Los Cerros Limited (ASX: LCL) reports that it has encountered wide zones of ‘high-grade’ gold from surface during in-fill drilling at the Tesorito Gold Porphyry within its Quinchia Gold Project in Colombia.
Two drill holes from the program returned ‘remarkably’ strong and wide gold zones for a porphyry system, further expanding the central high-grade surface zone, and potentially forming an economically viable starter pit.
Standout intersections include:
- Hole TS-DH52: 100m @ 1.01g/t Au from surface; including
- 31m @ 1.72g/t Au from surface
- Hole TS-DH53: 88m @ 1.02g/t Au from surface; including
- 26m @ 1.93g/t Au from surface.
Commenting on the results, Los Cerros Managing Director Jason Stirbinskis said: “Los Cerros remains in a strong position to maximise benefits to our shareholders and other stakeholders in 2022 as we drive our advanced Miraflores and Tesorito discoveries and continue our pursuit of other targets.
“[WE ARE] very fortunate to hold what is arguably some of the most prospective ground on the Mid-Cauca porphyry belt of Colombia”
We are one of the most active junior gold explorers on the ASX and very fortunate to hold what is arguably some of the most prospective ground on the Mid-Cauca porphyry belt of Colombia. With $19.2 million cash at year end to fund the exploration programs, we look forward to a very exciting year.”
The in-fill drill program was tasked with testing two anomalous zones (the southern and northern Tesorito targets), and was successful in defining the southern margin to gold mineralisation of interest. Assays returned ‘extensive’ intercepts of 0.2 to 0.4g/t Au, indicative of waning influence of the high grade porphyry intrusive core as drilling moves further south, away from the core.
Meanwhile, the first hole of a program to test an IP anomaly on the northern edge of existing Tesorito drilling produced low grade mineralisation in andesite country rock before crossing the Marmato Fault at 351m, without explaining the origin of the IP anomaly. This anomalous zone has not been fully tested, and Los Cerros has indicated that follow up drilling is underway.
Moving forward, the company is undertaking further work leading up to a planned JORC Resource estimate for release in Q2 2022. This includes continuation of target generation and testing, building on the ‘comprehensive’ early work completed in 2021. Further targets are set to be drill tested as the multi-rig diamond drilling program shifts away from Tesorito step-out drilling, with a focus on the search for the next ‘Tesorito’.
A deep-penetrating IP geophysics survey has also resumed over the Chuscal area, the 4th IP program at Quinchia. It is anticipated that outputs of the survey will guide the next campaign of drilling at Chuscal and surrounds.
Images: Los Cerros Limited
