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Lavras Gold Drills 204 metres Grading 1.0 g/t gold starting at a drill hole depth of 31 metres at its Fazenda do Posto Discovery, LDS Project in Southern Brazil

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Lavras Gold Drills 204 metres Grading 1.0 g/t gold starting at a drill hole depth of 31 metres at its Fazenda do Posto Discovery, LDS Project in Southern Brazil

 

 

 

 

 

Hole 23FP006 includes 65 metres at 1.9 g/t gold and including 10 metres at 3.0 g/t gold

  • Hole 23FP006, a scissor hole that cuts across discovery hole 23FP002, confirms the lateral continuity of gold mineralization for about 180 metres in a northeast direction and starting at a drill hole depth of 31 metres.
  • The vertical extent of gold mineralization at the Fazenda do Posto discovery has been traced for 330 metres.
  • Vertical Hole 23FP003 drilled 58 metres grading 1.0 g/t gold starting at a drillhole depth of 80 metres within a larger gold mineralized interval of 214 metres.

 

Lavras Gold Corp. (TSX-V: LGC) (OTCQX: LGCFF) reports that follow up drilling at the Fazenda do Posto discovery on the Company’s LDS Project in southern Brazil has validated the discovery reported in August 2023 (Lavras Gold press release August 29, 2023). The discovery has been confirmed in terms of gold grades, widths and continuity and remains open in several directions to resource expansion.

 

The highlight in this press release is scissor hole 23FP006 which returned assay results with continuous mineralization of 230 metres grading 0.9 g/t gold starting at 31 metres and including:

  • 204 metres grading 1.0 g/t gold from 31 metres including:
    • 65 metres grading 1.9 g/t gold from 149 metres; and including
    • 10 metres grading 3.0 g/t gold from 154 metres.

 

The Fazenda do Posto discovery is located roughly 150 metres west of the Lavras Gold Butiá Gold Deposit, which has an NI 43-101 gold resource (* footnote below) of approximately 500,000 ounces and is open to expansion.

 

Drill hole 23FP006, reported in this press release, tested the northeastern extension of Fazenda do Posto and was drilled southwest on a 200-degree azimuth and a dip of 060 degrees. The hole was collared approximately 210 metres northeast of 23FP002 – the discovery hole announced on August 29, 2023. Continuous gold mineralization was encountered in 23FP006 starting at a drill hole depth of 31 metres (vertical depth of about 27 metres) for 230 metres. Table 1 tabulates the metre-by-metre assay results.

 

“We are very pleased to validate the Fazenda do Posto gold discovery with this scissor hole, which cross cuts the earlier hole that returned 340 m at 1.1 g/t gold,” commented Lavras Gold President & CEO Michael Durose. “While it is still early in the drilling program, we are delighted to have intercepted another very long and continuous zone of gold mineralization starting at a shallow depth and running for over 200 metres. This is a unique bulk tonnage near-surface gold system characterized by remarkably continuous gold mineralization within an episyenite host rock. A higher-grade core of gold mineralization is beginning to develop based on the limited drilling we have completed so far. Drilling is ongoing and we look forward to additional drill results as we begin to unravel this new gold discovery.”

 

This discovery at Fazenda do Posto is ideally located adjacent to the 500,000 ounce Butiá gold deposit that outcrops at surface, pointing to the development of a critical mass of gold mineralization in this area. These new results continue to move Lavras Gold closer to its objective of developing an economically feasible bulk tonnage open pit gold mine.

 

Despite record rainfalls in the region that have hampered access to drilling sites and caused delays in the drilling program, the Lavras team is fast-tracking the process of defining the geometry and grade distribution of this important new discovery. Two drill rigs are working in this target area and have completed over 3,000 metres of drilling in 14 holes since making the discovery at Fazenda do Posto. Assay results will be released in meaningful batches following interpretation.

 

[* 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 drilling results

 

The Fazenda do Posto discovery is located along the western edge of the Lavras do Sul intrusive complex approximately 4.7 kilometres southwest of the town of Lavras do Sul (Figure 1). The discovery is in an area of recessive topography about 150 metres west of the Butiá Gold Deposit.

