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Los Cerros begins drilling newly identified target
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Los Cerros Ltd (ASX:LCL) has today commenced drilling at its newly identified porphyry target (Ceibal) ~1km southwest of Tesorito.
The emerging gold-copper play has embarked on its largest year of exploration drilling to date, with a view to uncovering the true size potential of its Tesorito and Chuscal porphyry prospects at its Quinchia Project in Colombia, , a cluster of porphyry targets surrounding the Miraflores Gold Deposit that includes the Tesorito surface porphyry and the porphyry targets at Chuscal.
Ceibal is a new porphyry target with significant scale potential and forms part of the 100% owned Quinchia Gold Project in Colombia.
Porphyry deposits are one of the most important sources of copper and molybdenum. They are also major sources of silver, gold, and tin and may host valuable by-products including platinum, palladium, and tungsten.
As we reported on 29 March, Ceibal has emerged as an early-stage prospect, generating significant momentum to warrant its escalation as a new 2021 drill target.
Ceibal has a substantial, 800m x 600m gold, copper and molybdenum, surface soil and rock chip geochemistry anomaly (no artisanal workings are present) on the shoulder of an air magnetic anomaly.
Ceibal’s surface anomaly is broadly comparable in size and tenor to that of Tesorito.
Further to this, like Tesorito, Ceibal is located within the Marmato Fault Corridor at a structural dilation or “jog”.
In fact, Tesorito, Miraflores, Chuscal and Ceibal are all within, or very close to, the Marmato Fault Corridor, with one such fault set extending north from Quinchia to the 4 million ounce Marmato Gold Mine.
A field program launched last year logged outcrops and float of andesites and diorites similar to those encountered at Tesorito. Trenching results across the anomalous zone has added to the excitement of this new target with significant surface gold reported in three channels:
- 90m @ 1.4g/t Au
- 75m @ 1.2g/t Au (previously announced)
- 25m @ 1.2g/t Au (previously announced)
The diamond rig has been transferred 1.5km NW from Chuscal to Ceibal for the initial program of scout holes.
“We are particularly excited about this new target as it has the surface fingerprint of classic porphyry occurrences,” Los Cerros Managing Director, Jason Stirbinskis said.
“So we have directed the Chuscal rig to Ceibal to start the process of understanding this compelling target. The timing is ideal as we have a backlog of Chuscal assays pending and this break to drill Ceibal will also allow us time to assimilate that pending data before planning subsequent Chuscal holes.
“The emergence of Ceibal and Tesorito West, the new deep intercept encountered while drilling southwest 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.”