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- Los Cerros (LCL) has started drilling at the recently discovered Ceibal target, which sits within its wholly owned Quinchia Gold Project in Colombia
- Ceibal was defined in late March as part of a “prospect generation program,” which sought early-stage targets to add to the company’s existing pipeline
- A diamond drill rig has been moved from the Chuscal target to Ceibal, and work has already begun on the first of several scout holes
- Ceibal bears many similarities to the promising Tesorito prospect and also sits within the Marmato Fault Corridor
- Shares in Los Cerros finished trading yesterday at $0.18 each
Los Cerros (LCL) has started drilling at the recently discovered Ceibal target, which sits within its wholly owned Quinchia Gold Project in Colombia.
Located roughly one kilometre southwest of Tesorito, Ceibal was defined in late March as part of a “prospect generation program,” which sought early-stage targets to add to the company’s existing pipeline.
Based on initial trenching work across the area, significant surface gold was discovered in three channels — 90 metres at 1.4 grams per tonne, 75 metres at 1.2 grams per tonne, and 25 metres at 1.2 grams per tonne of gold.
According to this morning’s announcement, a diamond drill rig has been moved from the Chuscal target — approximately 1.5 kilometres to the southeast — to Ceibal, and work has already begun on the first of several scout holes.
“We are particularly excited about this new target as it has the surface fingerprint of classic porphyry occurrences,” said Jason Stirbinskis, Managing Director of Los Cerros.
“So we have directed the Chuscal rig to Ceibal to start the process of understanding this compelling target.”
Bearing many similarities to the Tesorito target, Ceibal hosts an 800-metre-by-600-metre gold, copper and molybdenum anomaly within the Marmato Fault Corridor.
Early last week, Los Cerros released the results of another three drill holes from ongoing work at Tesorito, which indicated significant widths of both lower and higher-grade gold.
These results included 232.35 metres at 1.15 grams per tonne of gold, and prompted another series of step out holes to define the limits of near surface mineralisation.
“The emergence of Ceibal and Tesorito West, the new deep intercept encountered while drilling south-west and below the Tesorito South porphyry, is further argument that the Quinchia Gold Project is another significant hot spot on the mid-Cauca gold belt which already hosts many multi-million-ounce discoveries,” Stirbinskis continued.
Shares in Los Cerros finished trading yesterday at $0.18 each.
