- Los Cerros (LCL) prepares for its first round of drilling at the Kusi copper-gold deposit at the Ono project in Papua New Guinea (PNG)
- The program is planned to drill 3000 metres over 18 diamond holes and is targeting a March start date
- The primary focus of the project is to further test gold-copper oxide skarn mineralisation within an upper limestone unit established from previous work
- Concurrently, the company has begun constructing a semi-permanent field base near the Kusi village
- Shares in Los Cerros are up 12.2 per cent, trading at 4.6 cents as of 2:30 pm AEDT
Los Cerros (LCL) is preparing for its first round of drilling at the Kusi copper-gold deposit at the Ono project in Papua New Guinea (PNG).
The program is planned to drill 3000 metres over 18 diamond holes and is targeting a March start date.
The primary focus of the project is to further test copper-gold oxide skarn mineralisation within an upper limestone unit established from previous drilling, trenching and surface sampling.
Previous results include 20 metres at 2.89 grams per tonne (g/t) gold from 107 metres in a diamond drill hole and eight metres at 11.5 g/t gold, 2.6 per cent copper and 24 g/t silver in a trench sample.
Managing Director Jason Stirbinskis said the project has been a standout target with multiple copper, nickel and gold targets.
“Much of the Ono project area, of which Kusi is a part, has never been prospected or assessed with modern techniques and understanding.”
“As such, we believe the Ono project has the potential to deliver multiple compelling targets in the coming programs.”
Concurrently, the company has begun construction of a semi-permanent field base near the Kusi village.
The program is part of a larger Kusi exploration program which includes additional trenching and mapping to define the extent of the mineralised skarn horizon which occurs the upper limestone unit.
LCL intends to instil its Colombian-style ESG approach to its PNG presence with modifications sensitive to local dynamics and culture.
Shares in Los Cerros were up 12.2 per cent, trading at 4.6 cents as of 2:30 pm AEDT.