LCL secures final development approval for Miraflores deposit

LCL Resources (ASX:LCL) has been granted a forest use permit, which is the final approval needed for developing the Miraflores deposit, within the 2.6-million-ounce Quinchia Gold Project in Colombia. 

The company says the award of the environmental licence and recent corporate activities involving other Colombian-focused gold miners and explorers, indicates a favourable environment for Colombian investment. 

LCL, which has a market capitalisation of $11.46 million, is in early stage discussions with several companies seeking advanced copper-gold projects with exploration upside, such as Quinchia. 

The company is also conducting a review of targets with resource upside. 

During 2022, global mining consultancy Ausenco investigated production options for the Quinchia project. Ausenco considered mining sequences, plant size and costs, open pit and underground permutations, and other variables for the project. 

The Ceibal gold-copper exploration target, which lies within a 3km radius of Quinchia, was not considered in the study. Yet, the target has been identified as “promising” for a more detailed review with potential to add further resources that can be integrated into various production options. 

LCL says an 800m by 600m surface gold-copper-molybdenum geochemical anomaly was uncovered at Ceibal, which is broadly comparable to the surface anomaly at the Tesorito deposit. The company is continuing to refine Ceibal. 

The Quinchia project is a cluster of porphyry and epithermal gold-copper targets, comprising three deposits – Tesorito, Miraflores, and Dosquebradas. 

LCL Resources is a diversified explorer with projects in Colombia and Papua New Guinea that are considered prospective for copper, gold, and nickel.

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Images: LCL Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.