Figure 1. Plan View of 2023 Fazenda do Posto Drill Holes Showing Lithology & Gold Assay Results. Source: Lavras Gold

Lavras Gold (TSXV:LGC) has announced positive results from six new drill holes testing the Fazenda do Posto gold discovery, located on its LDS project in southern Brazil. These latest findings contribute to Lavras Gold’s ongoing exploration program aimed at defining an economically viable gold resource on the project.

Lavras Gold President & CEO Michael Durose commented in a press release: “These new drilling results are consistent with previous drill results and demonstrate the excellent near-surface gold grade and continuity of Fazenda do Posto. The large lateral and vertical extent of the hydrothermal alteration points to a sizable gold mineral system for which the full potential remains to be tested. Results like these have the potential to materially enhance the economics of a combined Butiá-Fazenda do Posto near-surface bulk tonnage open-pit type of gold project. Fazenda do Posto is not only demonstrating very good continuity and gold grade at depth, but also laterally, where it remains open in several directions. Two drills are actively working in the area, drilling off the Fazenda do Posto area in a grid with vertical holes on 50 metre centres.”

Drilling Confirms Extensive Gold Mineralization at Fazenda do Posto

The six new drill holes, numbered 23FP007 through 23FP012, were designed to investigate the characteristics and scope of gold mineralization and hydrothermal alteration associated with the Fazenda do Posto discovery. This recent drilling program adds to the six holes previously disclosed, bringing the total to 12 holes drilled for a cumulative length of 3,309 meters.

All assay results are presented in Table 1 of the company’s press release, while drill-collar coordinates are summarized in Table 2. Figures 1 and 2 included in the press release illustrate the drill hole locations and a cross-section, respectively.

Initial findings indicate a substantial gold mineral system featuring near-surface, bulk-tonnage disseminated gold mineralization. This gold is hosted within hydrothermally altered granitic rock and lies strategically positioned 150 meters west of the adjacent Butiá gold deposit, which boasts a measured, indicated, and inferred gold resource of approximately 0.5 million ounces and is also open for potential expansion.

Drilling Highlights Favorable Characteristics for Future Development

The latest drilling campaign yielded encouraging results, encountering extended intervals of gold mineralization with zones of higher grades. The host rocks exhibit extensive hydrothermal alteration, and the gold itself is typically found within disseminated sulfide minerals like pyrite and arsenian pyrite, hosted within episyenite or mineralized perthitic granite. Notably, instances of visible gold have been observed in association with these sulfide minerals.

The current exploration program suggests the mineralization is bulk-tonnage in nature, extending to depths exceeding 400 meters with a lateral extent of at least 200 meters in two directions: northeast-southwest and northwest-southeast.

Exploration Program Moving Forward with Defined Objectives

Figure 2. Cross Section of 2023 Fazenda do Posto Drill Holes (Looking West) Showing Lithology and Assay Results. Source; Lavras Gold

The primary objective of this drilling phase was to delineate the geometry and distribution of alteration and gold mineralization at Fazenda do Posto. Although the program is still in its early stages, the initial findings are highly promising, showcasing the discovery of a large, disseminated, bulk-tonnage, intrusive-hosted gold system.

The lateral extent and intensity of the hydrothermal alteration zone have now been traced over significant distances, exceeding 200 meters in two directions and reaching depths surpassing 400 meters. Additionally, gold mineralization has been identified across extensive, continuous intervals spanning hundreds of meters.

At Fazenda do Posto, a core zone of higher-grade gold mineralization appears to be developing at depth, surrounded by a halo of lower-grade gold. The mineralization is typically associated with disseminated sulfides (pyrite and arsenian pyrite) commonly hosted within the vuggy spaces of pervasively altered granitoids. The mineral system remains open in several directions, warranting further exploration through extensive drilling.

Significance of Fazenda do Posto in Relation to Butiá Gold Deposit

A crucial aspect of the exploration program is understanding the potential connection between the Fazenda do Posto discovery and the neighboring Butiá gold deposit. The newly defined gold mineralization at Fazenda do Posto lies 150 meters west of the Butiá deposit, which currently holds a NI 43-101 compliant measured, indicated, and inferred gold resource of 0.5 million ounces. Both deposits hold the potential for future expansion, and it is conceivable that they could be developed as a unified mining project in the future. Figures 4 and 5 in the press release depict the relative positions of the Butiá gold resource and the Fazenda do Posto discovery.

