It was first time lucky for Lysander Gold (VSE) when the junior intersected 2.39 metres grading 19.05 grams gold per tonne in its first drill hole on the Passagem property in Brazil.
The drilling was aimed at intersecting the downdip extension of Passagem’s underground workings.
The mine has produced more than 1 million oz. gold to a vertical depth of about 330 metres.
Gold mineralization is stratabound, occurring primarily on the nose of a shallow-dipping anticline and, to a lesser extent, on its limbs. Gold is hosted in what is described as a “bedded vein” of boudinaged tourmalinite, milky quartz and dolomite.
Mine records indicate the shallow-dipping zone averaged 2 metres in thickness, varying locally from less than 1 metre up to 10 metres.
The first hole targeted the zone about 100 metres downdip from the limit of the old underground workings.
Drilling is continuing on the downdip extension, and a second rig is drill-testing the Santana and Santo Antonio gold deposits on either limb on the anticline. Lysander holds an option to acquire an 80% indirect interest in the property while Teck (TSE), in turn, holds an option to earn a 50% indirect interest from Lysander.
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