TORONTO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF) has extended its 16,000-metre drill program to 20,000 metres, and with two drills turning at site, is actively following up on the Fazenda do Posto discovery at its LDS Project in southern Brazil.
“With the closing of our recent financing, Lavras Gold is well-funded to follow up on its recent discovery at Fazenda do Posto and work to increase the footprint of the Butiá Gold Deposit along the western portion of the property,” said Michael Durose, President and CEO of Lavras Gold. “We are also continuing with our regional exploration initiatives, including soil sampling, aimed at defining new exploration targets for future drilling.”
The Company expects to focus its drilling over the foreseeable future at Fazenda do Posto and the Butiá Gold Deposit, where the goal is to define the geometry and gold grade distribution of these areas and ultimately grow its overall gold inventory.
Two drills are currently turning, one at Fazenda do Posto and one at Butiá. Once the drill core has been logged and assay results have been obtained and interpreted, the results will be disclosed. The typical turnaround time is approximately six to eight weeks.
“This is an exciting time for our Company,” added Durose. “We are entering the spring and summer dry season in southern Brazil and expect the field exploration program to ramp up as conditions improve. We have a lot of work ahead of us that will generate significant future news flow.”
About Lavras Gold
Lavras Gold Corp. (TSXV: LGC, OTCQB: 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 23 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.
Contact information
Michael Durose, President and CEO | Annemarie Brissenden, Investor Relations
investor@lavrasgold.com |+1-416-844-6284
DISCLAIMER AND FORWARD-LOOKING INFORMATION
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements, including those on planned exploration activities and goals, are only objectives and predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information, including the risks and factors that generally affect exploration and the uncertainty of exploration results. For a description of the risks and uncertainties facing the Company and its business, refer to the Company’s Management’s Discussion and Analysis recently filed under the Company’s profile on www.sedar.com. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