Next Steps and Future Exploration Plans

The next phase of the drilling program will involve systematically drilling Fazenda do Posto on a 50-meter grid using vertical holes. This approach aims to gain a clearer understanding of the size, geometry, and grade distribution of the discovery. This drilling strategy will also be selectively applied to the Butiá gold deposit as the program progresses, with further refinements potentially incorporated based on ongoing results.

Lavras Gold’s primary short-term objective is to define an economically viable gold resource on the LDS project, with a particular focus on Fazenda do Posto and the adjacent Butiá gold deposit.

The ongoing drilling program utilizes two diamond drill rigs currently operating on-site and is anticipated to continue uninterruptedly until the first half of 2025. Lavras Gold has budgeted for approximately 10,000 meters of drilling to explore Fazenda do Posto. Additional drilling on these targets may be conducted based on promising results. The second half of 2024 is slated for exploration drilling of other targets on the LDS property, with the ultimate goal of uncovering new commercially viable gold deposits.

Highlights from the results are as follows:

Hole 23FP011:

  • 173.0 metres grading 1.0 g/t gold from 69.0 metres and including:
    • 2.0 metres grading 2.1 g/t gold from 99.0 metres
    • 94.8 metres grading 1.4 g/t gold from 126.0 metres (about 109.0 metres vertical),
    • including 2.0 metres grading 3.6 g/t gold from 126.0 metres, and
    • 3.0 metres grading 2.5g/t gold from 135.0 metres, and
    • 6.0 metres grading 2.0 g/t gold from 209.0 metres

Hole 23FP008:

  • 123.0 metres grading 1.1 g/t gold from 228.0 metres including:
    • 78.0 metres grading 1.4 g/t gold from 228.0 metres and
    • 35.0 metres grading 2.5 g/t gold from 231.0 metres and
    • 4.0 metres grading 2.7 g/t gold from 331.0 metres and
    • 3.0 metres grading 3.5 g/t gold from 332.0 metres and
    • 1.0 metre grading 8.8 g/t gold from 334.0 metres
  • Drill hole 23FP011 was collared in the northeastern portion of Fazenda do Posto (see Figure 1). The hole was drilled at an inclined angle of 60 degrees on an azimuth of 200 degrees. The purpose was to test the lateral continuity of mineralization and gold grade continuity at depth towards the southwest. A long continuous interval of bulk-tonnage disseminated gold mineralization was encountered starting at 69.0 metres (60.0 metres vertical depth) to 242.0 metres down the drill core (vertical depth of 210 metres) within mineralized episyenite as detailed below. Generally, this long interval of continuous mineralization has multiple higher-grade intervals. Highlights are as follows:173.0 metres grading 1.0 g/t gold from 69.0 metres including:
    • 4.0 metres grading 1.2 g/t gold from 75.0 metres
    • 6.0 metres grading 1.1 g/t gold from 97.0 metres
    • 2.0 metres grading 2.1 g/t gold from 99.0 metres
    • 94.8 metres grading 1.4 g/t gold from 126.0 metres
    • 2.0 metres grading 3.6 g/t gold from 126.0 metres
    • 3.0 metres grading 2.5 g/t gold from 135.0 metres, and
    • 8.0 metres grading 1.6 g/t gold from 153.0 metres
    • 14.9 metres grading 1.7 g/t gold from 166.1 metres
    • 13.0 metres grading 1.5 g/t gold from 191.0 metres
    • 6.0 metres grading 2.0 g/t gold from 209.0 metres, and
    • 2.0 metres grading 2.0 g/t gold from 239.1 metres

Drillhole 22FP008 was collared in the northeast portion of Fazenda do Posto and drilled on an azimuth of 200 degrees at an inclined angle of 80 degrees (see Figure 1). The purpose was to better understand the nature and continuity of gold mineralization at depth. Continuous gold mineralization was encountered over long intervals in episyenite and mineralized perthitic granite. Higher-grade intervals have been found at depth. A summary of assay composites is as follows:

