“People buy on the rumour and sell on the news now in this market – I think it’s just a factor of the market,” Naomi Nemeth, vice-president for investor relations, told The Northern Miner by telephone.
Lavras announced on Thursday that hole 23FP011 at FDP returned an average grade of 1 gram gold per tonne over 173 metres, starting from a depth of 69 metres. This section included 1.4 grams gold over 94.8 metres. Similarly, hole 23FP008 showed 1.1 grams gold over 123 metres, indicating the presence of a large, near-surface, bulk-tonnage gold system, the company said in a release.
The FDP discovery has now been traced over a 200 metres strike and lies 150 metres west of the Butiá deposit, which already hosts a measured and indicated resource of 12.9 million tonnes at 0.97 gram gold per tonne for 376,751 oz. of metal.
The company says the proximity of these two sites raises the potential for a combined open-pit development…
