Los Cerros (ASX: LCL) drill hole adds significant weight
September 27, 2022Los Cerros Limited drilling has extended a high-grade ore shoot, widening the possibility of another deeper high-grade gold zone at the 870,000-ounce Miraflores Resource, part of its Quinchia Project in Risaralda, Colombia.
The principal ore shoot – part of the Mira Flores mineralised breccia pipe – runs below the existing resource envelopes and reports 1.7m @ 26.6g/t goldQMDH61 is the final drill hole in the current 80-hole, 37,000m drilling campaign.
The Quinchia Project is a cluster of porphyry and epithermal gold/copper targets within a 3km radius, underpinned by established Mineral Resources of 2.6Moz @ 1g/t Au.
Miraflores drill hole QMDH61 was commissioned on the back of encouraging results from two very deep holes drilled earlier in 2022-3 that suggested Miraflores’ mineralisation may extend beyond the base of the Miraflores Resource envelopes established in 2017.
QMDH61 passed through altered wall rock basalts before entering mineralised breccia at 151.6m and continued through the breccia pipe for a total of 519.1m, ending at 670.7m in hydrothermal breccia.
The breccia pipe, the host to the gold mineralisation, therefore remains open at depth and to the west (Figure 2), and beyond the previously modelled perimeter.
The Company said of significant interest is the interpreted intersection of the depth extension of the vein 880 ore shoot, the principal ore shoot within the Miraflores Resource.
This was intersected at 326.3m downhole, 70m below the Resource modelling, and reported 1.7 meters at 26.6g/t Au.
This high grade ore shoot remains open at depth.In addition, from 600m downhole, multiple occurrences of visible gold were logged (see photos) within mineralised intervals including:
- 0.4m @ 1.47g/t Au from 608.75m
- 1.4m @ 1.68g/t Au from 614m, and
“Whilst gold values in QMDH61 were mostly low grade, it is encouraging to intercept depth extensions of mineralised veins and ore shoots that are major contributors to the Miraflores Resource,” Managing Director Jason Stirbinskis said.
QMDH61 marks the final hole of an 80-hole, 37,000m diamond core drilling program at Quinchia over approximately three years.
Next steps for the company is environmental permitting and commencement of Preliminary Economic Assessment studies.
The Company’s ASX shares are 2.9c.
About Los Cerros Limited
Los Cerros Limited (LCL), incorporated in Australia, is an ASX listed exploration and mining company. In August 2019 Metminco Ltd merged with Andes Resources Limited to form Los Cerros Limited resulting in a dominant position within the Andes and Quinchia regions of the Mid-Cauca Gold Belt of Colombia. Los Cerros’ primary focus is the 100% owned, 10,500 ha Quinchia Gold Project, which has JORC compliant Reserves of 0.46Moz within a JORC compliant gold Resources of 0.84Moz at Miraflores, 1.3Moz at Tesorito and 0.46Moz Inferred Resource at Dosquebradas for a total Quinchia Resource of 2.6Moz. In addition the Quinchia Gold Project includes advanced prospects at Ceibal and Chuscal plus several other early stage prospects. The Andes Gold Project consists of a 90% interest in ~85,000ha of tenements also within the Mid-Cauca Gold Belt. Only ~10% of the expansive portfolio has been systemically explored but already delivered 12 epithermal vein type gold/silver targets and multiple gold/copper porphyry targets.
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