  • 123.0 metres grading 1.1 g/t gold from 228.0 metres including:
    • 78.0 metres grading 1.4 g/t gold from 228.0 metres
    • 35.0 metres grading 2.5 g/t gold from 231.0 metres
    • 20.0 metres grading 0.6 g/t gold from 325.0 metres
    • 4.0 metres grading 2.7 g/t gold from 331.0 metres
    • 3.0 metres grading 3.5 g/t gold from 332.0 metres

Drillhole 23FP010 was positioned in the central portion of Fazenda do Posto, above the trace of drillhole 23FP002 (see Figure 1 & Figure 2). The hole was drilled on an azimuth of 110 degrees and inclined at 60 degrees. The purpose was to better understand the nature of the geology and the extent of alteration and possible mineralization along a southeast direction perpendicular to the azimuth of drill hole 23FP002. Figure 3 shows an example of near-surface mineralized episyenite from 23FP010. A continuous zone of intense albite alteration interspersed with zones of bulk-tonnage and disseminated style of gold mineralization consisting mainly of disseminated pyrite +- arsenian pyrite within episyenite and perthitic granite was encountered from 3.0 metres to 147.0 metres – a drillhole length of 144.0 metres. Further highlights are as follows:

  • 144.0 metres grading 0.6 g/t gold from 3.0 metres including:
    • 41.0 metres grading 1.0 g/t gold from 3.0 metres and including
    • 21.0 metres grading 1.3 g/t gold from 23.0 metres and
    • 9.0 metres grading 2.2 g/t gold from 31.0 metres and including
    • 4.0 metres grading 3.5 g/t gold from 31.0 metres
    • 2.0 metres grading 1.6 g/t gold from 78.0 metres
    • 4.4 metres grading 1.2 g/t gold from 107.0 metres

Drillhole 23FP012 was collared along the northwest edge of the Fazenda do Posto mineralized footprint and drilled on an azimuth of 110 degrees and inclined 60 degrees (see Figure 1). The purpose was to test the central western extension of hydrothermal alteration and mineralization. The hole encountered very intense albite alteration with moderate intervals of gold starting at 4.0 metres depth. Significant long intervals of higher gold grades were found at 58.0 metres along the drill core after intersecting a lamprophyre dyke. Several long intervals of disseminated gold mineralization were encountered and including multiple higher-grade subintervals as follows:

  • 115.0 metres grading 0.6 g/t gold from 58.0 metres including:
    • 53.0 metres grading 0.9 g/t gold from 118.0 metres and
    • 26.0 metres grading 1.1 g/t gold from 130.0 metres, and including
    • 15.0 metres grading 1.2 g/t gold from 130.0 metres, and
    • 6.0 metres grading 1.1 g/t gold from 162.0 metres

