Los Cerros (ASX:LCL) reports that it has intersected gold mineralisation from the first diamond hole at the Kusi Prospect within its Ono Project in Papua New Guinea.
The company reports hole KU23DD001 intersected 15.2m @ 4.45g/t Au from 138.2m, within a broader interval of 76.4m @ 1.34g/t Au from 106.9m.
Additionally, Los Cerros notes that this result provides proof of concept that the upper limestone skarn mineralisation is continuous and potentially widespread.
“The first drillhole is considered a strong success”
Speaking on the result, Los Cerros Managing Director, Jason Stirbinskis said: “The first drillhole is considered a strong success and has given us added comfort that the Kusi Upper Limestone skarn mineralisation is a worthy target capable of delivering large tonnage and grade.
Our 3,000m drilling program remains on schedule and on budget, with the next drill result release expected in the second half of May.”
The new intersection is centrally located between historical drill intersections, including hole KSDD004 with 20m @ 2.89g/t Au; and hole KSD007 with 35m @ 3.04g/t Au.
Additionally, 4 data points now define a 300m zone of mineralised Upper Limestone skarn from Los Cerros’ Trench 1 in the south through to KSDD004, KU23DD001, and then KSDD007 to the north.
The company’s second and third drillholes, KU23DD002 and KU23DD003, were drilled east and south from the same pad as KU23DD001 and are completed.
Both drillholes intersected broad zones of Upper Limestone skarn mineralisation at target depths. Additionally, Los Cerros states assays are pending.
Los Cerros also reports that trenching and regional mapping at Kusi prospect is ongoing and continues to support the concept that Upper Limestone skarn mineralisation extends well beyond the limits being tested by the 2023 drill program as currently designed.
The Kusi prospect is part of the Ono Project and is prospective for ‘high-grade’ gold skarn and copper-gold porphyry. The prospect sits on the same structure as the Hidden Valley Gold Mine and the Wafi-Golpu Copper-Gold Project.
Los Cerros is an ASX-listed exploration and mining company, which holds about 3,890km-square of exploration titles in 5 regions of Papua New Guinea, prospective for copper, gold, and nickel.
Images: Los Cerros Ltd