 

Follow-up Drilling Confirms Discovery at Fazenda do Posto

 

Assay results have been received for four drill holes that drilled a total of 1,520 metres at the Fazenda do Posto discovery. A summary of these results is shown in Table 2. This also includes results from hole 23FP002 – the discovery hole that was released on August 29, 2023.

 

A plan (aerial) view showing the location of all drill holes is shown in Figure 2. A cross-section facing west is shown in Figure 3.

 

Key highlights are as follows:

  • Three drill holes – FP002, FP003 and FP006 have returned significant gold assay results displaying continuous gold mineralization over very long intervals. The gold mineralization typically occurs within a brick-red coloured episyenite. The gold is usually associated with fine grained disseminated pyrite and/or arsenian pyrite and usually occurs with iron-rich dark green to black chlorite. Grey-white carbonate vesicles are typically associated with the gold mineralized zone. Photos showing examples of mineralized episyenite are shown in Figure 4, Figure 5 and Figure 6.
  • Gold mineralization has been traced over a northeast-southwest extent of about 180 metres, and a vertical distance of 330 metres. Gold mineralization starts at a vertical depth of about 26 metres in the northeast area, as defined by drill hole 23FP006, and approximately 100 metres depth as defined by drill hole 23FP002.
  • A higher-grade core of mineralization appears to be developing in the centre of the deposit, flanked by lower to moderate gold grades along the margins.

 

Highlights of drilling are detailed below and summarized in Table 2.

 

Drillhole 23FP001 was collared along the southeast edge of Fazenda do Posto with a drill hole azimuth of north 020 degrees and dip of 60 degrees. The hole returned narrow modest gold values and is interpreted to be on the eastern edge of the mineralized block of Fazenda do Posto close to a northeast trending fault. This hole was drilled primarily in perthitic granite, with a minor interval of mineralized episyenite. The hole appears to have stopped short of the main episyenite target interpreted to occur to the northeast of the end of the hole.

 

Drill hole 23FP002 (previously released discovery hole) was collared in the southwestern portion of the target area with an azimuth of north 020 and an inclined angle of 60 degrees. The highlights of drill hole 23FP002 are 340 metres grading 1.1 g/t gold from 117 metres including:

  • 160 metres grading 1.8 g/t gold from 199 metres including
    • 27 metres grading 2.1 g/t gold from 208 metres
    • 68 metres grading 2.1 g/t gold from 293 metres

 

This hole confirms gold mineralization to a vertical depth of about 390 metres.

 

Further details of this hole can be found in the Lavras Gold press release dated August 29, 2023.

 

Drillhole 23FP003 was collared 95 metres northeast of 23FP002 and drilled vertically. The hole encountered albitized Fazenda do Posto granodiorite and then intersected a lamprophyre dike at 3 metres. This was followed by altered granodiorite and then a small interval of mineralized episyenite at 24 metres. This was followed by another interval of altered granodiorite until about 87.0 metres. Strongly mineralized episyenite was encountered at a drillhole depth of 87.0 metres (75 metres vertical depth) continuously with intervals of mineralized perthitic granite to a depth of 294 metres (see Figure 4). Highlights of gold mineralization include:

  • 214 metres grading 0.50 g/t gold from 87 metres including
    • 140 metres grading 0.7 g/t gold from 87 metres including
      • 58 metres grading 1.0 g/t gold from 87 metres including
        • 39 metres grading 1.2 g/t gold from 106 metres

 

Significantly, when intervals of less than 0.25 g/t gold within the mineralized envelope are removed, the remaining mineralized interval of hole 23FP003 returns 0.9 g/t gold over 105 meters.

 

23FP004 was collared 130 metres northwest of 23FP002. The hole missed the target as the azimuth of the hole was oriented 200 degrees and pointed away from the target. However, hydrothermal alteration in the form of albite and chlorite was observed throughout the hole suggesting the rocks have good potential for finding mineralization at depth.

 

23FP006 was collared 210 metres northeast of 23FP002. This hole is a scissor hole that was drilled southwest on a 200-degree azimuth and a dip of 60 degrees. The purpose of the hole was to determine the depth and continuity of gold mineralization along the northeastern portion of the target above the trace of hole 23FP002. As highlighted in the cross section in Figure 3, the zone of gold mineralization starts at 31 metres down the drillhole (about 27 metres vertically below surface). Significant hydrothermal alteration in the form of albite alteration occurs within cover rock above the zone of gold mineralization.

