Los Cerros Limited (ASX: LCL) has continued its drilling success at Tesorito South, a near surface gold porphyry discovery, which is part of the company’s 100% owned Quinchia Gold Project in Risaralda – Colombia.
Recent results are part of a large, systematic programme to define the boundaries of the northern, eastern and southern envelopes of gold mineralisation which has already delivered multiple spectacular gold intercepts from surface.
These latest results have continued to demonstrate a further expansion of the high-grade shallow gold zone at Tesorito South.
Drillholes TS-DH29 and TS-DH30 were drilled from the pad previously used to drill holes TS-DH24 to ’26 in order to continue the radiating drill pattern investigation of surface high grade gold reported in TS-DH24 to ’26 and the eastern boundary of the mineralised porphyry. Pleasingly, both new holes did confirm extensions of the shallow high grade zone to the east and south respectively, including:
- Drill hole TS-DH29: 107.6m @ 1.1g/t Au from surface (uncut) including: 3.4m @ 2.51g/t Au from 2.6m including 14m @ 3.45/t Au from 4m
- Drill hole TS-DH30: 144m @ 1.2g/t Au from 6m (uncut) including: 27.7m @ 1.94g/t Au from 6m and 18.8m @ 1.88g/t Au from 92m
The easterly azimuth of TS-DH29 meant it was drilled toward and perpendicular to the Marmato Fault which it crossed at 108m. TS-DH30 crossed the Marmato Fault at 169m and expanded gold envelopes in this area further eastward.
Drill hole TS-DH28 was a step out of approximately 100m to the north of the area of earlier focus. After passing a previously encountered, lower grade intermineral diorite pulse from surface to 137m, drilling then encountered the targeted early diorite and delivered a very wide intercept (uncut) of 280m @ 0.83g/t gold starting from 148m including:116m @ 1.17g/t Au from 148m including:
- 12m @ 2.11g/t Au from 186m; and
- 32m @ 1.3 g/t Au from 228m, including 1m @ 9.0 g/t Au at241.1m
Managing Director, Jason Stirbinskis, said the drill hole recorded a deeper intercept of 13.2m @ 1.53g/t Au from 352m within the broader 280m intercept before crossing the secondary fault at ~500m depth as expected and was terminated north of the ‘Tesorito West’ area of interest.
Lithology from ~500m to EOH at 604m consisted of andesites commonly grading between 0.1g/t and 0.5g/t gold and displaying porphyry associated alteration and veining to suggest its proximity to a causative porphyry – potentially the Tesorito West target.
We continue to be encouraged by strong results from our Tesorito drill campaign, particularly the high grade surface results in TS-DH29 and ’30 which add to the potential volumes of 2-3g/t gold extending from surface- which is always going be a positive when we ultimately consider mining economics,” Mr Stirbinskis added.
Drone-based regional magnetic survey and deep IP (Induced Polarisation) geophysical programmes over the Tesorito-Miraflores area are complete and currently being assimilated into geology and drill targeting models.
This will provide valuable input for subsequent step out drilling at Tesorito and drilling the broader, highly prospective region between Miraflores and Tesorito, which includes the TesoritoWest target.
The Company has four drill rigs currently drilling at TesoritoSouth with three rigs pursuing extensions to the north of the established zones of interest. The fourth rig has commenced testing southern extensions which remains open on a wide front.
With over $23 million in cash reserves, the company has multiple streams of exploration activity advancing the project pipeline.
The company anticipates the quarter ahead will see continuous operation of four rigs at several sites, additional IP surveys, an expanded drone magnetic survey at Quinchia and ongoing field sampling and mapping of new target areas.
