Lavras Gold Corp. (TSXV: LGC) has confirmed its LDS Project mineral system hosts extremely high-grade gold, silver, and copper in certain areas with the latest results from the Matilde Extension, one of 23 known targets at the LDS project in Southern Brazil.
Two of the targets—Butiá and Cerrito—have consolidated NI 43-101 resources of one million gold ounces. Two new discoveries—Zeca Souza and Matilde—were announced in 2022.
“The results from hole 21MT020 are very exciting, and not just because of the extremely high gold grades,” said Michael Durose, President and CEO of Lavras Gold.
“We are also seeing chalcopyrite and bornite, which are two important copper sulphide minerals that are typically associated with higher temperature fluids and high-grade gold and silver. These results may be directing us to a possibly higher-grade core of mineralization in the Matilde Extension area.”
Seven holes totalling 3,123m were drilled at Matilde Extension, located 675m northeast of the Matilde discovery. While mineralization was encountered in all seven holes, 21MT020 is the best hole. This hole intercepted three intervals of mineralization, with the third intercept being the most important.
It was characterised by a thick interval of continuous mineralization featuring very high-grade gold, silver, and copper. It assayed 10.00m grading 13.21g/t gold, 22.94g/t silver, and 0.22% copper from 345.00m, including: 5.00m grading 23.15g/t gold, 42.75g/t silver, and 0.41% copper from 347.00m.
It also intersected a 1.00m subzone that yielded grades as high as 63.70g/t gold, more than 100g/t silver, and 0.63% copper from 347.00 metres.
The key takeaways from the results to date at Matilde Extension are:
- multiple intercepts of elevated gold mineralization were encountered in all seven holes
- three of seven holes—21MT020, 22MT030, 22MT038—returned high copper grades that correlate to very high gold and silver grades
- more intense hydrothermal alteration and thicker zones of copper, gold, and silver mineralization appear to be developing at depth; narrow-scale quartz sulphide veinlets hosting copper with elevated gold values appear closer to the surface
- a northeast metal zonation vector from low-temperature iron rich pyrite to higher temperature copper rich chalcopyrite/bornite seems to be developing when moving from Matilde to the Matilde Extension Zone. This may have important implications for gold grade distribution.
- The current interpretation is that mineralization at Matilde Extension is associated with a northeast trending structure as defined by aeromagnetic data and oriented core measurements of sulphide-bearing veinlets
- Matilde Extension remains open along strike and at depth.
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