 

The hole returned assay results with continuous mineralization of 230 metres grading 0.9 g/t gold starting at 31 metres and including:

  • 204 metres grading 1.0 g/t gold from 31 metres including:
    • 65 metres grading 1.9 g/t gold from 149 metres; and including
      • 10 metres grading 3.0 g/t gold from 154 metres.

 

Significantly, when intervals of less than 0.25 g/t gold within the mineralized envelope are removed, the remaining mineralized interval of hole 23FP006 returns 1.2 g/t gold over 162.9 meters.

 

Table 1 tabulates the assay results for the mineralized interval of drill hole 23FP006. Sampling was completed on 1 metre intervals for the entire length of the drill hole. Three 50 gram aliquots were assayed for each 1 metre sample, and the average grade of the three aliquots was used to derive the final gold grade.

 

Next steps at Fazenda do Posto and Butiá

 

Indications are that a significant gold mineral system is developing at the Fazenda do Posto gold discovery and the adjacent Butiá Gold Deposit.

 

Two drill rigs are on site testing these areas.

 

One near-term objective is to define the geometry and gold grade distribution of the Fazenda do Posto discovery and look for more blind discoveries. A second near-term objective is to test for extensions to the mineralized footprint of the Butiá Gold Deposit.

 

The medium-term goal is to de-risk the Fazenda do Posto discovery and Butiá Gold Deposit such that a preliminary economic study defining the general scope of a gold mining project can be prepared.

 

Regional exploration is on-going, with the goal of defining new exploration targets on the very prospective 22,000-hectare LDS Project.

 

OVERALL LDS EXPLORATION PROGRAM MARKED BY EXCEPTIONAL SUCCESS

 

In addition to these positive developments, Lavras Gold has had exceptional exploration success since going public in April 2022. A regional drone magnetic survey has been completed, and regional soil geochemistry programs are on-going. The Caneleira Gold Discovery has been reinterpreted, and new gold mineral systems have been found at Zeca SouzaGalvaoMatildeMatilde Extension, and Vila Marieta. Although Butiá and Fazendo do Posto are developing into the centre of gravity at LDS, the exploration upside on the property is very significant and on-going strategies are in place to continue exploring for and testing new targets.

 

Qualified person

 

Michael Durose, Lavras Gold’s President and CEO, is a qualified person as defined by NI 43-101. He has reviewed and approved the scientific and technical information contained in this release.

 

Quality assurance and quality control

 

For the Fazenda do Posto discovery, 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.

 

About Lavras Gold

 

Lavras Gold Corp. 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.

 

FIGURE 1

Location of the Fazenda do Posto discovery relative to Butiá Gold Deposit, as well as the advanced gold discoveries at the LDS Project.

 

FIGURE 2

Fazenda do Posto Drill holes -Plan View Showing location of Drill Holes 23FP001, 23FP002, 23FP003, 23FP004 and 23FP006.

FIGURE 3

Cross section of Fazenda do Posto Drilling looking west. Hole 23FP002 returned 340 metres grading 1.1 grams per tonne gold from 117 metres. Hole 23FP006 was collared 210 metres northeast of hole 23FP002 and returned 230 metres grading 0.9 grams per tonne gold from 31 metres and including 65 metres grading 1.9 grams per tonne gold. 23FP003 returned 108 metres grading 0.8 grams per tonne gold from 87 metres. Salmon colour represents the Fazenda do Posto granodiorite, yellow is episyenite, pink is perthitic granite. Note scale at bottom of hole. 1 ppm gold = 1 gram per tonne

 

 

 

FIGURE 4

Typical example of albitized and potassic altered mineralized episyenite from drill hole 23FP003. The rock consists of 95-96% brick red to whitish red potassium feldspar and albite, 1% black to dark green Fe-rich chlorite, 1-2% pyrite+- arsenian pyrite and 1% white to gray carbonate. This sample is from drill hole 23FP003 from 123 to 124 metres and grades 2.873 g/t gold.

