Lavras Gold Corp. (TSXV: LGC) has met its first 2022 short-term objective. The Cerrito Gold Project at its LDS Project in Brazil has completed an NI 43-101 compliant mineral resource assessment. Cerrito has an indicated gold resource of 187,650 ounces and an inferred gold resource of 293,468 ounces, according to the report.
“By combining this gold resource estimate for the Cerrito Gold Prospect with the 500,000 ounces from our Butiá Gold Prospect, we’ve reached our first million ounce milestone at LDS,” stated Michael Durose, President and Chief Executive Officer. “This is a significant step in realizing LDS’s potential gold mineral endowment, which we have barely begun to comprehend.” We anticipate announcing the results of active drilling at the Zeca Souza, Matilde, and Matilde Extension prospects in the near future.”
NI 43-101 MINERAL RESOURCE ESTIMATE FOR CERRITO GOLD PROSPECT
Uncapped
Capped
Class
Type
Tonnes
Gold (g/t)
Gold (oz)
Gold (g/t)
Gold (oz)
Indicated
Saprolite
474,461
0.87
13,327
0.78
11,858
Hard rock
7,774,763
0.78
195,759
0.70
175,792
Inferred
Saprolite
286,235
0.80
7,338
0.66
6,094
Hard rock
12,871,242
0.76
314,329
0.69
287,374
Notes
Mineral resources are not mineral reserves, and their economic viability has not been proven. There is no guarantee that all or even a portion of the anticipated mineral resources will be converted to mineral reserves.
A gold cut-off grade of 0.3 grams per tonne (g/t) is assumed.
For the capped resource estimate, high quality samples were capped at a grade of 3.07 g/t. – Numbers may not add due to rounding. – The competent person for the resource estimate is Dr. Volodymyr Myadzel of VMG Consultoria e Soluçes Ltda.
The full report, NI 43-101 Technical Report for the Cerrito Gold Prospect, Rio Grande do Sul, Brazil, should be read in connection with this estimate. Volodymyr Myadzel, MAIG, and Frank Richard Baker, MIMMM, MAusIMM, produced the report, which is dated and effective May 31, 2022. Within 45 days, it will be filed under the company’s profile on www.sedar.com.
