- Los Cerros (LCL) discovers extensive gold mineralisation at the recently discovered Ceibal target which is part of the Quinchia Project in Colombia
- LCL has received results from the first two drill holes which have both intersected over 500 metres of gold at around 0.5 grams per tonne (g/t)
- Within these intersections are slightly higher grades which peaked at 1.5g/t in the first hole and 1.7g/t in the second
- Los Cerros believes these assays validate Ceibal as a promising porphyry target with elevated gold and porphyry signature pathfinder elements
- Company shares are down 7.69 per cent and trading at 18 cents at 10:08 am AEST
Los Cerros (LCL) has received results from two holes drilled at the Ceibal porphyry target which is part of its Quinchia Project in Colombia.
Los Cerros began drilling the target in April this year after it was discovered in March through a prospect generation program.
Ceibal hosts an 800-by-600-metre gold, copper and molybdenum anomaly within the prospective Marmato Fault Corridor. According to the miner, the new target also displays similarities to the promising Tesorito prospect which is part of the wholly owned Quinchia Project.
The first hole intersected 500 metres at 0.52 grams of gold per tonne (g/t) from surface including 72 metres at 0.78g/t gold, in turn including 24 metres at 0.95g/t gold from 42 metres, and four metres at 1.5g/t gold from 368 metres.
The second hole was drilled around 100 metres northeast from the maiden drill hole and intersected 586 metres at 0.51g/t gold from surface including 52 metres at 0.81g/t gold from 176 metres and 14.1 metres at 1.02g/t gold from 572.5 metres to end of hole.
Managing Director, Jason Stirbinskis, was pleased with these drill results.
“This is a very encouraging and informative start to drilling a new target area which, until early this year, was a nameless site of a few anomalous surface geochemical samples in our extensive early-stage, project generation portfolio,” Mr Stirbinskis said.
“Because the entire length of both Ceibal holes are mineralised and rich with porphyry signatures we believe the extensive surface geochemistry anomalism, like the comparable Tesorito surface geochemical anomaly, has a causative porphyry as its origin.”
Essentially, the assays have validated Ceibal as a promising porphyry target with elevated gold and porphyry signature pathfinder elements. They also further indicate the Marmato Fault Corridor as being a highly prospective region for gold porphyry systems.
Company shares were down 7.69 per cent and trading at 18 cents at 10:08 am AEST.