Lavras Gold Approves Fourth Diamond Drill Rig to Fast-Track Cerrito North Drill Testing; Fazenda-Butia LP Application Remains on Track
Lavras adds a fourth rig to accelerate Cerrito North testing while maintaining its established permitting timeline.
Lavras Gold Corp. has approved a fourth diamond drill rig to begin initial testing of the Cerrito North target at its Lavras do Sul (LDS) Project in Brazil. The drilling program will consist of 2,000 meters across 22 holes, with three rigs continuing at Caneleira and one dedicated to Cerrito North. Cerrito North is located approximately 2km north-northwest of the Cerrito deposit on the northern continuation of the Caneleira trend.
Geochemical data defines a 1.6km gold-in-soil anomaly with samples returning up to 6.52 g/t Au, justifying the accelerated drilling. The company received a two-year extension from FEPAM for the Fazenda-Butia Environmental Impact License (LP) Terms of Reference, keeping the LP application submission on track for December 2026. This announcement follows a series of exploration updates, including the definition of a district-scale 10km gold-in-soil corridor on October 13, the consolidation of the Caneleira target on September 14, and high-grade drilling results at Caneleira on August 24.
Lavras Gold Corp. (LGC) has approved a fourth drill rig, an execution step within its previously announced ~25,000-meter 2026 exploration plan. This move accelerates the pace of testing but does not introduce new financial metrics or strategic pivots.
Additionally, the company confirmed the Fazenda-Butia LP extension, a standard regulatory milestone that demonstrates good standing with FEPAM and maintains the December 2026 submission target. The news aligns with management's stated 2026 priorities and validates the geological model.
Lavras Gold Corp. is an advanced-stage gold exploration and development company focused on the 21,489-hectare Lavras do Sul (LDS) Project in Rio Grande do Sul, Brazil. The company’s flagship asset is the Butiá-Fazenda do Posto (FdP) development project, which is advancing toward a Preliminary Economic Assessment (PEA) and Preliminary License (LP) submission.
Existing Mineral Resources, reported under NI 43-101 standards with a 0.30 g/t Au cutoff, include the following:
- Butiá: 12.9M tonnes @ 0.91 g/t Au (377,000 oz) Measured & Indicated; 3.7M tonnes @ 0.97 g/t Au (115,000 oz) Inferred.
- Cerrito: 8.3M tonnes @ 0.70 g/t Au (188,000 oz) Indicated; 13.2M tonnes @ 0.69 g/t Au (293,000 oz) Inferred.
The company is transitioning from advanced exploration to development, with engineering studies led by Ausenco and GE21, and metallurgical testing underway.