 

 

FIGURE 5

Typical example of gold mineralization in episyenite from drill hole 23FP006. The rock consists of 95% brick red potassium feldspar and albite, 2-3% black to dark green iron-rich chlorite, 1-2% grey and white carbonate vesicles, and 1-3% disseminated pyrite and arsenian pyrite. This example is from drill hole 23FP006 from 120 to 121 metres. This interval grades 1.405 g/t gold. The brick red colouration in the feldspar is from iron and barium. Note that the feldspar grain boundaries are sub-rounded to sub-angular reflecting pervasive metasomatic alteration likely from alkaline fluids.

 

FIGURE 6

High-grade example of gold mineralization in episyenite from drill hole 23FP006. The rock consists of 95% brick red potassium feldspar and whitish pink albite, 1-2% black to dark green iron-rich chlorite, 1-2% grey and white carbonate vesicles, and 3-4% disseminated to network textured pyrite and arsenian pyrite. This example is from drill hole 23FP006 from 160 to 161 metres. This interval grades 8.053 g/t gold.

TABLE 1

Summary table of metre-by-metre drilling assay results from drill hole 23FP006 on Fazenda do Posto target.

 

Hole Azimuth
(degrees)
Dip
(degrees)
End of hole
(metres)
From
(metres)
To
(metres)
Gold interval
(metres)
Gold grade
(g/t)
Lithology
23FP006 200 -60 299.83 31.1 32.0 0.9 0.31 Episyenite
        33.0 35.0 2.0 0.14 Episyenite
        35.0 37.0 2.0 0.11 Episyenite
        37.0 39.0 2.0 0.35 Episyenite
        39.0 41.0 2.0 0.02 Episyenite
        41.0 43.0 2.0 0.01 Episyenite
        43.0 45.0 2.0 0.01 Episyenite
        45.0 47.0 2.0 0.02 Episyenite
        47.0 48.0 1.0 0.32 Episyenite
        48.0 49.0 1.0 0.55 Episyenite
        49.0 50.4 1.4 0.01 Episyenite
        50.4 51.7 1.3 0.01 Episyenite
        51.7 53.0 1.3 0.01 Episyenite
        53.0 54.0 1.0 0.01 Episyenite
        54.0 55.0 1.0 0.34 Episyenite
        55.0 56.0 1.0 0.74 Episyenite
        56.0 57.0 1.0 0.41 Episyenite
        57.0 58.0 1.0 0.50 Episyenite
        58.0 59.0 1.0 0.62 Episyenite
        59.0 60.0 1.0 0.65 Episyenite
        60.0 61.0 1.0 0.50 Episyenite
        61.0 62.0 1.0 0.35 Episyenite
        62.0 63.0 1.0 0.30 Episyenite
        63.0 64.0 1.0 0.43 Episyenite
        64.0 65.0 1.0 0.24 Episyenite
        65.0 66.0 1.0 0.57 Episyenite
        66.0 67.0 1.0 0.42 Episyenite
        67.0 68.0 1.0 0.16 Episyenite
        68.0 69.0 1.0 0.47 Episyenite
        69.0 70.0 1.0 0.41 Episyenite
        70.0 71.0 1.0 0.26 Episyenite
        71.0 72.0 1.0 0.40 Episyenite
        72.0 73.0 1.0 0.45 Episyenite
        73.0 74.0 1.0 0.27 Episyenite
        74.0 75.0 1.0 0.52 Episyenite
        75.0 76.0 1.0 0.44 Episyenite
        76.0 77.0 1.0 0.92 Episyenite
        77.0 78.0 1.0 0.70 Perthitic granite
        78.0 79.0 1.0 0.42 Episyenite
        79.0 80.0 1.0 0.34 Episyenite
        80.0 81.0 1.0 0.50 Episyenite
        81.0 82.0 1.0 0.68 Episyenite
        82.0 83.0 1.0 1.04 Episyenite
        83.0 84.0 1.0 0.59 Episyenite
        84.0 85.0 1.0 0.87 Episyenite
        85.0 86.0 1.0 0.92 Episyenite
        86.0 87.0 1.0 1.62 Episyenite
        87.0 88.0 1.0 1.21 Episyenite
        88.0 89.0 1.0 0.71 Episyenite
        89.0 90.0 1.0 0.45 Episyenite
        90.0 91.0 1.0 0.89 Episyenite
        91.0 92.0 1.0 0.59 Episyenite
        92.0 93.0 1.0 1.37 Episyenite
        93.0 94.0 1.0 1.81 Episyenite
        94.0 95.0 1.0 1.33 Episyenite
        95.0 96.0 1.0 0.50 Episyenite
        96.0 97.0 1.0 1.72 Episyenite
        97.0 98.0 1.0 0.95 Episyenie
        98.0 99.0 1.0 1.12 Episyenite
        99.0 100.0 1.0 1.09 Episyenite
        100.0 101.0 1.0 0.94 Episyenite
        101.0 102.0 1.0 0.67 Episyenite
        102.0 103.0 1.0 0.92 Episyenite