Table 1. Summary of Drill Hole Composites from Fazenda do Posto Gold Discovery

Drill Hole From To Interval Gold grade Comment
(metres) (metres) (metres) (grams/tonne)
23FP001 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 58.00 59.00 1.00 0.18 Extensive albite alteration
117.00 457.00 340.00 1.09 Mineralized episyenite
Including 199.00 359.00 160.00 1.79 Brick red colouration (Ba, Fe)
Including 208.00 235.00 27.00 2.07
Including 293.00 361.00 68.00 2.09
23FP003 24.00 27.00 3.00 0.71 Extensive albite alteration
87.00 294.00 207.00 0.49 Mineralized episyenite
including 87.00 227.00 140.00 0.67 Extensive albite alteration
Including 87.00 195.00 108.00 0.80 Mineralized episyenite
Including 87.00 151.00 64.00 0.91 Brick red colouration (Ba, Fe)
Including 106.00 145.00 39.00 1.17
23FP004 No Significant Values Fresh granodiorite, perthitic granite, drilled SW
23FP005 118.00 119.00 1.00 0.26 Extensive albite alteration
131.55 135.00 3.45 1.01 Mineralized perthitic granite
139.00 140.00 1.00 0.99 Mineralized perthitic granite
143.00 146.00 3.00 1.21 Mineralized perthitic granite
159.00 161.00 2.00 0.26 Mineralized perthitic granite
171.00 172.00 1.00 0.33 Mineralized perthitic granite
176.00 177.00 1.00 0.30 Mineralized perthitic granite
181.00 182.00 1.00 0.33 Mineralized perthitic granite
23BT006 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 Mineralized episyenite
including 149.00 214.00 65.00 1.94 Mineralized episyenite
including 149.00 187.00 38.00 2.03 Mineralized episyenite
including 154.00 164.00 10.00 2.96 Mineralized episyenite
including 190.00 205.00 15.00 2.05 Mineralized episyenite
23FP007 No Significant Values Fresh granodiorite, perthitic granite, drilled NE
23FP008 104.00 105.00 1.00 0.27 Mineralized episyenite
114.00 115.00 1.00 0.42 Mineralized episyenite
106.00 229.00 123.00 1.12 Mineralized episyenite
including 228.00 306.00 78.00 1.36 Mineralized episyenite
including 231.00 266.00 35.00 2.46 Mineralized episyenite
325.00 345.00 20.00 0.60 Mineralized perthitic granite
including 331.00 335.00 4.00 2.67 Mineralized perthitic granite
including 332.00 335.00 3.00 3.49 Mineralized perthitic granite
23FP009 1.00 3.00 2.00 0.49 Pervasive albite alteration
15.00 16.00 1.00 0.40 Pervasive albite alteration
23.01 37.00 13.99 0.79 Pervasive albite alteration
Including 29.00 38.00 9.00 0.91 Pervasive albite alteration
40.00 40.94 0.94 0.25 Pervasive albite alteration
75.00 77.00 2.00 0.72 Pervasive albite alteration
93.00 96.00 3.00 0.44 Pervasive albite alteration
131.00 132.00 1.00 0.41 Pervasive albite alteration
149.00 152.00 3.00 0.44 Pervasive albite alteration
157.00 160.00 3.00 0.43 Pervasive albite alteration
162.00 163.00 1.00 0.25 Pervasive albite alteration
164.00 168.00 4.00 0.30 Pervasive albite alteration
23FP010 3.00 147.00 144.00 0.58 Pervasive albite alteration, episyenite, Perthitic granite
Including 3.00 44.00 41.00 1.00 Mineralized episyenite
Including 3.00 4.00 1.00 1.06 Mineralized episyenite
Including 23.00 44.00 21.00 1.29 Mineralized episyenite
Including 23.00 26.00 3.00 1.07 Mineralized episyenite
Including 31.00 40.00 9.00 2.17 Mineralized episyenite
Including 31.00 35.00 4.00 3.46 Mineralized episyenite
Including 50.00 51.00 1.00 1.14 Mineralized episyenite
Including 64.00 65.00 1.00 1.28 Mineralized episyenite
Including 72.00 79.00 7.00 0.89 Mineralized episyenite
Including 78.00 80.00 2.00 1.55 Mineralized episyenite
Including 83.00 90.00 7.00 1.02 Mineralized episyenite
Including 107.00 111.41 4.41 1.21 Perthitic granite
Including 139.00 142.00 3.00 0.97 Mineralized episyenite
23FP011 32.00 33.00 1.00 0.29 Mineralized episyenite
69.00 242.00 173.00 0.95 Mineralized episyenite
Including 75.00 79.00 4.00 1.16 Mineralized episyenite
Including 97.00 103.00 6.00 1.07 Mineralized episyenite
Including 99.00 101.00 2.00 2.08 Mineralized episyenite
Including 126.00 220.83 94.83 1.37 Mineralized episyenite
Including 126.00 128.00 2.00 3.56 Mineralized episyenite
Including 135.00 138.00 3.00 2.47 Mineralized episyenite
Including 153.00 161.00 8.00 1.64 Mineralized episyenite
Including 166.10 181.00 14.90 1.66 Mineralized episyenite
Including 191.00 204.00 13.00 1.46 Mineralized episyenite
Including 209.00 215.00 6.00 2.01 Mineralized episyenite
Including 239.13 241.13 2.00 1.97 Mineralized episyenite
23FP012 4.00 5.27 1.27 0.29 Mineralized episyenite
12.00 14.00 2.00 0.32 episyenite
58.00 60.00 2.00 0.27 episyenite
63.00 64.00 1.00 3.19 Mineralized episyenite
58.00 173.00 115.00 0.59 Mineralized episyenite, albite alteration
Including 83.00 84.00 1.00 2.26 Mineralized episyenite
Including 87.77 89.92 2.15 0.95 Mineralized episyenite
Including 102.16 104.00 1.84 1.06 Mineralized episyenite
Including 107.00 108.00 1.00 0.95 Mineralized episyenite
Including 110.00 111.00 1.00 1.10 Mineralized episyenite
Including 118.00 171.00 53.00 0.86 Mineralized episyenite, intermittent perthitic granite
Including 118.00 119.00 1.00 1.09 Mineralized episyenite
Including 121.00 169.00 48.00 0.91 Mineralized episyenite, intermittent perthitic granite
Including 130.00 156.00 26.00 1.08 Mineralized episyenite, intermittent perthitic granite
Including 130.00 145.00 15.00 1.24 Mineralized episyenite
Including 162.00 168.00 6.00 1.09 Mineralized episyenite
  • 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 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. Fazenda do Posto Drill Hole Coordinates

