ASX-listed exploration and mining company Los Cerros (ASX:LCL) has taken its first step in its search for a porphyry mineralised system at its recently acquired Kusi copper/gold prospect, as part of its Ono Project in Papua New Guinea (PNG).
The company has engaged Quest Exploration Drilling to undertake a maiden drilling program to further test gold/copper oxide skarn mineralisation within an upper limestone unit established from previous drilling, trenching, and surface sampling.
The drilling campaign will comprise 18 drillholes for more than 3,000m of drilling and is expected to begin in Q1 2023.
Speaking to Mining.com.au, Chief Executive Officer (CEO) and Managing Director Jason Stirbinskis says this maiden drilling is part one of a journey towards uncovering the centre of the Ono project’s mineralisation. The skarn layer has potential to be much larger than previously anticipated, he adds.
Stirbinskis told this news service the company’s exploration activities are supported by results generated by a previous exploration company.
“Part one, defining this skarn layer and just how big this sub-region is that’s been defined by trenching and drilling, this is the main focus and the one we know a fair bit about. But that skarn layer potentially extends for 5,6,7,8 times further than what we have tested with trenching and drilling so far…8 times bigger potentially.
Part two is scout exploration…does it just keep on going and going? Is this small section that we are excited about just a portion of something that is much more ‘significant’?
“Part one, defining this skarn layer and just how big this sub-region is that’s been defined by trenching and drilling, this is the main focus and the one we know a fair bit about”
All of this mineralisation and gold we see from the trenching and the drilling within this whole complex is all driven by a porphyry centre somewhere. The 3rd part is where is that?
The localised results we have, 10m at 2.39g/t Au, 20m at 2.89g/t Au and 35m at 3.04g/t Au and the trenching that we did in the area is what is exciting. Seeing this mineralisation close to the surface, on the surface, 100m as you go into the mountain, and the really good grade material….that’s what gets us excited…this is what motivates us.”
The drilling program is part of a larger Kusi exploration program that is inclusive of additional trenching and mapping in order to define the extent of the mineralised skarn horizon that occurs within the upper limestone unit, and which has a modelled total area of about 3km x 1.5km.
Stirbinskis says the company believes it is located in the right area to potentially discover the porphyry centre.
“They [previous explorers] drilled through the skarn to find the porphyry and as you get into the deeper sections of those drillholes you see porphyry style mineralisation in these dykes, which tells us that somewhere nearby is the mass from which these dykes are radiating. That, plus elevated levels of copper and various other signatures of porphyrys in those drillholes tells us the porphyry is nearby acting as the engine and driving this whole system.
“porphyry is nearby acting as the engine and driving this whole system.”
What I do find quite interesting is there is another skarn layer deep in the valley that has elevated silver, lead and zinc, which is a signature that you are on the edge of the intrusive porphyry body itself. Going down in the valley and seeing that is quite interesting.”
The CEO says the company is also focusing its efforts on exploring its Veri Veri prospect, as part of its Liamu Project in the Papuan Ultramafic Belt, following the return of rock samples which graded up to 45.8% nickel (Ni).
“The Veri Veri prospect is truly unique and we are exploring there this quarter as well. That project has delivered rock samples on the surface of the creek that are grading frequently 10-15% nickel, some are in the 20s and another returned 45.8% Nickel…now that is incredibly high nickel grades.
“The Veri Veri prospect is truly unique…”
Half a percent of nickel is exciting and here we are getting +30% nickel…it is absolutely spectacular and we will be active there in the first quarter.”
As of 2:35pm AWST Los Cerros’ share price had increased 12.195%.
Los Cerros is an ASX-listed exploration and mining company that is focused on the discovery of gold and copper deposits in Colombia and Papua New Guinea. The company’s Ono project is located in Papua New Guinea and comprises a total land area of 1,630km-square across granted, contiguous exploration licences over an intrusive complex considered prospective for gold/copper in skarns and porphyry plus epithermal gold/silver mineralisation.
Images: Los Cerros Ltd
