target has been drill-tested, and results show the 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.
There are now seven advanced mineral deposits or exploration discoveries at the LDS Project.
“The mineralization discovered at Galvao appears to be the southern extension of the Zeca Souza discovery,” President and Chief Executive Officer Michael Durose said in a statement.
“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.”
A 16,000-metre drilling program is on-going on the LDS Property.
Lavras Gold (TSXV:LG) is up 1.52 percent, trading at $0.34 at 1:07 pm ET.
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