Los Cerros strikes best-ever gold intercept at Kusi target, Papua New Guinea 

Los Cerros (ASX:LCL) has reported the best gold intercept to date at the Kusi target within its wholly owned Ono Project in Papua New Guinea. 

The hit comes on the back of additional diamond drilling (DD) results from the area.

The latest batch of results from Kusi, generated by 3 new diamond holes, returned ‘spectacular’ intercepts from drillhole KS23DD004 which, combined with visual results from KS23DD005, warrant a re-assessment of the potential of the Kusi Upper Limestone skarn mineralisation.

At market close on 18 May, Los Cerros’ share price had increased by 25% to $0.04.

Los Cerros says the drill results received to date have exceeded grade expectations and have also provided the company with valuable information about the gold distribution and continuity in the region. The results are also noted to have confirmed the evolving geological model, where observations to date suggest a ‘higher-grade’ gold zone emerging to the north. 

Key results include hole KU23DD004, with 52m @ 3.65g/t Au from 164m, including 6.68m @ 10.91g/t Au from 171.75m and 7.5m @ 14.87g/t Au from 191.7m; and hole KU23DD003, with 7.3m @ 2.25g/t Au from 160.7m and 11m @ 4.36g/t Au from 182m. 

The company also notes drillhole KU23DD005, which represents the first scout hole beyond the area of historic drilling, confirms visual mineralisation continuity and the ‘significant’ exploration potential of the Upper Limestone target. 

With results from the 3 latest drillholes now received, Los Cerros announces drilling is ongoing as part of a 3,000m program at Kusi and that the drill rig has been relocated 165m to the north. 

Speaking on the results, Los Cerros Managing Director Jason Stirbinskis says: “We are very pleased with the results. We are only 5 holes into a roughly 18-hole program, so we have much more to learn and discover, but this has been a great start.”

We are only 5 holes into a roughly 18-hole program, so we have much more to learn and discover, but this has been a great start”

Los Cerros is an ASX-listed active explorer currently working on multiple targets prospective for gold, copper, and nickel in Papua New Guinea. The company’s Kusi target is part of its Ono Project and is considered prospective for ‘high-grade’ gold skarn and copper/gold porphyry. 

Write to Adam Drought at Mining.com.au

Images: Los Cerros Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.