Lavras Gold Corp. (TSX-V: LGC) has reported substantial advancements in its exploration and development activities within Brazil's gold-rich terrains. The company's financial resilience, underscored by a cash balance of C$1.65M at the end of 2024 and a successful equity financing round raising C$15.0M, positions it favorably for expanding its mineral resources. A standout discovery, Fazenda do Posto, has unveiled significant gold mineralization, with drilling results showcasing 340 meters grading 1.1 g/t gold and a high-grade core of 59 meters grading 2.9 g/t gold at depth. Plans for 2025 include an ambitious drilling program of approximately 17,000 meters across Fazenda do Posto, Butiá, and Caneleira sites.
The Butiá Deposit, Lavras Gold's most advanced project, currently boasts measured and indicated resources of about 377,000 ounces of gold. Recent drilling activities have confirmed the continuity of mineralization, highlighted by intercepts of 236 meters grading 1.4 g/t gold. This deposit's potential for expansion, both laterally and at depth, remains a focal point for the company. Additionally, the Cerrito Deposit complements Butiá with indicated resources of 188,000 ounces and inferred resources of 293,000 ounces, presenting further opportunities for resource growth.
Under the leadership of CEO Michael Durose and Chairman Rolly Uloth, Lavras Gold is strategically transitioning from exploration to production. The company is advancing economic and metallurgical studies at Fazenda do Posto and Butiá towards a preliminary economic assessment, leveraging favorable gold market conditions. With discoveries like Zeca Souza and Vila Marieta adding to its portfolio, Lavras Gold is poised to attract joint venture partnerships and capital investments. Its disciplined approach to exploration and financial management underscores a promising future in the gold mining sector. For more information, visit https://www.lavrasgold.com.
