Los Cerros Limited (ASX: LCL) has had further drilling success at the Tesorito Gold Porphyry, a near surface gold porphyry discovery, which is part of the company’s 100% owned Quinchia Gold Project in Risaralda – Colombia.
Drill holes TS-DH52 and ’53 have again returned remarkably strong and wide gold zones for a porphyry system, further expanding the central high grade surface zone, potentially forming an economically appealing starter pit.
Results include: ▪
100m @ 1.01g/t Au from surface in TS-DH52 including 31m @ 1.72g/t Au from surface
▪ 88m @ 1.02g/t Au from surface in TS-DH53 including 26m @ 1.93g/t Au from surface. As
anticipated, the recent southern drilling campaign (holes TS-DH47 to ’50; TS-DH54 to ’55; TS-DH58 to ‘59) has effectively defined the southern margin to gold mineralisation of interest.
Drill assays reported 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.
Results of note from the southern campaign include:
▪ 18.4m @ 0.74g/t Au from 9.6m in TS-DH47 ▪ 6m @ 1.03g/t Au from surface within 70.9m @ 0.6g/t Au in TS-DH48
▪ 380m @ 0.28g/t Au from surface in TS-DH49 ▪ 138m @ 0.43g/t Au from 19.5m including 26.5m @ 0.60g/t Au from 19.5m in TS-DH55
▪ 137.2m @ 0.55g/t Au from 10m including 38m @ 0.76g/t Au from 74m in TS-DH59.
The first hole (TS-DH56) of a programme 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 cause of the IP anomaly.
This anomalous zone has not been fully tested and follow up drilling is underway to further test the anomaly.
Managing Director, Jason Stirbinskis, said the company intends to sustain the pace of investigating Tesorito and has commissioned a JORC Resource estimate for release in Q2 2022 and commenced discussions around metallurgical and mining scoping studies which will also consider synergies between Tesorito and the advanced Miraflores project such as shared mineral processing and infrastructure.
Target generation and testing will continue at pace, building on the comprehensive early work completed in 2021. Further targets will be drill tested as the multi-rig drilling programme shifts away from Tesorito step-out drilling and focusses on the search for the next ‘Tesorito’.
Currently there are three diamond drill rigs on site in continuous 24-hour operation including a rig drilling a deep geophysical central target between Tesorito and Miraflores.
A fourth rig, also with deep drilling capacity, is expected to arrive in February and will be allocated to follow up drilling at the Ceibal porphyry discovery just ~1km from, and along the same structure, as Tesorito.
A fifth rig is planned to return in late February. The fourth deep penetrating IP geophysics survey is underway this quarter and covers the Chuscal area. It is anticipated that outputs of the survey will guide the next campaign of drilling at Chuscal and surrounds.
“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,” Mr Stirbinskis said.
“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 end3 to fund the exploration programs, we look forward to a very exciting year.”
For further information please visit: https://www.loscerros.com.au/
