Los Cerros Limited (ASX: LCL)
Reported the results of the remainder of the initial scout diamond drilling program at Ceibal (CHDDH03-06), the Company’s new porphyry target, located less than 1km from the Tesorito Gold Porphyry discovery.
They are both part of the Company’s 100% owned Quinchia Project in Risaralda – Colombia.
|Los Cerros||ASX: LCL|
|Market cap||A$95 m @ 15 c|
Los Cerros – Ceibal confirmed as another significant gold porphyry discovery
Los Cerros Limited (ASX: LCL) (Los Cerros or the Company) is pleased to report the results of the remainder of the initial scout diamond drilling program at Ceibal (CHDDH03-06), the Company’s new porphyry target, located less than 1km from the Tesorito Gold Porphyry discovery, both of which are part of the Company’s 100% owned Quinchia Project in Risaralda – Colombia.
The six hole diamond drilling campaign was commissioned on the back of encouraging
gold, molybdenum and copper surface geochemical anomalism in an area never investigated previously but showing structural characteristics consistent with the Tesorito Gold Porphyry structural model – in particular proximity to the Marmato Fault Corridor and location at the intersection of NW trending faults.
Best intersections of the initial campaign include:
• 500m @ 0.52g/t Au from surface in CEDDH01 (previously announced)1
• 586m @ 0.51g/t Au from surface in CEDDH02 (previously announced)1
• 243.1m @ 0.49g/t Au from 87.20m in CEDDH03
▪ Drill assay results from Ceibal holes CEDDH03-06 reported wide zones of porphyry gold mineralisation. Results include (uncut):
o 243.1m @ 0.49g/t Au from 87.2m in CEDDH03
o 120m @ 0.71g/t Au from 4m in CEDDH04
o 88m @ 0.51g/t Au from 314m in CEDDH05
o 252m @ 0.41g/t Au from 530m in CEDDH06
▪ In conjunction with results from previous holes – CEDDH01 (500m @ 0.52g/t Au from surface) and CHDDH02 (586m @ 0.51g/t from surface)
▪ Drill campaign and recent magnetic survey results together point to priority areas for a second campaign of drilling
▪ IP (Induced Polarisation) program currently underway ahead of a second drilling campaign to kick off in the new year
▪ 4 rigs remain active at Quinchia Gold Project, with a 5th rig expected to commence imminently.
See announcement 8 July 2021 HERE. The Company confirms that it is not aware of any new information that affects the information contained in the announcement.
See announcement 10 November 2021 HERE. The Company confirms that it is not aware of any new information that affects the information contained in the announcement.
Los Cerros management comments
“Given what we know of Tesorito and how that discovery evolved for us, we are very excited by what the first phase of drilling has shown up at Ceibal.
“We believe the area drilled at Ceibal sits within the relatively demagnetised zone of a porphyry, a belief supported by the presence of sheeted veins in the core, which commonly occur on the periphery of porphyries.
“What we have drilled at Ceibal thus far holds many similarities to the mineralised andesites reported in many drill holes within the outer regions surrounding the Tesorito Gold Porphyry high grade zone.
“The IP underway will help us define specific drill targets within those broader areas at Ceibal.”
Los Cerros Managing Director, Jason Stirbinskis
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email firstname.lastname@example.org
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
At the time of publishing the author holds shares in Los Cerros bought in the market at the prevailing price on the day of purchase .