        103.0 104.0 1.0 0.73 Episyenite
        104.0 105.0 1.0 0.83 Episyenite
        105.0 106.0 1.0 1.13 Episyenite
        106.0 107.0 1.0 0.82 Episyenite
        107.0 108.0 1.0 0.54 Episyenite
        108.0 109.0 1.0 0.49 Episyenite
        109.0 110.0 1.0 1.06 Episyenite
        110.0 111.0 1.0 0.73 Episyenite
        111.0 112.0 1.0 1.01 Episyenite
        112.0 113.0 1.0 0.91 Episyenite
        113.0 114.0 1.0 0.36 Episyenite
        114.0 115.0 1.0 0.29 Episyenite
        115.0 116.0 1.0 0.11 Episyenite
        116.0 117.0 1.0 0.17 Episyenite
        117.0 118.0 1.0 0.42 Episyenite
        118.0 119.0 1.0 0.70 Episyenite
        119.0 120.0 1.0 0.53 Episyenite
        120.0 121.0 1.0 1.41 Episyenite
        121.0 122.0 1.0 0.66 Episyenite
        122.0 123.0 1.0 0.50 Episyenite
        123.0 124.0 1.0 0.59 Episyenite
        124.0 125.0 1.0 1.38 Episyenite
        125.0 126.0 1.0 0.02 Episyenite
        126.0 127.0 1.0 0.89 Episyenite
        127.0 128.0 1.0 0.64 Episyenite
        128.0 129.0 1.0 0.71 Episyenite
        129.0 130.0 1.0 0.44 Episyenite
        130.0 131.0 1.0 0.53 Episyenite
        131.0 132.0 1.0 0.41 Episyenite
        132.0 133.0 1.0 0.16 Perthitic Granite
        133.0 134.0 1.0 0.01 Perthitic Granite
        134.0 135.0 1.0 0.14 Perthitic Granite
        135.0 136.0 1.0 0.90 Episyenite
        136.0 137.0 1.0 1.09 Episyenite
        137.0 138.0 1.0 1.03 Episyenite
        138.0 139.0 1.0 0.29 Episyenite
        139.0 140.0 1.0 0.51 Episyenite
        140.0 141.0 1.0 0.57 Episyenite
        141.0 142.0 1.0 0.52 Episyenite
        142.0 143.0 1.0 0.81 Episyenite
        143.0 144.0 1.0 0.47 Episyenite
        144.0 145.0 1.0 2.43 Episyenite
        145.0 146.0 1.0 0.16 Episyenite
        146.0 147.0 1.0 0.12 Episyenite
        147.0 148.0 1.0 0.10 Episyenite
        148.0 149.0 1.0 0.12 Episyenite
        149.0 150.0 1.0 2.04 Episyenite
        150.0 151.0 1.0 2.91 Episyenite
        151.0 152.0 1.0 2.22 Episyenite
        152.0 153.0 1.0 2.11 Episyenite
        153.0 154.0 1.0 0.83 Episyenite
        154.0 155.0 1.0 2.92 Episyenite
        155.0 156.0 1.0 2.04 Episyenite
        156.0 157.0 1.0 3.19 Episyenite
        157.0 158.0 1.0 3.94 Episyenite
        158.0 159.0 1.0 2.02 Episyenite
        159.0 160.0 1.0 0.67 Episyenite
        160.0 161.0 1.0 8.05 Episyenite
        161.0 162.0 1.0 1.90 Episyenite
        162.0 163.0 1.0 1.75 Episyenite
        163.0 164.0 1.0 3.13 Episyenite
        164.0 165.0 1.0 0.98 Episyenite
        165.0 166.0 1.0 1.28 Episyenite
        166.0 167.0 1.0 2.47 Episyenite
        167.0 168.0 1.0 2.66 Episyenite
        168.0 169.0 1.0 1.47 Episyenite
        169.0 170.0 1.0 2.13 Episyenite
        170.0 171.0 1.0 1.85 Episyenite
        171.0 172.0 1.0 1.33 Episyenite
        172.0 173.0 1.0 0.82 Episyenite
        173.0 174.0 1.0 1.13 Episyenite
        174.0 175.0 1.0 1.99 Episyenite
        175.0 176.0 1.0 0.79 Episyenite
        176.0 177.0 1.0 1.69 Episyenite
        177.0 178.0 1.0 1.97 Episyenite
        178.0 179.0 1.0 1.47 Episyenite
        179.0 180.0 1.0 1.29 Episyenite
        180.0 181.0 1.0 2.30 Episyenite
        181.0 182.0 1.0 1.04 Episyenite
        182.0 183.0 1.0 0.68 Episyenite
        183.0 184.0 1.0 2.08 Episyenite
        184.0 185.0 1.0 2.94 Episyenite
        185.0 186.0 1.0 0.73 Episyenite
        186.0 187.0 1.0 2.47 Episyenite
        187.0 188.0 1.0 0.96 Episyenite
        188.0 189.0 1.0 0.64 Episyenite
        189.0 190.0 1.0 1.44 Episyenite
        190.0 191.0 1.0 3.01 Episyenite
        191.0 192.0 1.0 2.26 Episyenite
        192.0 193.0 1.0 1.56 Episyenite
        193.0 194.0 1.0 1.33 Episyenite
        194.0 195.0 1.0 2.10 Episyenite
