Lavras Gold Intersects High-Grade Gold at Caneleira, Supporting Near-Surface Continuity of the Vein System
Lavras confirms near-surface Caneleira continuity without exceeding prior anchor grades or widths.
Lavras Gold Corp. (LGC) has released the final 2026 drilling results from the Caneleira Mining Concession within its Lavras do Sul Project in southern Brazil. The data encompasses 23 holes at Caneleira and five at Caneleira East, with assays for six additional Caneleira holes still pending. For the first time, the company also disclosed hole-by-hole results for 15 Caneleira East holes drilled between 2024 and 2025.
The headline intercept came from hole 26CN044, which returned 24.30 g/t Au over 9m from 87m, including a high-grade interval of 99.56 g/t Au over 0.85m. Near-surface highlights at Caneleira included hole 26CN051, which returned 9.31 g/t Au over 4m from 10m, and hole 26CN040, which returned 4.63 g/t Au over 15.46m from 71m, including 21.80 g/t Au over 3m.
At Caneleira East, notable intercepts included hole 26CNO022 with 2.51 g/t Au over 22m from 78m, hole 26CNO024 with 1.87 g/t Au over 18m from 49m, and hole 26CNO021 with 3.10 g/t Au over 13m from 51m. The company noted that the cutoff grade is 0.25 g/t Au and that the reported intervals represent drilled widths only, with true widths not yet determined.
Lavras Gold stated that the campaign met its objective of confirming near-surface continuity. The company plans to release an initial Caneleira mineral resource estimate, along with updates for the Fazenda-Butia, Cerrito, and Matilde areas.
Lavras Gold Corp. (LGC) is a pre-revenue exploration company with no mine and no Caneleira mineral resource. Existing resources are located at Butia and Cerrito, not Caneleira. The latest drilling supports a future initial Caneleira resource estimate but does not, by itself, add tonnes or reserves.
The news serves as confirmation of previously announced Caneleira veins and Caneleira East up-dip potential, rather than representing a new discovery or district-opening intercept. Against the market's revealed expectation, the stock had already rallied from about C$2.09 on August 6 to C$3.19 on August 21, a roughly 52% pre-release move.
The best new Caneleira intercept is slightly below the May 19, 2026 anchor on gram-metres and materially below the February 24, 2026 anchor. The shallow 9.31 g/t over 4m hole is genuinely new information and relevant to potential open-pit economics, but it is a narrow interval with true width still unknown.
Lavras Gold Corp. is a Canadian exploration company listed on the TSXV that holds a district-scale land package in southern Brazil. The Lavras do Sul Project covers approximately 20,300-21,500 hectares and contains multiple gold prospects and historic workings.
Existing NI 43-101 resources include Butia with 377,000 ounces Measured & Indicated at 0.91 g/t Au plus 115,000 ounces Inferred at 0.97 g/t Au. Cerrito contains 188,000 ounces Indicated at 0.70 g/t Au and 293,000 ounces Inferred at 0.69 g/t Au. The Caneleira and Caneleira East targets are not yet in a mineral resource estimate. The company also holds a royalty interest on Hochschild's Mara Rosa exploration properties.
Financial position as of June 30, 2026: - Cash: C$6,558,835 - Total assets: C$45,381,006 - Total liabilities: C$1,106,850 - Total equity: C$44,274,156
The company reported no revenue and no production, with operating cash flow in H1 2026 at negative C$1,391,636. Lavras Gold raised C$10 million gross via a bought deal in January 2026 at C$3.40 per share. Book value per share was approximately C$0.71 as of June 30, 2026.