Drill Elevation Azimuth Dip Start Depth Final Depth
Hole Easting Northing (metres) (Degrees) (Degrees) (metres) (metres)
23FP001 217907 6586453 378 20 -60 0 214.1
23FP002 217858 6586480 385 20 -60 0 464.6
23FP003 217892 6586568 379 0 -90 0 332.2
23FP004 217826 6586607 387 200 -60 0 201.3
23FP005 217935 6586309 397 20 -60 0 248.2
23FP006 217932 6586677 377 200 -60 0 308.3
23FP007 217928 6586677 377 20 -60 0 161.4
23FP008 217931 6586675 382 200 -80 0 401.4
23FP009 217910 6586591 383 290 -60 0 232.9
23FP010 217910 6586581 384 110 -60 0 288.0
23FP011 217926 6586674 380 220 -60 0 280.0
23FP012 217845 6586647 386 110 -60 0 177.0

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Lavras Gold (TSXV:LGC) recently announced significant follow-up drilling results at their Fazenda do Posto discovery within the LDS Project in southern Brazil. This discovery, initially reported in August 2023, has now been further validated in terms of gold grades, widths, and continuity, with potential for resource expansion in several directions.

Lavras Gold President & CEO Michael Durose commented in a press release: “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. 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.”

The Fazenda do Posto discovery, situated about 150 meters west of the Lavras Gold Butiá Gold Deposit, shows promising proximity to the Butiá deposit, which itself holds an NI 43-101 gold resource of approximately 500,000 ounces and is open for expansion.

Drill hole 23FP006, a focal point of this announcement, was aimed at exploring the northeastern extension of Fazenda do Posto. It was positioned roughly 210 meters northeast of the initial discovery hole, 23FP002, and yielded continuous gold mineralization starting at a depth of 31 meters for a span of 230 meters. Detailed assay results have been tabulated and disclosed for this hole.

This discovery signifies a potential critical mass of gold mineralization in the area, further advancing Lavras Gold’s goal of developing a bulk tonnage open pit gold mine. Despite challenges such as record rainfalls impacting drilling site access and causing delays, the company has expedited efforts to define the new discovery’s geometry and grade distribution. To date, two drill rigs have completed over 3,000 meters of drilling across 14 holes at Fazenda do Posto.


The drilling results from Fazenda do Posto, located along the western edge of the Lavras do Sul intrusive complex and near the town of Lavras do Sul, are highly encouraging. Four drill holes totaling 1,520 meters have been completed, each yielding varied results. These include 23FP001 encountering modest gold values, 23FP002 confirming gold mineralization to a vertical depth of approximately 390 meters, and 23FP003 and 23FP004 showing significant mineralization and hydrothermal alteration respectively.

Looking ahead, Lavras Gold aims to further explore and define the Fazenda do Posto discovery and the Butiá Gold Deposit. The medium-term goal is to prepare a preliminary economic study for a potential gold mining project, supported by ongoing regional exploration within the broader 22,000-hectare LDS Project.

The overall success of the LDS exploration program has been noteworthy since Lavras Gold went public in April 2022. This includes completing a regional drone magnetic survey, ongoing soil geochemistry programs, and the reinterpretation of the Caneleira Gold Discovery. New gold mineral systems have been identified at various locations within the property, indicating a significant upside for continued exploration and development.

Highlights from the results are as follows:

  • 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.
  • 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.

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  

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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