- Los Cerros (LCL) reveals encouraging findings from drilling within its Quinchia gold project in Columbia
- The first drill hole at the Central target intersected ‘Miraflores-style’ breccias 500 metres below historical drilling limits and a follow-up hole is currently underway
- Los Cerros says it’s encouraging the initial hole has shown the Miraflores breccia pipe forms part of a larger hydrothermal system with potential connections to Tesorito
- The company is also undertaking drilling at the recently identified Claras target and follow-up drilling at the Ceibal target
- Company shares were down 10.2 per cent, trading at 7.9 cents
Los Cerros (LCL) has provided an update on exploration activities at its Quinchia gold project in Columbia.
The company is undertaking drilling at the Central target to test a geophysical anomaly between the gold resources at Tesorito and Miraflores.
Notably, the first drill hole (TS-DH57) has shown ‘Miraflores-style’ breccias lateral to, and deeper than, the existing Miraflores breccia resource.
The Miraflores breccia pipe hosts the Miraflores 877,000-ounce resource which includes the 457,000-ounce Miraflores Reserve.
TS-DH57 intersected Miraflores type breccias 500 metres below the deepest historical Miraflores drilling and remains open at depth. LCL said intersecting Miraflores-type units so far beyond historical drilling limits is highly encouraging.
The hole also intersected 455 metres of mineralised ISS veining, breccias, other hydrothermal characteristics and visible gold from 750 metres downhole.
Los Cerros is currently drilling a follow-up hole to test for extensions of the Miraflores breccia pipe and to further test the ISS and hydrothermal zones lateral to the Miraflores breccia pipe.
“Our first drill hole at the Central target has revealed that the Miraflores breccia pipe forms part of a larger multi-pulse hydrothermal system with connections to Tesorito yet to be revealed,” Managing Director Jason Stirbinskis said.
“There remains potential for discovery of a substantial gold porphyry system underlying known mineralisation at both Miraflores and Tesorito, however our immediate focus will be drilling for depth extensions to the Miraflores ore body,” Mr Stirbinskis added.
Additionally, drilling at the recently identified Claras target has indicated there may be another porphyry body along the Marmato Fault Corridor. The Claras Target is a magnetic high geophysical anomaly and is located one kilometre north of the Tesorito prospect.
Over at the Ceibal target, Los Cerros is conducting a follow-up drilling program to test for the porphyry source responsible for the extensive mineralised zones drilled last year. So far, one hole has been completed with the second and third expected to be completed this month.
Los Cerros is progressing its 2022 exploration program, covering multiple targets across the Quinchia project, with five diamond drill rigs in operation.
Company shares were down 10.2 per cent, trading at 7.9 cents at 10:31 am AEST.