        195.0 196.0 1.0 1.39 Episyenite
        196.0 197.0 1.0 2.17 Episyenite
        197.0 198.0 1.0 1.74 Episyenite
        198.0 199.0 1.0 1.72 Episyenite
        199.0 200.0 1.0 1.65 Episyenite
        200.0 201.0 1.0 1.77 Episyenite
        201.0 202.0 1.0 2.51 Episyenite
        202.0 203.0 1.0 1.86 Episyenite
        203.0 204.0 1.0 1.54 Episyenite
        204.0 205.0 1.0 4.07 Episyenite
        205.0 206.0 1.0 1.22 Episyenite
        206.0 207.0 1.0 1.25 Episyenite
        207.0 208.0 1.0 1.20 Episyenite
        208.0 209.0 1.0 1.44 Episyenite
        209.0 210.0 1.0 1.34 Episyenite
        210.0 211.0 1.0 0.23 Perthitic Granite
        211.0 212.0 1.0 0.72 Perthitic Granite
        212.0 213.0 1.0 2.18 Perthitic Granite
        213.0 214.0 1.0 2.59 Perthitic Granite
        214.0 215.0 1.0 0.32 Perthitic Granite
        215.0 216.0 1.0 0.14 Perthitic Granite
        216.0 217.0 1.0 0.14 Perthitic Granite
        217.0 218.0 1.0 0.69 Perthitic Granite
        218.0 219.0 1.0 0.04 Perthitic Granite
        219.0 220.0 1.0 0.08 Perthitic Granite
        220.0 221.0 1.0 0.36 Perthitic Granite
        221.0 222.0 1.0 0.18 Perthitic Granite
        222.0 223.0 1.0 0.10 Perthitic Granite
        223.0 224.0 1.0 0.01 Perthitic Granite
        224.0 225.0 1.0 0.09 Perthitic Granite
        225.0 226.0 1.0 0.16 Perthitic Granite
        226.0 227.0 1.0 0.02 Perthitic Granite
        227.0 228.0 1.0 0.02 Perthitic Granite
        228.0 229.0 1.0 0.13 Perthitic Granite
        229.0 230.0 1.0 0.12 Perthitic Granite
        230.0 231.0 1.0 0.11 Perthitic Granite
        231.0 232.0 1.0 1.31 Perthitic Granite
        232.0 233.0 1.0 0.05 Perthitic Granite
        233.0 234.0 1.0 0.20 Perthitic Granite
        234.0 235.0 1.0 0.33 Perthitic Granite
        235.0 236.0 1.0 0.01 Perthitic Granite
        236.0 237.0 1.0 0.01 Perthitic Granite
        237.0 239.0 2.0 0.01 Perthitic Granite
        239.0 241.0 2.0 0.01 Perthitic Granite
        241.0 243.0 2.0 0.04 Perthitic Granite
        243.0 245.0 2.0 0.02 Perthitic Granite
        245.0 247.0 2.0 0.02 Perthitic Granite
        247.0 249.0 2.0 0.06 Perthitic Granite
        249.0 250.0 1.0 0.03 Perthitic Granite
        250.0 251.0 1.0 0.08 Perthitic Granite
        251.0 252.0 1.0 0.20 Perthitic Granite
        252.0 253.0 1.0 0.03 Perthitic Granite
        253.0 254.0 1.0 0.02 Perthitic Granite
        254.0 255.0 1.0 0.07 Perthitic Granite
        255.0 256.0 1.0 0.10 Perthitic Granite
        256.0 257.0 1.0 1.84 Perthitic Granite
        257.0 258.0 1.0 0.26 Perthitic Granite
        258.0 259.0 1.0 0.25 Perthitic Granite
        259.0 260.0 1.0 0.61 Perthitic Granite
        260.0 261.0 1.0 0.16 Perthitic Granite
        261.0 262.0 1.0 0.08 Perthitic Granite
        262.0 263.0 1.0 0.01 Perthitic Granite
        263.0 264.0 1.0 0.01 Perthitic Granite
        264.0 265.0 1.0 0.01 Perthitic Granite
        265.0 267.0 2.0 0.02 Perthitic Granite
        267.0 269.0 2.0 0.01 Perthitic Granite
        269.0 271.0 2.0 0.02 Perthitic Granite
        271.0 273.0 2.0 0.01 Perthitic Granite
        273.0 275.0 2.0 0.01 Perthitic Granite
        275.0 277.0 2.0 0.01 Perthitic Granite
        277.0 279.0 2.0 0.01 Perthitic Granite
        279.0 281.0 2.0 0.01 Perthitic Granite
        281.0 283.0 2.0 0.01 Perthitic Granite
        283.0 285.0 2.0 0.01 Perthitic Granite
        285.0 287.0 2.0 0.01 Perthitic Granite
        287.0 289.0 2.0 0.01 Perthitic Granite
        289.0 291.0 2.0 0.01 Perthitic Granite
        291.0 293.0 2.0 0.01 Perthitic Granite
        293.0 295.0 2.0 0.01 Perthitic Granite
        295.0 297.0 2.0 0.01 Perthitic Granite
        297.0 299.8 2.8 0.01 Perthitic Granite

