Northwire Canada EditionMonday, September 14, 2026
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GOLD 4408.90 +0.0% SILVER 65.19 +0.4% COPPER 6.55 +0.0% OIL 100.05 −2.4% PALLADIUM 1323.90 +2.3% PGZ 0.170 +3.0% TMQ 4.55 −1.3% SLI 3.08 −1.0% ROX 0.050 −9.1% USHA 0.045 +0.0% ALGR 0.710 +2.9% MINE 0.120 −4.0% KC 0.330 +4.8% EMO 0.335 +0.0% CCM 0.700 +4.5% MAI 5.97 −0.7% PPM 0.015 +0.0% CRE 0.370 +10.4% MNO 1.87 +0.5% FEO 0.810 +3.9% LBNK 0.680 −4.2% GOLD 4408.90 +0.0% SILVER 65.19 +0.4% COPPER 6.55 +0.0% OIL 100.05 −2.4% PALLADIUM 1323.90 +2.3% PGZ 0.170 +3.0% TMQ 4.55 −1.3% SLI 3.08 −1.0% ROX 0.050 −9.1% USHA 0.045 +0.0% ALGR 0.710 +2.9% MINE 0.120 −4.0% KC 0.330 +4.8% EMO 0.335 +0.0% CCM 0.700 +4.5% MAI 5.97 −0.7% PPM 0.015 +0.0% CRE 0.370 +10.4% MNO 1.87 +0.5% FEO 0.810 +3.9% LBNK 0.680 −4.2%
Drill Results

Lavras Gold Approves Accelerated Drill Program on Expanded Caneleira Target; and Announces Completion of EIA Field Studies, Ahead of Preliminary License Permit Application

No new assays; Caneleira consolidation is interpretation, not drill proof

By The Northwire Desk — AI Analysis Sep 14, 2026 · 07:01 LGC · 3.42 Lavras Gold Corp.
Executive Summary
  • Lavras Gold has approved a ~25,000 m diamond drilling program at the consolidated Caneleira target, to run over the next six to eight months.
  • The program objectives are footprint expansion, Inferred resource delineation, conversion of shallow open-pit material to Measured/Indicated, and grade focus for early feed to Fazenda-Butia.
  • No new assay results are reported in this release. It recycles the August 24, 2026 holes: 26CN044 (24.30 g/t Au over 9 m, incl. 99.56 g/t over 0.85 m) and 26CN051 (9.31 g/t Au over 4 m).
  • Caneleira has been reframed as one consolidated target combining Caneleira Central, Caneleira East/Olaria, and earlier-stage west/north areas.
  • EIA field studies are complete, with a Preliminary License application expected by December 2026 and now including Caneleira.
  • Metallurgical test work on Caneleira is planned to assess gravity-recoverable gold; no results are available yet.
  • Consolidated resource update is now expected by end of Q1 2027, including initial Caneleira and Matilde resources plus updated Fazenda-Butia and Cerrito estimates.
Material Impact
  • Lavras is an advanced-exploration/development-stage junior with existing resources: Butia 377 koz M&I plus 115 koz Inferred; Cerrito 188 koz Indicated plus 293 koz Inferred. Market cap is roughly C$213 million.
  • The market has already re-rated on the August 24 Caneleira assays. Shares rose from about C$2.09 on August 6 to C$3.85 on August 25, before drifting to C$3.42. The anchor result is embedded in the price.
  • This release mainly confirms previously guided work: the 25,000 m program and EIA completion were already previewed in the June 2026 MD&A.
  • The incremental new element is the “single consolidated Caneleira target” interpretation. That could matter later if step-out drilling confirms it, but it does not add tonnage or grade today.
  • There is also a quiet timeline change: the consolidated resource update slips from the previously guided Q3 2026 to end of Q1 2027, though scope has expanded to include Caneleira and Matilde.
  • Expected share-price reaction: likely modest positive or flat, not a 15%+ move. This matches Routine - Positive, not Material.
LGC · Price
Company Overview
  • Lavras Gold Corp. is a Canada-listed gold explorer/developer focused on the Lavras do Sul Project in Rio Grande do Sul, Brazil.
  • Land package of approximately 20,300 hectares; intrusive-hosted alkaline-affinity gold system with more than 24 prospects.
  • Existing NI 43-101 resources:
  • Butia: 12.9 Mt @ 0.91 g/t Au for 377 koz M&I; 3.7 Mt @ 0.97 g/t Au for 115 koz Inferred.
  • Cerrito: 8.3 Mt @ 0.70 g/t Au for 188 koz Indicated; 13.2 Mt @ 0.69 g/t Au for 293 koz Inferred.
  • Cut-off grade 0.30 g/t Au; no reserves.
  • Caneleira and Matilde are pre-resource targets; Caneleira now consolidates Central, East/Olaria, and west/north areas. The company also holds a 2% NSR royalty on Hochschild’s Mara Rosa regional exploration.
  • Financial position: pre-revenue; cash C$6.6 million at June 30, 2026; H1 2026 net loss C$2.68 million; no debt; funded by equity, including a C$10 million bought deal in January 2026.
Read the original news release →

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Aug 24, 2026 · 07:01

Lavras confirms near-surface Caneleira continuity without exceeding prior anchor grades or widths.

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High-grade visible gold at Caneleira validates district-scale potential as Lavras transitions from exploration to engineering

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