- Los Cerros (LCL) has identified a new gold porphyry target at its Quinchia Gold Project through the interpretation of geophysical survey data carried out at the site in Colombia
- LCL recently completed a deep penetrating IP (Induced Polarisation) survey at Quinchia, while a drone aero-magnetic survey is continuing
- Combining the initial data from the two surveys identified the believed porphyry target, with drill testing now planned to better understand the find
- Los Cerros says the discovery of the new system, along with underlying known mineralisation at Miraflores and Tesorito, could upgrade the project’s prospectivity
- Company shares are up 7.41 per cent at 14.5 cents each
Los Cerros (LCL) has identified a new gold porphyry target at its Quinchia Gold Project through the interpretation of geophysical survey data.
The company recently completed a deep penetrating IP (Induced Polarisation) survey at the site in Colombia, while a drone aero-magnetic survey is continuing.
Combining the initial drone data with the IP survey results, as well as other known information of the asset, has allowed LCL to identify the believed porphyry target.
The new target is flanked by the Miraflores and Tesorito targets within Quinchia and the company believes this new large scale central intrusion could be the causative source of both known gold mineralisation.
Los Cerros Managing Director Jason Stirbinskis said given the location of the porphyry system it could upgrade the entire project’s potential.
“We are very encouraged by the revelations of the surveys, particularly geophysical indications of what could be a substantial gold porphyry system underlying known mineralisation at Miraflores and Tesorito with potential to dramatically change project prospectivity,” Mr Stirbinskis said.
LCL has assigned two drill rigs to test the new target, and is planning an additional 3.3 square kilometre IP survey program for later this year.
Shares in Los Cerros were up 7.41 per cent to 14.5 cents at market open on Tuesday.