Notes

  • 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 that are 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

Summary of Drill hole Assay Results for Fazenda do Posto target.

 

Hole Azimuth

(degrees)

Dip

(dip)

End of hole

(metres)

From

(metres)

To

(metres)

Interval

(metres)

Gold grade

(grams/tonne)

Comment
23FP001 20 -60 214.05 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 20 -60 464.59 58.00 59.00 1.00 0.18 Discovery hole
        117.00 457.00 340.00 1.09 Mineralized episyenite
      Including 199.00 359.00 160.00 1.79  
      Including 208.00 235.00 27.00 2.07  
      Including 293.00 361.00 68.00 2.09  
                 
23FP003 0 -90 332.17 24.00 27.00 3.00 0.71  
        87.00 294.00 207.00 0.49  
      including 87.00 227.00 140.00 0.67  
      Including 87.00 195.00 108.00 0.80  
      Including 87.00 151.00 64.00 0.91 Mineralized episyenite
      Including 87.00 145.00 58.00 0.97  
      Including 106.00 145.00 39.00 1.17  
                 
Hole Azimuth

(degrees)

Dip

(degrees)

End of hole

(metres)

From

(metres)

To

(metres)

Interval

(metres)

Gold grade

(grams/tonne)

Comment
23FP004 200 -60   No Significant Value       Drilled southwest away from target
                 
23FP006 200 -60   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  
      including 149.00 214.00 65.00 1.94  
      including 149.00 187.00 38.00 2.03  
      including 154.00 164.00 10.00 2.96  
      including 190.00 205.00 15.00 2.05  

 

Posted November 27, 2023

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