Los Cerros (ASX:LCL) reports that it has successfully extended a ‘high-grade’ ore shoot following completion of a recent drilling campaign at its 100% owned Quinchia Project in Risaralda, Colombia.
The results, generated by the final drillhole (QMDH61) of an 80 hole, 37,000m drilling campaign, confirm that mineralisation extends at depth and supports the potential that another deeper ‘high-grade’ gold zone exists beyond the base of the Miraflores Resource.
Intersection of the depth extension of the vein 880 ore shoot, which represents the principal ore shoot within the Miraflores Resource, has returned 1.7m @ 26.6g/t Au from 326.3m downhole and further supports the potential existence of the deeper ‘high-grade’ zone.
Speaking on the results, Los Cerros Managing Director, Jason Stirbinskis, said: “Whilst gold values in QMDH61 were mostly low grade, it is encouraging to intercept depth extensions of mineralised veins and ore shoots that are major contributors to the Miraflores Resource.
“Whilst gold values in qmdh61 were mostly low grade, it is encouraging to intercept depth extensions of mineralised veins and ore shoots that are major contributors to the miraflores resource”
The possibility of another boiling zone, like the zone in which much of the Miraflores high grade occurs, has the potential to significantly enhance the Miraflores Resource and warrants further investigation.”
The company also notes that the vein 880 ore shoot remains open at depth, with multiple additional occurrences of visible gold being logged, including 0.4m @ 1.47g/t Au from 608.75m and 1.4m @ 1.68g/t Au from 614m.
In addition, the recently completed drilling at Quinchia has also delivered a maiden Inferred Mineral Resource Estimate (MRE) for the Tesorito deposit, bringing the total Quinchia Resource to 2.6Moz, as well as many additional targets for ongoing investigation.
The Quinchia project is located about 100km south of Medellin in Colombia’s Mid-Cauca Gold Belt, which is host to many multi-million ounce discoveries and covers a total landholding of 10,500 hectares, with Los Cerros owning 100% of all associated tenements. The project currently boasts a total MRE of 2.6Moz and contains ‘significant’ exploration targets including Chuscal and Ceibal.
With the recent drilling campaign now complete, Los Cerros announces that it will transition to environmental permitting and commencement of Preliminary Economic Assessment studies.
Images: Los Cerros Ltd
